In an attempt to help more consumers who are facing foreclosure, Chase has streamlined their requirements in order to expedite their short sale process. We will cover the basics on the process and timeline in this post. Chase will let you start the … [Read more...]
Impact of Rising Mortgage Rates on Home Sales
Mortgage rates will continue to rise. They will probably be near 5 percent by this time next year, compared to the 3.5 percent average of the past 12 months. The rates will be even higher in 2015 and 2016. Certainly, rising rates are bad news for … [Read more...]
Administration extends HAMP and HARP programs two years
The Obama administration has extended its Making Home Affordable program, which includes two sub-programs designed to help homeowners refinance so they can stay in their homes. Making Home Affordable includes the Home Affordable Modification Program … [Read more...]
Most of Virginia sees unemployment drop
Nine of Virginia’s 11 metropolitan areas had unemployment drop in April — only Bristol and Danville saw it rise (by 0.7 percent and 0.1 percent, respectively). Statewide, Virginia had 5.0 percent unemployment, down from 5.2 percent in … [Read more...]
April Buyer Traffic—Up; Seller Traffic–Constant
Strong buyer demand for homes continued to outpace supply in April. The Buyer Traffic Index hit a high of 72, signifying increasing demand. However, the Seller Traffic Index, an indicator of supply conditions, was unchanged at 41. Source: April … [Read more...]
Congrats to Bob Northern of Richmond
Bob Northern of Bob Northern and Company in Richmond is the first winner of a $100 Amex gift card for taking our 2013 member survey. If you haven’t taken the survey yet, you have through the first day of summer: June 21. (Technically, 11:59 PM … [Read more...]
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