July 1, 2009 - By Renae Merle - Washington Post Staff Writer
The Obama administration announced today an expansion of a key part of its foreclosure prevention program to allow more homeowners who owe more than their home is worth to refinance into lower-cost mortgages.
The effort is an acknowledgment by the administration that falling home prices limited the impact of its housing program, Making Home Affordable. Under the program, homeowners could refinance if their mortgage did not exceed the value of their home by more than 105 percent. Now, the administration is expanding the program to homeowners who are up to 125 percent underwater on their loan. more ...
Showing posts with label Refinance. Show all posts
Showing posts with label Refinance. Show all posts
Wednesday, July 1, 2009
Sunday, June 28, 2009
Can Obama keep up with home prices?
June 27, 2009 - by Carla Fried - CNNMoney.com
Good news or bad news? The National Association of Realtors reported Tuesday that 33% of May existing-home sales were distressed (read: foreclosures and short sales) and the median sales price is now $173,000.
If you’re employed by the glass-half-full NAR, you need to spin that as good news, and the eternal optimists did not disappoint. The trade association pointed out that the share of sales that were distressed has declined from the 45% rate in April. more ...
Good news or bad news? The National Association of Realtors reported Tuesday that 33% of May existing-home sales were distressed (read: foreclosures and short sales) and the median sales price is now $173,000.
If you’re employed by the glass-half-full NAR, you need to spin that as good news, and the eternal optimists did not disappoint. The trade association pointed out that the share of sales that were distressed has declined from the 45% rate in April. more ...
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