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Author Archives: Esther Cho

Survey: Views on Homeownership from Largest Ethnic Groups in U.S.

When it comes to homeownership, the three largest ethnic groups in the nation share similar visions and attitudes, according to a survey from Better Homes and Gardens Real Estate. The survey included three groups--Caucasians, African-Americans, and Hispanics--with 400 respondents represented for each group. When asked about location, the majority of respondents from each group showed a preference for suburbs, with 59 percent of African Americans in this category, 55 percent of Caucasians, and 50 percent of Hispanic Americans.

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Fannie Mae Announces New Effort to Streamline Short Sale Process

In an effort to speed up the short sale process, Fannie Mae is increasing early communication with real estate agents by asking listing agents to register accepted short sale offers with the GSE. By registering offers, Fannie Mae says there will be greater transparency in the process and it will also allow the GSE to be more proactive when working with servicers to complete short sales. Through Fannie Mae's site Homepathforshortsales.com agents can register their short sale offers.

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Oklahoma Brokerages Selected to Join RealtyTrac Network

Two Oklahoma real estate brokerage companies were added to the RealtyTrac Network (RTN), RealtyTrac announced Tuesday. Prudential Alliance Realty and Prudential Detrick Realty joined RTN, which functions as a licensed network for leading independent and franchised brokerages.

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New York AG Sues HSBC, Alleging Failure to Follow Foreclosure Law

HSBC faces a lawsuit from New York Attorney General Eric T. Schneiderman, who accused the bank of failing to follow a state foreclosure law that mandates a settlement conference for past due borrowers. In a statement, Schneiderman announced he filed a lawsuit against HSBC, alleging the bank repeatedly failed to file a Request for Judicial Intervention (RJI) in a timely manner. According to Schneiderman, delays in filing the RJI increase the risk that homeowners will lose their home and leads to a backlog of foreclosure cases.

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CoreLogic: Home Prices Post 12.1% Annual Gain in April

Home prices climbed higher for the 14th straight month and displayed another impressive double-digit annual gain, according to CoreLogic's Home Price Index (HPI) report. When including distressed sales, prices were up 12.1 percent in April compared to a year ago CoreLogic reported the increase in April marks the biggest annual gain since February 2006. From March to April, home prices ticked up by 3.2 percent.

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Nonprofit Warns of Misleading Short Sale Program Claims

A nonprofit advised distressed homeowners to beware of misleading claims concerning short sale programs that guarantee owners they can stay in their home and buy it back later at a discounted price. The Heartland Coalition, which offers the HEART program, said that such short sale programs have a very small likelihood of receiving approval.

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AmeriBid Hires Partner as Company Looks to Expand

AmeriBid LLC, aa live and online auction company with a focus on real estate, selected Clay Barnes to lead as partner. With 25 years of industry experience, Barnes is responsible with overseeing essential preparation activities as AmeriBid grows domestically and abroad.

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