Program Changes Hope to Help Underwater Homeowners - 10/24/11 10:30 PM
The Federal Housing Finance Agency is easing the terms of the Home Affordable Refinance Program in order to help the estimated 11 million homeowners who have been making their mortgage payments but are unable to refinance because their loans are worth more than their homes. The HARP program has helped more than 890,000 homeowners since its launch but has been criticized for inefficiency. The changes hope to streamline the program and include allowing homeowners that owe more than 125 percent of the market value of their home to get new loans. Edward DeMarco, acting director of the FHFA, said the goal … (3 comments)

Senators Urge Administration To Adopt Changes To Refi Plan - 10/17/11 10:53 PM
With mortgage rates hovering near all-time lows, a bipartisan group of senators has sent a letter urging the Obama administration to make changes to the Home Affordable Refinance Program in order to help more homeowners take advantage of the historically low rates. More than 13 million homeowners have refinanced their mortgages since 2009, saving nearly $20 billion. But federal programs put in place to boost the number of homeowners able to refinance their mortgages have been slow moving and received criticism for inefficiency. The senators’ letter said time is of the essence and urged the administration to act quickly and aggressively … (0 comments)

Survey Tracks Attitudes Toward Economy, Housing - 10/10/11 10:22 PM
 
 
Fannie Mae’s September National Housing Survey polled 1,002 Americans to assess their attitudes toward homeownership, renting a home, mortgage rates, the economy, and their household finances. The September survey found Americans continue to link their personal finances with the state of the overall economy. But despite a generally pessimistic view of the economy, the number of Americans who expect their personal financial situation to worsen in the next year decreased for the first time in four months. A majority of respondents expressed a preference for buying a home rather than renting. Among participants, 63 percent said they’d buy their … (2 comments)

 
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Jan Delimont, Principal Broker

Coos Bay, OR

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