Category: Statistics

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

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

The housing foreclosure rescue program developed at the height of the Great Depression saved millions of homeowners from foreclosure. Nearly 40% of all mortgage holders applied for the program, half of whom were granted help through the plan. A similar program may be in the works today. The Obama administration has delayed a decision on… Continue reading Saving Homes Program Inevitable

By Kevin Chiu It’s no secret homes cost less to buy these days. But one of the oldest affordability indexes in the industry is at the lowest level in its history. As home prices decline in the majority of markets, affordability is increasing for wannabe homeowners at near record levels. Bolstered by low mortgage rates… Continue reading Affordability Reaching New Highs

By Mike Colpitts A battle is brewing in Washington, D.C. over the fate of America’s biggest money pit, Fannie Mae and Freddie Mac, the nation’s two largest purchasers of home mortgages. The White House is quietly using the two companies as part of its housing rescue plan to cover an unlimited amount of mortgage losses… Continue reading Battle Brewing over America’s Money Pit

A U.S. Senator is asking President Barack Obama to expand his administration’s mortgage relief program. Sherrod Brown (D-Ohio) is the first member of the senate to request an expansion of the $1.5-billion bail-out program to include his home state, which may signal an increase in the plan even before it gets off the ground. The… Continue reading Senator Calls for Expansion of Homeowner Relief

By Kevin Chiu The $1.5-billion government bail-out plan targeted to save homeowners from foreclosure in the worst impacted states will be handled by local housing finance agencies working in conjunction with the Treasury Department. A formula will be designed to allocate funding in each of the state’s most harshly affected areas, according to a White… Continue reading Homeowner Bail-Out Moves Forward

By Mike Colpitts The White House $1.5-billion bail-out of troubled homeowners will help only a small fraction of those in need of aid, administration officials acknowledge. The foreclosure crisis, first forecasted by Housing Predictor nearly three years ago has claimed an estimated 4.5 to 5-million homes since it began. The crisis has become so massive… Continue reading Housing Bail-Out to Help Limited Number

On a visit near Las Vegas, Nevada, the worst affected city in foreclosures in the country President Barack Obama pledged $1.5-billion in federal aid to help the five states most heavily impacted by the real estate crash. Nevada, California, Florida, Michigan and Arizona will get federal aid under the program. In each state the average… Continue reading Obama Pledges $1.5-Billion in Housing Aid