Pending Home Sales up 5th Straight Month in Colorado
FHA loans almost 50 percent of loans in Denver:
Government-insured FHA loans accounted for 47.5 percent the financing for all of the homes closed in the Denver area in June, reports San Diego-based DataQuick. To get a perspective on this, I turned to Peter Lansing, president of Universal Lending, and a sponsor of InsideRealEstateNews.com. Universal Lending probably does more FHA-insured loans than any other lender in the Denver area. Even during the go-go days of so-called liar loans, subprime loans, and alt-A loans remember those, Lansing stuck to his knitting and stayed away from toxic loan products, which is one reason I jumped at the chance when he offered to sponsor my blog.
Go to Article (Insiderealestatenews.com)
Federal mortgage help underutilized:
Aurora Loan Services of Denver has modified about 21 percent of eligible mortgages, while JP Morgan Chase, another big mortgage provider, is running at 20 percent. By contrast, the report showed Colorado’s largest mortgage servicer, Wells Fargo Home Mortgage, has modified 20,219, or 6 percent, of the 329,085 loans estimated to be eligible. Wells Fargo defended its record, saying it has modified nearly 220,000 mortgages outside HAMP during the first seven months of the year.
Go to Article (Denver Post)
Garfield County loses some of its rent payment assistance funding:
GARFIELD COUNTY, Colorado’s Garfield County housing officials have announced they will no longer be helping 76 local families make their rent payments as of Sept. 30, due to cutbacks in federal funding. We are not a county program, said Geneva Powell, head of Garfield County Housing Authority, which hands out $178,000 per month that comes from the U.S. Department of Housing and Urban Development (HUD). This is a federal program, with federal funds.
Go to Article (Glenwood Spr Independent)
Lafayette parents angry over landlord’s rule on kids:
He’s one of several residents at the Eagle Place Townhomes, a complex of 60 affordable housing rental units on Cimarron Drive off South Boulder Road, upset about a new policy that they say prohibits kids 15 and younger from playing outside unsupervised. A letter from property manager Emily Dickey, dated July 9, states that “all children are required to be supervised at all times.” The letter also warns parents that children found unattended outside will be sent home.
Go to Article (Denver Post)
Pending home sales up 5th straight month:
WASHINGTON – Boosted by low interest rates and bargain home prices, pending sales of existing homes rose in June for the fifth straight month, the longest streak of gains since 2003, a real estate trade group reported Tuesday. The pending home sales index rose 3.6 percent in June after an upwardly revised gain of 0.8 percent in May, the National Association of Realtors said. The overall index is 6.7 percent above June 2008′s level.
Go to Article (Denver Post)
