Alabaster Shelby County Real Estate (Birmingham, AL)
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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL - 09/07/2011
Steven Roantes, "Ensuring Your Insurance!" (Mutual of Omaha)

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL - 09/07/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL - 09/07/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes 'Active' on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

In a move that some analysts fear could lead to further tightening in residential mortgage lending, Fannie Mae and Freddie Mac's regulator has sued 17 banks to recover billions in losses on "private label" mortgage-backed securities the mortgage giant purchased during the housing boom.

Fannie and Freddie bought the securities -- pools of subprime and "alt-A" loans considered too risky or large to qualify for their own guarantee programs -- as investments before the companies were placed under government conservatorship in 2008.

The Federal Housing Finance Agency, which as conservator of Fannie and Freddie is charged with minimizing their losses, announced Friday it was suing 17 financial institutions, claiming some of the losses the mortgage giants have racked up on private-label MBS were due to "misrepresentations and other improper actions."

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

FHFA alleges that some of the loans backing the securities "had different and more risky characteristics than the descriptions contained in the marketing and sales materials provided to the (Fannie and Freddie) for those securities."

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Some of the biggest names in the business are named in the lawsuits, including Ally Financial, Bank of America Corp., Barclays Bank PLC, Citigroup Inc., Deutsche Bank AG, Goldman Sachs & Co., and JPMorgan Chase & Co.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 09/07/2011

J. Steven Roantes

Insurance Sales Consultant

Mutual of Omaha Insurance Company

Direct:    (504) 402-5925

www.LaNewOrleansInsurance.com

New Orleans LA Health/Life/Accident Insurance

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 09/06/2011
Steven Roantes, "Ensuring Your Insurance!" (Mutual of Omaha)

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL - 09/06/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL - 09/06/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes 'Active' on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

In another hit to the beleaguered housing market, a report out this week found that the number of delinquent mortgage borrowers -- those who have missed at least one payment -- rose during the second quarter.The delinquency rate grew only slightly, up 0.12 percentage points to 8.44%, but that reverses the steady improvement of the past two years.The increase, as reported by the Mortgage Bankers Association (MBA), may not sound like much, but it could mean that the recovery in the housing market will take even longer than thought.

The MBA breaks down delinquencies by degree of severity, ranging from one payment past due to 60 days late, 90 days late and loans that are in the process of foreclosure proceedings, the final step before bank repossession. One bright spot: The number of loans more than 90 days late declined. Those are the mortgages that are most likely to proceed all the way to repossession.

Still, the number of initial filings ticked higher. Borrowers earlier in default are more likely to begin repayment again. Often the problems besetting them were temporary, such as an unexpected medical bill or a brief layoff from work. "Delinquencies are mirroring what's taking place in the employment market," said Jay Brinkmann, the MBA's chief economist.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

There were other reasons for hope. There was a drop in the number of new foreclosures initiated, which means fewer borrowers are actually losing homes to bank repossessions. The nation is back to 2007 levels in that delinquency category.

Another is that the newest loans, those issued after 2007, are performing much better than earlier issues. Mortgages originated from 2005 through 2007 represent 30% of all mortgages, but account for 65% of defaults. Once the problems with those mortgages work through, delinquency rates should start to drop off more significantly, as long as the economy starts to pick up and hiring gains strength.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 09/06/2011

J. Steven Roantes

Insurance Sales Consultant

Mutual of Omaha Insurance Company

Direct:    (504) 402-5925

www.LaNewOrleansInsurance.com

New Orleans LA Health/Life/Accident Insurance

Birmingham, AL Real Estate Professionals
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