Home Price Gains to Decelerate in Winter
August marks the 18th consecutive month of rising home prices, according to FNC’s Residential Price Index released Tuesday, indicating an indisputable recovery. However, FNC, a mortgage industry technology provider, is detecting some deceleration in the recovery and declares, “It is clear that the recovery remains uneven across the nation.”
On a monthly basis, prices rose 0.6 percent in August, according to FNC’s composite of 100 large metropolitan areas. On a yearly basis, the increase is 5.3 percent. The monthly gain in August was smaller than the gains accrued over the two previous months. Strategic Defaulters in Fannie and Freddie's Crosshairs:Fannie Mae and Freddie Mac are looking to collect unpaid mortgage debt from “strategic defaulters,” those underwater home owners who skipped out on their mortgages even though they had the ability to pay. If a home is sold at foreclosure but the proceeds don't cover the outstanding balance of the home owner's loan, the mortgage giants can pursue judgments against the home owner forcing him or her to pay the deficiency. Read more....
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