At a time when Congress has the lowest approval record in history, bankers receive even lower marks for being trusted by the public at large, according to a new Housing Predictor survey. The latest opinion poll found that only 3% of all those surveyed trust bankers to have consumers best interests in mind. An over-whelming… Continue reading Poll Shows Hardly Anyone Trusts Bankers
Category: News
Fresh Evidence Rescue Program Stalls
There are no gifts in this housing recovery. Homeowners received the lowest number of permanent modifications since Christmas this last month through the Obama administration’s Making Home Affordable program, and the number of homeowners dropping out of the rescue program is rising. Nearly half of the number of people entering the program has dropped out… Continue reading Fresh Evidence Rescue Program Stalls
Home Market Recovery in 7 States
It may seem like it’s been a gruelingly long time, but housing markets are recovering from their crash in seven states, adding another two states to the list in recovery. Nebraska and Pennsylvania join the line-up leading the U.S. out of the downturn. Despite a national slow down in home sales since the tax credit… Continue reading Home Market Recovery in 7 States
Green Energy Housing Renovations Receive $250 Million
By Kevin Chiu A green energy program for single family housing has been supplemented with a program for apartments, providing $250 million to reduce energy costs nationally. The government program provides up to 30% tax credits for homeowners to take advantage of the American Recovery and Reinvestment Act. The funding is part of the Housing… Continue reading Green Energy Housing Renovations Receive $250 Million
Hard Money Lending to Hit $2-Trillion
By Kevin Chiu Homeowners and business owners alike are borrowing money to keep their homes and commercial properties at high interest rates by the droves, sending hard money lenders busily searching for more cash to loan. The business of hard money lending is projected to hit a record $2-trillion in the U.S. within a year.… Continue reading Hard Money Lending to Hit $2-Trillion
Government Launches Ad Campaign on Home Rescue
By Mike Colpitts In government efforts to make it look like it’s taking a more active roll in the housing crisis, HUD has announced a major national advertising campaign to urge homeowners at risk of foreclosure to learn more about the White House’s Making Home Affordable program. More than 1.5-million homeowners have received assistance through… Continue reading Government Launches Ad Campaign on Home Rescue
Fannie Mae and Freddie Mac Reform Conference Set
By Kevin Chiu In a major effort to heal its tarnished reputation in relationship to the real estate crash, the White House will stage a conference on the future of housing finance in the U.S. as it tries to repair troubled Fannie Mae and Freddie Mac, the nation’s giant mortgage lenders. The White House conference… Continue reading Fannie Mae and Freddie Mac Reform Conference Set
New Urbanism Living on the Rise
New Urbanism, the revitalization of existing downtowns offering a variety of conveniences and amenities is on the rise. New lifestyle communities provide comfort, luxury, and safety for residents combined with the convenience of nearby shopping, dining and entertainment. Benefits of New Urbanism include leaving a smaller carbon footprint on the environment. People that live downturn… Continue reading New Urbanism Living on the Rise
Mortgage Rates Stay Unchanged
By Mike Colpitts Fixed rate mortgage interest rates remained unchanged for the first time in months this week at record low levels with a conventional 30-year mortgage at 4.57% on average, according to Fannie Mae. Mortgage rates are at the lowest level they have been at in 50 years, supporting mortgage affordability for home buyers… Continue reading Mortgage Rates Stay Unchanged
Growing Unemployment Drives Foreclosures Higher
Troubled by growing unemployment and decaying consumer confidence, foreclosures were higher in the first half of the year over 2009, despite a decline in filings over the last six months, according to the Realty Trac mid-year report. Some 1,654,634 residential properties were filed against during the first half of the year. However, foreclosure notices, including… Continue reading Growing Unemployment Drives Foreclosures Higher