Will Homeowners Really Be Helped by New HARP Changes?

Recently the Obama administration announced changes to the Home Affordable Refinance Program (HARP) that are aimed at helping homeowners refinance mortgages, even when there is no equity in their homes. Their goal is to help the millions of homeowners and prevent more foreclosures, but what is involved and will it really work? Some of the…

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Will Obama Job Plan Really Help Housing Market?

After many real estate industry complaints that the new Obama administration recovery plans did nothing for housing (aside from refinancing assistance plans, which as we all know still require lender cooperation), out comes a plan with that goal in mind. But will this new plan really help distressed inventory and jobs, or is it merely…

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Should the Government Intervene in the Real Estate Market?

The government has played an integral role in the real estate market for a very long time. But lately there have been two diametrically opposed views – and many in between – as to whether it should continue to do so. I posed this question to agents and the responses were very interesting. The pro-government…

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Could Elimination of Housing Counseling Programs Hurt YOU?

In what I personally think is a big mistake, Congress announced that it is eliminating $88 million in funds for housing counseling programs. These are the programs that allow struggling homeowners and others with questions to call in and get counseling advice. It is often the first step in pre-foreclosure, or even in avoiding foreclosure…

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Distressed Property Market Update

Much has been going on lately in the distressed property market. Here is the week’s news. Regulators say lender punishment agreement is getting closer: While we have been hearing for weeks, maybe months (I lost count) about lender punishment in the robo-signing scandal and what form it will take, apparently an agreement is close. Keep…

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Federal Foreclosure Mitigation Programs to be Axed

Four federal programs that were created to help troubled homeowners escape the foreclosure ax are on the endangered list this week. Included are HAMP, the FHA’s short refinance program, HUD’s Neighborhood Stabilization Program and the Emergency Homeowner Relief Fund. While created with good intentions of helping millions of borrowers, these programs in reality have all…

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Government May Help Pay for Your Home Improvements

The Department of Housing and Urban Development (HUD) recently announced that it has initiated a program that could help you pay for home energy improvements. This program will grant loans, called FHA PowerSaver Loans, to credit-worthy borrowers up to $25,000 to make energy efficient improvements of their choice. PowerSaver loans will be backed by the…

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