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Mortgage Raleigh and foreclosures. Many markets across the country are seeing fewer foreclosures. That’s because foreclosure inventory has plunged 35 percent nationally from a year ago, but housing experts aren’t ready to say the foreclosure crisis is completely behind the nation quite yet. Completed foreclosures fell 9.9 percent year-over-year, but on a month-to-month basis completed foreclosures ticked up 2.7 percent in June compared to May, according to CoreLogic’s June National Foreclosure Report, which provides a snapshot of completed foreclosures and the foreclosure inventory. There were 54,000 completed foreclosures in June – still elevated compared to historical averages of about 21,000 per month between 2000 and 2006. In June, about 648,000 homes were in some stage of foreclosure, known as foreclosure inventory, compared to 1 million last year at this time, CoreLogic reports. Foreclosure inventory has fallen 35 percent year-over-year and the foreclosure inventory now makes up 1.7 percent of all homes with a mortgage including mortgage Raleigh. It represents the 32nd consecutive month for year-over-year declines. “While 32 straight months of year-over-year decline in the foreclosure rate is cause for celebration, the total number of homes still in the foreclosure process remains almost four times as high as the average in the early 2000s,” says Mark Fleming, chief economist for CoreLogic. “Additionally, there is concern over whether or not we can maintain this pace of improvement as the foreclosure inventory becomes more concentrated in judicial states with lengthier, more complex processes and timelines.” Source: CoreLogic. This represents similar statistics to those effecting mortgage in Raleigh NC.

Four draft appraiser-specific policy documents that will be part of the Federal Housing Administration’s (FHA) Single Family Housing Policy Handbook (SF Handbook) were posted for review and feedback. This posting is a continuation of FHA’s progress toward a consolidated, authoritative SF Handbook that will make it easier for stakeholders to do business with FHA. The four drafts posted will work in concert with the appraisal requirements in the SF Handbook Application through Endorsement section and contain:
•FHA Appraiser Roster eligibility requirements in the draft Doing Business with FHA-Other Participants in FHA Transactions-Appraisers document;
•Appraiser oversight and compliance policies in the draft Quality Control, Oversight & Compliance-Monitoring of Other Participants Appraisers document;
•Appraiser requirements for performing an FHA appraisal, including property eligibility requirements, in the draft Appraiser and Property Requirements for Title II Forward and Reverse Mortgages document; and
•Forms and data delivery requirements in the draft Appraisal Report and Data Delivery Requirements guide.

Feedback from stakeholders on the drafts will be accepted through September 2, 2014. Visit FHA’s Drafting Table SF Draft Handbook Appraiser Requirements Web page here ( for detailed descriptions and to access each draft document. FHA specifically encourages FHA Roster appraisers, and lender staffs that underwrite appraisals, to review and submit feedback. Source: FHA

Mortgage Raleigh and home loans Raleigh – The S&P/Case-Shiller home price index, a closely watched measure of home values, posted a 9.3% annual increase in its May reading, down from the 10.8% rate in April. The rate of increase was as high as 13.7% in November before slowing every month since. The good news for homeowners is that the index has now been up every month over the last two years — after posting drops almost every month over the previous five years. And some experts say the current growth is better for the market, because rapid price increases can keep some buyers on the sidelines. “Today’s Case-Shiller data is consistent with the slow glide-path down towards a more normal housing market,” said Stan Humphries, chief economist for real estate Web site Zillow. “Almost across the board, lower-priced homes have been appreciating more quickly than the most expensive homes, a welcome reversal from prior years.” Prices rose in all 20 cities measured by the index, and nine of those markets posted double-digit percentage gains. A drop in foreclosures and unemployment rates and pent-up demand for people who had wanted to buy homes have combined to help lift home prices. A recovery in home sales and prices has been a major driver of the rebound of the U.S. economy so far this year, as the jump in prices has increased household wealth. The price increases and low rates also helped many homeowners refinance and lower their home payments. But even with two years of increases, prices are still 17% below the peak reached at the height of the housing bubble in early 2006. Source: CNN/Money

Mortgage Raleigh NC

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Edyta Rhodes has written 25 articles on Service 1st Mortgage

I am an experienced mortgage broker, Raleigh-based with access to top national lenders. I have over 10 years experience, so I know how to design your mortage loan to fit your overall financial picture. I guarantee to find the best mortgage rate for you. You can find out more about me on Google+ Or you can email me at

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