Spain is so desperate for homebuyers, the country will give foreigners residency just to buy into the market. If you buy a home for more than 160,000 euros you get residency, but not a work permit.-HousingWire, jgaffney@housingwire.com.
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Real estate auctions are growing in popularity. I just read an article in Housingwire about a company in the NE doing auctions in the Carolinas. Now that I am in a real estate auction company, it seems more people are interested in it than I remembered seeing. Our company, RealEstateAuctions.com is holding a statewide auction in January. Check out our website for more information on auctions around the nation.
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Kerri Anne Panchuck in HousingWire says:
Refi's make up 81% of all mortgage applications right now. Adjustable rate mortgages make up 4% and are continuing to rise in popularity.
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According to cmlynski in HousingWire,
Bernanke said tighter lending conditions have been a major factor in the housing slowdown.
"It seems at this point the pendulum has swung too far the other way, and that overly tight lending standards may now be preventing creditworthy borrowers from buying homes," he recently said.
I reported a while back that banks were raising their acceptalbe credit score level. The question is will the banks loosen up their requirements? I think not until the regulations lighten up and the banks are allowed to charge more interest so they can make money on the loans. Basel III regulations are depressors for the banking industry.
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MHopkins at HousingWire reports: There has been a jump in payment delinquencies on recently refinanced mortgages. This problem will be with us through 2013.
Shadow inventory fell to 2.3 million homes.
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Will the fiscal cliff end the mortgage deduction?
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