All those wishing for Congress to extend the Homebuyer Tax Credit are now one legislative body closer to getting their wish. In a vote today the House of Representatives approved moving the closing date for those under contract to September 30, 2010. The next hurdle will be having the Senate pass a bill that can immediately . . . → Read More: House Votes To Extend Homebuyer Tax Credit
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The current loan modification program is a cruel hoax that only prolongs the agony of those seeking to avoid foreclosure. It’s time to move ahead. . . . → Read More: Forget Modification And Move Ahead With Foreclosure While the number of banks pursuing deficiency judgments has increased dramatically, a little known twist may help certain homeowners whose lender may have “cheated” during the application process. . . . → Read More: Banks Pursuing Deficiency Judgments May Have Something To Fear  Comments are closed  Foreclosures, Mortgages, Uncategorized  Deficiency judgments, foreclosure, Mortgages, short sale Following the expiration of the Housing Tax Credit, single-family housing starts continue to fall, and are now 17.2 percent below the revised April number of 565,000. Seasonally adjusted starts for May were 468,000, the lowest level in the past year. A decline in BUILDER CONFIDENCE seems to have been confirmed as single-family building permits fell by 9.9 . . . → Read More: Housing Starts Continue To Fall Comments are closed Housing Statistics, Predictions, Uncategorized building permits, housing crisis, housing starts The latest numbers from The National Association of Home Builders/Wells Fargo Housing Market Index shows that builder confidence has once more taken a negative turn. With declining sales following the expiration of the Housing Tax Credit, home builders now realize that there is no sustainable housing recovery, and that the early spring surge was nothing more . . . → Read More: Builder Confidence Turns Down–Again 3 comments - (Comments are closed) New Homes, Predictions, Uncategorized builder confidence, housing crisis, recession A bill just introduced in the Senate would extend the deadline for the Housing Tax Credit by 90 days, according to an ARTICLE in The Washington Post. The bill, supported by the NAR, would grant those already under contract and extra three months to get their deal closed. Many lenders, suffering from an overload of mortgage . . . → Read More: Proposed Senate Bill Extends Deadline For Housing Tax Credit While the unemployment numbers reported by the Labor Department seem to reflect continued growth, the underlying truth is that we’re still bleeding jobs. A quick analysis of the actual numbers shows just how wrong such reports are. . . . → Read More: Did The Unemployment Rate Really Improve? While consumers are earning less and owing more, a more disturbing element is the record number of defaults against credit card debt. . . . → Read More: Private Pay Shrinks As Debt Increases According to an article in Freep.com, home prices are not expected to appreciate for three to five years. And while this may be bad news for those looking to sell their home, it removes some of the pressure from those who may feel compelled to purchase before prices escalate. The news is bad for builders, however, as . . . → Read More: Home Prices Are Not Expected To Appreciate For Three To Five Years 2 comments - (Comments are closed) Buying Homes, Predictions, Selling Homes Foreclosures, home prices, housing crisis With millions of unemployed, defaults and foreclosures at record rates, government and individual debt loads unsustainable, our economy teeters on the brink of collapse. Unless serious strategic changes are made, the future of our country hangs in the balance. . . . → Read More: The Precarious Position Of The American Economy Comments are closed Foreclosures, Predictions, Uncategorized debt, financial crisis, housing crisis, unemployment |
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