Prescott Real Estate News Blog's purpose is to keep current, past, and potential clients apprised of the real estate market conditions for the Prescott, Arizona Area. National and state news and events will be posted but special emphasis will be placed on Prescott Area and the Yavapai County - Prescott, Prescott Valley, Chino Valley, Dewey and Kirkland/Skull Valley.
-Prescott Real Estate News
Top News Housing program for 'hardist hit' gets blasted CNN Money - A TARP program that aims to help the nation's most struggling homeowners is falling short, said a special inspector general for the bailout program. A federal-state program aimed... Principal forgiveness on mortgages gains appeal USA Today - Principal forgiveness supporters say it'll lead to fewer foreclosures and help stabilize housing prices. FHFA's new analysis — and DeMarco's discussion of it — signals that a change is likely, says Ira Rheingold of the National... Bank of America rearranges business units Charlotte Business Journal - Charlotte-based BofA explains it is rearranging some of its business units, reducing the total number to five from six. The biggest change is that the bank's deposits and credit and debit card businesses are all in the same division.
Market News Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage Bankers Association - Mortgage applications decreased 2.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 6, 2012. Rate on 30-year fixed mortgage falls to 3.88% USA Today - Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell to 3.88% from 3.98%. That's just above the rate of 3.87% reached in February, the lowest since long-term mortgages began in the 1950s. RealtyTrac Reports Foreclosure Filings Down, Foreclosure Timelines Up DSNews.com - default notices, scheduled auctions, and bank repossessions – were reported on 572,928 properties during the 2012 first quarter, down 2 percent from the previous quarter and down 16 percent from the first quarter of 2011, according to RealtyTrac’s U.S. Foreclosure Market report released Thursday.
Other News Calif. Lawmakers Oppose REO Rental Program REALTOR Magazine - The FHFA launched an REO sales program in February, in an attempt to unload the high inventory of foreclosures held by Fannie Mae and Freddie Mac through bulk sales to investors. California holds the highest number of Fannie Mae’s REO inventory, with nearly a quarter of its REOs...