Foreclosed homes in washington nj,new homes for sale in southwest houston tx,rental houses in tampa bay area news - How to DIY

30.04.2016
Buyers can use our website to search for bank owned real estate foreclosures for sale in the Houston Texas area including Cypress and Katy.  Kevan Pewitt and Houston Prime Realty are experienced in helping investors and first time home buyers in finding and purchasing bank owned Houston real estate foreclosure listings or REO listings. This page includes a comprehensive list of all greater Houston area foreclosed homes for sale organized by subdivision, zip code, and city.  Follow the links below to find listings of foreclosed homes for sale. Buyers can receive an email update on new foreclosures for sale as they come on the market with our Foreclosure Update program. Kevan PewittBroker - Realtor at Houston Prime RealtyKevan Pewitt is a real estate broker and Realtor with a 5 Star Client Experience Rating with the Houston Association of Realtors. So, if you are looking for an experienced real estate agent with a high client satisfaction rating and a track record of success you should choose Kevan Pewitt to help you buy or sell your next home. From a story today at Housing Wire by Jacob Gaffney, we learn that the number of homes with mortgages owned by government sponsored entities (GSEs) Fannie Mae and Freddie Mac entering foreclosure is at an all-time high, and is still increasing. The increasing foreclosure rate may be attributed to borrowers falling out of government mortgage modification programs, or it could be an increase in strategic defaults, which are increasing rapidly amongst more expensive homes.  As home values continue to decline, we may see even more strategic defaults as underwater borrowers decide it is no longer worth it to pay the mortgage. Apparently foreclosure rates amongst mortgages that are not owned by Fannie or Freddie have remained stable.  This discrepancy between foreclosure rates on agency and non-agency mortgages is not explained in the article. In my opinion, the reason for the large foreclosure rate for Freddie Mac loans is they take too long to review for HAMP.


Banks are doing a much better job maintaining homes seized in foreclosures in predominantly white neighborhoods than in mostly black and Latino neighborhoods, according to an investigation by an advocacy group. The National Fair Housing Alliance said it inspected more than 1,000 foreclosed properties in white and minority neighborhoods in nine major U.S.
The investigation, conducted between May 2011 and February 2012, was funded in part by a grant from the federal Department of Housing and Urban Development. The reviewers looked at 39 criteria in rating the level of property maintenance, including accumulated trash, overgrown weeds, damaged windows, steps or roofs, graffiti, peeling paint, missing shutters or gutters, and other visible signs of disrepair. The group said lack of adequate maintenance can have a lasting impact on neighborhoods because potential home buyers considering living there are put off by streets lined with run-down houses.
The city of Detroit, for example,  spent some $20 million between May 2009 and November 2011 to demolish almost 4,000 vacant properties, according to a report last fall by Government Accountability Office.  That report cited complaints from local officials and community groups that said more funds and tougher oversight federal regulators are needed to force banks to comply with local property maintenance codes. The group, a consortium of more than 200 groups, agencies and individuals, said it plans to file complaints with federal housing authorities, alleging discrimination under the Fair Housing Act, against banks that are not maintaining properties. According to a study by Lender Processing Services cited by the article, the rate foreclosure starts are increasing by is the fastest pace yet. Homes surveyed in minority neighborhoods were 82 percent more likely to have boarded-up or broken windows, for example.


The lack of maintenance also puts a burden on municipalities with high concentrations of homes in disrepair, the report noted. Houses in white neighborhoods were generally well maintained while those in minority neighborhoods typically looked abandoned and were in various stages of disrepair, the report said.
Smith said government mortgage agency Fannie Mae is providing additional funding to extend the inspections into other area. We had to start the process all over again because they clear their files out every 60 days. Four months later, another phone call telling us we didn’t qualify for HAMP but they would try and put us in another program.
We followed their rules and the rep told us to make more money and then we would qualify for these programs.



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