Progress reports on the Obama Administration’s loan modification program showed that the initiative has failed to make a dent on the foreclosure problem of the country. In North Florida, the number of bank foreclosed homes is way ahead of the loan modification figures.
The foreclosure prevention plan unveiled by President Barack Obama has left more questions unanswered including how the administration will implement its refinancing program.
To those involved in flipping property, prediction for the Colorado housing market for 2011 will be of great interest. Analysts predicted that the market will start its slow recovery this year.
The Homeownership Preservation Foundation (HPF) has reported an increase in the number of calls to its Homeowner’s HOPE Hotline after President Obama unveiled his repo homes prevention plan.
A Florida city official has proposed an ordinance aimed at penalizing banks that refused to offer loan modifications to distressed homeowners. This ordinance is a way to reduce the number of bank foreclosed houses in the city.
An aggressive strategy implemented in Boston, Massachusetts has successfully staved off cheap houses for sale by keeping the number of foreclosed properties in the area minimal compared with other metropolitan cities in the United States.
Foreclosure help workshops are being held across the country to help distressed homeowners save their properties from foreclosures. They will have a chance to meet and talk personally with lenders and investors of Hope Now alliance.
A fund raising event was launched to help prevent the increase in the number of Fort Worth bank foreclosures. The fund raising benefitted a foundation that have been fighting to stop the spread of foreclosures not just in Texas but nationwide.
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