In the News
How Banks Are Worsening the Foreclosure Crisis
By Brian Grow, Keith Epstein and Robert Berner - Feb. 12, 2012 | Bloomberg BusinessweekThe bad mortgages that got the current financial crisis started have produced a terrifying wave of home foreclosures. Unless the foreclosure surge eases, even the most … Read more »
BofA foreclosures skip Arizona
Phoenix Business Journal - Oct. 18, 2010 | TIMEBank of America said today it is starting up foreclosures again in 23 states, but will continue its freeze in 27 others, including Arizona… Read more »
The Case Against Homeownership
By Barbara Kiviat - Sept. 11, 2010 | TIMEHomeownership has let us down. For generations, Americans believed that owning a home was… Read more »
Loan Modification Programs in Phoenix Helps Fewer than Expected
By Catherine Reagor - Sept. 5, 2010 | Arizona RepublicA year and a half after it began, the federal government's loan-modification program is helping fewer homeowners facing foreclosure than hoped. Read more »
Opinion: Housing Crisis? Look to Canada for Answers
By Jim Powell - Sept. 3, 2010 | AOL NewsPresident Barack Obama has tried to prop up the housing market by helping people stay in their homes, even though they're still overwhelmed with mortgage debt. This is the latest in a long series of… Read more »
Arizona HOAs turn to hardball tactics; critics call system inequitable
By J. Craig Anderson - Aug 30, 2010 | The Arizona RepublicArizona homeowners associations are not accepting a resident's foreclosure as an excuse when it comes to collecting unpaid dues, assessments and fines. Already forced to raise member dues and… Read more »
Widespread Fear Freezes Housing Market
By Joe Nocera - Aug 27, 2010 | New York TimesYou have to wonder sometimes what they’re smoking over there at the National Association of Realtors. On Tuesday, the self-proclaimed “voice for real estate” released its “existing home sales” figures for July. They were gruesome. Sales were down… Read more »
In Defense of Homeownership
By Ron Lieber - Aug 17, 2010 | New York TimesIt’s hard to read the headlines and not conclude that becoming a homeowner is a terrible idea. This week, the National Association of Realtors announced that existing-home sales in July had fallen an astounding… Read more »
Valley Bankruptcies Continue Decline
By Russ Wiles - Aug 13, 2010 | Arizona RepublicDespite lingering economic worries, Phoenix-area bankruptcies eased for a fourth consecutive month in July. The 2,585 filings last month were down from 2,656 in June and a recent peak of 3,063 in March, according to the U.S. Bankruptcy Court in Phoenix. Valley bankruptcies remain at elevated levels and still are on pace to exceed… Read more »
Fannie Mae Increases Penalties for Borrowers Who Walk Away
June 23, 2010WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure. Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of… Read more »
How foreclosure impacts your credit score
By Les Christie - April 22, 2010 | CNN MoneyNEW YORK (CNNMoney.com) -- If you're delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much? Until recently, those answers were hard to come by. Credit bureaus were uncommunicative about expressing, in points, just how much impact different foreclosure types of mortgage delinquencies have on scores. Read more »
NPR Report - Shadow Housing Inventory
August 2, 2010The housing sector that dragged the economy into recession three years ago, is still in bad shape. Home sales are eroding despite low mortgage rates. There are just too many homes on the market and not enough people to buy them. Plus, there's a huge shadow inventory: Millions of other homes are waiting to come on the market. Listen »
Borrowers exit troubled Obama mortgage program
by Alan Zibel - June 22, 2010 | Associated PressWASHINGTON - The Obama administration's flagship effort to help people in danger of losing their homes is falling flat. More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments… Read more »
Signs Arizona's economy may be improving
by Betty Beard - June 13, 2010 | The Arizona RepublicArizona's economy continued to offer signs that its green shoots of growth are continuing to flourish. Motor-vehicle sales and job numbers were especially strong in the most recent data, and the housing market is looking better. Read more »
A new scam hitting home sellers around the world is even making realtors nervous
by By: Joe Ducey - June 11, 2010PHOENIX - There’s a new scam on the rise and it’s got realtors nervous. It’s a scam that can affect a house you’re selling or even the value of houses in your neighborhood. Read more »
2010 Legislative Bills Passed of Interest to the Real Estate Industry & General Businesses in Arizona DOWNLOAD WORD DOC |
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| AZ Foreclosure Information Workbook | |
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| View 60 Minutes Segment: Mortgages: Walking Away » |
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