A New Most Stupid Solution for Foreclosures

A new MOST STUPID “solution” for foreclosures comes from the lovely nearly bankrupt state of California that is run by a horde of irresponsible 2 year olds (my apologies to 2 year olds everywhere). California wants to use eminent domain authority to wipe out mortgage debt for homeowners, but the homeowners get to keep their home with greatly reduced mortgage debt. It’s amazingly stupendous stupid ideas like this that make my head explode! Not to mention why mortgage underwriting is only going to get much tougher!


From Lonnie Glessner, America’s Mortgage LLC * Office: 303-993-2367 * Cell: 303-881-6374 * Lonnie@EndingFinancialInsanity.com

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Record Low Mortgage Rates Helping To Stir The Housing Market

In Freddie Mac’s results of its Primary Mortgage Market Survey®, the average 30-year and 15-year fixed-rate mortgage hitting new all-time record lows. 30-year fixed-rate mortgage (FRM) averaged 3.53% with an average 0.7 point for the week ending July 19, 2012, down from last week when it averaged 3.56%. 15-year FRM this week averaged 2.83% with an average 0.6 point, down from last week when it averaged 2.86 percent.

Reblog from NAT News Thanks to DESIREE BANKA North American Title Company Cell: 303.521.5966 dbanka@nat.com

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Denver luxury home market hot in June

Denver’s luxury home market for June was a lot like the record-setting temperatures: hot.

There were 63 homes and condos with a price tag of more than $1 million that sold in metro Denver in June, a significant 37 percent increase over June 2011, according to Kentwood Real Estate’s most recent report based on Multiple Listing Service data.

“It’s been amazing,” said Edie Marks, broker associate for Kentwood. “Not only are we selling properties, we’re … Continue Reading

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Rents rocket 10.9% in Denver over last year

The average asking price for rental housing in the Denver area was up 10.9 percent in June from a year earlier, the third-biggest gain among large U.S. markets in that period and twice the nationwide increase, according to a report Tuesday from Trulia Inc.

Denver’s rent increases over the 12-month period were exceeded only by …

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Young adults’ hesitance is reshaping home-buying market

Michelle Ackerman, a real estate broker for Redfin in metro Denver, said about 30% of her customers are millennials, who are particularly well-informed about the housing market and have researched the sellers and their properties thoroughly. Ackerman said that in many cases, her millennial clients borrow money from their parents to meet the 20% down-payment requirement, leave the market for a year to save up, or look at more modest options. “I think that what they are looking for has changed,”

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Denver-area home prices up 6.5% in May from 2011

Another month, another shot of good news about metro Denver home prices, as the most recent CoreLogic home price index (HPI) report shows Denver’s home sales prices continuing to rise. The Denver-Aurora-Broomfield area saw home prices increase by 6.5% in May compared with May 2011. That number included distressed sales. That’s at least the fourth month in a row metro Denver’s HPI has posted year-over-year positive gains.

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