Realty Trac: Median Price of Distressed Homes up 18%



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The median price of distressed residential properties, which are those that are either in the foreclosure process or owned by a bank, jumped up by 18 percent year-over-year in October

CAR Applauds FHFA Decision to Conform Loan Limits



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The California Association of Realtors (CAR) has come out in support of the Federal Housing Finance Agency’s decision to keep the 2015 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac at $417,000

Research Shows It Takes More Than a Decade To Save for a Down Payment



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First-time buyers have a whole lot of saving to do — possibly more than a decade of saving for a home purchase. It can take, on average, 12.5 years for first-time buyers to save a 20 percent down payment

Is Debt The Biggest Barrier To Home Ownership?



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Debt — like student loans and car payments — can create the biggest barrier to home ownership, more so than saving for a down payment, according to a new analysis by RealtyTrac.

More Retirees Fail To Pay Off Their Mortgages



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A new Census Bureau report shows an alarming rate of older households carrying home debt well into retirement, and the amount of debt they’re carrying has risen over recent years.

15 Percent of all Mortgaged Homes Still Underwater



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Home appreciation has slowed drastically since last year’s rapid rise, and for some home owners, prices just haven’t risen enough. That leaves many seriously underwater, owing more on their mortgage than their home is currently worth.

Detroit Foreclosure Auction Attracts $3M Bid for 6,000 Crumbling Homes



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Detroit is on a mission to unload its blight, with plans to foreclose on one of every five properties in default in the city. Last week, in a mega-auction, one bidder offered up $3.2 million for a bundle of more than 6,000 foreclosures, which equates to about $500 per property.

Post-Foreclosure Hell: Banks Still Chasing Ex-Homeowners Years Later



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More banks are getting aggressive in pursuing deficiency judgments, finding that the proceeds of foreclosure sales may not have been enough to cover the amount of the loans, plus penalties, legal bills, and other fees.

New 15-Year ‘Wealth-Building’ Mortgage for Low-Income Buyers?



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Two mortgage executives are hoping to overhaul the 15-year mortgage, making it more readily available to low and moderate-income people. They say the changes will help borrowers build equity at a much faster pace than they would with a standard loan.

Not Even Ben Bernanke Can Refinance His Mortgage



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Ben Bernanke, speaking at a conference in Chicago on Oct. 2, recently admitted that he “recently tried to refinance [his] mortgage,” but was “unsuccessful in doing so.”