Monthly Archives: May 2011

Mortgage industry fights to keep 3.5% down payments

A litany of mortgage industry players spoke in Washington Wednesday about the challenges of doing business in the current housing market. Additionally, they told the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, new regulations are doing more … Continue reading

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Home Loans: A Call to ARMs?

One of the signature loans of the housing boom—the adjustable-rate mortgage—is looking more attractive than it has in years. For some buyers, it may be an even better deal than a fixed-rate mortgage. ARMs typically offer buyers a lower rate … Continue reading

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Delinquencies on state HFA mortgages hit record high

The delinquency rate among loans from state housing finance agencies reached 7.5% at the end of 2010, up a full percentage point from the previous quarter and the highest rate on record, according to Standard & Poor’s. While analysts do … Continue reading

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Michigan appellate court reaffirms dismissal of RLUIPA equal terms, nondiscrimination, and unreasonable limitation claims, and denies untimely motion for reconsideration

Great Lakes Society (GLS), a religious organization that ministers to people with chemical sensitivities, initiated this case after the township denied its application to construct a 9,700 square foot building on a six-acre parcel of property located in a low-density … Continue reading

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Home Values Continue to Drop: An Update

Home values sank 3% in the first quarter resulting in a total drop of 8.7% over the past 12 months. Falling prices are prompting many economists to scale back estimates of when the housing market will hit bottom. The continued … Continue reading

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Group Criticizes Former HUD Secretary on Transfer Fees

With credit for funding construction loans tight and buyers still hesitating to pull the trigger on buying a new home, builders find themselves in a tough position: How to find money to build homes? Last summer, Freehold Capital Partners, a … Continue reading

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Boehner declares tax hikes ‘off the table,’ drawing White House rebuke

House Speaker John A. Boehner (R-Ohio) declared Tuesday that raising taxes is “off the table” in negotiations on deficit reduction, prompting a White House complaint that such “maximalist positions” do not lead to compromise. The White House also denounced Boehner’s … Continue reading

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