Wright Realtors Real Estate News - May 2012

What's New at Wright Realtors

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Apr 20

Quarter One 2011 top 20 cities with highest rate of foreclosures

Results are in for quarter one of 2011, 19 of the the 20 highest rates of foreclosure metro areas were located in "nonjudicial" regions where the foreclosure process stays out of the court system. Foreclosures in those states move much quicker. Cities in California made up 11 of the top 20 greatest foreclosure areas. Although Las Vegas held on to the number one spot in quarter one of 2011 by having the most home purchasers who wagered on a home and lost. Below are the top 20 cities with the greatest foreclosure rates. Cape Coral-Fort Myers, Fla was the only metro area in a judicial foreclosure area. New Article Apr 20, 2011


Apr 13

FHA Increasing Prices April 18th

The preponderance of home buyers in today's market who do not have a 20% down payment to buy a home are obtaining an FHA insured loan. Also many home buyers, specifically, those having a FICO score of 720 or higher could have spent less money by getting a conventional mortgage and private mortgage insurance (PMI). Especially now sense the FHA is raising their costs for a second time in under six months,

While most often it's the job of the loan officer to know their way around mortgage lending, and with today's market turmoil while the FHA is taking additional steps to cut down on the volume of mortgages they insure, it becomes important for buyers to comprehend two basic premises about private mortgage insurance. For example, beginning April 18th, PMI can: New Article Apr 13, 2011

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