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Monthly Archive for: ‘May, 2012’

Getting the Best Refinancing Deal

The Wallstreet Journal By RUTH SIMON There has never been a better time to refinance your mortgage. Rates are at record lows. The government is devising new programs to help homeowners. The economy and job market are improving, albeit slowly. In theory, those factors should be producing a boom in mortgage refinancing. But locking in a deal is proving to …

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Negative Equity Rates: How Does Your Neighborhood Fare?

Today Zillow made waves by becoming the most broad and accurate public source of negative equity information. We’re now able to tell, down to the ZIP code level, what the rate of negative equity is, how far underwater homeowners are, and the delinquency rate of underwater homeowners. To make this data available to each and every one of you, we’ve …

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Most Underwater Homeowners Still Paying Mortgages

Nearly a third of homeowners with mortgages, or roughly 16 million borrowers, remained underwater on their home loans in the first three months of this year, an analysis from the real estate site Zillow finds. Underwater borrowers owe more on their mortgages than the home is worth. The percentage of underwater borrowers, 31.4, is up slightly from 31.1 percent in …

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HUD STUDIES SHOW HOUSING COUNSELING HELPS FAMILIES PREPARE

HUD No. 12-085 Lemar Wooley (202) 708-0685 FOR RELEASE Wednesday May 16, 2012 HUD STUDIES SHOW HOUSING COUNSELING HELPS FAMILIES PREPARE FOR HOMEOWNERSHIP AND KEEP THE HOMES THEY HAVE WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today released two reports on the impact of HUD-approved housing counseling has for those families who purchase their first homes …

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Tax Code Overhaul Must Be Made a U.S Priority

Tax Code Overhaul Must Be Made a U.S Priority, Camp Says By Richard Rubin – May 17, 2012 The U.S. Congress and President Barack Obama should endorse a fast-track approach leading to a rewrite of the tax code in 2013, Representative Dave Camp, the top House tax writer, said today. “Doing so would send a clear, strong message to the …

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FHFA Releases Draft Strategic Plan for Public Comment

   FHFA Releases Draft Strategic Plan for Public Comment Washington, DC – Federal Housing Finance Agency Acting Director Edward J. DeMarco today released for public comment the Agency’s draft Strategic Plan: Fiscal Years 2013- 2017. FHFA is updating its plan in order to incorporate the strategic plan for the conservatorships of Fannie Mae and Freddie Mac (the Enterprises) sent to …

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HFAs, NCSHA, and Other Stakeholders Discuss Affordable Homeownership Programs at HUD Roundtable

May 09, 2012   HFA representatives from several states, NCSHA’s Garth Rieman, lenders, nonprofits, and HUD staff participated in an Affordable Homeownership Roundtable sponsored by HUD May 8 in Washington DC to discuss FHA’s mortgage insurance policies on affordable homeownership programs, including Community Land Trusts and deed-restricted properties.  During the Roundtable, HUD outlined its plans to waive several current restrictions …

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Twelve Facts That May Surprise You About the Housing Bust.

What if the conventional wisdom about the mortgage crisis is all wrong? That’s the implication of a new paper from economists at the Federal Reserve Banks of Atlanta and Boston that’s bound to spark debate because, if their premises are correct, it sharply undercuts the justification for much of the new regulation that’s been erected over the past two years. Three …

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Mortgage giant Freddie Mac asks government for $19M; posts $1.2B loss in Q1

Washington Post By Associated Press, Updated: Thursday, May 3, 9:46 AM WASHINGTON — Government-controlled mortgage giant Freddie Mac is requesting $19 million in additional federal aid after posting a loss for the first quarter of this year. The requested amount is less than the $146 million that Freddie received from the government for the fourth quarter of 2011. The company received $7.6 …

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Plot Thickens on Mortgage Write-Down Debate.

Fannie Mae conducted small tests to forgive debts of homeowners who owed more on their mortgages than the properties were worth in 2010. But the mortgage-finance company didn’t expand the pilot programs after concluding the programs were difficult to operate and the benefits weren’t clear, according to a letter from the firms’ federal regulator. The letter, released Tuesday, disclosed that …

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