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Real Estate Chart of the Day
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New Short Sale rules for Fannie Mae and Freddie Mac require 30-day approvals.
Banks have started to offer more than $35,000 in cash to delinquent homeowners so that they can sell their properties for less than they owe.
Fannie Mae has been given the authority to proceed with a short sale or complete a deed in lieu of foreclosure by five mortgage insurers, without needing to secure their approval.
According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings dropped 29 percent nationwide on an annual basis in June.
There's 11 days left to claim the government's home buyer tax credit and if you're among the thousands of buyers with their sights on foreclosures, the timing may be perfect. There's been 257,000 new bank REOs since January.
Foreclosure-related filings topped 300,000 last month, according to foreclosure-tracking firm RealtyTrac. Nationwide, 1 in every 418 households was served some form of foreclosure notice but -- as always -- foreclosures are more common in some areas than others. In February 2010, 4 states accounted for more than half of the country's foreclosure-related activity
