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Keyword: homeowners

Brevity: Headers | « Text »
  • ‘Hanging over us’: Homeowners face uncertainty as I-395 plan ramps up

    04/10/2016 11:03:09 PM PDT · by Tolerance Sucks Rocks · 12 replies
    The Bangor Daily News ^ | April 10, 2016 | Nok-Noi Ricker
    BREWER, Maine — When Ken and Jo-Ann Arbo moved into their home in Eddington 22 years ago, they thought they found the perfect place to live.“I hunt right there. I fish out there. I snowmobile out there,” Ken Arbo said of the woods and fields near the couple’s home. “That is why we moved out there.”Now the Arbos face the real possibility of moving again.Their Lambert Road home is within the path of the controversial I-395/Route 9 connector, a proposed two-lane road from Brewer to Eddington meant to ease heavy truck traffic and improve safety on nearby routes 46 and...
  • The U.S. Could Switch to Mostly Renewable Energy, No Batteries Needed

    02/07/2016 8:37:18 AM PST · by Lorianne · 63 replies
    Smithsonian ^ | 25 January 2016 | Sarah Zielinski
    The United States could lower carbon emissions from electricity generation by as much as 78 percent without having to develop any new technologies or use costly batteries, a new study suggests. There’s a catch, though. The country would have to build a new national transmission network so that states could share energy.“Our idea was if we had a national ‘interstate highway for electrons’ we could move the power around as it was needed, and we could put the wind and solar plants in the very best places,” says study co-author Alexander MacDonald. Several years ago, MacDonald was curious about claims...
  • The Government Boldly Just Set Up Another Real Estate Meltdown

    01/13/2016 9:02:03 AM PST · by Kaslin · 18 replies ^ | January 13, 2016 | Michael Hausam
    Fannie Mae, the federally sanctioned mortgage giant, has just announced a new program that shows that they learned absolutely nothing from the last real estate meltdown. This new program, called "HomeReady" in a fit of hopeful and wishful thinking, reduces loan underwriting standards. It's designed to allow "underserved" individuals the opportunity to buy a home - focused primarily on low-income and minority borrowers. Other than the last group of under qualified borrower-friendly loans and regulations from the mid-2000s, it's the stupidest real estate loan idea that I've ever seen. The new loan "features" reduced credit score requirements and allows borrowed...
  • Lawsuit Accuses Missouri City of Fining Homeowners to Raise Revenue

    11/04/2015 5:20:28 PM PST · by proxy_user · 3 replies
    The New York Times ^ | MONICA DAVEY
    PAGEDALE, Mo. This spring, officials in this tiny city near St. Louis ordered Valarie Whitner to replace her siding; repaint her gutters, downspout and foundation; and put up screens or storm covers outside every window and blinds or curtains on the inside. And that was before the list of demands moved on to her roof, fence and yard. Ms. Whitner, 57, who works nights at a hospital, said she and her longtime partner felt swamped beneath the costs of paying for the city-mandated repairs and for fees, fines and court costs, which her lawyers say included at least $2,400 in...
  • Missouri family threatened with jail over purple swingset wins court ruling, website says

    09/01/2015 1:54:48 PM PDT · by BBell · 49 replies | The Times-Picayune ^ | 9/1/15 | Andrea Shaw, | The Times-Picayune
    A judge has sided with a Missouri couple whose purple backyard playset prompted threats of fines – and even jail -- from the homeowners association, according to Consumer Affairs. Marla Stout said the Raintree Lake Neighborhood Homeowners Association told the family they failed to get the color approved and that the purple hue did not conform in the neighborhood, the website reported.
  • Homeownership rate drops to 63.4%, lowest since 1967

