The September 2010 issue of Your Home is now available. Customize it and send it to clients or post to your Web site.

The 2010 Media Kit and Editorial Calendar for The Residential Specialist magazine is now available.

Loan Modification Process Can Be Tough
POSTED ON: Wed, Sep 1, 2010
Mortgage lenders more often fail to deliver on certain services during the loan modification process than during the loan origination process, according to a J.D. Power and Associates survey. Those services include providing and meeting a time frame for approval; not asking for information more than once; explaining the loan modification process during the application phase; and providing status updates.

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U.S. Home Prices Post Modest Improvments
POSTED ON: Tue, Aug 31, 2010
U.S. home prices rose 4.4 percent in the second quarter of 2010 over the previous quarter and were 3.6 percent higher than a year ago, according to the latest S&P/Case-Shiller Home Price Index. In June, the 10-City and 20-City Composites recorded annual returns of 5.0 percent and 4.2 percent, respectively. Fourteen of the 20 metro areas surveyed also posted price gains from a year ago.



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Negative Equity Rates Decline
POSTED ON: Mon, Aug 30, 2010
National negative equity rates declined for the second consecutive quarter, according to new data released by CoreLogic. Nearly one in four residential properties with mortgages (23 percent) were in negative equity at the end of the second quarter of 2010, representing 11 million homes, down from 11.2 million in the first quarter.

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Q2 Mortgage Delinquencies and Foreclosures Fall
POSTED ON: Fri, Aug 27, 2010
The delinquency rate for mortgage loans on residential properties dropped to 9.85 percent of all loans at the end of the second quarter, down from 10.05 percent from the previous quarter but up from 9.24 percent from a year ago, according to the Mortgage Bankers Association’s latest survey.

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What's Your Transit Score?
POSTED ON: Thu, Aug 26, 2010
Consumers now have several tools available to help them understand their transportation options as they consider where to live and work. Walk Score has launched Transit Score, custom commute reports and a home and transportation costs calculator to help consumers gauge the proximity of public transportation to a selected address, their commuting options and associated costs.



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New-Home Sales Continue to Slide
POSTED ON: Wed, Aug 25, 2010
Sales of new homes fell 12.4 percent in July to a seasonally adjusted annual rate of 276,000 and were 32.4 percent below the 408,000 new homes sold in July 2009, according to the latest data released by the U.S. Commerce Department. The median sale price of new homes was $204,000 in July, a decline of 4.8 percent from July 2009. An estimated 210,000 new homes were available for sale at the end of July, representing a 9.1 month supply at the current sales rate.

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July Home Sales Tumble, Prices Edge Higher
POSTED ON: Tue, Aug 24, 2010
After the drop-off in pending sales reported by NAR a few weeks ago, it comes as no surprise that existing-home sales would see a similar fate. Existing-home sales dropped 27.2 percent in July to a seasonally adjusted annual rate of 3.83 million units from 5.26 million in June, and they were 25.5 percent below the 5.14 million sold a year ago, NAR reports.

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Many Americans Delay Home-Buying Plans
POSTED ON: Mon, Aug 23, 2010
While a majority of Americans (72 percent) say they still believe in the inherent value of homeownership, not everyone is sold on the idea. A new Trulia survey finds that more than one-fourth of Americans who currently rent (27 percent) do not plan to ever own a home. More than two-thirds (68 percent) of renters who do plan to purchase a home someday say they do not plan to make a purchase for at least two years. Renters with home purchasing plans concede that changes in their personal circumstances could persuade them to buy a home sooner rather than later. Tipping points include being able to save enough money for a down payment, getting a new job or promotion, and interest rates staying low or getting even lower.

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U.S. Census Bureau, HUD Track Housing Trends
POSTED ON: Mon, Aug 23, 2010
U.S. homeowners paid a median of $1,000 in monthly housing costs in 2009, compared with $808 for renters, according to the 2009 American Housing Survey released by the U.S. Census Bureau and HUD. However, renters usually paid a higher percentage of their household income on housing costs than did owners (31 percent compared with 20 percent).



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Mortgage Closing Costs Climb
POSTED ON: Fri, Aug 20, 2010
For the fourth time in the last five years, New York and Texas are the most expensive states in mortgage closing costs, according to a Bankrate.com survey. Utah, California and Alaska also were among the top five. Meanwhile, Arkansas had the least expensive mortgage closing costs, followed by North Carolina, Iowa, Montana and Wisconsin.



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