Real Estate News – July 13, 2011



Defaulting home owners who live in houses worth more than $417,000 were found, on average, to be able to stay in their homes mortgage-free without fear of foreclosure for more than a year. However, home owners in homes worth less than that are often evicted in 300 days or less, according to an analysis by ForeclosureRadar (via REALTORMag): http://bit.ly/o5J6HG


As huge numbers of foreclosed homes continue to work their way through the real estate pipeline, another problem is blossoming — mold (via npr.org): http://n.pr/q5hqov


Prospective home buyers and sellers could run into additional roadblocks in coming months as new mortgage regulations set to take effect this fall filter into the system. Although the new limits on conforming loans—mortgages eligible for government guarantees—won’t officially roll out until October 1, buyers and sellers alike could feel the pinch of even tighter credit availability much sooner as lenders start gearing up for lower loan caps (via money.usnews.com): http://bit.ly/r3oavG


A House subcommittee approved a group of six Republican-backed bills on Tuesday that are designed to shrink Fannie Mae and Freddie Mac’s role in the housing market (via REALTORMag): http://bit.ly/p7zUbF

Posted in Blog, Real Estate Law