California foreclosure inventory declines in November
California foreclosure inventory – the total number of pre-foreclosures, properties in foreclosure that are scheduled for sale, and bank owned properties (REO)—declined 7.6 percent in November from October and is down 31.8 percent compared with last year, according to ForeclosureRadar. While the November decline in inventory is not an unusual event, the significant decline in foreclosure inventory over the past year has contributed to what some are calling an “inventory crisis” of total homes for sale. Continue reading
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Majority of millennial renters plan to buy a home
Amid rising home prices, increasing home sales, and falling delinquencies and foreclosures, more than 1 in 4 consumers (27 percent) feel more positive about homeownership than they did six months ago, compared with 19 percent who report feeling more negative, according to Trulia’s American Dream survey. Harris Interactive conducted the online survey on behalf of Trulia among 2,083 U.S. adults, age 18 and over, between November 15 to 19, 2012. Continue reading
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Mortgage interest deduction in jeopardy?
As the “fiscal cliff” looms, the mortgage interest tax deduction is in the spotlight as Congress and the Obama administration consider ways to reduce spending and raise revenue.
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House flipping gets an expensive twist
Luxury-home flipping is heating up in affluent neighborhoods as well-heeled builders and investors seek better returns than they get on other investments.
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Upshot of the foreclosure backlog
Foreclosures are taking significantly longer in states where lenders must go through the courts, and the delay may or may not be good for borrowers, depending on their circumstances. But some researchers say that dragging the process out hurts society at large.
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PMI Talking Points
Talking Points …
• Most lenders require borrowers to pay private mortgage insurance (PMI) on mortgages in which borrowers make a down payment of less than 20 percent. Continue reading
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