    07/28/2015 8:29:55 AM PDT · by John W · 28 replies ^ | July 28, 2015 | Diana Olick
    The U.S. homeownership rate fell to 63.4 percent in the second quarter of 2015, according to the U.S. Census. That is down from 63.7 percent in the first quarter and from 64.7 percent in the same quarter of 2014. It marks the lowest homeownership rate since 1967. "It is now just five-tenths from the record low seen in 1965 in data going back also to 1965," noted Peter Boockvar, an analyst with The Lindsey Group. "All the governmental attempts (certainly aided and abetted by many players in the private sector) at boosting homeownership has gotten us to this point in...
  • California urged to return $331 million meant for homeowners siphoned for budget crisis

    07/13/2015 2:08:07 PM PDT · by SeekAndFind · 13 replies
    SF Gate ^ | 07/13/2015 | Judy Lin
    SACRAMENTO, Calif. (AP) — Several California lawmakers and community assistance groups are calling on Gov. Jerry Brown to repay more than $331 million in funds intended to help homeowners struggling with foreclosures that the state siphoned off to help deal with its budget crisis. A Sacramento County judge found that the governor and state Legislature unlawfully diverted most of a fund that was part of a $25 billion settlement between five major banks and nearly every state in 2012. Brown's attorneys argued the state had the discretion to use that money in the state budget. But the judge sided with...
  • Millions of 'underwater' homeowners are trapped

    03/17/2015 9:38:51 PM PDT · by george76 · 104 replies
    CNBC ^ | 3- 17 -2015 | Diana Olick
    Some 5.4 million homes, or 10.4 percent of all homes with a mortgage, were still in a negative equity position, or "underwater," in the fourth quarter of 2014, according to CoreLogic, as their owners owe more on the mortgage than the home is currently worth. This is down considerably —18.9 percent, from a year ago—but it still keeps these borrowers from putting their homes on the market, because they would lose money. .. Additionally, of the 49.9 million U.S. homes with a mortgage, approximately 10 million (20 percent) have less than 20 percent equity, and 1.4 million have less than...
  • How Many Homeowners Have Paid Off Their Mortgages?

    12/11/2014 7:21:10 PM PST · by SeekAndFind · 63 replies
    Five Thirty Eight ^ | 12/11/2014 | Mona Chalabi
    Dear Mona,It seems like homeownership is a common data filter in the social sciences. But nearly everyone I know who “owns a home” is paying a mortgage. How many “homeowners” have actually paid off their houses?John, 34, Mount Vernon, Washington Dear John,Your question is an important one, not only because home ownership can have big consequences for the economy, but because 56 percent of all the housing units in America (that includes trailers, apartments and houses) are owned by the people who live in them.According to last year’s American Community Survey, one in three of those owner-occupied housing units doesn’t...
  • Flag flap: Indiana veteran, wife battle homeowners association over Old Glory

    10/28/2014 2:09:59 PM PDT · by KeyLargo · 7 replies
    my Fox Chicago ^ | Oct 28, 2014
    Flag flap: Indiana veteran, wife battle homeowners association over Old Glory Posted: Oct 28, 2014 3:16 PM CST Updated: Oct 28, 2014 3:17 PM CST Bob Willits, 82, of Greenfield, Ind., insists he'll fight a local homeowners Association over the American and POW/MIA flags outside his home. FOX News - An elderly veteran and his wife say there's “absolutely no way” the flagpole outside their Indiana home is coming down, despite threats from a homeowners association — and a local prosecutor intends to back them in court if necessary. Bob and Judy Willits insist they intend to fight multiple letters...
  • In the Future We’ll All Be Renters: America’s Disappearing Middle Class

    08/10/2014 8:03:28 PM PDT · by SeekAndFind · 35 replies
    Daily Beast ^ | 08/10/2014 | Joel Kotkin
    America’s wealth is concentrating in fewer hands, and while the rich are getting super rich, the once vital middle class is nearing extinction. [SNIP] But today, after decades of expanding property ownership, the middle orders—what might be seen as the inheritors of Jefferson’s yeoman class—now appear in a secular retreat. Homeownership, which peaked in 2002 at nearly 70 percent, has dropped, according to the U.S. Census, to 65 percent in 2013, the lowest in almost two decade. Although some of this may be seen as a correction for the abuses of the housing bubble, rising costs, stagnant incomes and a...
  • Oklahoma will charge homeowners who generate their own power

