FDIC has a PlanTo Save 4 million Homes from Foreclosure - 11/15/08 02:56 PM
 FDIC Proposes to Guarantee 2.2 Million Modified Loans
The idea is to help borrowers with weak credit or small down payments. Borrowers would get lowered interest rates or longer loan terms to lower payments. This program can last for a period of time, giving owners some breathing room. The program would attempt to keep monthly payments under 31% for weak borrowers.
According to the FDIC site: The pace of loan modifications continues to be extremely slow (around 4 percent of seriously delinquent loans each month). Basic Structure of the Proposal 1. By paying providers $1,000 to cover expenses for each … (0 comments)

Housing Can Save the Economy - 11/09/08 04:01 PM
  National Association of Realtors in Orlando
Lawrence Yun, economist for NAR at the Orlando conference notes that the depth of the current recession depends on the housing market’s recovery, and that will depend on stabilizing prices and inventory absorptions Home sales showed their first increase in three years during the last quarter. Yun “We are beginning to come back, but recovery won’t happen until inventories are reduced from their current 10-month levels back to a more normal six months. Even more critical to a housing recovery are stabilizing home prices. Only then will new buyers get back into the marketplace … (4 comments)

 
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Howard Sobel

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