Today’s Real Estate News 2-25-2011

25 Feb

Today’s news that may be of interest to you:

Bank Regulators Said to Push $20 Billion Foreclosure Settlement
BusinessWeek | February 24, 2011
U.S. regulators probing flawed and illegal mortgage-foreclosure practices may try to extract $20 billion of penalties in a settlement with banks that serviced the loans, according to two people briefed on the talks.

Lien on Me: IRS Eases Debt Rules
The Wall Street Journal | February 25, 2011
In a rare show of leniency, the Internal Revenue Service on Thursday announced new rules designed to make it easier for people struggling with tax debts to climb out of the hole.

U.S. Home Prices Fell 3.9% in 4Q: FHFA
HousingWire | February 24, 2011
U.S. home prices fell 3.9% in the fourth quarter when compared to a year earlier due to lingering unemployment and an oversupply of homes on the sales block, the Federal Housing Finance Agency said Thursday in its seasonally adjusted purchase-only house price index.

Fannie Mae, Freddie Mac Seek $3.1 Billion Amid Improved Earnings
Bloomberg | February 25, 2011
Freddie Mac and Fannie Mae, the mortgage-finance companies operating under U.S. conservatorship, requested another $3.1 billion in Treasury Department aid as they reported quarterly earnings reflecting improving health.

Geithner Seeks to Broaden U.S. Corporate Tax Overhaul Debate
Bloomberg | February 25, 2011
The Obama administration is seeking to widen the scope of its proposal to overhaul the corporate tax code, urging Congress to also change rules that allow some businesses to take advantage of tax laws governing individuals.

Four Federal Foreclosure Mitigation Programs on the Chopping Block
DSNews | February 24, 2011
Rep. Spencer Bachus (R-Alabama), chairman of the House Financial Services Committee, announced this week that he has scheduled a subcommittee hearing and full committee markup of four bills that will terminate what he says are “failed and ineffective housing foreclosure programs.”

From the National Association of Realtors®:

After High, New-Home Sales Drop Sharply
The Commerce Department reported today that new-home sales fell in January. This comes one month after new-home sales posted an unexpected surge that had sparked renewed optimism in the market.

Lending Revives Stalled Projects
Office, multifamily, and retail projects have gotten underway in recent weeks as new capital has flowed into the commercial real estate market.

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834

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