Today’s news that may be of interest to you:
Mortgage refi plan targets hard-hit borrowers
MarketWatch | October 24, 2011
President Barack Obama on Monday is due to unveil a changed mortgage refinance plan that would allow homeowners who have suffered steep price declines on their properties to get cheaper loans.
Obama’s Efforts to Aid Homeowners Fall Short
The Washington Post | October 24, 2011
Housing woes continue to plague the U.S. as the president plans to visit today the foreclosure capital of the nation, Nevada, and mention a program that will reduce monthly payments for some underwater borrowers.
Twelve Questions on Obama’s Refi Plan
The Wall Street Journal | October 23, 2011
The Obama administration is revamping a program that’s designed to let more homeowners refinance their mortgages even if they don’t have any equity.
Zillow: Case-Shiller Likely Fell 3.8% in August
HousingWire | October 21, 2011
Two key indices of home prices likely fell in August, suggesting large numbers of foreclosures and continued high joblessness are acting as a drag on the market, according to a new forecast.
Fannie, Freddie Overseer Looks to Boost Ailing Housing Market
The Hill | October 23, 2011
Housing policy could take center stage next week if a federal regulator and the Federal Reserve move forward with plans to help struggling homeowners.
Swiss Banks May Pay Billions to U.S., Disclose Client Names
Bloomberg | October 23, 2011
Swiss banks will likely settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts, according to two people familiar with the matter.
HUD Offers REO Homes For $100 Down in Select States
DSNews.com | October 24, 2011
HUD has approved a program aimed at putting foreclosed homes back into the hands of owner-occupant buyers. In select states, from now into October of next year, buyers need a down payment of only $100 to purchase a HUD-owned REO home.
From the National Association of Realtors®:
Investors See Bigger Profits From Rising Rents
It’s a good time to be a landlord, investors are finding. Rental demand and prices are rising, allowing more investors to cash-in on their rental properties.
Incentives Grow to Get Struggling Home Buyers Moving
With distressed properties accounting for 30 percent of existing-home sales, more real estate professionals are finding a growing part of their job is offering struggling home owners “cash for keys
Anthony V. Carollo / President
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