Real Estate

Home Loan Modifications increased to 45 percent for February 2010

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[Best Syndication News] The United States Treasury along with the Department of Housing and Urban Development (HUD) announced February's data for the number of loan modifications that occurred through the Obama Administration's Home Affordable Modification Program (HAMP). There was 170,000 homeowners that were able to gain a permanent loan modification on their mortgages while another 91,800 loan modifications have been approved by servicers and are waiting for the loan borrower's acceptance.

The program has seen over 1.3 million homeowners receiving offers for a trial modification on their existing home mortgage loan. There was 72,000 new trial modifications that started in the month of February.

Los Angeles Attorney General warns about Forensic Loan Audits

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[Best Syndication News] A warning was issued by Los Angeles Attorney General Edmund G. Brown Jr. along with the California Department of Real Estate (DRE) along with the State Bar of California for individuals to stay away from forensic loan audits. The Loan Modification industry has been hit with “phony foreclosure relief service” which is called forensic loan audits.

Consultants are hired to perform a forensic loan audits which takes cash from homeowners that are desperate to fixed their mortgage payments.

"Forensic loan audits are yet another phony foreclosure-relief service hawked by loan-modification consultants trying to cash in on the desperation of homeowners facing foreclosure," Brown said. "The foreclosure-relief industry continues to be long on promises, but short on results."

HGTV Dream House Giveaway – Only 12 Days Left to Enter the Sweepstakes

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[Best Syndication News] Dreaming of living in a beautiful home? There is a contest going on with HGTV network giving away a home in New Mexico and all-new 2010 GMC® Terrain and $500,000 in cash too! The home is a designed with a modern Pueblo ranch home. The décor is using hues of teal and peach, with natural stone as a theme throughout the home.

You can enter the drawing once a day on the HGTV website. They also are giving an extra entry to win the car by itself. So remember to enter before time runs out.

HGTV builds a dream home each year, last year they built a dream home in Sonoma, California. They have professional designers come in and decorate each room with requisite details. So all you really need to do is bring yourself and your family and you are ready to move in.

Millions Of Homeowners In Financial Trouble And May Walk Away

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(Best Syndication News) Although a recent report found that housing prices are higher is some areas of southern California, there is still a concern about foreclosures. Case-Shiller reports that housing prices may have stabilized.

The National Association of Realtors report that 16.7 percent fewer existing homes sold in December 2009 from the month earlier. These homes include: single-family residences, townhomes, condominiums and co-ops. For all of 2009 the number of existing homes sales is higher compared to 2008.

The NAR also says that home prices were up 1.5 percent in December compared to the previous year. “The median price rose because of an increased number of mid- to upper-priced homes in the sales mix,” Lawrence Yun, NAR chief economist said. The inventory fell by 3.29 million units (6.6 percent) in December 2009.

Home Sales improving Slowly in December from Previous Year Numbers

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[BestSyndication News] The National Association of Realtors released a report today saying that annual sales for homes improved in 2009 with 5,156,000 existing home sales. This was up 4.9 percent from the previous year of 4,913,000 home for sale.

This has been the first signs of recovery for the real estate market with gains that hasn't been seen annually since 2005.

The national median existing home price for all housing for the month of December 2009 was $178,300.

The real estate market is still recovering and there was 32 percent of the sales last month that came from distressed properties.

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