Naples, Florida: 877-352-6404
Blue Bell, Pennsylvania: 215-542-7700

Real Estate Blog

Tuesday, February 14, 2012

State and federal officials finally reached a landmark $26 billion settlement on Thursday with five of the nation’s largest banks for fraudulent lending practices. The lengthy negotiations came to a close after the attorneys general of California and New York joined more than 40 other states on the proposed settlement.

With news of continued low mortgage rates and a positive housing outlook for 2012, the settlement came on top of an already-good news week for home owners.

The New York Times: States Negotiate $26 Billion Agreement for Homeowners

After months of painstaking talks, government authorities and five of the nation’s biggest banks have agreed to a $26 billion settlement that could provide relief to nearly 2 million current and former American home owners. It’s part of a broad national settlement aimed at halting the housing market’s downward slide and holding the banks accountable for foreclosure abuses.

Bloomberg: Banks Paying Homeowners to Avoid Foreclosures

Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent home owners to sell their properties for less than they owe.

Wall Street Journal (Developments): Fannie Mae: Outlook for Home Prices Rises Again

The consumer outlook for U.S. home prices improved again in January, extending a recent upward trend in housing market sentiment, according to mortgage market firm Fannie Mae. Views on the direction of the U.S. economy also continued to improve.

Property Casualty 360: Multiple Industries Join Together to Urge Long-Term NFIP Extension

The insurance and other industries affected by floods are making a big push to get the Senate to act on legislation reauthorizing the National Flood Insurance Program.

HouseLogic: Home Owners Shouldn’t be Washington’s Personal ATM

Washington’s inability to put aside partisan politics and solve long-term problems is placing home owners in harm’s way again. Searching for a means to extend the payroll tax cut that expires at the end of the month, Congress is considering charging home buyers and owners higher Fannie Mae and Freddie Mac loan fees, known as guarantee fees.

For more information about how to take advantage of today housing economy, call Bristol Properties International in the surrounding Boca Raton area at 561-347-1303 or the surrounding Naples area at 239-352-6400.

Published: February 10, 2012 - By: Gavin Mathis

Comments: 0
There are no comments for this post.
Post a comment below
Email Address

Type the characters you see in the picture above.
< Back
Search by Map
Waterfront and Golf Communities
Foreclosure Search
Bristol Resources
Family of Services
What's my home Worth?
Mortgage Calculator and Rates
Investment and Commercial
Great Schools
Receive Email Alerts
Client Login
Bookmark This Site
Updated: Tuesday, January 23, 2018

PinRaise Agent of the Year: Da...
Earlier this year, PinRaise Inc. launched their innovative Agent with HeartTM Program, which...

Does It Makes Sense To Buy A N...
Youre interested in moving. You need to sell your old house first before buying a new one, r...

Why Banks Do Not Lend On Certa...
Ever wonder why banks shy away from loans that appear to be >There are numerous reasons b...

Copyright ©2018Realty Times®. All Rights Reserved

Holiday Open House
You are invited to join RMC Realty International Friday, December 1st from 2-5 PM as we...

Home Owners Keep PMI Deduction and Short Sale Tax Benefit
  Home owners win two important tax benefits in the fiscal cliff deal. The fiscal...