Category: Housing Market

Freddie Mac and Fannie Mae to Eliminate Investors

By Kevin Chiu The real estate crash has sent the nation’s two troubled mortgage giants back into the home selling business. Freddie Mac and Fannie Mae will auction off hundreds of foreclosed homes to start with in a program designed to eliminate bargain hungry investors. The program is expected to expand to offer thousands of… Continue reading Freddie Mac and Fannie Mae to Eliminate Investors

Washington Woman Wins Ugly Contest

A small town Washington state woman has won the first prize in the ugliest room contest sponsored by a website that is putting a whole new face on ugly homes in America. They’re trying their hardest to find the ugliest rooms in the nation, and there doesn’t seem to be any shortage of contestants in… Continue reading Washington Woman Wins Ugly Contest

More than 4.5-Million Homes Refinanced

Home owners in jeopardy of losing their homes or who had mortgages that were unaffordable account for the highest number refinancing as more than 4.5-million mortgage holders carried out refinances over the last five months. The number marks the highest number of mortgage borrowers to get a new mortgage on their property since the foreclosure… Continue reading More than 4.5-Million Homes Refinanced

Mortgage Modifications Surge Higher

By Kevin Chiu Despite rising home foreclosures, mortgage modifications are increasing as a result of government efforts to aid the housing market as some banks demonstrate more willingness to work with mortgage borrowers, a Housing Predictor study has found. More than 2.4-million mortgage modifications have been extended to give homeowners a second chance of staying… Continue reading Mortgage Modifications Surge Higher

Housing Bail Out to Top $2-Trillion

By Cheryl Reams The U.S. government housing rescue program is on target to spend more than $2-trillion on bail out efforts, according to a review of government allocations. The effort marks the largest amount spent on record to aid real estate markets in a downturn, and is intended to help push the economy in the… Continue reading Housing Bail Out to Top $2-Trillion

Fixing America’s Broken Banking System

By Mike Colpitts Beset by a series of frauds, failed accounting practices, lack of proper government oversight, including the failings of law enforcement agencies America’s banking system is broken. At the heart of the massive problem are the nation’s two mammoth mortgage giants, Fannie Mae and Freddie Mac, also known as America’s biggest money pit.… Continue reading Fixing America’s Broken Banking System

Poll Shows Government Housing Plan to Fail

Apparently feeling that voluntary measures aren’t enough to get the job done, the over-whelming majority of respondents to a new Housing Predictor poll say White House efforts to refinance mortgages for millions of under water homeowners won’t work to help the housing market recover. Eighty-two percent of all those who took the online poll said that the… Continue reading Poll Shows Government Housing Plan to Fail

Millions of Homeowners to Get Housing Relief Money

The U.S. government’s program to bring relief to homeowners in jeopardy of foreclosure is designed to bring tailor made solutions to the 10 states in the program. The plan, known as the Hardest Hit Fund (HHF) is being administered through the Troubled Asset and Relief Program with $2.1-billion for homeowners in distress. White House officials… Continue reading Millions of Homeowners to Get Housing Relief Money

Under Water Mortgage Borrowers Rescue on the Way

By Mike Colpitts In a new effort by the Obama administration millions of under-water home mortgage borrowers may be helped. The FHA program will provide refinancing on homes at least 10% under their worth, and could establish a new cornerstone in White House efforts to stem the growing foreclosure epidemic. The program demonstrates a major… Continue reading Under Water Mortgage Borrowers Rescue on the Way