Monthly Archives: November 2009

Forecloosure Activity Changes, but Reno/Sparks Still in Top Ten

Some of the nations leading foreclosure markets have a decrease in foreclosure activity, but the Reno Sparks area is still number nine nationwide, according to RealyTrac.  Rising unemployment and mortgage resets are blamed for the changes. New foreclosure hot spots … Continue reading

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Near Record Low Mortgage Rates

Mortgage rates are at near record low levels. And, for our own re-fi, – would you believe the bank is concerned that I mis-spelled the name of my second cousin, fourth removed and forgot to mention the $15.00 that I … Continue reading

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Toll Calls FHA Lending “Train Wreck”

Robert Toll, CEO of Toll Brothers home builders calls FHA lending a “train wreck”. He said that it will soon take the place of the subprime mortgage crisis.  He anticipates FHA will soon be clamoring for it’s own bailout.  FHA … Continue reading

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The ‘Real’ Jobless Rate: 17.5% Of Workers Are Unemployed

We’re told that Nevada’s unemployment rate is about 13% and the national rate stands at 10.2%.  But some have suggested that there is a large segment whose unemployment compensation has run out and have given up even looking for work.  … Continue reading

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State Sued Over Mortgage Modification Licensing

According to this Las Vegas Sun article: A law firm active in Henderson and Las Vegas is suing the state over rules requiring licensing of non-attorney employees working on mortgage loan modifications. Apparently, the state wants the other employees of … Continue reading

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Short Sales Increase in Reno Market

Banks are beginning to recognize that short sales are a less costly way to dispose of distressed real estate than foreclosure.  The numbers in the Reno/Sparks reflect this.  This column in the RGJ states: At the beginning of 2009, only … Continue reading

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Foreclosures Drop in October

Nevada saw a decline in foreclosure-related activity in October.   It was down by more than 26 percent from September. Activity in Nevada was lower by more than 4 percent compared to the same month last year. Overall foreclosure-related activity … Continue reading

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