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Housing bottom in 2013?	Uncategorized	5/18/2012 7:44 AM
NAHB – housing affordability up Nationwide housing affordability hit a new record high for a second consecutive quarter in the first three months of this year, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), released today. Yet tight lending conditions continue to pose a major obstacle to many prospective [...]
Banks have to raise $566 billion	Uncategorized	5/17/2012 8:03 AM
Short sales help Detroit The rise of short sales in Metro Detroit is helping keep the number of foreclosures down, according to an analyst for a foreclosure tracking company. Half of the states in the nation saw foreclosure activity rise in April, but Michigan continued to rack up double-digit losses — experiencing a 28% decline [...]
Foreclosures down – a bad thing?	Uncategorized	5/16/2012 7:29 AM
BOA offers $30,000 for short sales Bank of America (BOA) is offering some struggling homeowners payments of up to $30,000 if they sell their homes in a short sale and avoid ending up in foreclosure. Under the plan, Bank of America will offer homeowners so-called relocation payments of between $2,500 and $30,000 if they sell [...]
Decline in foreclosure activity in California hurting the market	Uncategorized	5/15/2012 11:57 AM
Detroit sales down, prices up The best inventory on the market in metro Detroit — where foreclosures and short sales account for 36% of the listings — attracts multiple bids and pushed the median sales price to $70,000 last month, up 18.6% from $59,000 in April 2011, according to Realcomp, a Farmington Hills-based multiple listing [...]
To buy or not to buy?	Uncategorized	5/14/2012 8:46 AM
ResCap filed for bankruptcy Residential Capital (ResCap), the besieged mortgage unit of Ally Financial, filed for bankruptcy. “The action by ResCap will enable Ally to achieve a permanent solution to its legacy mortgage risks and put these issues behind us,” said Ally CEO Michael Carpenter. “This action, along with pursuing alternatives for the international businesses, will [...]

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