From the monthly archives:
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 [...]
Continue Reading: Donovan, Sanford and Tax Foreclosure Properties
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 [...]
Continue Reading: Governors’ Mixed Reaction to Foreclosure Plan
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.
Continue Reading: Support for Obama’s Foreclosure Plan Comes from Various Sectors
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.
Continue Reading: Investors Await Details of Obama’s Foreclosure Prevention Plan
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.
Continue Reading: First-Time Homebuyers Gain from Foreclosure Plan
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.
Continue Reading: Stock Prices Drop as Investors Await Obama’s Foreclosure Relief Plan
Foreclosures in California and Florida have dropped significantly from December to January.
Continue Reading: Foreclosures Decrease in California and Florida
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