J Manno's (jmanno) Blog

  Daily Real Estate News  |  March 25, 2008Second Mortgage Borrowers StruggleHome owners with both first and second mortgages are finding it increasingly difficult to refinance. Some of the nation's largest lenders, including National City, that hold a second lien on a property are refusing to si...

  Daily Real Estate News  |  March 25, 2008More Banks Consider Short SalesAfter about a year of dealing slowly and reluctantly with short sale offers, many banks are reconsidering, looking for solutions that will allow them to recoup debt in foreclosure situations.Observers say that if the trend ...

  Daily Real Estate News  |  March 25, 2008Feds Charge 19 With Mortgage FraudFederal prosecutors announced 19 indictments Monday in a mortgage scheme that stole nearly $13 million in home equity and victimized more than 100 home owners.Under the scam, home owners facing foreclosure were promised ...

  Daily Real Estate News  |  March 24, 2008Government Eyes Ways to Help MarketsThe federal government is on the verge of announcing a series of responses to problems in the housing and financial markets.Here are key areas for action:Have lenders or investors take a loss by forgiving some of the r...

  Daily Real Estate News  |  March 24, 2008Condos May Flood Overloaded AreasThousands of condos are expected to further flood the market this year as units that were being built during the housing boom finally hit the market.Reis Inc., a real estate research firm, says more than 4,000 new units a...

  Daily Real Estate News  |  March 24, 2008Michigan Builders Selling HeadquartersThe Home & Building Association of Greater Grand Rapids, Mich., is putting the nonprofit association's headquarters up for sale.The group moved into the $3.5 million building three years ago. Since then, membership i...

  Daily Real Estate News  |  March 24, 2008Fannie: Lawyers Key to Borrower HelpVictor Medrano, a single-family servicing consultant for Fannie Mae, says up to half of homeowners in the foreclosure process did not contact their mortgage servicer when they began having problems making their monthly...

  Daily Real Estate News  |  March 24, 2008Best Places to Get Foreclosure DealsIn markets where housing appears to be stabilizing, buying a foreclosure could be a very good deal.Forbes magazine has analyzed the country's 100 largest metro areas and then differentiated among inexpensive foreclosur...

   Daily Real Estate News  |  March 24, 2008How to Help the Kids Buy First HomeHelping the kids buy a first home is a time-honored tradition that has become even more significant as home prices rise and incomes flatten.Here are three ways parents can help their children:Cash. For parents with the...

   Daily Real Estate News  |  March 18, 2008Vegas Couple Faces Fraud ChargesA Las Vegas couple is accused of orchestrating more than 400 sham real estate deals and cashing in on millions of dollars through a mortgage fraud scheme that involved inflated house values and straw buyers. Eve Mazzarell...