Metro Phoenix housing market has best month in a decade April just might have been the best month for metro Phoenix's housing market in a decade. Foreclosures fell to the lowest level since 2006. Homebuilding continued to rebound. Phoenix kept its spot as one of most affordable big metro areas for ...
More Phoenix homeowners have equity now Fewer metro Phoenix homeowners are underwater now, according to CoreLogic. Approximately 19.5% of the Valley's homeowners owed more than their house is worth as of June 30, down from 21% at the end of this year's first quarter. At the worst of the housing cra ...
Phoenix-area home sales, prices cool in July In Metro Phoenix, both sales and prices dipped in July. Home sales fell 4.5% and the median home sales price inched down to $210,000 compared with June, according to the W.P. Carey School of Business at Arizona State University. The housing market's mode ...
Ariz. homebuilders offering deals New-home prices across metro Phoenix soared too high and too fast in 2012 and 2013 for many buyers to handle, leading to a slump in sales. Home prices have dropped slightly this summer, and builders are trying to lure buyers by offering incentives that include lowe ...
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News Article From: 12-05-2007

Many Subprime Borrowers May Be Able to Refinance, an article from RealEstateJournal.com, reports that according to Eric Rosengren, president of the Federal Reserve Bank of Boston, many borrowers with subprime mortgages have reasonably good credit and may be able to refinance into a less costly mortgage by taking advantage of government programs.  Using research conducted by members of the bank's staff, Mr. Rosengren noted that 55% of subprime adjustable-rate mortgages, where the owner occupied the home, hadn't missed a mortgage payment in the past year.  That percentage represents about 1.2 million borrowers.  Rosengren said, "These subprime borrowers may meet the credit standards required for FHA (Federal Housing Administration) guarantees or for similar state programs, with potentially a significant savings."  He also called on lenders to expand their efforts to refinance these subprime borrowers and to take a "fresh look" at the FHA program. 
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