Studies keep showing what we have known for a long time: Fighting foreclosures is a futile — and counter-productive — use of resources. New studies by John Burns Real Estate Consulting and Standard & Poor’s Financial Services conclude that loan mod efforts only serve to delay the inevitable, resulting in future foreclosures. The credit bubble allowed home buyers to get in over their heads, to buy more house than they could afford. Once prices came down and the refi pipeline closed down, it was game over for many of these buyers.
Coming Soon: 5 Million More Foreclosures
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Pennsylvania home sales surge in March
Even as the spring homebuying season got off to a slow start across much of the U.S., one of the most populous states saw increased activity.
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Ginnie Mae expands its monthly single-family reporting
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Freddie Mac’s proposed home equity product could unlock $850B in originations
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Brian Icenhower on impact of commission lawsuits and low volume
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Opinion: If you’re chasing volume, you’re chasing the wrong carrot
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Why are existing home prices rising when sales are still so low?