The resilience of the housing market is such that it will likely survive the next recession without home prices taking a substantial hit, according to a new report from title insurance firm First American Financial Services. “While the housing crisis is still fresh on the minds of many, and was the catalyst of the Great
Facebook pledges $1 billion to combat Bay Area housing crisis
Facebook is the latest big tech company to pledge money to address the shortage of affordable housing affecting the communities its workers live in. The company says it’s committing $1 billion towards a variety of initiatives meant to tackle the problem, following similar pledges by Google and Microsoft. The initiatives come at a time when
1 in 10 homeowners still underwater, says Zillow
Both urban and suburban communities have a significant share of homeowners in negative equity five years into the recovery, according to the new second quarter Zillow Negative Equity Report.
Is marijuana to blame for Denver’s housing crisis?
Although marijuana has had a positive effect on the local economy, the state’s largest city, Denver, has been hit by a housing crisis with many residents finding themselves priced out of the market due to rising home prices.
Homeowners Haunted by Old Foreclosure Debt
Many people who lost their homes to foreclosure between five and seven years ago have worked hard to repair their credit scores. Unfortunately just as things are getting better some are being chased by debt collectors for sums running into many thousands of dollars. They are being chased for the difference between the amount owed
Number of Homes Underwater Falls to Just Over 10%
During the second quarter of this year, nearly 950,000 homes went back into positive equity. This now means the total number of residential properties with equity is now 44 million. The level of borrower equity in the United States rose by approximately $1 trillion during the second quarter of 2014, compared to the previous year.
HAMP Borrowers Facing Hike in Interest Rates
During the recent housing crisis, at risk homeowners took advantage of the federal government’s emergency plan to help avoid falling into foreclosure. Unfortunately now many could be facing a new crisis, which is an increase in interest rates. According to the article in aol.com, banks began sending out notices in June, warning of interest rate