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Wells Fargo, Atlanta partner to jump-start home buying
Wells Fargo, Atlanta partner to jump-start home buying
Article from Atlanta Journal Constitution:
The Atlanta Journal-Constitution
Wells Fargo is partnering with the City of Atlanta and nonprofits to spur home buying and help stabilize neighborhoods inside the city limits.
The bank, nonprofits including NeighborWorks America, and the city will unveil a program Wednesday called Neighborhood LIFT that includes down payment assistance for lower income buyers, renovation grants and a new 5-year mortgage lending commitment by metro Atlanta’ s No. 2 bank by deposits.
Atlanta and Los Angeles are the pilots for Neighborhood LIFT, a program Wells Fargo officials said they plan to take to other cities ravaged by foreclosures. Georgia was No. 4 in foreclosure rate in 2011, while Atlanta ranked 12th by metro areas in the nation, according to a report this month by RealtyTrac.
It kicks off in Atlanta on Feb. 10-11 with a road show of homes and home buying workshop…………………continues on Atlanta Journal Constitution
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Pending Home Sales in US Fell Back in December
Article from New York Times:
The number of Americans who signed contracts to buy homes fell in December after hitting the highest level in a year and a half.
The National Association of Realtors said its index of sales agreements fell 3.5 percent last month to a reading of 96.6 points. That’s down from November’s reading of 100.1 points.
But the reading is still the second highest since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.
A reading of 100 is considered healthy.
“Even with a modest decline, the preceding two months of contract activity are the highest in the past four years outside of the homebuyer tax credit period,” said Lawrence Yun, the Realtor group’s chief economist.
Contract signings typically indicate where the housing market is headed. There’s a one- to two-month lag between a signed contract and a completed deal. But in recent months, a growing number of buyers have cancelled contracts at the last minute.
…………………continues on New York Times
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