More Than 170,000 Troubled Homeowners Get Aid
Fri, 03/12/2010 - 12:56
More than 170,000 troubled homeowners have received permanent modifications under the Obama administration's foreclosure prevention program, CNNMoney reports.
An additional 91,800 permanent modifications have been approved by servicers and are pending borrower acceptance. And more than 88,600 people have been denied lasting help because they did not meet the progra ...
Mortgage Relief Plan Has Helped 7 Percent Of Borrowers Who Signed Up
Fri, 01/15/2010 - 16:54
According to USA Today, the Obama administration's mortgage relief plan provided help to only 7 percent of borrowers who signed up last year.
As of last month, only about 66,500 homeowners of the 900,000 enrolled had received permanent relief last year, the Treasury Department said Friday. Another 46,000 have been approved and should be completed ...
Obama Urges Banks To Help Rebuild Our Economy
Mon, 12/14/2009 - 16:30
According to CNNMoney, President Obama met with Wall Street bankers Monday and urged them to make more loans and modify mortgages to help taxpayers who propped their banks up with federal bailouts.
"My main message in toda ...
Housing Market Continues To Cater To Home-buyers; Mortgage Rates Reach Record Low
Fri, 12/04/2009 - 17:04
According to Reuters, U.S. mortgage rates fell to a record low this past week, as rates dropped for the fifth consecutive week, an observation mortgage survey showed Thursday.
Mortgage rates are currently the lowest they've been in decades, but the advantage for home-buyers has allowed the market to sustain in the spiraling recession.
...
US Treasury Pressures Lenders On Home Loan Adjustments
Sat, 11/28/2009 - 23:29
According to Bloomberg, the U.S. Treasury Department increase public pressure on lenders to completion of modifying more home loans to borrowers in jeopardy thanks to a $75 billion campaign ...
JPMorgan Chase To Hire 1,200 Mortgage Loan Officers
Tue, 11/10/2009 - 17:50
According to CNNMoney, JPMorgan & Chase will hire 1,200 mortgage loan officers as the bank expands its home loan business.
"We have invested in new systems, aggressively ...
About 650,000 Homeowners Enter Into Trial Loan Modifications
Tue, 11/10/2009 - 10:41
According to Reuters, the Treasury Department said on Tuesday more than 650,000 homeowners have entered into trial loan modifications under President Barack Obama's plan to help the housing market.
T ...
Senate Extends Unemployment Aid For Up To 20 Weeks
Wed, 11/04/2009 - 18:05
According to The Associated Press, the Senate voted unanimously Wednesday to provide the jobless with up to 20 weeks in additional unemployment benefits and expand a first-time homebuyer tax credit to include a far ...
500,000 Helped By Obama Mortgage Rescue
Thu, 10/08/2009 - 12:29
According to CNN, loan servicing companies have put 500,000 troubled borrowers into trial mortgage modifications, the Obama administration said Thursday.
The administration set that target in late July after it came under fire for not helping homeowners fast enough.
...
Another Wave Of Foreclosures Looms
Wed, 09/09/2009 - 07:14
The housing market faces the prospect of a new round of foreclosures as hundreds of thousands of risky home loans known as option adjustable-rate mortgages reset to significantly higher payments that could force borrowers to fall behind, according to a report released Tuesday by Fitch Ratings.
About 70 percent of the $189 billion in outstanding option ARMs will reset by 2011, the report said, which would be another setback to a teetering housing market still struggling to recover from ...