    04/21/2014 8:02:43 AM PDT · by rktman · 74 replies ^ | 4/20/2014 | Jazz Shaw
    A disturbing story out of the Sooner State this week, noted by Doug Mataconis at Outside the Beltway. Under the terms of a recently passed bill, expected to be signed by Governor Mary Fallin, homeowners who install their own private solar or wind turbine energy resources and sell some of the juice back to energy companies will be paying a fee for the privilege.
  • Richmond [CA] weighs using eminent domain to help struggling homeowners

    10/15/2013 12:47:21 AM PDT · by Cincinatus' Wife · 9 replies
    Sacramento Bee ^ | October 15, 2013 | Hudson Sangree
    RICHMOND -- A San Francisco-based group of financiers called Mortgage Resolution Partners has been calling on Sacramento and other California cities for more than a year, pitching a plan to use government powers of eminent domain to seize underwater mortgages and refinance them for the benefit of homeowners who owe more than their homes are worth. Most communities took a pass, saying the novel plan was too risky. Not Richmond, a largely working-class city in the Bay Area. There, a determined and articulate Green Party mayor has helped steer the plan through the City Council in recent months. Today, the...
  • There's A Simple, Unbiased Way To Figure Out Whether To Rent Or Buy

    08/10/2013 10:34:12 AM PDT · by SeekAndFind · 15 replies
    Business Insider ^ | 08/10/2013 | LEONARD BARON, ZILLOW
    If you are a renter and pondering whether it’s time buy a home, one thing that might be on your mind is a rent vs. own analysis. As you can imagine, this analysis will help you determine the financial benefits of owning a home vs. staying a renter. Many online rent vs. own analysis tools are available, but a little caution is needed, as some of these tools are very biased and skewed. Some always find that it typically makes sense to buy, while others show that you should rarely buy. Most of them look at the difference between the...
  • Homeowners Insurance Tops Inflation by 691%

    06/21/2013 7:56:08 PM PDT · by NaturalBornConservative · 27 replies
    Natural Born Conservative ^ | June 21, 2013 | Larry Walker Jr
    Caveat Emptor- By: Larry Walker, II -Have you checked your homeowner’s insurance policy lately?I’ve been with the same insurer for over 10 years through two residences. Even with the previous company my homeowner’s rates stayed about the same from 1998 through 2007. During a recent review, I discovered that my basic coverage amounts (i.e. dwelling, private structures, personal property and loss of use) have been inflated by around 3.0% annually since 2007, or slightly higher than the general inflation rate, and although I sort of get that, albeit the cost to rebuild is now around 150 times current fair market...
  • Oh, Yeah, the Economy

    06/20/2013 5:19:07 AM PDT · by Kaslin · 5 replies ^ | June 20, 2013 | Larry Elder
    The recent Obama administration scandals shift the spotlight from the economy. Yet the recovery remains depressingly sluggish, with the labor force participation rate at a 34-year low as millions of able-bodied, able-minded Americans simply stopped looking for work. With President Obama in the fifth year of his presidency, let us examine the effect of the stimulus program, tax hikes, Obamacare and additional regulation on the economy. It isn't pretty. For the richest Americans, their net worth has fully recovered. For the non-rich, the recovery tells a very different story. At the start of "recovery" in 2009, the mean net worth...
  • Obama calls on Congress to help more homeowners

    05/11/2013 10:41:45 AM PDT · by Olog-hai · 22 replies
    Associated Press ^ | May 11, 2013 9:36 AM EDT | Darlene Superville
    President Barack Obama says Congress must give more homeowners the chance to refinance their mortgages to save money. Obama says more than 2 million people are saving about $3,000 a year after restructuring their loans under his administration but that more deserve the same chance. …
  • U.S. home prices keep rising, but homeownership is down

