With the economy still in the slumps, some homeowners might resort to selling their homes – but extreme caution must be taken as housing market is foreseen to further decline. Evidence shows that home prices may continue to decline – or plateau – in the next three years. CoreLogic revealed data saying that home prices remained unchanged in July, compared to Read full article »
Archives for Finance
Complaints On Lawyers Involved With Loan Modification Schemes Increasing
It is sad how, in the country’s economic state, some people can still think of taking advantage of those who are on the verge of losing their homes. State and federal laws included a loophole that attorneys are now using to milk some cash from homeowners who are struggling to keep their homes. When the financial and mortgage crisis settled in, Read full article »
Home Mortgages Dip In August For Shanghai
It looks like not only the United States government is experiencing a backlash on plans to salvage the housing market. The Chinese government may also have an unsuccessful plan on its hands as mortgages fall for the first time this year. Recently, the Chinese government launched a campaign that hoped to pull down the rocketing property prices. It may have boomeranged Read full article »
HUD Gives $1B To Curb Foreclosures
Even during the start of his administration, President Barack Obama already pledged a “war” against property and home ownership loss due to foreclosures. And the Department of Housing and Urban Development (HUD) is continuously supporting this fight against foreclosures, with a new round of contributions given on the week of September 5. HUD has given a third round of major contributions Read full article »
Real Estate Sale Talks Between Harvard And China Fund Flops
Even the country’s richest school is affected by the real estate slump. And it needs to take extra care when it comes to real estate investments – like canceling a deal with China's sovereign when its wealth fund collapsed. As real estate values fall, Harvard University’s property in investments missed the benchmark in year ending June 30. Even so, the school Read full article »
tags: Harvard, real estate
Where Did The Money Go?: Boca’s Escrow Account With Ripon City Almost Gone
The city of Ripon created an escrow account through money borrowed from tax incremental finance district (TID) No. 11. And now the money, which was given in loans and grants to fund the Boca Grande Capital work downtown, has – almost – vanished. In more than 10 months, the escrow account has been created and a developer’s agreement has been signed. Read full article »
“One Size Fits All” Not Fit For Housing Problem, Says Rosengren
With the housing market continually declining, maybe it’s time to review the current policies and programs in place to save the economy. Federal Reserve Bank of Boston president Eric Rosengren offers an opinion on effectively revising these. At a Federal Reserve-sponsored conference last Thursday, named “REO and Vacant Property Strategies for Neighborhood Stabilization last”, attendees got to hear Rosenberg say that Read full article »
Government-Sponsored Enterprises Get New Rules From FHFA
Goals are very important, especially within an economy that seems to still be on the downhill. The Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to establish the mortgage market goals for different target segments. The Freddie Mac and Fannie Mae conservator, therefore, has released its final housing goals for the government-sponsored enterprises. These Read full article »
Tenants Say “No” To Sale Of Their East Harlem Apartment
When you have experienced numerous incidents of bad treatment, it is but normal to walk away from another potential case of bad treatment. This is why it’s understandable how some tenants of several foreclosed East Harlem apartment buildings are staging a sort of protest against the new potential buyer of their apartment units. Having had to go through two landlords Read full article »
HAMP Leaves Thousands Of Homeowners Angry And Frustrated
Home Affordable Modification was launched by the Obama administration in March 2009 to help approximately three million homeowners avoid the dark clouds of foreclosures. More than a year from its launch, though, HAMP has kicked out more than half a million people from the program. And there’s much anger and frustration in the same people who placed their hopes in Read full article »
tags: HAMP, loan modification
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