Short Sale Housing Plan in Jeopardy

A new program added to the arsenal of plans by the White House to help homeowners at risk of foreclosure may be in jeopardy even before it gets off the ground. The short sale plan, implemented this week lacks enforcement powers to require bankers to cooperate and sell homes at a loss. “There’s not enough… Continue reading Short Sale Housing Plan in Jeopardy

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

Worst is Over as Housing Deflation Peaks

Despite an on-coming wave of foreclosures, the worst is behind the majority of U.S. housing markets, according to a new assessment by Housing Predictor. Real estate deflation has been the worst in three states, topping 75% in the hardest hit markets of the country. But it has begun to slow as a result of a… Continue reading Worst is Over as Housing Deflation Peaks

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

Mortgage Refinancing Program Extended

Hoping to improve its housing rescue efforts, the White House announced plans to extend its refinancing program for another year in order to give homeowners at risk of losing their homes or under water more time to refinance mortgages. The “Home Affordable Refinance Program” is a key component of the Obama administration’s efforts, expanding access… Continue reading Mortgage Refinancing Program Extended