    04/30/2013 7:31:38 PM PDT · by SeekAndFind · 22 replies
    Los Angeles Times ^ | 04/30/2013 | Alejandro Lazo
    Home prices are rising at levels not seen since the real estate boom, but American homeownership remains on the decline. The two trends underscore the nature of the housing rebound: Gains in pricing have been driven significantly by investors, leaving many would-be buyers behind. Prices are rising because of strong demand, a lack of supply and a sharp recovery in the hardest-hit markets. The number of foreclosed homes coming to market has also dropped dramatically. But because lending standards remain tight, the everyday home shopper is often losing out to investors able to pay cash. "What we are seeing right...
  • CNBC Exec’s Children Murdered, 1 Day After CNBC Reports $43 Trillion Bankster Lawsuit

    10/27/2012 10:47:23 AM PDT · by opentalk · 73 replies
    Intel Hub ^ | October 26, 2012 | JG Vibes
    This week financial news organization CNBC gave some mainstream attention to the largest money laundering and racketeering lawsuit in United States History, in which “Banksters” and their U.S. racketeering partners are being accused of laundering of 43 trillion dollars worth of ill gotten gains. The lawsuit is said to involve officials located in the highest offices of government and the financial sector. Since this information was surprisingly revealed by the mainstream news organization there has been a very suspicious and deadly fallout at the CNBC headquarters. Within hours the original page for the article was taken down, and CNBC senior...
  • Anybody know the best way to deal with a homeowners claim adjuster? (Hurricane stuff)

    09/03/2011 8:36:34 AM PDT · by no gnu taxes · 56 replies
    Ok, I guess the best adage is to be nice until that doesn't work. But my agent keeps telling me, "don't worry, they'll pay." My policy language is very vague and open to a lot of interpretation. Without going into detail, I'm not getting the impression the adjuster will be that accomodating. You know, I'm 51 years old and have never had to file a homeowner's claim before I sort of feel like the difference between my agent and and the adjuster is like the difference between a military recruiter and the drill sergeant. Am I wrong?
  • Emergency Homeowner's Loan Program (EHLP)

    07/25/2011 9:29:33 AM PDT · by existentialist · 12 replies
    HUD ^ | 7/20/11 | HUD
    EHLP Overview The Dodd-Frank Wall Street Reform and Consumer Protection Act provided $1 billion to HUD to implement the Emergency Homeowners' Loan Program (EHLP). The EHLP is designed to provide mortgage payment relief to eligible homeowners experiencing a drop in income of at least 15% directly resulting from involuntary unemployment or underemployment due to adverse economic conditions and/or a medical emergency. Other EHLP eligibility requirements include: * Income Limit: Applicant has a total household income equal to, or less than, the greater of either $75,000 or 120 percent of the Area Median Income (AMI) for a household size of four...
  • $1 Billion in Homeowner Aid Offered

    06/20/2011 4:21:31 PM PDT · by Graneros · 46 replies ^ | 6/20/2011 3:52 PM | Peter King
    Homeowners facing foreclosure can now tap into a $1 billion program of emergency loans to help tide them over a temporary financial crisis, the Department of Housing and Urban Development (HUD) has announced. Beginning today, homeowners in 27 states can file preliminary applications for the Emergency Homeowner's Loan Program (EHLP). Eligible homeowners can obtain interest-free loans of up to $50,000 to help cover mortgage expenses for up to two years. The program is available to homeowners who have seen their incomes fall and who could lose their homes to foreclosure due to circumstances beyond their control, including involuntary unemployment, underemployment,...
  • Funnel cloud rips Westmoreland County (Tornado damage in SW Pennsylvania)

