Foreclosures up again San Marcos Daily Record, TX By Anita Miller San Marcos — Properties listed for foreclosure on June 2 in the Austin Metro area, which includes Hays County, climbed higher than in any period since such activities began being tracked by the Foreclosure Listing Service in early 2000. … Read Flull Article…
Report: Texas banks outperform the others – Birmingham Business Journal A new report from merger and acquisitions advisory firm Sheshunoff and Co. Investment Banking says Texas banks are outperforming the rest in the nation despite the economic downturn. The report does concede that new foreclosures and job losses will Source: www.bizjournals.com
High-end properties are increasingly coming under the sort of pressure once reserved for moderate homes. In fact, as slowing price declines fuel hope that the real estate bottom is near, other signs suggest the worst is on its way for the region’s upscale market. Continue Tags: luxury+homes, high+end+properties, short+sale
Austin-based Guaranty Financial Group Inc. missed a Thursday deadline set by federal regulators to submit a strategy for its future. Last month, the Office of Thrift Supervision ordered Guaranty to submit the plan. The regulator said Guaranty and its subsidiary Guaranty Bank had “engaged in unsafe and unsound banking practices.” Regulators also said the company’s [...]
At Bank of America, the nation’s largest mortgage servicer, more than 60 percent of approved short sales do not close, which is why the bank wants to streamline the process, said BofA Senior Vice President David Sunlin by telephone Thursday. Sunlin, who manages short sales for the bank, said the bank’s first goal still is [...]
More workers aren’t getting paid – Austin American-Statesman Antonio Melo thought he had a good gig going, putting up drywall and cinder block at a construction site for some stylish East Austin condos. But then the checks stopped arriving. After going without pay for three weeks, Melo and 10 others halted Source: www.statesman.com
Congress passes anti-foreclosure bill – News 8 Austin WASHINGTON — Congress has passed legislation that encourages banks to spare homeowners from foreclosure, after the industry helped scuttle a tougher measure. The House voted 367-54 to approve the Helping Families Save Their Homes Act. The Senate Source: www.news8austin.com
WASHINGTON (AP) — Housing construction plunged to a record low in April as a steep drop in apartment building offset a rebound in single-family construction. Permits for new projects also hit a new low. Housing construction, permits hit record lows | EUREKA REALTY NETWORK.
Austin-based Guaranty Financial Group Inc. faces a crucial deadline this week that could determine whether it will remain independent, have its assets liquidated or be absorbed by another financial institution. On Thursday, Guaranty is due to submit a plan for its future to the Office of Thrift Supervision. The regulator has said Guaranty has “engaged [...]
Well, not quite. Short sales have been underutilized, real-estate agents say, because they’re time consuming. It can take months to get a bank to sign off on a short sale, which is a lot longer than some buyers are willing to wait. Realtors say that banks also try to reduce their commissions on a short [...]
