From the Sacramento Bee: Struggling California homeowners will have to wait longer before starting the $1.83 billion government aid program that will pay down loan balances and provide monthly cash assistance. The "Keep Your Home California" program was supposed to...
Originally, the Governor vetoed the first anti-deficiency judgement law, SB 1178, which had been passed by both the Senate and Assembly of California. But rather than arm-wrestle, they submitted SB 931, both houses passed it, and the governor signed it on October...
From cnbc.com: WASHINGTON - A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama's signature after it quietly zoomed through the Senate last week. The...
In spite of Bloomberg's insistence to include several ads with their videos, this interview of our hero (and friend of the blog), James Grant, is worth a look:
From HW: Bank of America Merrill Lynch analysts believe the federal government should begin investing in distressed real estate directly through a second round of the Public-Private Investment Program to reduce the shadow inventory of properties. The original PPIP was...
They are going to keep throwing everything at the wall, until something sticks. From HW: In the wake of reform enacted to promote homeownership, analysts at the Center for Economic and Policy Research are saying that ownership may not be the smartest option. In a...
Hat tip to SM for sending in this from CNNMoney.com: Nearly half of all Americans who claimed the first-time homebuyer tax credit on their 2009 tax returns will have to repay the government. According to a report from the Inspector General for Tax Administration,...
Hat tip to SM for sending this along, from the nytimes.com: The Obama administration on Tuesday will launch its most ambitious effort at reducing mortgage balances for homeowners who owe more than their homes are worth. Officials say between 500,000 and 1.5 million...
From reoi.com: The total bill for the homebuyer tax credit so far, as reported by the Internal Revenue Service, stands at $23.5 billion. About $16.2 billion of that is for the $8,000 (Recovery Act) and $6,500 (Assistance Act) grants shelled out to first and...
From the reoinsider: Chris Bowden, vice president of the Freddie Mac HomeSteps department, which manages the government sponsored enterprises’ (GSE) REO inventory, said stabilizing neighborhoods will depend on getting first-time homebuyers to buy REO. In a features...
