Title Wise by Counsellors Title Agency
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The document summarizes real estate and mortgage market trends for 2012 according to a report from TransUnion. Specifically, it predicts that: 1) Mortgage delinquency rates will drop to 6% in the first quarter of 2012 and 5% for the full year. 2) Credit card delinquencies reached a 17-year low in the spring but increased slightly in the third quarter. 3) Pending home sales soared 10.4% in October 2011 compared to September 2011.
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Title Wise by Counsellors Title Agency
- 1. COUNSELLORS TITLE AGENCY DECEMBER 2011 TITLE WISE Counsellorstitle.com Volume 11, Issue 6 New Year Brings Brighter Promise to New Jersey Real Estate Market Happy Holidays Counsellors Title Agency, Inc. is Report Predicts Delinquency Drop Sharplyto credit reporting agency TransUnion, predicated Seven Real pleased to extend to you and your According families greetings during the holiday season. I must say that upon current trends, and if the U.S. economy avoids any significant economic setbacks, the percentage of current mortgage holders Estate the way we exit this past year behind on their payments should decline significantly by the end feels a bit different than the way we entered it. When we moved 2012. TransUnion issued this statement on Wednesday, December 07, 2011. For mortgage delinquency rates, percentages of borrowers more Trends into the first quarter, there was a than 60 days behind on their payments will move to 6% through the great deal of trepidation as to the first three months of 2012 and then drop to 5%, TransUnion said. In Fannie Mae says consumers state of the economy and what the overview, this will represent a 30% improvement from the peak of more positive about home coming year would bring. 6.89% reported in the fourth quarter of 2009. prices Steven Chaouki, a TransUnion group vice president, told Dow Now having weathered these Jones Newswires that the rate fell because more foreclosures have Americans expect falling home months, I believe that we have worked their way through the housing market, reducing the number prices and higher rental rates: turned the corner, and if we keep of outstanding delinquencies. Fannie Mae putting our best foot out in front, In addition, TransUnion forecasts that consumer confidence and we will experience better things the economy will improve next year, though well above the pre- Fannie Mae survey shows more throughout 2012. recession rates of 1.5 to 2%. The mortgage delinquency rate is also Americans consider renting declining due to the slowly improving job market and a stabilizing At Counsellors Title Agency, we housing market. Consumer pessimism reaches have worked with our clients, On the credit card front: card delinquencies—payments late by 90 new high in August: Fannie agents and loan officers to assist days or more—dropped to their lowest levels in 17 years during the Mae them in doing their jobs with as spring, then saw a slight increase in the third quarter. TransUnion said credit card balances have fallen to an average of $4,762, down Fannie Mae says limited little stress as possible. I am demand perpetuates uncertainty about $1,000 from 2009 due to more customers choosing to reduce proud to say that we have grown of housing recovery borrowing. In all, 39 states and the District of Columbia are significantly this past year and we projected to see credit card delinquency rates decline in 2012. believe that we can continue to be More bankers expect economic TransUnion expects further edging up in the current quarter and a business asset to our friends and the first three months of 2012, but then late payments on bank-issued improvement before 2011: business family. cards should fall again. Grant Thornton I look forward to a prosperous World housing prices stagnate Pending Home Sales Soar 10% in October in 3Q and healthy 2012 and invite you Pending home sales soared more than 10% in to feel free to reach out to us if October, remaining above year-ago levels. This there is any way that we can marks a hopeful sign for the nation’s housing possibly answer a question or be market, reported the National Association of of service. Realtors. Wishing you the very best, The NAR’s pending home sales index surged Aponte, Ralph Aponte President 10.4% to 93.3 in October from 84.5 in September. The index is based on signed real Counsellors Title Agency is an estate contracts for existing single-family homes, authorized agent for Old Republic condos and co-ops. National Title Insurance
- 2. Counsellors Title is Proud to Networking Tips Celebrate Our 17th Year of Holiday parties can be minefields: never assume that Service in New Jersey they are neutral territories. Tips for 2011: 1. Be prepared. Find out who As we enter our 17th year 6. Privately owned and will be attending, and learn their of service to the New operated names before you go. Write Counsellors Title Helps Jersey Real Estate Market, their names on an index card, 7. Rock-solid title searching You Close the Deal our commitment to and practice saying their names 8. Online quotes & estimates out loud before the event. delivering expedient Closing Services 9. Meticulous attention to 2. Place the host and hostess service, expertise and names in your Google News Counsellors Title prides itself accuracy has never detail Alert for the two weeks on providing attorneys, loan wavered. Here are CTA’s 10. Insurance from #1 rated preceding the event, and be officers and Realtors with fast, Seventeen Service U.S. carrier ready to report any ‘good news’ dependable and knowledgeable Commitments: 11. 24/7 settlement services to them when you have a chance title insurance services. Our at the event itself - getting 1. Courteous client focused 12. Web-based title delivery closing department brings people to talk about themselves together a knowledgeable staff 2. Typically able to provide system in a good light makes for a to ensure that your purchasers a title commitment in 24 13. Provides full closing and memorable connection. and borrowers have a smooth hours settlement service here on 3. Ask good questions. The closing. You will have a 3. Specializing in writing premises or off-premises better your questions, the faster closer assigned to your only one kind of insurance: they will discover that you are 14. UCC searches account, so that the services title insurance interested in them - have a you receive can be customized 15. 1031 tax-deferred 4. Proven knowledge in ‘teaser’ trend or tip to share. for you. Our closing exchange title research & all facets of Maybe a funny article from the department provides many 16. 1099 reporting Wall Street Journal – then you services, some are as follows: closing procedures 17. Commercial due could forward them the actual E-sign closings 5. Consistently striving to article in an email to follow up. diligence services Order payoffs exceed expectations with 4. Don’t Drink! Some of the an assiduous attention to most horrific events have Order homeowners detail occurred at ‘holiday parties’ insurance changes when too much ‘truth serum’ is Clear up old mortgages and taken unsuspectingly. judgments 5. Reconnaissance precedes Order subordination Confidence. If it’s a big event, agreements do a walk-through the day Coordinate closing with before the event actually lender and borrower happens. Mentally you train Closings are available for yourself to be ‘familiar with the evening and weekend terrain.’ 6. Gratitude’s the best mindset to create opportunity. Counsellors Title Agency, Inc. specializes in providing title Counsellors Title Agency, Inc. insurance, title search services and loan closing services Mr. Ralph Aponte serving attorneys, Realtors, banks and various mortgage President companies throughout the State of New Jersey. CTA offers full Counsellors Title Agency, Inc. search and insurance capabilities within all 21 counties of New 504 Hooper Ave. Jersey for commercial, residential and new construction Toms River, NJ 08753 purchases in both our Toms River and Linden locations. Phone: 732-914-1400 CTA is equipped with the latest digital technologies to ensure a Fax: 732-914-8898 complete and timely transaction. Ralph@counsellorstitle.com www.counsellorstitle.com