At least here people have to contribute to others to help themselves - from latimes.com: http://www.latimes.com/business/la-fi-habitat27-2009nov27,0,6797289.story Unfortunately, for low-income families, even deeply discounted foreclosures are out of reach because of...
hat tip to AL for sending this along, from the WSJ: The Deed for Lease Program, which Fannie plans to roll out on Thursday, will offer borrowers who fail to complete or don't qualify for a loan modification or other workout to deed their property to the lender in...
From the AP: Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn't owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both...
From CR, here is the summary of what's on the table: Income eligibility for first-time home buyers stays at $75,000 for individuals, and $150,000 for couples. For move-up buyers, income eligibility is $125,000 for individuals and $250,000 for couples. There is a...
From Reuters: http://www.reuters.com/article/newsOne/idUSTRE5980M520091009 WASHINGTON (Reuters) - Government programs to fight the U.S. home foreclosure crisis look increasingly inadequate and should be reworked, expanded and supplemented with new ideas, a...
Hat tip to Pigpen sent along this clip from abcnews, via zerohedge; go to -9:50 mark where the senators are discussing the housing tax credit. If this is any indication, it's looks like an extension of the credit is going to happen:...
The L.A. Times' Ken Harney wrote this article on the study of homeowners with good credit histories intentionally defaulting on their mortgage: http://www.latimes.com/classified/realestate/news/la-fi-harney20-2009sep20,0,2560658.story An excerpt: * Strategic defaults...
For those who want to take advantage of the $8,000 tax credit, time is running out - unless of course, it gets extended.......which doesn't appear to be a slam dunk, because of that pesky little problem of having to pay for it too. Should the tax credit not get...
The poll results ran about 3 to 1 in favor of trickle, but I think we can agree that a flood is certainly possible. All it would take is: 1. Citizens revolt, resulting in a political uprising that turns off the backstop, or 2. One of the servicers who also owns a...
Hat tip to Rick for sending this along, from Yahoo Finance: http://finance.yahoo.com/news/Risktaking-is-back-for-banks-apf-3400806176.html?x=0&.v=1 NEW YORK (AP) -- A year after the financial system nearly collapsed, the nation's biggest banks are bigger and...