    03/24/2011 8:13:59 AM PDT · by Vigilanteman · 6 replies
    Tribune Review (Pittsburgh area) ^ | 24 March 2011 (9:57 a.m.) | Trib Staff
    Robin Aaron thought it was the end. A ferocious storm ripped through Westmoreland County on Wednesday afternoon, leveling some houses and peeling roofs off others, tearing tops off trees and gouging the auditorium and athletic field at Hempfield Area Senior High School. As chunks of hail rained down, a churning funnel cloud screamed through Sewickley Township, leveling six homes on General Braddock Road. "I was outside taking my dogs in. I looked at the sky. It was getting real bad," Aaron said. "I grabbed my daughter and called to my son. ... We were all curled into a ball (in...
  • Attorneys ask courts to toss out foreclosure cases Motions focus on robo-signers

    11/03/2010 10:31:40 AM PDT · by Razzz42 · 16 replies
    The Baltimore Sun ^ | November 01, 2010 | Jamie Smith Hopkins
    ...Homeowners who believe their cases were improperly filed should seek help from a nonprofit housing counseling agency, Robinson said. Those agencies — which can be found at — refer cases in need of legal assistance to Civil Justice and other attorneys with foreclosure expertise. Pending cases with paperwork problems can be dismissed and refiled properly, Robinson said. He added that the really troubling question is what can be done about the homes — potentially thousands in Maryland — that have already been auctioned off in cases involving robo-signed or improperly signed documents. Ten former homeowners called his office in...
  • US Stocks Retreat; Foreclosure Concerns Drag Down Financials - GET READY FOR TARP 2!!!

    10/14/2010 2:00:56 PM PDT · by Fred · 10 replies
    WSJ ^ | 101410 | Kristina Peterson and Steven Russolillo
    NEW YORK (Dow Jones)--U.S. stocks closed modestly lower Thursday as investors retreated from financials because of concerns over banks' foreclosure practices. The Dow Jones Industrial Average fell 1.51 points, or 0.01%, to 11094.6, snapping a four-session winning streak in a day of choppy trading. Financials led the Dow's declines. Bank of America dropped 69 cents, or 5.2%, to 12.60 and J.P. Morgan Chase fell $1.12, or 2.8%, to $38.72. Both are among the wave of banks reviewing their foreclosures after temporarily suspending evictions due to concerns over "robo signers," who approve hundreds of foreclosure documents a day. Among other banks...
  • Foreclosure Fraud: How You Can Be Driven to Default Even if You Pay On Time

    10/13/2010 1:17:11 PM PDT · by Fred · 43 replies
    CBS MoneyWatch ^ | 101310 | Jane Bryant Quinn
    The new, 49-state investigation into foreclosure frauds comes as no surprise to people who follow the mortgage service business. Shoddy, deceptive paperwork has plagued homewowners for years. In the industry’s slimy underside, firms push borrowers into default and foreclosure, even when they’ve been making payments on time. Their business model makes defaults profitable, says Marie McConnell who has been auditing mortgages for 24 years. The ugly chain of deception starts with the way the servicers handle your escrow account. A mortgage service company collects your monthly payments, deducts a fee, and passes the remainder to the investors who own the...
  • More HAMP homeowners falling behind ('HAMP' HaPPens!! ThX Fannie Mae!!)

    08/06/2010 2:52:09 PM PDT · by NormsRevenge · 9 replies
    Reuters on Yahoo ^ | 8/6/10 | Corbett B. Daly
    WASHINGTON (Reuters) – The Treasury Department on Friday acknowledged that the number of homeowners in trouble again despite getting help from the administration's signature mortgage aid program was higher than earlier estimates. Treasury officials blamed the error on mortgage finance giant Fannie Mae, which acts as the program administrator for President Barack Obama's $50 billion Home Affordable Modification Program (HAMP), which helps subsidize new terms for borrowers struggling to keep up with their mortgage payments. Treasury said about 4,764 borrowers, who had obtained a permanent HAMP modification, were behind by at least 90 days, while about 53,041 borrowers were behind...
  • Treasury Denies Talk Of Massive Homeowner Bailout

