A report recently released by CoreLogic, a provider of consumer and financial analytical information that tracks foreclosure rates across the U.S., shows that foreclosure rates in the Dallas-Plano-Irving area for September of 2011 were slightly higher than in September of 2010. Despite the slight increase, foreclosure rates in the area remained lower than national averages [...]
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Rockwall Family Targeted by Craigslist Rental Home Scam
Renters need to beware when renting homes on Craigslist: A single mother recently lost close to $2,000 in a rental scam where they were rented a home that was in foreclosure by a company in Dallas. At first, they assumed everything was legitimate but were stunned two weeks later when a constable showed up at [...]
Average Foreclosure Time in U.S. Sets New Record
Florida-based Lender Processing Services reported today that the average U.S. loan in foreclosure has been delinquent a record 631 days. After-effects of the robosigning scandal coupeled with additional red tape in judicial-foreclosure states have reportedly pushed this to the highest level on record. Ineffective loan modifications were also noted as a factor contributing to both [...]
October Pending Home Sales Hit Highest Level in Over A Year
The National Association of Realtors reported that national pending home sales for October 2011 rose to their highest level in over a year. The sales agreement index was reported to be its highest since April of 2010 which was the last month buyers could secure contracts to qualify for the now expired homebuyer tax credit. This is a good [...]
Mortgage Guideline Changes on the Horizon for Fannie, Freddie, VA and USDA
Some mortgage guideline changes are on the way for some Fannie Mae, Freddie Mac, VA and USDA loans:\ Freddie Mac is loosening their income documentation guidelines for social security, retirement, survivor and dependent benefits, long-term disability, and public assistance. They are now only requiring proof of receiving the income for two months. Alimony and child [...]
Proposed Legislation Could Make Energy Costs Factor Into Both Home Value and Underwriting Mortgage Borrowers
A new bill recently introduced on Capital Hill could fundamentally affect mortgage underwriting and home valuation based on a home’s energy efficiency. The bill, called the SAVE Act (Sensible Accounting to Value Energy) is a bipartisan piece of legislation that would require Fannie Mae, Freddie Mac and FHA to factor a home’s energy efficiency into [...]
Texas Home Sales Up 18% In Third Quarter of 2011 Compared To Third Quarter of 2010
Home sales in the State of Texas were up in the third quarter of 2011 compared to the third quarter of 2010 by almost 18% according to the Texas Quarterly Housing Report issued by the Texas Association of Realtors. The total volume of home sales in the third quarter of 2011 was reported to be [...]
September Sales Figures Slide Compared To August But Show Gains Over Last Year
The rate of existing-home sales nationwide was down 3% in September of 2001 compared to August 2011, although September sales were a brisk 11.3% above September of last year according to a recent report from the Realty Times. One significant factor noted in the report that is likely a large contributor to the weaker numbers [...]
The Regions Bank 100% Mortgage Loan for Doctors | Dallas Real Estate and Mortgage Information
If you are a doctor/physician or other eligible professional and are in the market to purchase a new home or refinance an existing mortgage, the Regions Bank 100% Financing Doctor Loan may be the mortgage option you’ve been looking for! The Regions Bank 100% Financing Program for Doctors features flexible underwriting guidelines and is available on [...]
Dallas Year over Year Home Values Decline in May 2011 Case Shiller Report
Dallas home prices fell 4.7% in May of 2011 compared to May of 2010 in the latest Case-Shiller home price report for May 2011. This makes 11 months of year-over-year declines for the Dallas area. Overall, Dallas home prices have dropped about 10 percent since the peak of the real estate market in 2007. There [...]
