20 Democrats of the House of Representatives are urging for Fannie Mae and Freddie Mac to reduce the mortgage principal of borrowers who owe more than their home is worth. The
Representatives argue that this action would reduce the risk of defaults for 20% of Freddie and Fannie mortgages.
On the other side of the debate, the regulators of Fannie and Freddie, the Federal Housing Finance Agency, refuse to act due to concerns that writing down principal balances will create a ‘moral hazard by prompting other borrowers to cease in making loam payments on … (2 comments)
market information: Bright News In the Housing Market
- 10/24/11 05:19 AM
Rental Market Is The Housing Market's Bright Spot: When housing prices drop, sellers and buyers look for different options. 1.4 million households have decided to move into rental housing this year—a 4% rise of the number of tenants from last year. Home ownership has dropped 1.5% in that same time. Most of this rental demand is being generated from young couples and newly built households who are postponing homeownership. But as always, this trend is like a pendulum and as demand for rentals increase, vacancy rates are dropping and rents rising. Look for new multi-dwelling constructions, higher priced monthly dues, and … (2 comments)
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