Friday , 2 June 2017
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Crisis Programs

Foreclosure: Crafting Graceful Exit Options and Recovery Strategies

“Not since the Great Depression has an economic downturn and the accompanying foreclosure crisis left so many lives in ruins. How can individuals and families find the resources and support they need to put their lives back in order?” asks A Resource Guide for Foreclosure Recovery, a 25-page handbook published by the Community Affairs division of the Federal Reserve Bank … Read More »

More Homeowners Dodge Foreclosure Bullet with NFMC Counseling

All loss mitigators are not created equal. The odds of curing a foreclosure and avoiding redefault are 1.7 times better for homeowners enrolled in the National Foreclosure Mitigation Counseling (NFMC) Program than for homeowners who do not receiving such counseling, according to the Urban Institute. The group released a report yesterday analyzing the NFMC program December 2009. NeighborWorks America is … Read More »

Fannie and Freddie Trump Homebuyer Tax Credit

Keeping Freddie and Fannie solvent has cost taxpayers six times as much as the homebuyer tax credit and, depending on the economy, could just about equal the cost of mortgage interest deduction over the next two years, according to projections released yesterday by the Federal Housing Finance Administration. Read More »

Mortgage Modifications are Sticking

Though the Administration’s Home Affordable Modification Program (HAMP) is falling far short of its goal of helping three to four million homeowners, the program is succeeding at helping those who do make through the program are stay current on their payments and avoid re-default. Read More »

Housing Faces the Fall

The consensus among the experts that home prices will fall farther before they hit bottom may become a self-fulfilling prophecy as the very buyers so desperately needed to buy up the excess inventory and stop the price slide will wait until they are absolutely sure that prices have reached their lowest point. Read More »

Positive Pending Home Sales Stifle Tax Credit Talk

Just when it seemed that only one more negative housing report would be enough to rev up the bandwagon for a new federal homebuyer tax credit, today’s pending home sales index for August baffled prognosticators and restored hope the no more government stimulus would be needed to stabilize housing markets. Read More »

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