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 | Dennis Norman The U.S. Department of the Treasury and the Department of Housing and Urban Development today released their “October 2010 Scorecard”on the “Obama Administration’s Efforts to Stabilize the Housing Market”. The scorecard points out the success of “The President’s housing market recovery efforts”but does point out that “data in the scorecard [...] Ted Gayer,Co-Director of Economic Studies,Brookings Institute The U.S. Department of the Treasury and the Department of Housing and Urban Development released June data for the Obama administration’s Home Affordable Modification Program (HAMP). HAMP is the foreclosure prevention program targeted at borrowers who are delinquent in their mortgage payment or facing imminent risk [...] Dennis Norman I don’t think I need to tell real estate investors about the record foreclosure rates we have seen as well as the unprecedented number of people that are struggling to make their house payments. As a result,there are many good opportunities out there for real estate investors to acquire property at [...] UPDATE- June 2,2010:The National Association of REALTORS obtained answers from the Treasury Department on 3 common questions about HAFA: agents are not permitted to rebate a portion of their commission to the buyer,sellers who are real estate agents must list their home for sale with another broker,not their own broker,and [...] Dennis Norman The Treasury Department Plans to Spend $50 Billion on HAMP…Is it Going to “help keep “3 to 4 million Americans in their homes”as Promised Though? Last week Herbert M. Allison,Assistant Secretary for Financial Stability for the U.S. Department of the Treasury,testified before the House Committee on Oversight and Government [...] Dennis Norman Back in early December I did a post on a different blog about a new program that was announced in November,the Home Affordable Foreclosures Alternative (HAFA) Program which is scheduled to go into effect April 5,2010. HAFA is a program to help provide alternatives to homeowners that are facing foreclosure. [...] Dennis Norman Today the Federal Housing Finance Agency released it’s “Foreclosure Prevention &Refinance Report for the Third Quarter 2009“. This report gives data on Fannie Mae and Freddie Mac,the two-quasi-government agencies that either own or insure most of the home loans in the U.S.,including how foreclosure prevention and loan modification programs [...] Dennis Norman This week the Treasury Department issed a report which included stats on the Home Affordable Modification Program (HAMP) which is part of the Obama administrations’Making Home Affordable Program and “is a loan modification program designed to reduce delinquent and at-risk borrowers’monthly mortgage payments”. The HAMP program got underway around March [...] | ||||
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