Archive for December, 2008
Foreclosures climb in Central Texas
By Shonda Novak | Austin American Statesman
Foreclosure postings for the upcoming Jan. 9 auction are up in four Central Texas counties, with double-digit spikes in Travis, Bastrop and Williamson counties..
The elevated numbers for those and some other Texas counties are “somewhat surprising, since (mortgage giants) Fannie Mae and Freddie Mac had pledged to suspend [...]
Texas AG Proposes Legislation To Help Fight Foreclosure Fraud
Originally posted by Daily Mortgage Fraud News on 10 December 10, 2008
this is a blank line
In the following press release Texas Attorney General Greg Abbott and state Sen. Craig Estes (Wichita Falls) announced a legislative initiative that will help protect Texas homeowners from foreclosure rescue scams. If enacted, the proposal would enhance the Attorney General’s [...]
The Reality of a 4.5% Interest Rate
While the mortgage market continues to generate a lot of chatter in both the media and in Washington, interest rates are currently near or at all-time lows. If you or anyone you know are looking to take advantage of these low rates, let me explain why now is the time to act.
Lately there has been [...]
Brilliant Parody of the Real Estate Downfall
We saw this video and thought it was extremely creative! Please be warned that is it intense, but the creators did a wonderful job of depicting how no one is necessarily “safe” during this time of Real Estate downfall. Enjoy…
The Silver Lining…..
With the myriad of bad economic news constantly in the forefront of our lives these days, it’s interesting to stop and consider a few truths.
Take the following paragraph from a lead AP article last week:
http://www.amarillo.com/stories/121308/bus_12016280.shtml
WASHINGTON – Consumers reduced their spending at retail stores again in November while the costs of goods before they reach store [...]
Commission Votes to Keep TRCC
The TRCC was told to become a better watchdog over homebuilders
The Sunset Advisory Commission late Tuesday voted not to abolish the controversial state agency that polices homebuilders and investigates consumer complaints about shoddy construction, after years of complaints that the agency has become a tool of the industry it is supposed to regulate.
But commission members [...]
10 Tips for Holiday Travel!
By Ed Hewitt, Features Editor
This Season Could be one of the Most Challenging Yet!!
With travel volume back up to pre-9/11 levels, constriction in the airline business, and Christmas and New Year’s falling on Sunday this year, the 2005-06 holiday travel season could be one of the most challenging to date. Add in the fact that [...]
It May Be Time to Think About Buying a House
By RON LIEBER
The NY Times
Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.
Then, everyone who sat on their down payment savings accounts for a few [...]
Retail sales, wholesale prices fall again in Nov.
By CHRISTOPHER S. RUGABER, AP Economics Writer
WASHINGTON – Consumers reduced their spending at retail stores again in November while the costs of goods before they reach store shelves also continued to drop, more bad signs in a recession that appears to be deepening.
Businesses also cut their inventories by the largest amount in five years, [...]
Mortgage Delinquencies, Foreclosures Rise to Record
By Kathleen M. Howley
One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the world’s largest economy shed jobs and real estate prices tumbled.
The share of mortgages 30 days or more overdue rose to a seasonally adjusted 6.99 percent while loans already in foreclosure rose to [...]
