Home Prices Up in July in 17 Cities
Home Prices Up in July in 17 Cities
By Sarah Halzack, Washington Post, September 27, 2011
Home prices rose in 17 U.S. cities in July, according to the Case-Shiller Home Price Index, a closely watched measure of the health of the nation’s housing market. Nationally, prices were up 0.9 percent from the previous month, exceeding analysts’ expectations.
Freddie Mac Loan Deal Defective, Report Says
By Gretchen Morgenson, New York Times, September 27, 2011
Freddie Mac used a flawed analysis when it accepted $1.35 billion from Bank of America to settle claims that the bank misled it about loans purchased during the mortgage boom, according to an oversight report released on Tuesday.
Detroit's Riverfront Towers Faces Foreclosure After $55M Mortgage Default
By Robert Snell, Detroit News, September 27, 2011
The Riverfront Towers apartment complex faces foreclosure after its owners defaulted on a $55 million mortgage, and lawyers fear the landmark high-rise, where civil rights icon Rosa Parks died, could fall into disrepair.
When Investing in Foreclosures, Turn-Key is Key
By Diana Olick, CNBC, September 27, 2011
It was just hitting 105 degrees in Dallas when Phillip Carter herded a group of Australian investors onto a bus and headed out to see some previously foreclosed properties. Cowboy to cowboy, Carter tells them the Dallas market is ripe for profit, as rental demand surges and rents head higher. The difference in his business model is that the cash is ready to flow, immediately.