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25% of the Nation’s Foreclosures are in Florida

17 February, 2011

Just a quick update here…

The beleaguered Florida housing market remains beleaguered, according to an article by Toluse Olorunnipa from yesterday’s Miami Herald.  An amazing 25% of the nation’s foreclosure are in Florida. About 1 in 7 Florida homes with a mortgage was in foreclosure in the fourth quarter of 2010.  Nearly 1 in 5 homes are either in foreclosure or delinquent.

Michael Fratantoni, VP of the Mortgage Bankers Association commented:

“Paperwork issues” is a quaint way of putting it.  Kind of like

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Tennessee Housing: Low Mortgage Rates, Rising Military Foreclosures

16 February, 2011

The housing market of Tennessee is a story of conflicting plots – on the one hand, are rising numbers of homebuyers trying to take advantage of the low mortgage rates; on the other, are military families threatened with foreclosures as they fail to meet their monthly mortgage obligations.

Increased interest is being shown by homebuyers to Nashville foreclosure listings and to other residential properties all over the state. This should be good news for the region, particularly now that home buying activities are highly necessary to help the market recover. However, this good news is somewhat offset by another housing sector-related development – that of increasing number of military families losing their homes to foreclosures.

Foreclosures in Tennessee and in the rest of the U.S. inc

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Rookie agent tops the market in just 2 years

13 February, 2011

It was those brutal early years of dating that crystallized the concept ‘failure is not an option’ for up-and-coming Toronto sales rep Dave Elfassy. 

“Being 5 7″ and balding, I experienced rejection at an early age (when) dating,” he says with a laugh.     “A lot of people can’t handle rejection.” But he quickly came to realize that dating – and much else in life, including sales – is “a numbers game.”

If you make enough approaches to enough different people, eventually it will pay off.

Now married with two children, 34-year-old Elfassy’s never-say-die philosophy has helped him become a top contender on Toronto’s real estate scene, after just over two years in the business.

Asked how he managed to get off to a running start (he’s in the top one per cent of Ontario real estate salespeople, and is projecting 60-70 transactions for this year) he cracks himself up by answering, “It’s a fluke!”

I think not.

The truth is that he gives “110 per cent,” he says. “I went into real estate with everything I h

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Today’s Mortgage Rates for Saturday, February 12, 2011

12 February, 2011

It is Saturday, and while you may be off of work for the weekend, we are still here, trying to save you money with some of the lowest mortgage rates in the industry.  Mortgage rates are up lately due to bond market volatility and the still-rallying stock market.  Despite this, rates are still relatively low from a historical perspective.

Our Rates:

Fixed rate mortgages are still the most popular type of mortgage in the United States.  They allow borrowers to lock in today’s low rates for years to come.  Qualified borrowers are able to get a 30 year fixed rate mortgages at 4.625 percent with a 4.834 percent APR. 15 ye

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Mortgages and Housing: Smaller Loan Limits, Limited Private Label, 27% Underwater, Blackrock Jumbo Playa, Curbing Securitization, Zandi’s Vision, QRMs, Freddie’s Dead, ASF on Covered Bonds

11 February, 2011

 

Smaller Fannie Mortgage Limits Unlikely to Fuel Mortgage Bonds – By Jody Shenn – A cut in the size of mortgages that Fannie Mae and Freddie Mac can finance will likely increase banks’ holdings of so-called jumbo loans rather than boost sales of private home-loan securities, a Wells Fargo & Co. executive said. About

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