    08/05/2010 1:18:03 PM PDT · by blam · 15 replies
    The Business Insider ^ | 8-5-2010 | Joe Weisenthal
    Treasury Denies Talk Of Massive Homeowner Bailout Joe Weisenthal Aug. 5, 2010, 12:50 PM Image: AP Alright, well for now The Treasury (via CNBC) is denying this morning's talk that Fannie and Freddie are planning to engage in a massive mortgage forgiveness scheme as a way of bailing out the homeowner. That's fine, though we're still not convinced that the Treasury isn't trying to figure out ways right now to further use the GSEs to goose the housing market. Remember, they were given a total blank check last year, add it's clearly the desire of the Treasury and the Fed...
  • Officials kill grizzly bears to head-off lawsuits before they arise

    08/01/2010 8:58:12 AM PDT · by george76 · 106 replies · 21+ views
    Bear Attack Examiner ^ | July 31, 2010 | Dave Smith
    Wildlife officials have killed a grizzly bear in Wyoming and a grizzly bear in Montana to head-off potential lawsuits. The Montana grizzly killed and partially consumed Kevin Kammer at a Gallatin National Forest campground near Cooke City, Mont. on July 29. The Wyoming grizzly killed 70 year-old botanist Erwin Evert on June 17 on the Shoshone National Forest near the East Entrance of Yellowstone National Park. The circumstances were quite different, but the decision to kill the bears was undoubtedly influenced by a 1996 court case over the terrible bear mauling of 16 year-old Anna Knochel at a U.S. Forest...
  • Home damaged by hail - need advice

    07/27/2010 8:30:58 PM PDT · by mplsconservative · 38 replies · 3+ views
    mplsconservative ^ | 7/27/10 | mplsconservative
    siding back on the. When the crew was here, they noticed a lower ding on the siding and asked me if I wanted to have it caulked. I said yes (husband wasn't home) and it was no big deal as it's hidden behind the AC unit and behind a shrub. No one ever sees that area. Well, the insurance adjuster did. To boil it down, he said they would only pay to reside the front and back of the house as the caulk job showed we will accept some damage. The problem is our siding is likely discontinued. It will...
  • Mortgage Plan Tries to Mitigate an Unemployment Problem That the Administration Just Worsened

    03/27/2010 3:41:06 AM PDT · by Scanian · 30 replies · 891+ views
    NRO ^ | March 26, 2010 | Jim Geraghty
    An early point about the Obama administration's new plan to help homeowners by forcing banks and lenders to reduce monthly mortgage payments to 31 percent of income, usually unemployment insurance: The new push, which the White House is scheduled to announce Friday, takes direct aim at the major cause of the current wave of foreclosures: the spike in unemployment. As noted in several places, the new health-care bill has already made the cost of employees more expensive and taken away capital that could otherwise have been used to hire workers. Farm-equipment manufacturer John Deere "said it expects its expenses to...
  • Report: 1 in 5 U.S. homeowners underwater

    02/10/2010 8:40:56 PM PST · by Nachum · 26 replies · 646+ views
    ms DNC ^ | 2/10/2010 | Reuters
    NEW YORK - One of every five U.S. homeowners owed more on their mortgage than their home was worth in the fourth quarter, a trend that poses a serious threat to the U.S. housing market's recovery, real estate Web site said on Wednesday. Homeowners with "underwater'' mortgages are more prone to defaults and foreclosures. They typically do not qualify for refinancings and are unable to sell their homes because they would need to cough up cash at closing time to pay off their mortgage.

