Posted on February 28th, 2010, by DHW
On Monday, a federal judge heard testimony from Virginia homeowners suing Chinese drywall maker Taishan Gypsum Co. The plaintiffs blame the company’s toxic drywall for causing damage to their appliances, electronics and central heat and air systems and are seeking over $2.5 million in damages.
Although U.S. District Judge Eldon Fallon did not immediately rule on [...]
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Posted on December 29th, 2009, by DHW
Press Release – “HUD to assist homeowners facing problem drywall. Temporary relief available to make home repairs affordable for at-risk borrowers.”
DHW asks: Do you or someone you know have Chinese drywall?
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Posted on December 15th, 2009, by DHW
In an effort to reduce unemployment and increase the number of energy-efficient homes, President Obama is pressing Congress to pass incentives for homeowners who retrofit their homes.
The president is scheduled to tour a Home Depot in Virginia on Tuesday to make his case that creating more energy-efficient homes will create jobs and save families money [...]
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Posted on November 23rd, 2009, by DHW
The Mortgage Bankers Association released a sobering report showing the housing recovery has a long road ahead. Here are some highlights (or low-lights) of their report.
1-in-4 of every Florida mortgage is behind in payments or in foreclosure
Nationally, 14 percent of mortgages are behind in payments or in foreclosure
Lost jobs are the main cause of homeowners [...]
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Posted on November 17th, 2009, by DHW
Using some of the interest paid back to the government on money lent under TARP, Rep. Barney Frank is proposing a bailout for homeowners who are having difficulty making mortgage payments due to unemployment.
The Obama administration’s plan to fix the mortgage crisis has been criticized for being light on aid to unemployed homeowners. A congressional [...]
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Posted on November 9th, 2009, by DHW
Last week, CitiMortgage suggested in a USA Today article that 1 in 5 homeowners currently in default of their mortgage are doing so strategically or voluntarily. They cite Sharon Sakson as one of these ’strategic defaults.’ Ms Sakson was laid off as a television writer and producer. After losing her job, she ‘burned through her savings to [...]
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Posted on November 7th, 2009, by DHW
DesperateHouseWise.com added a new page to its site. Modification Center offers helpful information for homeowners seeking a loan modification or refinance. Find information about Making Home Affordable and local foreclosure prevention events. You can even find a free, HUD-approved housing counselor.
DHW also added Housing Tax Credits. This page provides in-depth information regarding the recent extension and [...]
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Posted on November 5th, 2009, by DHW
Fannie Mae is expanding its ‘Deed for Lease’ program to help thousands of homeowners facing foreclosure. The program is designed for those who want to stay in their homes but do not qualify for President Obama’s loan modification program. Participants transfer their title to Fannie Mae and rent back for up to one year.
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Posted on October 27th, 2009, by DHW
‘The Standard & Poor’s/Case-Shiller home price index of 20 major cities climbed 1 percent from July to a seasonally adjusted reading of 144.5. While prices are down 11.4 percent from August a year ago, the annual declines have slowed since February.’ However, industry experts remain concerned with rising unemployment.
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