Bob's Blog

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This blog contains selected content from REWealthCoach.com, a blog for realtors and investors containing news, tips, opinion and strategies for making it in today's real estate world.
RECENT BLOG POSTS
At this time there are 13 states with non-recourse laws on the books that protect walk-away Homeowners from being pursued at least by the first mortgage-holder after a Short Sale or foreclosure. They are: Alaska, Arizona, California, Connecticut, Florida, Idaho, Minnesota, North Carolina, North D...
09/20/2010
The gorilla in the loan restructuring market is Bank of America. The number of permanent loan modifications BOA has completed under the HAMP program is 76,000 through the month of July. BOA has written over 100,000 non-HAMP modifications. Altogether 665,000 loan modifications of one type or anoth...
09/20/2010
Last week the Federal Reserve Bank issued new rules designed to protect consumers from unfair and deceptive mortgage lending practices. The new rules go into effect in April 2011. Mortgage brokers may no longer receive compensation based on the interest rate that the consumer receives on a loan, ...
09/20/2010
CoreLogic indicates that, while home values are up nationwide in June for a fifth consecutive month, the increase is far less dramatic than in past months. Home prices, including distressed sales, increased year-over-year by 1.4% in June, but this was a 2.3% deceleration from May. The decline was...
09/20/2010
Fannie Mae is making it clear to its underwriters that a homeowner’s ability and willingness to repay is of primary concern in approving loans. All debts, including the proposed loan, must be disclosed and considered in awarding a loan. If there are changes that occur during loan origination, Fan...
09/20/2010
From Houston, TX to Naples, FL the impact of the Gulf Oil spill is having a negative impact on home sales, even though very few beachfront communities have actually experienced oil landfall. The fear that this or another oil spill could affect the beach is just another reason for potential homeow...
09/20/2010
Diana Olick points out in her recent article, “Foreclosure Math” that no one knows the exact number of houses currently in the REO inventory. This is one number that the government does not tally for us. Olick provides an estimate based on the numbers that we do know. We can dig into the GSE and ...
09/20/2010
The National Association of Realtors Q2 survey gives the suggestion that home price declines are moderating in much of the country. In 100 of 155 metropolitan areas that the NAR tracks there were median price increases for existing single family homes compared to Q2 of 2009. There were 14 areas w...
09/20/2010
The new KnowYourOptions is Fannie Mae’s one stop site for information to help homeowners understand their options when it comes to beating foreclosure. The site is easier to use and more comprehensive than Fannie Mae’s previous information page on foreclosure options. There are sections that defi...
09/20/2010
One of the signs of American’s unwillingness to spend when unemployment is so high is the latest statistics from the Federal Reserve Bank on consumer use of credit. It’s down for the fifth straight month. Revolving debt—credit card debt primarily—declined by $4.48 billion in June after a $7.15 dr...
09/20/2010
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This blog contains selected content from REWealthCoach.com, a blog for realtors and investors containing news, tips, opinion and strategies for making it in today's real estate world.