Real Estate

HUD Foreclosure Listings now available with an Interactive Map

screenshot of new HUD REO Mapping Tool Website

(Best Syndication News) - The US Department of Housing and Urban Development (HUD) launched a new website that will map locations of all the Fannie Mae, Freddie Mac, and the Federal Housing Administration foreclosure listings. HUD said that almost half of all foreclosed properties are owned by these agencies.

The mapping tool was designed to help aid communities with the HUD Neighborhood Stabilization Program (NSP). The program was created to help either rehabilitate or demolish foreclosed properties.

HUD Secretary Shaun Donovan explained that the mapping tool helps visualize the foreclosures in the local community.

Additionally, the foreclosure-mapping tool could benefit homebuyers. Real estate investors may be better able to locate foreclosed properties. Other homebuyers may consider the foreclosures in the neighborhood that they are considering living in.

Deadline for HUD’s Emergency Homeowners Loan Program is July 22

Watch HUD's EHLP presentation below

(Best Syndication News) - The deadline to submit a Pre-Applicant Screening Worksheet for the Emergency Homeowners Loan Program (EHLP) is Friday, July 22, 2011. The U.S. Department of Housing and Urban Development (HUD) and NeighborWorks® America launched the EHLP in June to help homeowners that are facing the possibility of home foreclosure by offering an interest free loan up to two years or up to $50,000.

The $1 billion government program is designated to help homeowners in 27 states and in Puerto Rico. The homeowner could be underemployed, unintentionally unemployed, suffering from economic problems, or have a medical condition. In order to participate in the program, the struggling homeowner needs to be pre-screened by the deadline of July 22, 2011.

Fannie Mae HomePath Financing and Buyer Incentive Offer Homebuyers Savings

House - BSN

(Best Syndication News) - Fannie Mae has a Buyer Incentive promotion going on June 14 through October 31, 2011, which will give buyers 3.5 percent in closing-cost assistance. Additionally, the selling agent can get a $1,200 bonus on property transactions that close by October 31. There is also HomePath Mortgage financing options to help with low down payments and a HomePath Renovation Mortgage loan for properties that need mild to moderate repairs.

HomePath® Buyer Incentive Offer June 14 – October 31

The HomePath Buyer Incentive program is going on between June 14, 2011 and ends on October 31, 2011. Some terms must be met in order to be eligible for participation. Those homebuyers that can participate can get up to 3.5 percent in closing cost from Fannie Mae during this promotional period.

National Housing Prices Forecasted to decline 2.4 Percent

Going down - BSN

(Best Syndication News) - Clear Point have released their second half of 2011 forecast for US housing prices, and they anticipate the national average home value will decline another 2.4 percent by the end of the year. Not all areas are as hard hit as others are. Some metropolitan areas have forecasts of gains. The Clear Capital Home Data Index Market Report tracks real estate sales and property values.

Five metropolitan areas have been forecasted by Clear Point as having an increased real estate valuation. Those cities are San Francisco, California; New York City, New York; Washington D.C.; Orlando, Florida, and Dallas, Texas.

Clear Point forecasts a 7 – 10 percent decline in housing prices in Minneapolis, Minnesota; Cleveland, Ohio; and Virginia Beach, Virginia.

Making Home Affordable Program - Government puts hold on payments to three mortgage loan servicers

MHA Program Report- Modification Activity by State - Treasury.gov

(Best Syndication News) - The Obama Administration announced today in a statement that they would start holding back incentive payments for three servicers; Bank of America, NA, J.P Morgan Chase Bank, N.A., and Wells Fargo Bank. N.A. The US Treasury said that these three and one other mortgage loan servicer need to show dramatic improvements within the Making Home Affordable Program.

The US Department of Treasury said that Bank of America, J.P. Morgan Chase, Ocwen Loan Servicing, and Wells Fargo are identified as needing substantial improvements to achieve the guidelines set forth by the government agencies in order to better help homeowners modify home loans. The Ocwen Loan Servicing servicer is not having their payments withheld because they had recently acquired a large servicing portfolio acquired that negatively affected the government's assessment.

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