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Monthly Archives: February 2012
Minority Group Unveils $1.2 Billion Industry-Led Housing Fix
The National Association of Real Estate Brokers, Inc. (NAREB) announced the launch of a 25-city, $1.2 billion industry-led solution to the nation’s housing crisis called the Homeowner’s Assurance Program (HAP). NAREB was formed in 1947 by African American real estate … Continue reading
Mello-Roos Fees Not Tax-Deductible
As the deadline for filing income taxes draw near, here is something to take note. Mary Ann Milbourn, in her column “Handling Hard Times” in the Orange County Register, posted this article on January 9, 2012, “State Targets Property-Tax … Continue reading
The Future of our Housing Market
The Mortgage Electronic Registration Systems (MERS) is an American privately held company that operates an electronic registry designed to track servicing rights and ownership of mortgage loans in the United States. Never heard of MERS? Read The New York Times’ … Continue reading
Obama Proposes Extending Mortgage Debt Forgiveness Relief
Obama’s FY2013 budget proposal includes an extension of the Mortgage Forgiveness Debt Relief Act of 2007. The Act ensures that homeowners who received principal reductions or other forms of debt forgiveness on their primary residences do not have to pay … Continue reading
Posted in Uncategorized
Tagged Debt relief, Mortgage Forgiveness Debt Relief Act of 2007, Tax
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Is the Housing Picture Getting Brighter?
I am certain everyone affected by the economic and housing crisis is feeling a little vindicated that irresponsible lenders are starting to be held accountable for their actions. The $25 billion settlement recently reached is not the end, but the … Continue reading
Number of ‘Improving’ Housing Markets Expands to Nearly 100
In the Improving Markets Index published monthly, First American and the National Association of Home Builders (NAHB), added 29 metros to the number of housing markets showing measurable improvement in February for a total of 98 markets represented in thirty-six … Continue reading
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Tagged Improving Market Index, NAHB, National Association of Home Builders
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Housing Crisis to End in 2012
Music to everyone’s ears, isn’t it? Well, Capital Economics, an analytics firm, expects the housing crisis to end this year, according to a report released last Tuesday. One of the reasons: loosening credit. The average credit score required to obtain … Continue reading
Posted in Uncategorized
Tagged Capital Economics, Credit score, Eurozone, Loan-to-value ratio, Mortgage loan
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Time To Stop Throwing Good Money After Bad
It was just last summer that Charlotte Perkins made the hardest decision of her life as she and her husband Jim were caught in the vise of the housing bust. Wanting to downsize their lives as they headed toward retirement, … Continue reading
Short Sale Lottery?
At first, the San Leandro woman, who had fallen behind on her condo payments, thought the letter was a scam. “You could sell your home, owe nothing more on your mortgage and get $20,000,” it proclaimed in large type. “I … Continue reading
Feds and Banks Reached $25B Foreclosure Abuse Deal
The $25 billion settlement with the five biggest banks related to foreclosure abuses including “robo-signing” of documents is the largest multi-state settlement since the Tobacco Settlement in 1998, said the Department of Justice. California will receive a big chunk of … Continue reading
Lily Nyland 