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Foreclosures Up 32% Since April 2008The number of foreclosures nationwide increased by 32 percent compared to the same time last year and by 1 percent in April compared to the previous month, RealtyTrac said Wednesday. |
U.S. Home Prices Dropped 14% in First QuarterThe National Association of Realtors (NAR) reported today that median U.S. home prices fell 13.8% in the first quarter, driven by repossessed homes. |
Real Estate Agents Learn to Handle Short SalesA short sale occurs when a lender accepts less than the balance on a mortgage as part of the sale of a home whose value has dropped below what's owed and whose owner doesn't have the money to make up the difference. The benefit to lenders is that short sales often mean smaller losses than carrying out a foreclosure. They're increasingly common these days, as the values have dropped on many homes whose buyers had little or no equity in the first place. |
NAR Economist Yun Indicates Stage Might be Set for Housing RecoveryThe national housing market has returned to its normal balance after a buying frenzy in the first part of this decade led to a collapse last year, an economist with the National Association of Realtors said Wednesday afternoon. |
Obama Expands Housing Help to Include Second MortgagesThe Obama administration expanded its efforts to prevent Americans from losing their homes, unveiling a program Tuesday that's designed to give financial incentives for companies to modify the terms of troubled second mortgages. |