Obama’s foreclosure plan triggered outrage as some people in media voiced out concerns about unfairness to responsible homeowners and property owners losing properties to tax foreclosures.
Applications for mortgage loans increased in February as average fixed-mortgage rates fell below 5 percent. Among these applications are refinancing requests by borrowers avoiding foreclosure.
The foreclosure prevention initiative announced by President Obama has generated support from mortgage professionals, builders and realtors who are hopeful that it would stabilize the housing market.
With the weak economy, homeowners keep losing jobs, leaving them with no means to pay their mortgages, leading to more foreclosures. If not appropriately addressed, tougher economic conditions await everyone.
President Obama's foreclosure plan includes a scheme that gives up to $8,000 tax credit to first-time homebuyers earning less than a specified salary range.
Florida foreclosures will soon receive a much needed respite with the Treasury Department’s plan to start enforcing Obama's foreclosure prevention plan.
It helps to be organized when buying, leasing or selling a foreclosure property. Industry experts recommend that first-time homebuyers should have a foreclosure planner to keep track and have an immediate access to pertinent information about a property.
At least one banker is concerned about saving distressed homeowners from foreclosures and pushing the recovery of the housing market. Find who he is and how would he do this.
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