News

Mobile home parks booming in Central Florida

Posted by on Aug 29, 2014 in Uncategorized | Comments Off on Mobile home parks booming in Central Florida

Business is “moving in” big time in Central Florida, but not from mansions or conventional homes. Karen Rearden runs Four Star Homes. She said they’re the leading resale operation for manufactured housing communities throughout Central Florida. Rearden started the business in 1982, and has helped developed dozens of local parks since then. “Price range has a lot to do with it,” said Rearden. “People have downsized from large homes to come into a community atmosphere.” Yes. We’re talking about mobile...

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Mobile-home living

Posted by on Jun 24, 2014 in Uncategorized | Comments Off on Mobile-home living

Mobile-home living An option for affordable housing According to the U.S. Census Bureau, an estimated 20 million Americans live in mobile homes, and La Plata County has many people who have opted for the mobile-home lifestyle. Many working people, families and retirees live in mobile-home communities because of their affordability and minimal maintenance. A view of the mountains, Animas River and the Durango & Silverton Narrow Gauge Railroad doesn’t hurt. Kathleen Baranowski moved to Durango with her husband, Loren, from England just...

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6 Things to Consider Before Purchasing Non-Performing Notes

Posted by on Sep 26, 2013 in Uncategorized | Comments Off on 6 Things to Consider Before Purchasing Non-Performing Notes

Atlanta—If you told me five years ago that the selling of distressed notes by banks would become a virtual retail industry, I wouldn’t have believed it. Yet here we are, and business is booming. As an example of the frenzy, I recently had three different clients bidding on the same note. Pretty amazing. In multifamily alone, there are billions of dollars worth of outstanding, distressed debt. Whereas a few years ago, banks would have been more inclined to foreclose on a non-performing commercial real estate property, they are now choosing...

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Exuberance for Sacramento Real Estate Is Relentless

Posted by on May 7, 2013 in Uncategorized | Comments Off on Exuberance for Sacramento Real Estate Is Relentless

“Our market run will not end anytime soon,” according to Pat Shea, President and COO of Lyon Real Estate. “Affordability is at a 30 year high, house payments are half of what they were at the peak and continued low interest rates all spell stability and growth in Greater Sacramento real estate.” Shea notes that the market has been highly strengthened through buyers that have both cash and traditional loans invested in their homes. Shea reports that all price points continue to experience steady month over month increases in both new...

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JPMorgan and Citibank sued Over $300 Million in Mortgage Loans

Posted by on May 3, 2013 in Uncategorized | Comments Off on JPMorgan and Citibank sued Over $300 Million in Mortgage Loans

JPMorgan Chase & Co. (JPM), Washington Mutual Inc. and Citigroup Inc. (C) were sued by Integer Program LLC over $301 million in losses from mortgage loans. Integer claimed that the banks breached a 2007 mortgage loan purchase agreement, according to the suit filed April 26 in New York State Supreme Court in Manhattan. Washington Mutual securitized more than 4,600 residential mortgage loans that were eventually sold to Integer, according to the complaint. The alleged breaches occurred on more than 1,400 loans. “Over 60 mortgage loans...

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Are Banks Easing Up on Mortgage Standards?

Posted by on Mar 6, 2013 in Uncategorized | Comments Off on Are Banks Easing Up on Mortgage Standards?

A very tight mortgage lending environment “promises improvements this year as the drivers of tough credit standards reverse,” according to Moody’s Analytics ResiLandscape Report. Still, lending will remain tight by historical standards, the report notes. Tight underwriting conditions have been one of the main obstacles for the housing market recovery. But the credit agency says that those conditions began to ease somewhat this year and likely will continue to. “Rising house prices give lenders more breathing room to extend...

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The Impact of “Fiscal Cliff” Legislation on the Real Estate Market

Posted by on Jan 14, 2013 in Uncategorized | Comments Off on The Impact of “Fiscal Cliff” Legislation on the Real Estate Market

Peering through the dust that is just now settling following the eleventh-hour passage of the American Taxpayer Relief Act of 2012, it appears that millions of beleaguered homeowners can rest a bit easier — especially those concerned about the impact the ‘fiscal cliff’ may have had on ongoing mortgage debt relief efforts. In the final moments of the first day of the New Year, members of the U.S. Congress signed off on the so-called “fiscal cliff” law (the American Taxpayer Relief Act of 2012) following months of backroom bickering...

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Bank of America Delinquent Loans Mean Losses: Mortgages

Posted by on Dec 21, 2012 in Uncategorized | Comments Off on Bank of America Delinquent Loans Mean Losses: Mortgages

Bank of America Corp. has amassed $64 billion of mortgages that are at least six months delinquent and have yet to enter foreclosure, more than twice the amount held by its four largest competitors combined. The loans are monitored as part of February’s $25 billion settlement between the top five U.S. lenders and state attorneys general over allegations of abusive foreclosure practices. Bank of America’s stockpile of deteriorating debt is mostly from its 2008 acquisition of Countrywide Financial Corp., once the nation’s largest...

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Top 10 foreclosure states chart

Posted by on Sep 27, 2012 in Uncategorized | Comments Off on Top 10 foreclosure states chart

Foreclosure filings were down 7 percent nationally from August to September. According to RealtyTrac, a California-based firm that tracks foreclosures, these states had the highest rates of foreclosure in Spetember. Nationally, 1 in every 730 housing units received a foreclosure filing last month. Did your state make the top 10 foreclosure list? Top 10 foreclosures by state (as of September 2012) National foreclosure filing average: 1:730 housing units National average foreclosure sales price: $194,681 States1 Average price2 Ratio of...

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Increased Interest in Expanded HARP

Posted by on Jun 21, 2012 in Uncategorized | Comments Off on Increased Interest in Expanded HARP

MORE homeowners who are “underwater,” or owe more on their homes than they are worth, have been taking advantage of an expanded Home Affordable Refinance Program to refinance their loans and obtain lower interest rates, according to a recent government report. The New York Times…  Industry experts expect that the numbers will continue to grow now that qualifications have been loosened. According to the June report, by the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, in the first quarter 180,000...

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