Today’s news that may be of interest to you:
Foreclosure Fund Gets $600 Million to Help Residents of 5 More States Save Homes
The Washington Post | March 30, 2010
The Obama administration announced Monday that it is expanding by $600 million a fund aimed at helping states tackle the foreclosure crisis with locally tailored approaches.
Financial Reform Closer to Ending ‘Too Big to Fail’: Geithner
CNBC | March 29, 2010
The financial reform bill is moving closer to guaranteeing its two most important functions: that taxpayers will never again have to spend billions of dollars to rescue failing banks, and that institutions will never be considered too big to fail, Treasury Secretary Timothy Geithner told CNBC Monday.
Spurt of Home Buying as End of Tax Credit Looms
The New York Times | March 29, 2010
Nine hundred days after putting their house on the market, Andrew and Jane Palestini were beginning to think they might be stuck in Iowa forever. The looming expiration of the government’s housing tax credit pushed them into action.
Half of Commercial Mortgages to Be Underwater: Warren
CNBC | March 29, 2010
By the end of 2010, about half of all commercial real estate mortgages will be underwater, said Elizabeth Warren, chairperson of the TARP Congressional Oversight Panel, in a wide-ranging interview on Monday.
Cheap Mortgages May Last as Investors Take Over When Fed Leaves
Bloomberg | March 30, 2010
The Federal Reserve’s completion this week of its program to buy $1.25 trillion in mortgage bonds probably won’t mean significantly higher U.S. home loan rates as investors return to the market, replacing the Fed.
Homeowners Balk as Property Tax Bills Stay High
USA Today | March 30, 2010
Javier Hyland was furious when he got his latest property tax bill from Miami-Dade County. First, the county put the value of his ocean-view apartment at $417,000. He can’t see any way the place is worth more than $400,000 after a meltdown in the South Florida real estate market. Worse, the county assessed his neighbor’s bigger, nicer, newer flat at only $407,000: “Is that fair?” asks Hyland, a pricing manager for a shipping company.