Real estate news update: 5-21

Written by Federal Title | 21 May 2010

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

How bad is the housing situation?
Washington Post: One in every 10 mortgage holders is now officially "delinquent" -- that is to say, late on at least one payment. That's an all-time high.		10% of homeowners missed a payment in Q1
USA Today: The number of homeowners who missed at least one payment on their mortgage surged to a record in the first quarter of the year.
Two major issues can derail your mortgage loan
Boston Herald: Attorney Richard D. Vetstein. writes today about why people with good incomes and good credit can see their mortgage loans go bad.		100,000+ Marylanders late on mortgage payments
Baltimore Business Journal: Adding in loans that are already in foreclosure, and 9.21 percent of mortgages are either more than three months late or foreclosed.
Mortgage purchase applications plummet
Mortgage Bankers Association: The Refinance Index increased 14.5 percent and the seasonally adjusted Purchase Index decreased 27.1 percent from one week earlier.
After condo crash, Miami market rebounds
National Real Estate Investor: Clouds are lifting over Miami’s beleaguered condo market following a boom-and-bust cycle of epic proportions.

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Headlines compiled by Strategic Research.

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