Assistance Comes to Residents Across Nation

Assistance Comes to Residents Across Nation

If you are struggling to avoid foreclosure, then the U.S. Department of the Treasury, along with the National Association of REALTORS®, has good news for you.

At the recent Making Home Affordable outreach event held in Chicago, Illinois, industry leaders discussed the state of today’s market. These community events are just part of the NAR’s actions in helping homeowners deal with today’s difficult economy and housing market.

Real estate professionals and lenders discussed at the Chicago event how homeowners can reach out for help as well as what to expect during a short sale. Events have also been held in Atlanta, New Orleans, and Indianapolis.

Read More on Realty Times…

Are you a struggling homeowner? Check out our Avoiding Foreclosure section for more resources and tips.

US Mortgage Rates Drop to New Record Lows

How low can they go? US Mortgage Rates Drop to New Record Lows

The average U.S. rates on fixed mortgages dropped again to record lows, giving would-be buyers even more incentive to brave the housing market.

Freddie Mac reported Thursday that average rate on the 30-year loan fell to 3.56 percent (down from 3.62 percent last week and the lowest since long-term mortgages began in the 1950s).

The average rate on the 15-year mortgage dropped to a record low of 2.86 percent (below last week’s previous record of 2.89 percent).

The rate on the 30-year loan has fallen to or matched record low levels in 11 of the past 12 weeks.

These low rates make it an excellent time to buy or refinance for those who are able. Check out our Homeownership Simplified section a for information & tips on buying a house in Washington State as well as our handy calculators to figure out potential mortgages, closing costs, and more!

Home Ownership Matters

Home Ownership Matters

Home ownership has a significant impact on net worth, educational achievement, civic participation, health, and overall quality of life. And, home ownership helps create jobs—lots of them—right here at home.

Home Ownership matters…to people, to communities, and to America. Why?

  • For every two homes sold, one job is created in the U.S.
  • Each purchase generates as much as $60,000 in economic activity over time.
Are you thinking of buying a home? Check out our Homeownership Simplified section a for information & tips on buying a house and our handy calculators to figure out potential mortgages, closing costs, and more!

Guiding you through foreclosure-compensation maze

Guiding you through foreclosure-compensation maze

If you’re a victim of banking abuses during the foreclosure crisis, the government says it will make sure you receive compensation from your bank. It’s a simple idea. But for victims, determining who’s eligible, how to apply, and when you might get a check in the mail isn’t simple at all.

There are two separate government efforts: the National Mortgage Settlement and the Independent Foreclosure Review.

While both share the goal of providing some compensation to homeowners who were harmed by their banks’ abuses or errors, the two have very different approaches.

Read Full Story on The Seattle Times…

Are you a struggling homeowner? Check out our Avoiding Foreclosure section for resources and tips.

Double digit rise in King County home prices

Double digit rise in King County home prices

King County house prices saw a double-digit increase in June — the first time that’s happened in nearly five years, according to statistics released Thursday by the Northwest Multiple Listing Service.

The median price of single-family homes sold last month was $380,000, up 10.1 percent from June 2011.

Read More on The Seattle Times…