Home ownership back on the rise in US

Home sales are slowly climbing back, thanks to investor demand, improving consumer confidence in housing, and the surprising return of former homeowners who once walked away from their commitments. These so-called, "strategic defaulters," some of them investors and some owner-occupants, are coming back to the market, despite damaged credit, and apparently the market is welcoming them back. A new survey of past clients by YouWalkAway.com, a website that assists borrowers in the legal pitfalls of strategic default, found that nearly 80 percent expressed a desire to buy a home again within the next twelve months. It also cites data by Moody's analytics, showing that the number of eligible home buyers who have had a previous foreclosure will be 1.5 million by the first quarter of 2014. Crashing home prices and sketchy mortgage products caused millions of Americans to default on their loans and eventually lose their homes. For some, it was a tragic fight to the end to keep their single largest investment; for others it was a conscious decision to walk away from their mortgage commitments, given the real fact that they would likely not see home equity again for many years to come. Some saw this as morally reprehensible, others as a sensible business decision. While home ownership has fallen dramatically since the recent housing boom, from a high of 69.2 percent in 2004 to 65.4 percent at the end of 2012, according to the U.S. Census, the desire to own a home is still strong. 70 percent of Americans surveyed by online real estate website Trulia.com said homeownership was still a part of the "American Dream." 65 percent of those surveyed by Fannie Mae in January of 2013 said that if they had to move, they would buy a home, rather than rent. Coming back to home ownership may not be as difficult as some think. Consumers who only defaulted on their mortgage during the recent recession were far better risks than those who went delinquent on multiple credit accounts, like credit cards and auto loans, according to a 2011 study by TransUnion. "There appears to be a pocket of opportunity among mortgage-only defaulters that is not the result of excess liquidity, but rather the unique circumstances of the recent recession," said Steve Chaouki, group vice president in TransUnion's financial services business unit in the study release. "This new market segment that the recession created is an important one for lenders to understand. They have the potential, today, to be stronger and more reliable customers." Not surprisingly, given this potential, YouWalkAway.com is launching the "AfterForeclosure.com Pass/Fail App," which claims to tell potential borrowers in just one minute, "if they have a shot at home ownership." "We want people to know that it's possible and, in a lot of cases, it's advantageous," says Jon Maddux, former CEO and co-founder of YouWalkAway.com. It is possible, but mortgage underwriting is far more strict today than during the housing boom, and there are varying waiting periods before former homeowners who went through foreclosure can qualify for a new loan. The Federal Housing Administration, the government insurer of home loans which now backs just over 20 percent of new loan originations, requires a three-year wait. Fannie Mae and Freddie Mac, which own or guarantee the bulk of the remaining new loan originations, require up to seven years for a strategic defaulter to qualify again for a mortgage.

Japanese jeweler selling gold replica of Leo Messi’s foot for $5.25 million

Ginza Tanaka held a special launch event in Tokyo with the help of Messi's brother Rodrigo. The Golden Foot, which commemorates Messi's world-record 91 goals in 2012 record fourth Ballon d'Or win, will be on display at various Ginza Tanaka stores in Japan through June.

Super heroes have come out

LONDON (KABC) -- A British man suspected of fraud and handling stolen goods was escorted to a police station by a person dressed up as Batman. The Feb. 25 incident was all caught on security camera at a West Yorkshire police station. The Dark Knight showed up with the suspect, handed him over and left without a word. Police said they are glad to have the man in custody, but they have no idea who that was in the Batman outfit. (KABC-TV/DT.)

HEADS UP

TSA will allow small pocketknives, golf clubs, hockey sticks & plastic Wiffle Ball-style bats onto US planes starting 04/25

Scientists Report First Cure Of HIV In A Child, Say It's A Game-Changer

Scientists believe a little girl born with HIV has been cured of the infection. She's the first child and only the second person in the world known to have been cured since the virus touched off a global pandemic nearly 32 years ago. Doctors aren't releasing the child's name, but we know she was born in Mississippi and is now 2 1/2 years old — and healthy. Scientists presented details of the case Sunday at a scientific conference in Atlanta. The case has big implications. While fewer than 130 such children are born each year in the U.S., an estimated 330,000 children around the world get infected with HIV at or around birth every year, most of them in sub-Saharan Africa. And while many countries are striving to prevent these mother-to-child infections, many thousands of children will certainly get infected in coming years.

Portia Jenkins TRUTHS: DO WEARING NAME BRANDS MAKE YOU LOOK BETTER THAN S...

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R. Kelly Spits A Few Bars

The king of R&B performing live in the Bahamas