Category: News

White House Moves Against Bankers

In the first indication that growing public complaints are affecting White House policy in relationship to its housing rescue plan, the Obama administration is moving against bankers. The Treasury Department’s TARP chief Herb Allison announced new protections for homeowners who are in the mortgage modification process. The Troubled Assets and Relief Program chief made the… Continue reading White House Moves Against Bankers

Home Sales Decline Slightly

Sales of existing homes fell slightly in February for the third month in a row, according to the National Association of Realtors. The drop was only 0.6 percent nationally to a seasonally adjusted rate of 5.02-million units. The decline in home sales demonstrates the slowdown in the housing market persists, despite government programs to re-ignite… Continue reading Home Sales Decline Slightly

Record 7.5 Million Homes in Default

More than a record 7.5 million residential mortgages are delinquent or in foreclosure, and one million other properties are either banked owned or are waiting to be resold, according to Lender Processing Services, Inc. the nation’s largest provider of mortgage data. The February report shows historic numbers, but also indicates that the pace of deterioration… Continue reading Record 7.5 Million Homes in Default

Housing Relief Gaining Momentum with Expansion of Efforts

Acknowledging that its housing relief rescue mission has been slow to respond to the foreclosure crisis, the government is expanding its efforts “to more effectively combat the ongoing effects of the housing crisis.” A new initiative announced by Housing and Urban Development (HUD) Secretary Shaun Donovan seeks to find more ways that help local communities… Continue reading Housing Relief Gaining Momentum with Expansion of Efforts

Buying Ugly Houses

“We Buy Ugly Houses” has become the slogan of a franchise company that buys homes in distress. For more than 20 years Home Vestors has been getting homeowners out of trouble on their homes, buying more than 40,000 houses through its network of franchises. But the company best known for its’ television advertising campaigns reaching… Continue reading Buying Ugly Houses

Millions of Homeowners Could Receive Housing Aid

By Mike Colpitts Struggling to keep their housing rescue efforts alive, a senior Obama administration official admitted the administration has more work to do to help the growing number of homeowners at risk of foreclosure before a gathering of state housing finance agency officials in Washington. Michael Barr, the Treasury’s assistant secretary of financial institutions… Continue reading Millions of Homeowners Could Receive Housing Aid

Signs of Improvement

By Kevin Chiu The second home-vacation market, long slowed by the housing crash is showing signs of improvement amid growing buyer interest. It appears a rebound of sorts is developing in many vacation markets. The real first sign of improvement in the second home market developed in Miami, where bargain hunters are picking up some… Continue reading Signs of Improvement

Tax Credit Losing Momentum

By Kevin Chiu First time home buyers are being credited $12.5 billion in government tax credits, according to the Treasury Department. But the federal tax credit with the expansion of the program to move-up home buyers is losing momentum, a Housing Predictor analysis shows. A boom to first time home buyers and real estate agents… Continue reading Tax Credit Losing Momentum

5 More States Get $600-Million in Housing Relief

Bowing to political pressure and rising foreclosures, the Obama administration is allocating $600-million more in mortgage rescue relief efforts to five additional states. The program provides funding for Ohio, North Carolina, South Carolina, Rhode Island and Oregon. The administration’s move comes just five weeks after allocating aid to the five worst affected states in the… Continue reading 5 More States Get $600-Million in Housing Relief