With lots of news about loan modifications and lenders not modifying loans at the rate some people think the lenders should, I started thinking once again about what makes a loan affordable. There is a percentage of borrower gross income that lenders generally consider sufficient for making a loan affordable, the percentage range is [...]

HousingWire reports:
Higher-priced houses are taking a greater share of foreclosure activity, with houses priced in the top tier accounting for nearly one-third of all foreclosures in July 2009, according to new data from Zillow.com.
“Top-tier” homes in terms of local values accounted for 30% of foreclosures in the month.
Houses in the bottom third and middle third [...]

From Business Journal:
“Nearly 23 percent of residential loans in Florida were delinquent or in foreclosure in the second quarter, according to a survey by the Mortgage Bankers Association.
Florida has the highest rate in the nation, followed by Nevada, Arizona and Michigan.”
That’s fairly close to one out of four properties and it makes me think Florida [...]

It crossed my mind the other day that we are into July and our real estate market is currently kinda slow. Well, maybe not kinda slow, but really, really slow. July is supposed to be primetime for real estate sales with the kids out of school and longer days making it possible to [...]