Jan 5th 2012 1:30PM
Most of Washington's initiatives to staunch the flow of foreclosures glutting the housing market have been woefully inadequate. (We're looking at you, HAMP, HAFA and HARP). But a new idea put forth by Federal Reserve Chairman Ben Bernanke might actually make a dent in the bank-owned backlog: Allow renters to move into... Continue Reading »
Oct 25th 2011 11:00AM
WASHINGTON -- Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. One in four homeowners with a mortgage -- 11 million people -- owe more than their home is worth. These "underwater" borrowers have virtually no shot at refinancing. Their plight is a drag on... Continue Reading »
Oct 24th 2011 5:09PM
Let's hold off blaring the triumphant trumpets just yet for President Obama's plan to allow holders of underwater loans to refinance at a lower rate through revisions in the Home Affordable Refinance Program. What this change does is amend the loan-to-value ratio in a refinance. By removing the cap on how upside-down you... Continue Reading »
Oct 24th 2011 10:40AM
By Nick Timiraos The Obama administration is revamping a program that's designed to let more homeowners refinance their mortgages even if they don't have any equity. This isn't a new program, but instead attempts to turbo-charge an existing federal initiative called the Home Affordable Refinance Program. Here's a look at... Continue Reading »
Dec 24th 2010 8:00AM
Looking back on 2010, the year in real estate was, in a word, terrible. Property values continued to fall, foreclosures rose, and even the lowest interest rates in 50 years seemed to have little positive effect on the property market. For U. S. real estate, 2010 was the year of failed government intervention where nothing... Continue Reading »
