Best-Performing Real Estate Funds

LMP Real Estate Income Fund Inc RIT D Closed-End 18.30%
ProShares Ultra Real Estate URE E ETF 17.78%
Cohen & Steers Worldwide Realty Income Fund Inc RWF D Closed-End 15.24%
DWS RREEF Real Estate Fund II Inc SRO D- Closed-End 15.09%
DWS RREEF Real Estate Fund Inc SRQ E+ Closed-End 14.14%
RMR Asia Real Estate Fund RAF E Closed-End 13.91%
Cohen & Steers Premium Income Realty Fund Inc RPF E+ Closed-End 13.71%
RMR Dividend Capture Fund RCR E Closed-End 13.55%
RMR Real Estate Fund RMR D Closed-End 13.33%
RMR Asia Pacific Real Estate Fund RAP D- Closed-End 13.19%
ProFunds Real Estate UltraSector ProFund REPSX E- Open-End 12.47%
Cohen & Steers Advantage Income Realty Fund Inc RLF D- Closed-End 11.85%
Cohen & Steers Quality Income Realty Fund Inc RQI E+ Closed-End 11.73%
iShares FTSE EPRA/NAREIT North America Index Fund IFNA E- ETF 11.54%

Troubled mortgages hit record high

From cnnmoney.com:

Despite all the hand-wringing and attempts to contain the foreclosure plague, the problem still spread during the first three months of 2009, as the number of foreclosure actions started hit a record high, according to a quarterly report.

The National Delinquency Survey released Thursday by the Mortgage Bankers Association (MBA), reported the largest quarter-over-quarter increase in foreclosure starts since it began keeping records in 1972. Lenders initiated foreclosures on 1.37% of all first mortgages during the quarter, a 27% increase from the 1.08% rate during the last three months of 2008 and a 36% rise from the first quarter of 2008. All told, more than 616,000 mortgages were hit with foreclosure actions.

Continue reading Troubled mortgages hit record high

Lower mortgage terms pushed by Senate

WASHINGTON – Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government. The bill, passed 91-5, also would give banks a break by encouraging reduced fees they must pay for the government to insure deposits.

While both steps put taxpayer money on the line, lawmakers say the legislation is needed to prevent the economy from getting worse.
Continue reading Lower mortgage terms pushed by Senate

Chase to Open an Additional 24 Counseling Centers

Chase is adding another 24 mortgage counseling centers within the next four months bringing the number of such centers that provide face-to-face assistance to distressed homeowners in 14 states up to 51. These centers are located in Cleveland, Dallas, Houston, Boca Raton and Ft. Lauderdale in Florida, and Seattle. The addition, according to the head of retail financial services at Chase, Charlie Scharf, responds to the unusually high demand for loan modifications and follows the so far successful engagement of its initial 27 centers in providing a complete document packages looking for permanent payment relief. Borrowers can schedule appointments or walk in six days a week. Since they first opened 11 months ago, Chase centers have provided counseling for over 60,000 borrowers, the bank said. But Should I refinance home


Thornburg Mortgage – Bankrupt!

Thornburg Mortgage Inc., the “jumbo” home lender racked by the collapse of U.S. mortgage markets, said it plans to file for bankruptcy protection and shut down.

Remaining assets will be sold or liquidated to pay bondholders and creditors, according to a statement today from the Santa Fe, New Mexico-based company.
Continue reading Thornburg Mortgage – Bankrupt!

Interesting bits

Latest from the News

Read the news carefully today. You never know what you're gonna get. For recommended reading materials on mortgages and refinance aspects and how to fix your deeds or just plain news on real estate, check out the new york times online. It's a very good source of information.