Investment approaches will evolve from excessive speculative buying into strategies with improved stability and market demand. Long term investments and buy-to-let ventures are expected to be the strongest growth areas, with fewer risks involved and excellent gains potential due to the exceptionally low priced investment options available in both emerging and established markets.
President Obama’s $75-billion program to avert foreclosures might not be able to help millions of distressed homeowners, as many homeowners are disqualified by the many restrictions in Obama’s program.
Real estate appraisers are having difficulty appraising properties in foreclosure listings which make it hard for borrowers to refinance and buyers to acquire homes.
Bankers, such as members of the Mortgage Bankers Association, are fiercely opposing President Obama’s proposal of involving judges in averting foreclosures.
FDIC has asked the newly formed FSOC to help address and regulate problems regarding mortgage lenders' allegedly improper handling of foreclosure documents. Analysts believe that FSOC could bring about more solutions to the issue.
Housing analysts in the Bay Area are seeing some signs that home prices are nearing their bottom levels despite the continued growth of foreclosure listings in many areas in California.
The $75 billion foreclosure properties prevention program is starting to help some residents in Arizona as lenders adjust interest rates and loan principals so that distressed homeowners could afford their monthly payments.
Between the banks’ slow response in helping people renegotiate their mortgages and homeowners continuing to lose their jobs, the number of families involved in foreclosure is up more this quarter over the rate experienced across the country in the previous quarter even though the government is struggling to help all the qualifying home owners who have mortgages in default.
Obama’s foreclosure plan will be implemented with the help of several federal agencies, government corporations such as Fannie Mae and Freddie Mac and the mortgage banks.
The House of Representatives has passed the Helping Families Save Their Homes Act which will provide another stopgap for the surge of foreclosure homes in the country.
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