According to the National Association of Realtors sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. This was the largest increase in a year and caught economists by surprise. They had been expecting a small decline.
Economists were not expecting a notable gains in existing-home sales until the second half of this year, but the February improvement is another sign that the market is stabilizing.
Monday, March 24, 2008
Wednesday, March 12, 2008
State offering mortgage information and counseling
As reported by The Seattle Times, prospective buyers and homeowners having problems with their mortgage have a new place to turn for information.
Called the Washington Homeownership Information Hotline and Counseling Program, it's funded by $1.5 million in state money. The program kicked off Saturday with a toll-free hotline, 1-877-894-4663, and an informational Web site: http://www.homeownership.wa.gov/.
The goal is to provide free, objective information and counseling on refinancing, buying a home, avoiding scams and dealing with foreclosure. "It's a simple concept: Better-educated consumers make better financial decisions," said Scott Jarvis, director of the Washington State Department of Financial Institutions, the state's banking overseer, which is in charge of implementing the program.
Most of the money is directed toward the Washington State Housing Finance Commission, which will distribute it to qualified counseling agencies. Assistance for residents in areas that have high rates of subprime mortgages and foreclosures will get priority.
Called the Washington Homeownership Information Hotline and Counseling Program, it's funded by $1.5 million in state money. The program kicked off Saturday with a toll-free hotline, 1-877-894-4663, and an informational Web site: http://www.homeownership.wa.gov/.
The goal is to provide free, objective information and counseling on refinancing, buying a home, avoiding scams and dealing with foreclosure. "It's a simple concept: Better-educated consumers make better financial decisions," said Scott Jarvis, director of the Washington State Department of Financial Institutions, the state's banking overseer, which is in charge of implementing the program.
Most of the money is directed toward the Washington State Housing Finance Commission, which will distribute it to qualified counseling agencies. Assistance for residents in areas that have high rates of subprime mortgages and foreclosures will get priority.
Subscribe to:
Posts (Atom)
