Friday , 2 June 2017
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Crisis Watch

Senate Doubles Tax Credit in Stimulus

With its back against the goal line and the fourth quarter clock ticking down, the housing industry broke off a big touchdown run, but missed the field goal that would have given it the lead in the struggle for stimulus funds. However, the titanic and critical contest over how to jump start the housing markets is still up in the air, and will end in the next week or two as pressure to act becomes overwhelming. Read More »

Secondary Loans Send Obama Plan Back to the Drawing Board

Barely a month old, the Administration’s Home Affordability Program is going back to the drawing board to resolve an issue that has tied up the modification of billions of dollars of worth of secondary mortgages and home equity lines of credit and threatens the future of the $75 billion program to keep 3 to 4 million families from foreclosure… Read More »

Credit Union Woes Worsen

Friday the National Credit Union Administration sent a shock wave through the credit union industry when it seized control of two of the 28 large corporate credit unions that provide financing and investment services to the nation’s 7,800 federally insured credit unions. Read More »

REO Discounts Drive Down Values

Last year the gap between sales prices of REO properties and non-foreclosed homes grew dramatically in a number of the nation’s leading residential markets, suggesting that REO properties are increasingly discounting their prices and driving down home values at a faster rate. Read More »

States Woo Buyers with Tax Credits.

California new home buyers now have an $18,000 reason to get off the fence. That’s how big a tax credit they will receive from both the Federal ($8,000) and a new state tax credit ($10,000) when they buy a newly built home in the Golden State after March 1. Read More »

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