As lenders review their backlog of more than 5 million delinquent mortgages, short sales are becoming an ever more popular escape route, it was reported by CNBC. But that trend may have a short life.
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There is mounting pressure from consumer groups and political leaders to bar attempts by local governments to use the power of eminent domain to take ownership of properties for purposes other than those originally targeted for use of this power.Read More »
The residential rental market is still booming. This surprises many analysts, considering the favorable conditions for purchasing a home.Read More »
The time it takes to sell a home is shrinking. In fact, the selling period is now in the range of historic norms for healthy market conditions.Read More »
The U.S. Consumer Financial Protection Bureau is proposing a rule requiring mortgage lenders to provide home loan applicants with appraisal reports that detail how the value of a property was determined.Read More »
Several city and county government leaders, most notably in San Bernardino, Calif., are considering using eminent domain to force lenders to sell troubled "underwater" homes to private investors at prices less than the balances of their mortgages.Read More »
Most economists and homeowners believe strategic defaults are a bad idea, revealed a new survey. A strategic default occurs when a homeowner permits his mortgage to default, possibly leading to foreclosure, even though he or she can afford to make the payments.Read More »