Homes For Sale

If you suddenly find yourself in danger of losing your precious home due to economic difficulties or your own negligence, do not despair. There are several ways to avoid foreclosure. Your choices could vary, depending on whether you have a conventional loan, VA or FHA LOAN. Although foreclosures are not at historically high levels, the increase is still noteworthy. In order to avoid foreclosure, contact your lender immediately if you are having problems making your monthly payments. Explain your situation and provide them with financial information including your monthly income and expenses so they will be able to help you. Never abandon your property because you might not qualify to seek assistance if you do so.

You may also contact a HUD-approved Housing counselling agency that has information on programs and services offered by the government as well as private and community organizations.

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Mortgage servicing practices have taken center stage on Capitol Hill, with a flurry of bills being penned to make servicing reforms the law of the land.

Rep. Maxine Waters (D-California) has revised a bill she’s brought to the table several times before that would compel lenders to engage in what she says are “reasonable loss mitigation activities” for all delinquent homeowners.

Waters has long maintained that the servicing industry is “broken,” a view that has become the popular opinion in light of the robo-signing scandal last fall that brought illegal foreclosure filings to light and prompted widespread investigations into industry practices.

Those investigations resulted in cease and desist orders issued last week to a handful of residential mortgage servicers. Monetary

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After slowly rising for more than four straight weeks interest rates on government-backed and conventional mortgages finally dipped again over the last few days. The dip in rates is a welcome development to folks looking into refinancing. Rates on mortgages largely track the the yields on the 10 year treasury bond and with the recent dip in the stock market, yields on the 10-yr note have dropped as well. If you have been thinking about refinancing to a lower interest rate contact us in the sidebar right away to learn more about the programs available. Dips in rates normally don’t last long so now might be a good time to lock in a better rate.

Tech Crunch just posted that Zillow has filed for an IPO valued at 51.75 Million . While that number is simply a starting point and does not means much, it is interesting to note that Zillow has an accumulated deficit since its founding of over $78 Million. According to Tech crunch:

In terms of financial specifics, Zillow appears to be losing less money each year. The company lost $12.8 million in 2009, and lost roughly half of that ($6.7 million) in 2010. The company, which launched to the public in 2006, also revealed that as of December 31, 2010, it has an accumulated deficit of $78.7 million. Zillow forecasts that its revenue growth rate will decline in the future as a result of the “maturation” of its business.

A further look at the companys S-1 filing (and more specifically at the section on risk factors on page 11)  indicates two interesting facts:

The first is that the companys fastest growing source of revenue is from selling advertising to REALTORS as well as planned growth from advertising sales to mortgage lenders. Reeven

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