Almost 8 percent of Texans are behind on their mortgage payments. That’s slightly better than the national average of Americans who are at least a month late paying their home loans during the first quarter, the Mortgage Bankers Association of America said Thursday.Read Full Article Tags: Dallas, Foreclosures, Housing
Austin-based Guaranty Financial Group Inc. missed a Thursday deadline set by federal regulators to submit a strategy for its future. Last month, the Office of Thrift Supervision ordered Guaranty to submit the plan. The regulator said Guaranty and its subsidiary Guaranty Bank had “engaged in unsafe and unsound banking practices.” Regulators also said the company’s [...]
At Bank of America, the nation’s largest mortgage servicer, more than 60 percent of approved short sales do not close, which is why the bank wants to streamline the process, said BofA Senior Vice President David Sunlin by telephone Thursday. Sunlin, who manages short sales for the bank, said the bank’s first goal still is [...]
WASHINGTON (AP) — Housing construction plunged to a record low in April as a steep drop in apartment building offset a rebound in single-family construction. Permits for new projects also hit a new low. Housing construction, permits hit record lows | EUREKA REALTY NETWORK.
Austin-based Guaranty Financial Group Inc. faces a crucial deadline this week that could determine whether it will remain independent, have its assets liquidated or be absorbed by another financial institution. Continue Tags: Banks, Lending, Austin+Bank
Well, not quite. Short sales have been underutilized, real-estate agents say, because they’re time consuming. It can take months to get a bank to sign off on a short sale, which is a lot longer than some buyers are willing to wait. Realtors say that banks also try to reduce their commissions on a short [...]
The Austin metro area has seen close to 6,500 foreclosure postings in the first half of 2009, a 52 percent increase compared with the same six months last year, according to Addison-based Foreclosure Listing Service Inc. Continue Tags: Foreclosures, Housing
The government will pay mortgage-servicing companies up to $1,000 and borrowers up to $1,500 for successful short sales or “deeds in lieu” transactions. It will also spend up to $1,000 to help defray the cost of getting holders of second mortgages to release their liens so these transactions can be completed. Short sales have accounted [...]
Foreclosure activity nationwide remained at record levels in April, but figures in Texas are falling, according to data released Wednesday by RealtyTrac. Continue Tags: Foreclosures, Housing, Texas
Realtors ramp up call for standards Patience is increasingly wearing thin across the country as real estate agents become more vocal over the agonizing process. They argue that clearing the nation’s huge inventory of distressed properties is paramount to resuscitate an ailing housing market and sputtering U.S. economy. Read Full Article .
