Rick Sharga News
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Landlords seeking the highest returns for single-family homes should hit the road as rental rates weaken in Atlanta, Phoenix and Las Vegas, where institutional investors have flooded the market.
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Rick Sharga, executive vice president at Carrington Mortgage Holdings, says hitting the so-called fiscal cliff could "knock the stilts out from under the housing market" and cause a recession. Sharga talks with Bloomberg's Kathleen Hays and Vonnie Quinn on Bloomberg Radio's "The Hays Advantage."
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Berkshire Hathaway Inc. is the opening bidder today for a portfolio of Residential Capital LLC’s whole loans, a day after ResCap auctioned its mortgage servicing business to Ocwen Financial Corp. for $3 billion.
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U.S. home foreclosures reached a record for the second consecutive month in May, with increases in every state, as lenders stepped up property seizures, according to RealtyTrac Inc.
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A halt in home foreclosures at the largest U.S. mortgage firms may sideline buyers worried about legal issues, further depressing sales at a time when distressed properties account for almost a quarter of all transactions.
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U.S. home foreclosures climbed to a record in April, a sign that government mortgage relief efforts have yet to turn the tide of property seizures, according to a report by RealtyTrac Inc.
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Homes in the foreclosure process sold at an average 26 percent discount in the second quarter as almost one-fourth of all U.S. transactions involved properties in some stage of mortgage distress , according to RealtyTrac Inc.
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Citigroup Inc., the third-biggest U.S. bank by assets, sold $158 million of mortgages to a joint venture of two investment funds as the lender disposes of unwanted home loans.
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Homes in the foreclosure process sold at an average 27 percent discount in the first quarter as almost a third of all U.S. transactions involved properties in some stage of mortgage distress , according to RealtyTrac Inc.
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Fortress Investment Group LLC and Deutsche Bank AG, whose executives played roles in the housing bubble, are among the hundreds of firms that responded to a U.S. government request for proposals to rent out foreclosed homes.
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