December 15, 2009
A few months ago, Fannie Mae announced introduced the First Look Initiative. For new home buyers who are looking to get the best deals on properties before investors get to them, this is good news.
Why?
Because the main goal of this new initiative is to encourage neighborhood stabilization by giving owner occupants a chance to inspect new listings before investors have a chance to submit purchase offers. Owner occupants are home buyers who plan on living in the home and keeping it as their primary residence.
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December 4, 2009
According to reports by TransUnion, mortgage delinquency rates increased for the 11th straight quarter. That means mortgage delinquency rates have increased steadily since 2006. The quarter rates reached an all-time high of 6.25%. It’s a 7.57% increase from the previous quarter’s average of 5.81%. This pertains only to mortgages that are 60 days or more past due.
Though delinquency rates are still increasing, they are slowly decelerating. This deceleration indicates that though rates are still climbing, they are doing so at a lower percentage compared to the previous quarter. If you compare the delinquency rate in the last quarter of 2008 to the first quarter of 2009,
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