Heavy Rain Expected For Sunday In Armonk | The Armonk Daily Voice.
Heavy Rain Expected For Sunday In Armonk | The Armonk Realtor
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Tag Archives: Armonk NY Homes
New Year Hikes at Teatown Lake Reservation, Halle Ravine Preserve | Armonk NY Homes
Real Estate market projects 5% growth in 2014 in WA | Amonk Homes
U.S. housing prices rise 0.5 percent in October | Armonk Homes
Foreclosure Settlement: Ocwen Agrees to $2 Billion in Mortgage Relief | Armonk NY Homes
Ocwen Financial Corp. will reduce struggling borrowers’ loan balances by $2 billion in an agreement with federal regulators and 49 states over foreclosure abuses. The Consumer Financial Protection Bureau and state attorneys general announced the deal Thursday with the Atlanta-based company, one of the largest U.S. mortgage servicers. The regulators said Ocwen pushed borrowers into foreclosure through illegal actions, such as failing to promptly and accurately credit mortgage payments.
The company also miscalculated interest rates and charged borrowers improper fees, the regulators said. “We believe that Ocwen violated federal consumer financial laws at every stage of the mortgage servicing process,” CFPB Director Richard Cordray (pictured above) said in a conference call with reporters. “We have concluded that Ocwen made troubled borrowers even more vulnerable to foreclosure.”
Under the agreement, Ocwen also will refund a combined $125 million to about 185,000 borrowers who had been foreclosed upon from 2009 through 2012. It also agreed to change the way it manages mortgages. The company must stop “robo-signing” of documents, the practice of automatically signing off on foreclosures without a proper review. The agreement must be approved by a federal court in Washington.
http://realestate.aol.com/blog/2013/12/20/ocwen-foreclosure-settlement-reduces-mortgages/
South Florida home prices rise, but sales soften | Armonk NY Homes
South Florida home
prices rose in November, though sales slowed as buyers regained more control over the recovering market.
Broward County’s median price for existing single-family homes last month was $270,000, up 29 percent from a year ago, the Greater Fort Lauderdale Realtors said Thursday. Despite the large annual increase, the median has remained unchanged for three consecutive months.
Palm Beach County’s median of $252,000 was 16 percent higher than a year ago, according to the Realtors Association of the Palm Beaches. But it too has softened, hovering close to $250,000 since July.
Meanwhile, the once-blistering sales pace also has cooled. Broward had 1,076 homes trade hands last month, off 11 percent from a year ago. Palm Beach County had 1,110 sales in November, up just 1 percent from November 2012.
Investors have fueled demand since the market hit bottom early last year, but many have pulled back as prices have increased, real estate agents and analysts say. In both counties, cash sales declined in November from a year earlier.
Industry observers say the market was destined to lose some of its steam. They expect prices to continue rising next year, but at a much slower rate.
Terry Story, an agent in Broward and Palm Beach counties, said buyers are taking more time to consider their options and not rushing to bid on overpriced properties.
“The buyers are saying, ‘Nah, nah, nah,’” Story said. “They’re waiting for sellers to reduce their prices and they’re waiting for more properties to come on the market.”
Mortgage Loan Rates Continue to March Higher | Armonk NY Homes
The Mortgage Bankers Association (MBA) released its weekly report on mortgage applications Wednesday morning, noting a decrease of 5.5% in the group’s seasonally adjusted composite index following a rise of 1% for the previous week. Mortgage loan rates increased again last week on three of four loan types.
The seasonally adjusted purchase index decreased by 6% from the prior week’s report to its lowest level in a year. On an unadjusted basis, the composite index decreased by 6% week-over-week. The unadjusted purchase index decreased by 9% for the week, and is 12% lower year-over-year.
Mortgage rates continue to creep up and home sales continue to slip. An MBA executive noted:
Mortgage applications fell further last week, with the market index falling to its lowest level in more than a dozen years. Both purchase and refinance applications fell as interest rates increased going into today’s Federal Open Market Committee meeting.
The MBA’s refinance index decreased by 24%, after dropping by 2% in the previous week. The share of refinancings rose by a point, totaling 66% of all applications. Adjustable rate mortgage loans account for 8% of all applications, unchanged from the prior week.
Snow Is Back In The Forecast For Tuesday In Armonk | Armonk NY Homes
Westchester County is likely to see its second accumulating snow fall in the span of four days on Tuesday.
After a mostly sunny day Monday with highs near 30, there is an 80 percent chance of snow on Tuesday, mainly before 4 p.m., with 2 to 4 inches accumulation possible, according to the latest forecast from the National Weather Service. The snow is expected to start prior to dawn on Tuesday, which could make driving conditions during the morning commute treacherous.
It will clear out on Wednesday, with sunny skies and a high around 35.
Thursday should be mostly sunny with a high around 34.
Temperatures will then warm up for the weekend.
There is a chance of rain Friday with a high of around 48. There’s a chance of rain on Saturday with a high around 43.
http://armonk.dailyvoice.com/news/snow-back-forecast-tuesday-westchester
FHA mutual mortgage insurance fund falls short by $1.3B | Armonk Homes
Winter Storm Watch Is In Effect For Armonk On Saturday | Armonk NY Real Estate
The National Weather Service has issued a Winter Storm Watch for Westchester County on Saturday and into Saturday night.
Snow is expected to arrive late in the morning on Saturday and could become heavy at times at night before mixing with sleet and freezing rain. Snow accumulations of 6 to 10 inches are possible with a trace of ice, but there is still a good amount of uncertainty as far as possible accumulations, depending on the path of the storm. Road conditions are expected to be hazardous.
Winds will be gusting out of the Northeast from 10 to 20 miles per hour with gusts up to 30 miles per hour. Temperatures will be in the lower 20s.
The snow is expected to move out of the area by Sunday with mostly sunny skies forecast for Sunday with a high in the mid 30s.
Check back for more updates.
http://armonk.dailyvoice.com/news/winter-storm-watch-effect-westchester-saturday