St Louis Mortgage Lending: Construction Starts To Rise

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St Louis Finance and Loan Audit News: Construction To Rise 8 Percent In 2011
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According to McGraw-Hill Construction, new construction starts in 2011 are expected to advance 8 percent to $445.5 billion, with single-family and multifamily starts leading the way. The prediction follows a 2 percent decline predicted for 2010.

Single-family housing in 2011 will climb 27 percent in dollars and 25 percent in number of units to

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St Louis Commercial Mortgage: Commercial Foreclosures Up 39 Percent

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St Louis Loan Audit and Principal Reduction News: Commercial Foreclosures Up 39 Percent In Dallas-Fort Worth Areas
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Foreclosure postings filed on commercial real estate in the Dallas-Fort Worth (D-FW) metro area are at their highest point in 19 years, according to Foreclosure Listing Service, with postings up 39 percent compared to the first 11 months of 2009.

From January through Tuesday’s November foreclosure auctions, 3,029 postings have been filed on commercial properties in D-FW compared to just 2,173 for the year-ago period according to St Louis commercial mortgage experts.

The postings include all types of commercial real estate, including retail centers, office buildings,

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St Louis Loan and Loan Reduction: Foreclosures Must Go On

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St Louis Mortgage and Real Estate News –

St Louis Loan Audit and Loan Reduction News: Washington Now Says Foreclosures Must Go On
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Over 12 months ago, officials focused on stopping the foreclosure tide. Now they are touting the need for foreclosures to rebuild the housing market.

Last week Phyllis Caldwell, head of the Treasury Department's Homeownership Preservation Office, told a congressional panel that "an important part of ensuring

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St Louis Finance Lending: Income Down Savings Down

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St Louis Finance and Lending News: Personal Incomes and Savings Rate Down
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According to the Commerce Department, personal income fell 0.1 percent. The drop in personal income was a sharp reversal from a revised 0.4 percent increase registered in August.

Further reports by the Commerce Department showed that spending by individuals increased by 0.2 percent.

Economists expected that spending by individuals would rise 0.4 percent in September, according to

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St Louis Finance Lending: Income Down Savings Down

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St Louis Mortgage and Real Estate News –

St Louis Finance and Lending News: Personal Incomes and Savings Rate Down
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction

According to the Commerce Department, personal income fell 0.1 percent. The drop in personal income was a sharp reversal from a revised 0.4 percent increase registered in August.

Further reports by the Commerce Department showed that spending by individuals increased by 0.2 percent.

Economists expected that spending by individuals would rise 0.4 percent in September, according to

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St Louis Foreclosures Rose In 3rd Quarter

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St Louis Principal Reduction and Loan Modification News: Foreclosures Climbed Higher In The Third Quarter of 2010
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Foreclosure filings increased from last year in 133 of 206 metropolitan statistical areas tracked in the third quarter of 2010, or 65 percent, according to RealtyTrac.

The Seattle area had the highest increase. There, foreclosure filings, which include notices of default, pending cases, notices of foreclosure sale and repossessions, increased

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St Louis Home Loan: Investors Still Recouping Mortgage Losses

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St Louis Mortgage and Real Estate News –

St Louis Finance and Loan Audit News: Investors Trying To Recoup Mortgage Losses
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Nearly 200 investors attended a meeting in New York on what was being called "Robosigners and Other Servicing Failures," said David Grais, a New York securities lawyer.

He was sponsoring the conference and currently represents two Federal Home Loan Banks that have filed lawsuits over mortgage-backed securities they own according to the St Louis home loans professionals.

It's one of several indications that

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St Louis Mortgage Broker: Economy Makes Small Improvements

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St Louis Finance and Loan Audit News: The Economy Is Slowly "Muddling Along"
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The Commerce Department said today that the economy expanded at a 2 percent annual rate in the July-September quarter.

It marked an improvement from the feeble 1.7 percent growth in the April-June quarter according to St Louis mortgage brokers. Consumers helped boost last quarter's economic growth with 2.6 percent growth in spending.

That was better than the second

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St Louis Loan Modification Programs: Mortgage Modifications Slow

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St Louis Loan Audit News: Loan Modification Programs Running Slow With Less Than Stellar Results
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There were 28,000 permanent mortgage loan modifications reported in September 2010 under the Home Affordable Modification Program, better known as HAMP. That's down from more than 33,000 in August.

A total of 495,898 borrowers have received permanent loan modifications since HAMP was

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St Louis Finance And Foreclosures: Foreclosure Pipeline Shrinking

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St Louis Finance and Loan Audit News: Freddie Mac and Fannie Mae Are Saying Foreclosure Pipeline Slowing
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Freddie Mac, one of the two government-owned entities that finance about half of all U.S. mortgages, says that homes are taking as long as eight months to work their way through its foreclosure pipeline which is two months longer than was typical before this mortgage crisis began according to Liberty Lending Consultants, a St Louis mortgage company.

What is interesting is that the delay is the result of more borrowers staying in their homes for months after foreclosure proceedings have begun, requiring Freddie Mac to

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