Overall, housing is expected to add to gross domestic product (GDP) for the first time in seven years, albeit by a very modest amount according to Fannie Mae. Near-term improvement in housing sales is expected to be quite modest due to the current very low level of sales and continued expected declines in home prices, which [...]
Home ownership continues to rise despite housing downturn
Home ownership numbers have climbed according to recent data from the Census Bureau. The US current home-ownership rate rose slightly from 65.9 percent in second quarter to 66.3 during third quarter 2011. This is interesting in light of recent commentary from observers within the real estate industry expecting the number to fall over time, eventually [...]
North Carolina has a Foreclosure Prevention fund
The North Carolina Foreclosure Prevention fund can provide an interest-free loan of up to $36,000 to help homeowners. States struggling with very high unemployment (above the National Average) or suffering from steep rates of home price declines were targeted by the Hardest Hit Fund established by President Obama in February 2010. The goal was to provide [...]
Fannie Mae launches knowyouroptions.com to assist consumers
knowyouroptions.com is Fannie Mae’s new site to inform consumers of options when faced with the possibility of foreclosure.
What is Short Sale
A short sale is a real estate sale in which the sale proceeds fall short of the balance owed on the loan. A short sale does not always indicate the homeowner is in trouble, it can occur if the market or area where a home is located has decreased in value beyond what is owed [...]
