Real estate

The new Loan Modification Plan may be hurting some investors while helping others. First lien holders are complaining that they have lost priority under the new Making Home Affordable program. Many investors believe the program could help the housing market but they also want to share the losses with second lien holders. One report suggested [...]

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The Obama administration continues to search for a solution for homeowners facing foreclosure, the reality of the situation is only about 4 percent of these at-risk homeowners receive long-term mortgage help, according to a recent report by CNN.com.  Nearly 2 million housing units in the U.S. are in foreclosure or are bank-owned, and more are [...]

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If short sales are becoming  or are already a big part of your business, this article from DS News is very important to you. http://www.dsnews.com/articles/treasury-releases-guidance-for-making-home-affordable-short-sales-2009-12-01 The Treasury Department has passed new gudlines that should make closing short sales much easier. Some highlights include: 1. The Treasury Dept. offering $1,000 incentive to servicers who approve a short sale. 2. [...]

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Expanded foreclosure program So many foreclosures are about to roll through the system that the Obama administration plans to expand a program aimed at helping people remain in their homes.  The goal of the announcement, expected today, is to increase the rate at which troubled home loans are converted into new loans with lower monthly [...]

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According to the Congressional Oversight Committee (COP), unemployment is presently driving a fifth wave of foreclosures, but analysts at Amherst Securities say that negative equity is far more predictive of home loan defaults than unemployment. The question is critical, because the policy response depends on the answer: if coming defaults are caused by unemployment, then [...]

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