Tax Credit Helps Homes Sales Increase

Home sales increased in March in all four regions of the U.S., led by a 44% increase in the southern states.  Demand for existing homes could remain elevated through the end of this month as more first time home buyers try to take advantage of the first time home buyer tax credit which will end [...]

Foreclosure Prevention Program, Fixer Upper Or Turn Key Ready?

On Thursday the House Committee on Oversight and Government Reform examined the impact of the Treasury’s foreclosure prevention efforts.  The hearing, “Foreclosure Prevention: Is the Home Affordable Modification Program Preserving Homeownership?”, devoted the majority of time to the Home Affordable Modification Program (HAMP). The Home Affordable Modification Program (HAMP) has been under fire since being [...]

Strategic Mortgage Defaults A Cause For Concern

A new report from the National Consumer Law Center (NCLC) titled “Why servicer’s foreclose, when they should modify, and other puzzles of servicer behavior”, says the number of borrowers expected to walk away from their homes is projected to increase. This is known as strategic default, when a borrower decides to stop making payments on [...]

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