US home sales rise 9.4 percent in September

WASHINGTON -- U.S. home resales rose far more than expected last month to the highest level in more than two years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

Source:Associated Press
US home sales rise 9.4 percent in SeptemberBy ALAN ZIBEL , 10.23.09, 10:05 AM EDT

What You Need to Know About Reverse Mortgages

With today’s retirees living longer than expected, many of them are turning to other sources of income in their golden years. A buzzword among many seniors is “reverse mortgage,” though critics say they’re often too good to be true. So what is a reverse mortgage, and what does it really do?

source; http://www.foxbusiness.com/story/personal-finance/on-topic/need-know-reverse-mortgages-644573935/ ; Kathryn Elizabeth Tuggle

FHA Announces Several Policy Changes. Adopts HVCC Guidelines

The Federal Housing Administration (FHA) today announced several significant policy changes that are intended to improve their exposure to risk. The changes, effective January 1, include.


source; http://www.mortgagenewsdaily.com/09182009_drastic_fha_guideline_changes.asp
Adam Quinones

Buyer power is new reality of housing market

The American dream of homeownership is still attainable. Buyers just have to deal with a new set of realities.

source; http://www.msnbc.co/, associated press

http://www.msnbc.msn.com/id/32739806/ns/business-economy_in_turmoil/

Treasury says millions more foreclosures coming

WASHINGTON (Reuters) - Only 12 percent of U.S. homeowners eligible for loan modifications under the Obama administration's housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming, the Treasury Department said on Wednesday.

source; By Glenn Somerville http://www.reuters.com/

http://www.reuters.com/article/newsOne/idUSTRE5883S620090909

Mortgage Applications, Loan Rates Fall

Mortgage applications fell for the first time since July, according to a report released Wednesday by the Mortgage Bankers Association.
Last week's 2.2% seasonally adjusted decline in applications, compared to the week prior, came despite a drop in mortgage rates. Fixed rate 30-year mortgages averaged 5.15% last week, down from 5.24% a week ago, the MBA said. Applications for loans to refinance and purchase also pushed lower, falling 3.1% and 1.0%, respectively, when compared to the week prior.

source; Kathryn Glass
FOXBusiness http://www.foxbusiness.com/story/markets/industries/real-estate/mortgage-applications-loan-rates-fall/s

Europe's Most Idyllic Places To Live

Last year, the rising dollar meant European property was becoming more affordable. But even now that the globe is fully in recession, Europe's most idyllic locations have yet to lose any of their charm.

source; http://www.forbes.com/, Parmy Olson, 09.03.09, 06:00 PM

http://www.forbes.com/2009/09/03/europe-most-idyllic-places-lifestyle-real-estate.html

AG Settles With Defendant In Foreclosure Rescue Scheme

Attorney General Martha Coakley has settled a suit with Marie Bettie Mereus, a straw buyer who participated in a massive foreclosure scheme targeted at troubled homeowners facing foreclosure.

source; Banker and Tradesman

http://www.bankerandtradesman.com/news134537.html

Number of Homeowners Late in Paying or in Foreclosure Soars

The number of Americans who are in serious delinquency on their mortgage rose to a record 9.24% last quarter, according to the Mortgage Bankers Association, as the increasing job losses and still-struggling economy forced more people out of their homes.
Meanwhile, the number of people who were in the foreclosure process rose to 4.3% from 3.85% from the previous quarter.

Source: Ken Sweet FOXBusiness

http://www.foxbusiness.com/story/markets/economy/update----homeowners-late-paying-foreclosure/