The Experts You Can Trust
Even as home prices and mortgage rates are exceptionally low, most of today’s young adults cannot own a home due to tighten lending standards. With these tighten lending standards, parents of today’s young adults can act as their children’s mortgage lenders. The National Association of Realtors reported that in 2011 alone, one in three first-time …
The Home Affordable Modification Program (HAMP), one of the Obama administration’s foreclosure prevention programs is extended until December 31, 2013. The extension of one of the administration’s foreclosure prevention programs was announced last Friday by Housing and Urban Development (HUD) Secretary Shaun Donovan, Assistant Treasury Secretary Tim Massad, and White House National Economic Council Director …
HAMP extended until Dec. 2013; HAMP’s Eligibility also Extended Read More »
During his recent State of the Union address, President Obama said these are the facts: “In 2008, the house of cards collapsed. We learned that mortgages had been sold to people who couldn’t afford or understand them.” President Obama proposed a plan that would give responsible homeowners an opportunity to refinance their mortgages. As mortgage …
The average days to foreclose is up to 348 nationwide; over 800 days in New York, New Jersey and Florida, this according to the 2011 year-end foreclosure report released last Thursday by RealtyTrac. A total of 2.69 million foreclosure filings – including default notices, scheduled auctions and bank repossessions – were reported this year. The …
Foreclosure Processing Timelines Continue to Increase, RealtyTrac Reports Read More »
In a white paper entitled “The U.S. Housing Market: Current Conditions and Policy Considerations” that was released last week, Federal Reserve Board calls for alternatives to foreclosures. “While the total stock of REO properties is difficult to measure precisely, perhaps one-fourth of the 2 million vacant homes for sale in the second quarter of 2011 …
Federal Reserve Board Pushes for Foreclosure Alternatives Read More »