Category Archives: Featured
Military First-Time Homebuyers Get New Assistance Program
In an effort to help both veterans and active-duty military members participate in today’s housing market, the Pentagon Federal Credit Union (PenFed) Foundation is offering a new program to first-time, military homebuyers called the Dream Makers Program[1]. The program is designed to help eligible military members – including employees of the U.S. Department of Defense … Continue reading
Attorneys General Moving Out on Their Own in Lending Settlement
Although the news has been full of information about the proposed settlements between lenders accused of foreclosure negligence and outright fraud and the 50 state attorneys general, in reality the settlement may be farther away than the banks might hope. As several AGs begin to voice objections to the proposed settlement and its terms, they … Continue reading
Home Prices Not At Bottom Yet
Although there are some small, promising signs that the housing market may be working toward a slow recovery, analysts warn that home prices are not at bottom yet[1]. Thanks to restricted financing – particularly when it comes to real estate investors – and an oversupply of homes for a dwindling population of first-time homebuyers, the … Continue reading
Bank of America Fights, Loses to Nevada HOAs
Recently, Bank of America filed suit against myriad Nevada homeowners’ associations (HOAs), claiming that it did not have to pay fees and collection costs before gaining clear title on foreclosed properties. The lender alleged that HOAs and their associated collections agencies were collecting on “inflated assessments and collection costs that buyers of foreclosed homes are … Continue reading
Lead Paint Regulations Stalled in House of Representatives
Controversial lead-paint regulations have been stalled in the House of Representatives, for the time being, at least. The National Association of Realtors (NAR) recently announced that until the Environmental Protections Agency (EPA) meets obligations to provide information and equipment that would enable businesses to comply with the proposed Lead Renovation, Repair and Painting (LRRP) rules, … Continue reading
FTC Sends Out $108 Million to Countrywide Homeowners
More than 450,000 Countrywide borrowers will be getting checks in the mail from the Federal Trade Commission as payback for excessive fees collected from borrowers struggling to keep their homes[1]. This is one of the largest judgments ever in an FTC case and it is the largest settlement yet in a mortgage servicing case. Jon … Continue reading
Lower Home Prices Associated with Lower Divorce Rates
You’ve heard of staying together “for the kids,” but how about staying together “for the house?”According to a new study by the American Economic Review (AER), when housing prices fall, so do divorce rates[1]. In 2009, the divorce rate fell four percent, from 50 percent to 46 percent, over 1996. AER believes that couples are … Continue reading
FTC Announces It Will No Longer Enforce Mortgage Relief Provisions
Citing confusion and misleading information, the Federal Trade Commission (FTC) announced last week that it will no longer require real estate agents to make certain disclosures to distressed homeowners hoping to obtain short sales[1]. The disclosures were part of the Mortgage Assistance Relief Services (MARS) rules that were designed to protect homeowners from being mislead … Continue reading