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News Results

FHA’s Galante Says Delinquent-Loan Buyers Could Become Landlords
The government mortgage insurer, which already has 35,000 repossessed homes on its books, is looking to sell loans at a discount to keep more properties from going into foreclosure. About a third of foreclosed properties on the market are owned ...
Bloomberg
Fannie Mae, Freddie Mac REO Costs Top $8.5 Billion, Auditor Says
“The enterprises are likely to face elevated REO inventories and costs for years to come.” The two companies sold 353,851 repossessed homes last year, up from 57,748 in 2007, according to the report. “This report paints a startling picture ...
Bloomberg
J.C. Penney ousts head of merchandising, marketing
The two companies sold 353,851 repossessed homes last year, up from 57,748 in 2007, according to the report. The cost of living in the United States fell in May by the most in more than three years as fuel prices retreated, buttressing Federal ...
San Francisco Gate
Imagining U.S. Housing Without Fannie Mae And Freddie Mac
The agencies also hold 173,000 repossessed homes as of March 31, down from 218,000 in the previous year, but still represent a large policy question. Fannie and Freddie have explored bulk sales of properties to investors, who would convert the ...
International Business Times
Wells Fargo, Orlando offer down-payment assistance
That event is aimed at reducing the giant bank's inventory of foreclosed houses and boosting the nation's homeownership rate, particularly in areas where investors are increasingly picking up repossessed homes for conversion to rental houses.
Orlando Sentinel
More insights on local home sales market
Nor does the package show the so-called “shadow inventory,” the number of repossessed or soon-to-be-repossessed homes not yet listed for sale. I did recently receive some insight into those areas, however. The president of the Savannah Area ...
Savannah Morning News
Metro foreclosures falling, but still high overall
"More banks are now recognizing that treating the problem of delinquent mortgages with short sales rather than bank repossessions can help them minimize their losses and also avoid taking on more (repossessed homes), which they then have to ...
detroitnews.com
Spain's hurting banks at heart of eurozone chaos
The country's central bank, the Bank of Spain, says banks are still burdened with about €175 billion ($220 billion) in "problematic" real estate holdings, including loans and repossessed homes. Spain's government debt stood at a relatively low ...
msnbc.com
Foreclosure inventory drops leaving investors dry
Final bids, announced in February, are still being reviewed. The Federal Housing Administration, which manages about 35,000 repossessed homes whose mortgages it insured, plans to sell loans on about 5,000 properties with delinquent loans ...
San Francisco Gate
Is it time to buy a holiday home on Spain's 'Costa Catastrophe'?
All the major Spanish banks have opened real estate websites (each translated into English to appeal to British buyers) to offload the new and repossessed homes on their books, promising discounts of as much as 60% off asking prices. But many ...
The Guardian
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