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 [...]
Tags: cash for caulkers, congress, homeowners, incentives, Obama
The Capital published an intriguing article addressing the potential side-effects of expanding the housing tax credits beyond first time homebuyers. The article raises some fair questions with regard to existing homes needing to be liquidated so that current homeowners can take advantage of the housing tax credits now afforded to them. The Capital article focuses on [...]
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From The Washington Post : ‘FHA’s cash reserves have dropped well below amount required by law, audit shows’
DHW asks: Do you think the FHA’s reserves will hit zero?
FHA loan limits in your area
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In a CNBC interview this morning, Realogy CEO, Richard Smith, called on FHA to increase its minimum required down payment of 3.5%. Mr Smith suggested the ‘risk profile’ will have to change to stave off foreclosures. This argument only perpetuates the myth that those who put less money down are somehow less attached to their [...]
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Critics of the Housing Tax Credit were quieted, if only briefly, when the National Association of Realtors (NAR) released data for third quarter home sales. According to the trade group, home sales increased by nearly 6% over this same time last year. Despite the spike in sales, prices have fallen more than 11% during the [...]
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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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President Obama signed bill H.R. 3548, extending unemployment benefits for all states and extending the $8,000 Tax Credit for first home buyers. The bill also creates a $6,500 tax credit for those home buyers who have owned their current primary residence for at least 5 years. See ‘Housing Tax Credits’ for more details. You can [...]
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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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President Obama’s next door neighbors in Chicago are finding it difficult to unload their 6,000 square foot home. The property is located in the south side neighborhood of Hyde Park. Final sale of the home will require a secret service background check for buyers.
DHW asks: Would you want to live next door to the President?
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The US congress passed a resolution last Thursday to extend the current loan limits for FHA, Fannie Mae and Freddie Mac loans through calender year 2010. The resolution still requires President Obama’s signature, which is expected shortly.
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