RISMEDIA, Friday, December 09, 2011— Fannie Mae’s and Freddie Mac’s foreclosure prevention activity increased in the third quarter of 2011 and total nearly 2 million foreclosure prevention actions since the beginning of conservatorship in 2008. During this period, the Enterprises completed one million loan modifications, helping borrowers stay in their homes.
According to the Federal Housing Finance Agency’s third quarter 2011 Foreclosure Prevention & Refinance Report, the increase in completed foreclosure prevention activity in the third quarter was driven primarily by loan modifications and repayment plans. Two-thirds of all borrowers who received loan modifications in the third quarter had their monthly payments reduced by over 20 percent. Additionally, the Enterprises’ cumulative refinancings through the Home Affordable Refinance Program (HARP) increased 11 percent during the third quarter to nearly 928,600 loans.
Also in the report:
• The Enterprises have completed nearly 2 million foreclosure prevention actions since the start of conservatorship. Nearly 1.7 million of these actions have allowed borrowers to retain homeownership, with more than one million being permanent loan modifications.
• Loans modified since the start of HAMP are performing substantially better compared with loans modified in earlier periods.
• Serious delinquency rates continued to decline. However, the percentage of loans that have missed one payment increased during the third quarter.
• REO inventory declined for the fourth consecutive quarter as property dispositions continued to outpace acquisitions in the third quarter.
To view the third quarter 2011 Foreclosure Prevention & Refinance Report, click here.
For more information, visit www.fhfa.gov.
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We try to help provide general information to our clients and share that with our community. One of our subscribers asked about home sales activity in Smyrna priced between 300k & $450k. We have included a 13 month chart of home sales activity. If you have a request, contact Dan Petersen at www.petersenpartners.com.
For more information, contact Dan at www.petersenpartners.com. You can also get access to all the listed properties and search like an agent with a free subscription to www.myagentdesk.net. Log in today!
Here is a deal I came across today:
$175 for $350 Worth of Pressure Washing Services
Now is the time to do those annual tasks before the hard winter sets in. Here is a list of tasks to get ready!
- Check smoke detectors:
- Install a carbon monoxide detector:
- Service your heating system and replace the filters.
- Drain sprinkler systems:
- Shut off outdoor faucets.
- Change light timers
- Get firewood delivered.
- If you are selling a home and it’s vacant, make sure you turn on the heat and set the thermostat.
What other things do you do to get your home ready for winter? Let us know below!
Chief economist of the National Association of Realtors, Lawrence Yun, stated
“Tight mortgage credit conditions have been holding back home buyers all year, and consumer confidence has been shaky recently,” he said. “Nonetheless, there is a sizeable pent-up demand based on population growth, employment levels and a doubling-up phenomenon that can’t continue indefinitely. This demand could quickly stimulate the market when conditions improve.”
Mortgage rates are expected to gradually rise over the next year.
For the full article, click here.
What does this mean for you if you are looking to buy or sell in the next year? Contact Dan Petersen to find out more! www.petersenpartners.com
13k for this fixer upper. Some renovations done back in 07. 3 bedroom and 2 baths.
For more information contact Dan Petersen at www.petersenpartners.com or search for free like an agent at www.myagentdesk.net.
…or better yet, buy them a rental property and turn it into an investment property for you!
Per the census bureau, the proportion of young adults living in their parents’ home increased from 2005 to 2011.The percentage of men age 25 to 34 living in the home of their parents rose from 14 percent in 2005 to 19 percent in 2011 and from 8 percent to 10 percent over the period for women.
With low interest rates and great value contact Dan Petersen at Petersen Partners (www.petersenpartners.com) to find that great investment property.
For more information, visit www.census.gov.