After extensive data analysis, the Federal Reserve has released information that net equity in household real estate increased by $2.2 trillion in the third quarter of 2012 to Q3 2013. In addition, homeowners’ equity as a percentage of household real estate experienced a drastic increase—from 44.3% a year ago to 50.8% at the end of […]
CoreLogic recently reported that 2.5 million U.S. mortgages have surfaced from negative equity or underwater in the second quarter of 2013. That means 41.5 million U.S. homes currently exist with a positive-equity type of mortgage. Despite an increase in mortgages, 7.1 million homes are still considered underwater due to homeowners owing more money than the […]
Ginnie Mae recently announced that during the month of September, the agency guaranteed $31.22 billion in mortgage-backed securities. More than $27.54 billion in single-family pools were issued in Ginnie Mae II along with $3.68 billion for single-family pools with Ginnie Mae I. Ginnie Mae initiated $2.48 billion in multifamily mortgage-backed securities last month as well. […]
Good credit is essential in today’s age for investing in large products such as a car, an apartment or even a house. According to the real estate firm Zillow, prospective homebuyers with a credit score below 620 are being denied quotes, resulting in 30% of Americans without a mortgage. Home equity loans are becoming extremely […]
According to a recent report by the National Home Sales Snapshot, existing home sales declined for its fourth consecutive week. The report states that for the end of the 30-day rolling period, which ended on October 10, 250,006 properties were sold, which is a 1.3% decline from the previous week, and was also 7.3% lower […]
Reports have shown that Foreclosures and delinquencies have continued to drop within government-sponsored enterprises such as Fannie Mae and Freddie Mac after second-quarter reviews from the Federal Housing and Finance Agency’s (FHFA) Foreclosure Prevention Report. Interestingly, third-party sales and foreclosures fell 10% from last quarter and foreclosure starts decreased by 11%. This is the result […]
Be sure to vote for Affordable Financial Services LTD in Long Island Press’ “Best of LI 2014”! Click here, scroll down to Debt Consolidation Service and choose Affordable Financial Services LTD, then do the same when you scroll down to Mortgage Company. Voting ends on December 15.
According to a recent article in Newsday, new foreclosure cases on Long Island are spiking, even as the mortgage crisis fades in the rest of the United States. The article states that although home values are on the rise — suggesting a housing rebound on the Island — lenders filed 12,271 initial foreclosure cases in […]
A recent article from Bankrate noted that the “housing market bust correlated strongly with a sharp decline in reverse mortgage origination.” However, with federally insured programs due to make some changes, the product could experience a resurgence. Data from the Federal Housing Administration (FHA) indicated a significant volume increase during the height of the housing […]
The U.S. Mortgage Market Index from Loan Sifter and Mortgage Daily reported an increase in inquiries for rates on refinance transactions as interest rates fell. As compared to the week ending on September 13, the average pricing inquiries were up 17%. The week ending on September 20th saw the biggest gains in the refinance sector, […]