Tuesday, May 24, 2011

6 real estate headlines: 24-May

A daily dose of headlines for real estate agents, mortgage lenders, homebuyers and home sellers.

Home remodeling? Watch out for scams
CNN Money
: For many homeowners, the warmer months is the prime time to remodel a kitchen or bathroom. But beware -- there are some contractors who may offer you a deal that's simply too good to be true.
Real estate news: U.S. steps up loan scrutiny
Wall Street Journal
: Three years after the financial crisis peaked, banks face a new wave of scrutiny and potential penalties for actions that contributed to the mortgage meltdown, possibly raising their costs for the cleanup.
Mortgage rates remain near record lows
: Unless inflation begins to create more cause for concern, there's little indication that economic conditions will change to any great degree, creating increased influence on the direction of mortgage rates.

MoCo moves to attract more mixed-use projects
Washington Examiner
: Two new zoning codes are being introduced as modifications to the existing code allowing for urban-looking, mixed-use development.

Consumers trending toward shorter term mortgages
Washington Post
: More than one out of three borrowers who ditched their 30-year fixed-rate loans opted to replace them with 15-year or 20-year mortgages at near-record low rates.
Service members grapple with housing market
: But for members of the military who must comply with relocation orders or face disciplinary action, waiting out the housing crash is often not an option.


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