I haven't seen any official N.A.R. statement regarding an extension of the tax exemption of debt relief, but there was a mention here in the first paragraph from their tax counsel:...
Mortgage-Debt Forgiveness
read more
Bailout
Cushy Mortgage Settlement
Excerpts from the latimes.com: The federal government's response to the home mortgage crisis always has been an exercise in living down to one's lowest expectations. The $25-billion settlement with five big banks over foreclosure abuses that U.S. housing officials and...
Pushing Principal Reductions
Excerpt from Nick's article at the wsj.com: When the principal reduction program was rolled out two years ago, those incentive payments weren’t extended to Fannie and Freddie, and their regulator has said there are less costly ways to help borrowers avoid foreclosure....
More Maids
From HW: The government's program to turn foreclosed Fannie Mae, Freddie Mac and FHA properties into rentals "is here to stay," according to housing analysts at Morgan Stanley. One of the greatest effects of it, the bank's analysts say, is job creation, with the...
Insiders Inquire Here
More from HW: The FHFA set off a firestorm of discussion in 2011 when it announced an REO-bulk sales initiative that aims to repair the hardest-hit housing markets by selling off bulk assets to investors who have the ability to turn those properties into rentals. The...
Treasury Backs Principal Reduction
Thank you taxpayers! From HW: The Treasury Department will triple payments to mortgage investors for reducing borrower principal through an expanded Home Affordable Modification Program announced Friday. Officials announced several critical changes to HAMP, including...
Obama To Squeeze Buyers
CR outlined on his show how the Fannie/Freddie HAPR refinances will escalate in March when they change to automated underwriting, and loosen the guidelines by not requiring appraisals or income verifications. See more details here:...
Kicking Principal Reductions’ Can
All of these guys are big talkers.....From HW: Democrats on the House oversight committee are pushing to subpoena the Federal Housing Finance Agency to obtain an analysis looking at what effects principal reductions would have on Fannie Mae and Freddie Mac. FHFA...
HARP No-Income Refis in March
Thanks to everyone who participated in the blog talk radio show last night with Bill McBride! Based on the responses here and at CR, people enjoyed hearing from Bill, and are encouraging him to do more - hopefully we can do it again. Here is the link to the two hours:...
Free-Rent Program Extends
From cnnmoney.com (seen at CR): NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight. Among the tactics: Challenging the bank's actions, waiting to file...
