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Is the Commercial Market At Bottom Yet?

Moody’s reports that commercial prices are bumping up and down along the bottom right now. Some months prices are up a bit, and others they are down. In June prices dropped 4% is what Moody’s called a “choppy drop.” The prices are still higher than they were at the height of the recession in October 2009. Overall commercial prices are 41.4% below their peak recorded in October 2007.

Is the Commercial Market At Bottom Yet? is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Financial Asset Services is Door Knocking for Short Sales

In an effort to motivate homeowners who have lost hope as their mortgage fall more and more behind, Financial Asset Services, Inc. is employing licensed REO and Short Sale Agents around the country to knock on doors in order to communicate options directly to homeowners in distress.

Financial Asset Services is Door Knocking for Short Sales is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

A Total of 975,000 Loan Modifications are Completed

Only 331,000 of the 975,000 loan modifications that have been completed to date have been written under the federal government Home Affordable Modification Program (HAMP); the rest are the result of proprietary loan modifications from servicers and lenders.

A Total of 975,000 Loan Modifications are Completed is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Trulia Finds American Homeownership Dream is Fading

A new study by Trulia finds that the dream of owning a home is fading into the background for more and more Americans. The study reveals that one in four renters never plan on buying a home. Additionally 68% of the other renters believe that home ownership is at least two years away. Many of these people expressed that uncertainty about the economy is affecting when they will begin to look for a home to buy.

Trulia Finds American Homeownership Dream is Fading is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Jobs Outlook Going from Bad to Worse

Employers are continuing to do more with less, and the outlook for adding back employees is rapidly fading. It appears that if the economy is going to recover, it will do so without the participation of the job market.

Jobs Outlook Going from Bad to Worse is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Chase Adds Staff to Expedite Loan Modifications

JP Morgan Chase has added 8,000 loan officers and other staff to help process loan modifications more quickly with the intention of significantly reducing the number of its loans that go into foreclosure.

Chase Adds Staff to Expedite Loan Modifications is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Thrifts are Recovering from Housing Crisis

Despite being heavily hit by mortgage defaults the saving and loan industry is again making a profit. For the fourth consecutive quarter the industry reported profits. In the 2nd quarter of 2010 those profits were $1.49 billion. The profit balance is up from a $94 billion loss in the 2nd quarter of 2009.

Thrifts are Recovering from Housing Crisis is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Underwater Mortgages Decline for Second Consecutive Quarter

The tide appears to be turning on the number of mortgages that exceed value. CoreLogic has calculated that 11 million homes have loans outstanding that are more than the value of the home, or 23% of all outstanding loans on residential properties. That’s the good news.

Underwater Mortgages Decline for Second Consecutive Quarter is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Delinquencies Going Up for 2nd Mortgages–Down for Firsts

Delinquencies on first mortgages declined slightly between July and June, down from 3.3% of all 1st mortgages to 3.2%, according to Standard & Poor’s and Experian’s combined index. The bad news is during the same months delinquencies on 2nd mortgages rose from 2.4% to 2.8% of all mortgage 2nd loans.

Delinquencies Going Up for 2nd Mortgages–Down for Firsts is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

3 Mistakes Investors Make in Scaling Up their Businesses

It’s relatively easy to complete two or three Short Sales per year. All it takes is convincing one or two good Agents in your area to work with you on Short Sales. It’s another ball game entirely to keep deals flowing constantly in the pipeline. Here are the most common mistakes that Investors make in scaling up business to that next level:

3 Mistakes Investors Make in Scaling Up their Businesses is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Mortgage Rates Continue to Decline

Just when you thought they couldn’t get any lower, mortgage rates declined again setting lows for 9 of the past 10 weeks. Freddie Mac reported the 30 year rate to average 4.36%, down .7% from a week ago. The 15 year rates averaged 3.86%, down .04%. The 5 year ARMs are at 3.56%, which is tied for the lowest recorded by the GSE.

Mortgage Rates Continue to Decline is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

The Good News/Bad News about Mortgage Delinquencies

TransUnion reports that more mortgages are 60 days or more behind as of the end of the 2nd quarter compared to the 1st quarter of the year, but the numbers are smaller than they were in 2009. A total of 6.67% of active mortgages were behind by 60 days at the end of June. That’s up from the 1st quarter rate of 5.81%.

The Good News/Bad News about Mortgage Delinquencies is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Shift of Wealth to Asia in Full Swing

The Weiss Money and Markets team last year predicted that there would be a massive shift of world wealth from Western countries to Asia because so many Western countries are debt-ridden. That shift is, in fact, happening, according to the Weiss research team. This team has been right before in predicting recessions and bear markets. Here are a few of the team’s predictions for the remainder of 2010:

Shift of Wealth to Asia in Full Swing is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

HAMP’s Disappointing Results

So far the HAMP program has been disappointing. While over 1.3 million have been approved for trials through July 2010 only 616,839 trials have actually turned into permanent loan modifications. A total of 255,954 trials are still active and will be decided upon in the next couple months for whether they will become permanent.

HAMP’s Disappointing Results is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Those Pesky Deficiency Judgments

At this time there are 13 states with non-recourse laws on the books that protect walk-away Homeowners from being pursued at least by the first mortgage-holder after a Short Sale or foreclosure. They are: Alaska, Arizona, California, Connecticut, Florida, Idaho, Minnesota, North Carolina, North Dakota, Oregon, Texas, Utah, and Washington.

Those Pesky Deficiency Judgments is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Bank of America Leads in HAMP Modifications

The gorilla in the loan restructuring market is Bank of America. The number of permanent loan modifications BOA has completed under the HAMP program is 76,000 through the month of July. BOA has written over 100,000 non-HAMP modifications. Altogether 665,000 loan modifications of one type or another have been completed by BOA since January 2008.

Bank of America Leads in HAMP Modifications is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Fed Issues Mortgage Disclosure Rules

Last week the Federal Reserve Bank issued new rules designed to protect consumers from unfair and deceptive mortgage lending practices. The new rules go into effect in April 2011.

Fed Issues Mortgage Disclosure Rules is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Home Price Increases are Sharply in Decline

CoreLogic indicates that, while home values are up nationwide in June for a fifth consecutive month, the increase is far less dramatic than in past months.

Home Price Increases are Sharply in Decline is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Fannie Mae: Ability to Repay is Important Lending Criteria

Fannie Mae is making it clear to its underwriters that a homeowner’s ability and willingness to repay is of primary concern in approving loans. All debts, including the proposed loan, must be disclosed and considered in awarding a loan. If there are changes that occur during loan origination, Fannie Mae expects underwriters to find out about it.Fannie Mae is making it clear to its underwriters that a homeowner’s ability and willingness to repay is of primary concern in approving loans. All debts, including the proposed loan, must be disclosed and considered in awarding a loan. If there are changes that occur during loan origination, Fannie Mae expects underwriters to find out about it.

Fannie Mae: Ability to Repay is Important Lending Criteria is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.

Gulf Oil Spill is Gutting Home Sales Along Coast

From Houston, TX to Naples, FL the impact of the Gulf Oil spill is having a negative impact on home sales, even though very few beachfront communities have actually experienced oil landfall. The fear that this or another oil spill could affect the beach is just another reason for potential homeowners along the Gulf Coast to stay away.

Gulf Oil Spill is Gutting Home Sales Along Coast is a post from: REWealthCoach.com, Bob Massey's site for real estate investment news, information, tips, videos and podcasts. Visit today! All material is copyright © 2010 Foundation Publishing, LLC.