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Posts Tagged ‘mortgage payment’

Extensive Housing Data from 2011

July 12th, 2013 Comments off

In a 2011 survey conducted by the U. S. Census Bureau and the Dept. of Housing and Urban Development (HUD), covering approximately 132.4 million housing units, 90 million are single-family homes, 9.07 million are manufactured homes, and 10.7 million are sited in two to four family buildings. 10.3 million of the units are condominiums or cooperatives, and just over five million are in larger apartment structures of 50 units or more. One third of the roughly 76 million owner-occupied dwellings are owned fee and clear, while 43 million have a single mortgage lien on the property and 6.5 million have two. In addition, as mortgagenewsdaily tells MHProNews, the median price for a home acquired in 2011 was $110,000, a 2.3 percent increase over 2009. The median monthly mortgage payment for homeowners was $1,015 in 2011.

(Image credit: theatlanticcities)

Home Prices up 35%?

March 1st, 2013 Comments off

Speaking at a webinar about the improving housing market, Raj Dosaj, vice-president of the behavioral library and home price index at LPS Applied Analytics, says home prices could rise 35 percent without being beyond affordability. Displaying a graph that showed the ratio of the average mortgage payment to median income from 1995 to Jan. 2013, Dosaj says the annual graph has never been lower than Jan. 2013, when it went below 18 percent. He says during the run-up to the housing bubble affordability was stretched, but as home prices fell, so did affordability. As HousingWire tells MHProNews, he did say the increase would be less if interest rates rise, but also noted other signs point to a strong housing market recovery.

(Graphic credit: HousingWire)

Fake Court Documents Bring Fraud Charges

December 28th, 2012 Comments off

SecuringIndustry informs MHProNews websites in California are selling fake documents that can be used to stall foreclosure proceedings on properties. The phony court documents claim the debt has been repaid or the trustee has been changed. Online ads claim the documents can tie up banks in administrative proceedings for years. Prosecutors are building fraud cases against four homeowners for filing phony documents, while clerks who handle filings now alert investigators . The Modesto Bee in Stanislaus County, just east of San Francisco, reviewed a website that claims its 2,600 customers have not made a mortgage payment in two years.

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D.C. has Highest Mortgage Payment

November 28th, 2012 Comments off

OriginationNews informs MHProNews at $1,642 a month Washington, D.C. has the highest mortgage payment, accounting for 31 percent of household income, according to Lending Tree. Hawaii ranked second with a monthly average payment of $1,536, and California was third at $1,446 a month. Both Hawaii’s and California’s payments represented 30 percent of household income. D.C. also had the highest loan amount at $331,886. In the survey, 15 of the 51  areas studied have an average monthly payment above $1,000. At $711 a month, Nebraska had the lowest mortgage payment, followed by Arkansas, Iowa, Oklahoma and Missouri.

(Image credit: caudium)