Paying home loans getting simpler, however housing nevertheless depressed

Fewer individuals are having a difficult time paying the mortgage, though the housing market is still not doing too well. The housing market has continued to struggle, though employment is beginning to turn itself around.

Less homes underwater

A recent Harris Interactive poll, according to Daily Finance, revealed that, compared to last year, fewer survey subjects believed that their homes were underwater. There were 3,000 respondents, and 21 percent of them thought their homes were worth less than what was owed on it which was at 34 percent last year. Past year, there were 29 percent of Harris respondents that were not able to make mortgage payments, which dropped this year to 22 percent. There were 3 percent fewer with mortgages in the poll. There are fewer people applying for installment loans to cover a mortgage with a lower joblessness rate too.

Distressed homes flooding the market

USA Today reports that the number of distressed properties has been really worrying several. There were 1.8 million distressed homes without payment for at least 90 days as of January. The price of a distressed home always is at least 20 percent lower, which makes them attractive to bargain hunters and real estate investors. There are lots of them there though. That means all home costs end up being low. Soon the moratorium on foreclosures will end too, states Reuters. This will mean more foreclosures are to occur in the coming months. Several of the nation’s largest mortgage loan providers, including Bank of America and Wells Fargo, had to suspend foreclosures as questionable foreclosure practices at those institutions were being investigated by the government.

Cheap homes for those who can take advantage

More than likely, the market will continue as a buyer's market. More than likely, home prices will keep falling. MSNBC predicts this for the next few months. Mortgage rates are still coming off record lows several months ago, and people who can get the financing may never have to run out for same day loans to cover the mortgage payment if a low rate could be locked in. Lending might be hard to get. This is because loan providers are nervous about the market still.

Citations

Daily Finance

dailyfinance.com/story/real-estate/fewer-us-mortgages-in-trouble/19902674/

USA Today

usatoday.com/money/economy/housing/2011-03-30-distressed-homes-shadow-inventory.htm

Reuters

reuters.com/article/2011/03/31/us-financial-regulation-mortgages-idUSTRE72A63J20110331

MSNBC

msnbc.msn.com/id/38770102/ns/business-real_estate/