In a bid to finally stem the tide of foreclosures, the government released a new modification plan aimed to rework loans handled by Fannie Mae and Freddie Mac.
With the continuous economic crisis the nation is experiencing, more and more families are faced with foreclosures, even putting them at risk of becoming homeless.
Homes to foreclosures in Nashville, Tennessee again pushed down sales prices of condo and single-family homes in January this year. The median sales price for condos dropped to $154,550 and the median for single-family homes dropped to $159,000.
Market data showed that November listings of bank foreclosures in North Texas went up by almost 35 percent. And the worsening unemployment problem is being blamed as the major factor pushing up the foreclosure numbers.
Failure to effectively implement the mortgage bailout plan is causing further deterioration to the economy resulting to a continued increase in foreclosures.
Chairman Sheila Bair, the frontrunner of FDIC’s proposal for a mortgage-restructuring program to stop foreclosures is targeted out of office by administration people.
An increase in the number of foreclosure homes resulted to sharp drops in home prices, resulting to homeowners owing more than what their homes now cost.
The Obama Administration is looking at the possibility of reducing monthly mortgage payments of homeowners who are in danger of losing their properties to foreclosure.
An Illinois county has several programs designed to help its struggling residents. Some of these programs are utility payment assistance and funding for first-time buyers of foreclosure homes.
In several of his television guest appearances, senior adviser David Axelrod provided insights on President Barack Obama's foreclosure prevention program.
Foreclosed home numbers are expected to increase in the next couple of years because of the scheduled resetting of interest-only loans. According to a research firm, 2.8 million homeowners are currently paying interest-only loans.
Lawmakers have proposed a law that aims to curb the rising number of properties on bank foreclosure list. The bill also aims to help stabilize the housing markets across the country.
Homeowner advocates are calling on critics of President Obama’s foreclosure program to support the plan if they have no better alternatives. Indirectly, former owners of tax foreclosures would be helped when the economy gets better as Obama implement his programs.
Florida foreclosures will soon receive a much needed respite with the Treasury Department’s plan to start enforcing Obama's foreclosure prevention plan.
Among the top priorities of the incoming U.S. President should be to establish policies that will prevent further foreclosures and policies that will revive the housing market.
Minneapolis foreclosure homes have been the focus of various federal programs such as Hope Now, HAMP and NSP. Hope Now has modified 21,000 mortgages in Minnesota while the NSP has given a total of $29.4 million to Minneapolis to help its neighborhoods.
Just a little increase in housing market activity and some analysts are quick to shout recovery. But analysts who are more cautious said that the market is far from a true and sustained recovery given the continuous increase in foreclosed for sale and the drop in home prices.
Short sales, with their low prices, may be keeping a lot of homes in Miami from foreclosures, but remain insufficient to keep the crisis tamed for a long time.
While debates rage on at higher levels regarding plans for foreclosures relief, local communities clamor for immediate solutions at grass-roots levels.
Top legislators are threatening to hold the release of the second half of the $700 billion financial bailout plan unless portions of the fund are to be used for foreclosures.
With home prices significantly reduced due to the foreclosures crisis, investors and first-time buyers in Virginia are grabbing this opportunity to get good bargains.
With the new president ready to take charge in January, several concerns await him particular to the rising tide of foreclosures haunting the housing industry.
North Carolina Governor Mike Easley is scheduled to step down next year but still finds an opportunity to boost his image through relevant talks on mortgage foreclosures.
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