Phila.-area foreclosure activity up from late last year
April 30, 2008
The Phila. Business Journal reports, “Foreclosure filings in the Philadelphia metro area increased by 70 percent from fourth quarter 2007 to the first quarter of this year, but were down 63 percent compared to the first quarter of last year, according to the RealtyTrac online marketplace for foreclosure properties.”
Source: Phila.-area foreclosure activity up from late last year
Philadelphia area’s foreclosure rate drops 30%
April 30, 2008
The Inquirer reports, “The Philadelphia region’s first-quarter foreclosure rate fell almost 30 percent from the same period a year earlier, bucking a national trend that saw filings rise to one in every 194 U.S. households.”
Source: Philadelphia area’s foreclosure rate drops 30%
Philadelphia’s home-price drop less than elsewhere
April 30, 2008
The Inquirer reports, “The Philadelphia region’s home prices continue to decline at a slower rate than the 20 metropolitan areas tracked by the Standard & Poor’s Case-Shiller Index, economists said yesterday.”
Source: Philadelphia’s home-price drop less than elsewhere
City suspends, for now, law making landlords get property certificate
April 29, 2008
The Daily News reports, “In a final victory before his disgrace, former City Councilman Rick Mariano in 2006 forced into law a requirement that landlords get a city certificate for their property’s ‘rental suitability’ before tenants could move in.”
Source: City suspends, for now, law making landlords get property certificate
Home Vacancy Rates Set Record in First Quarter
April 29, 2008
The New York Times reports, “The percentage of vacant homes for sale in the U.S. set a new record high in the first quarter of this year, the government said Monday.”
Source: Home Vacancy Rates Set Record in First Quarter
States Tackle Foreclosures In Absence of Federal Help
April 23, 2008
The Housing Alliance of Penn. reports, “This month alone, Philadelphia’s sheriff delayed foreclosure auctions of 759 homes at the city council’s urging. Maryland extended the time it takes to complete a foreclosure. State leaders in Ohio recruited more than 1,000 lawyers to aid distressed borrowers.”
Source: States Tackle Foreclosures In Absence of Federal Help
Region’s home sales continue to decline
April 23, 2008
The Inquirer reports, “Sales of existing homes continued to erode in March, dropping 19.3 percent nationally from a year ago, the National Association of Realtors reported yesterday.”
Source: Region’s home sales continue to decline
Housing-credit woes spur calls for more federal regulation
April 21, 2008
USA Today reports, “A heavier federal hand is reaching into American life as politicians in both parties demand an overhaul of government financial regulation and more protection for homeowners in the face of mortgage woes and a weakening economy.”
Source: Housing-credit woes spur calls for more federal regulation
FHA Expansion Is Cornerstone as Housing-Rescue Bill Shapes Up
April 18, 2008
KnowledgePlex.org reports, “While the White House wants to avoid moves it sees as bailing out irresponsible mortgage borrowers, observers say it’s likely that lawmakers looking to be reelected this year will expand the reach of the Federal Housing Administration to keep more borrowers in their homes.”
Source: FHA Expansion Is Cornerstone as Housing-Rescue Bill Shapes Up
Details of Phila. foreclosure reduction effort announced
April 17, 2008
The Phila. Business Journal reports, “The Philadelphia Common Pleas Court Wednesday announced details of a pilot program it hopes will reduce the number of foreclosures in the city.”
Source: Details of Phila. foreclosure reduction effort announced
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