States and municipalities may be inadvertently putting in roadblocks and costing taxpayers more when they approve policies that prolong the foreclosure process, such as by extending mediation services, Alfred Pollard, general counsel for the Federal Housing Finance Agency, testified at a House panel on Monday.
A high number of foreclosures continue to beat down on several housing markets. For six years, Nevada has held the No. 1 spot for highest foreclosure rate in the country and still does, despite reaching a 58-month low in foreclosures in February, according to the most recent data from RealtyTrac.
Large banks have made big strides in the last three years in selling and modifying their bad loans stemming from sour commercial real estate deals and now are even starting to pick up lending once again in the sector, The Wall Street Journal reports.
Oprah Winfrey sold her New York City penthouse for $7.9 million in less than a week, with buyers starting to line up as soon as the property hit the market on Feb. 22, according to media reports.
Does your cellphone’s quickly draining battery keep getting the best of you while you’re out on the job? The free mobile apps you use may be to blame, according to a new study by Purdue University and Microsoft.
February existing-home sales declined from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of REALTORS®. Sales were up in the Midwest and South, offset by declines in the Northeast and West.