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Real Estate News Today 2-3-2012

03 Feb

 

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

Obama Administration to Move Forward with Closing Fannie Mae, Freddie Mac
The Washington Post | February 2, 2012
The Obama administration plans to push forward this spring with efforts to wind down government-backed housing giants Fannie Mae and Freddie Mac and attract more private funding to mortgage markets, Treasury Secretary Timothy F. Geithner said Thursday.  (I cannot say I saw this coming this quickly.  I imagine he’ll have to wade through some pretty stiff political current to get it done.  ~Anthony)

Experts React to Obama’s New Housing Plan
The Washington Post | February 2, 2012
President Obama unveiled a new plan on Wednesday that the administration says would give 3.5 million underwater homeowners the ability to refinance their homes. We asked a group of experts across the political spectrum to weigh in on Obama’s proposal. Here are their e-mailed reactions:

U.S. Senate Adopts Measure to Ban Bonuses at Fannie, Freddie
Bloomberg | February 2, 2012
The U.S. Senate passed a prohibition on executive bonuses at Fannie Mae and Freddie Mac (FMCC), the government-controlled mortgage companies that are dependent on taxpayer aid.

Tighter Lending Holding Back U.S. Housing Market, Miller Says
Bloomberg | February 2, 2012
The U.S. real estate market would be expanding if lending standards were more balanced and credit more available, according to Jonathan Miller of Miller Samuel Inc.

Missing Housing Recovery Hurts the Economy: Bernanke
HousingWire | February 2, 2012
Federal Reserve Chairman Ben Bernanke told lawmakers a recovery minus housing growth is hurting the American economy. While testifying in front of a congressional committee, Bernanke acknowledged today’s slow recovery is significantly different from the pro-growth period that followed the early 1980s recession.

Your Next Landlord Might Be a Buyout Fund
BusinessWeek | February 2, 2012
Buyout funds see profits in turning foreclosed homes into rentals.

Fannie Mae: Don’t Expect ‘Normal’ Housing Market Until 2015
U.S. News and World Report | February 2, 2012
Americans will have to wait a few more years for the housing market to return to “normal,” an industry expert said Thursday.

Housing Counselor Stole from Clients; Gets 6 Years
The Wall Street Journal | February 2, 2012
A Buffalo housing counselor who stole nearly $300,000 from 136 people who came to her for help keeping their homes from foreclosure is going to federal prison.

From the National Association of Realtors®:

Man Pleads Guilty to Attacking Montana Agent
A man who posed as a home buyer pleaded guilty this week to sexually assaulting a real estate agent.  (Please, please be careful out there!  Sometimes you cannot avoid going to an appointment or manning an open house alone.  Learn self-defense, bring pepper spray, or do something else to defend yourselves.  ~Anthony)

Quarter of States Prove Recession-Proof ‘Pockets of Prosperity’
Nearly a quarter of states were not badly hit by the recession, and in fact, saw wages and median household incomes grow throughout the downturn, a new study finds. Learn where the “pockets of prosperity” are.

Rural Refinance Pilot Program Announced
A USDA plan could help rural home owners refinance their mortgages in order to reduce monthly payments.

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
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

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