From the monthly archives:

February 2009

Donovan, Sanford and Tax Foreclosure Properties

by Elizabeth Rush on February 26, 2009

Housing and Urban Development Secretary Shaun Donovan defended President Barack Obama’s $75 billion foreclosure program by responding to critics who aver that the program is using the money of responsible taxpayers to support irresponsible borrowers, losers and speculators. There are some people saying that the foreclosure program is unfair to Americans whose assets became tax [...]

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Governors’ Mixed Reaction to Foreclosure Plan

by Elizabeth Rush on February 25, 2009

While some governors applauded President Barack Obama’s foreclosure plan, other governors who are mostly Republicans criticized the plan as unfair.
Jon Corzine, the Democratic governor of New Jersey, supports Obama’s plan. He said his own mortgage renegotiation plan for the state’s troubled homeowners can use funds from Obama’s program. New Jersey has created a foreclosure [...]

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Support for Obama’s Foreclosure Plan Comes from Various Sectors

by Jason MacDowell on February 20, 2009

Positive reactions on the foreclosure prevention initiative from mortgage professionals, local realtors and builders were noted a day after US President Barack Obama unveiled his program.

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Investors Await Details of Obama’s Foreclosure Prevention Plan

by Paul McCain on February 18, 2009

President Barack Obama is expected to release details of his $50 billion foreclosure prevention program, a day after he signed the $787 billion economic recovery bill.

The plan is expected to include measures to reduce the number of foreclosed homes and to create national standards for home loan modification.

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First-Time Homebuyers Gain from Foreclosure Plan

by Paul McCain on February 17, 2009

Under President Obama’s foreclosure plan, first-time homebuyers will be given up to $8,000 in tax credit, which they can claim in their returns for 2008 or 2009. The exact amount is the lesser value between $8,000 and 10 percent of the value of their home.

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Stock Prices Drop as Investors Await Obama’s Foreclosure Relief Plan

by William Dover on February 16, 2009

The Dow Industrials index dropped to 82.5 points, incurring losses of 5.2 percent as investors wait for details of President Barack Obama’s economic recovery bill which includes measures to help distressed homeowners avoid foreclosures. The 5.2 loss of Dow Industrials was its lowest since November 2008.

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Foreclosures Decrease in California and Florida

by Jason MacDowell on February 12, 2009

Foreclosures in California and Florida have dropped significantly from December to January.

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