    12/27/2009 6:55:28 AM PST · by Beloved Levinite · 18 replies · 952+ views
    The Web of Debt ^ | September 19th, 2009 | Ellen Brown, JD
    A landmark ruling in a recent Kansas Supreme Court case may have given millions of distressed homeowners the legal wedge they need to avoid foreclosure. In Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, the Kansas Supreme Court held that a nominee company called MERS has no right or standing to bring an action for foreclosure. MERS is an acronym for Mortgage Electronic Registration Systems, a private company that registers mortgages electronically and tracks changes in ownership. The significance of the holding is that if MERS has no standing to foreclose, then nobody has standing to foreclose on 60...
  • Break chains of mortgage morality, lawyer says

    11/29/2009 10:02:56 AM PST · by thecodont · 104 replies · 2,477+ views
    San Francisco Chronicle / ^ | Sunday, November 29, 2009 | Kenneth Harney
    (11-29) 04:00 PST WASHINGTON -- Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth. And most important: Don't feel guilty about it. Don't think you're doing something morally wrong. That's the incendiary core message of a new academic paper by Brent T. White, a University of Arizona law school professor, titled "Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis." White argues that far more of the estimated 15 million American homeowners who are underwater on their mortgages should stiff their lenders and take...
  • Skelton pleased by new law helping PCSing military homeowners, unemployed

    11/28/2009 1:23:41 PM PST · by darrellmaurina · 1 replies · 278+ views
    Pulaski County Daily News ^ | 11/5/2009 | U.S. Rep. Ike Skelton, House Armed Services Committee Chairman
    WASHINGTON, D.C. (Nov. 5, 2009) — Today, Congressman Ike Skelton (D-Mo.) announced that Congress has approved H.R. 3548, the Worker, Homeownership and Business Assistance Act. The bipartisan legislation would extend unemployment benefits for 14 weeks and for six weeks in states with unemployment rates above 8.5 percent. Missouri’s unemployment rate was 9.5 percent in September 2009. It would also allow military personnel to fully participate in the first-time homebuyer tax credit program and will make payments tax-exempt under the Military Homeowner Assistance Program, which helps military families recoup costs associated with selling a home that has declined in value and...
  • For All Homeowners

    11/13/2009 1:21:37 PM PST · by beejaa · 44 replies · 1,435+ views
    E-Mail ^ | 10/21/09 | E-Mail
    ALL HOMEOWNERS BETTER READ THIS Cap & Trade legislation: This bill is only 1428 pages long. The House passed it without reading and it is in the Senate now awaiting to read it after they come back from their August recess "fact finding trips". Here is the link for the bill Home owners take note & tell your friends and relatives who are home owners!!! Beginning 1 year after enactment of the Act, you won't be able to sell your home unless you retrofit it to complywith the energy and water efficiency standards of this Act. H.R. 2454, the...
  • Watchdog doubts goals of Obama loan relief plan

    10/09/2009 9:29:04 AM PDT · by NormsRevenge · 163+ views
    AP on Yahoo ^ | 10/9/09 | Jim Kuhnhenn and Alan Zibel - ap
    WASHINGTON – The Obama administration's effort to help homeowners avoid foreclosure may not achieve its goal of helping 3 million to 4 million borrowers and may simply delay mortgage defaults for many, a government watchdog group says. The Congressional Oversight Panel, charged with making regular assessments of the $700 billion financial rescue fund enacted last year, said the Treasury Department should consider whether to improve the current $50 billion program or adopt new programs to meet an expected rise in foreclosures fed by increased unemployment. The panel's report is scheduled to be made public Friday. It comes a day after...
  • Strategic Defaults and Morality - Does Anyone Care?

    10/04/2009 10:37:29 AM PDT · by TheDailyChange · 17 replies · 487+ views
    LA TIMES ^ | 10042009 | Kenneth R. Harney
    >>>People who default strategically and lose their houses appear to understand the consequences of what they're doing. Piyush Tantia, an Oliver Wyman partner and a principal researcher on the study, said strategic defaulters "are clearly sophisticated," based on the patterns of selective payments observable in their credit files. For example, they tend not to default on home equity lines of credit until after they bail out on their main mortgages, sometimes to draw down more cash on the equity line. >>>Strategic defaulters often go straight from perfect payment histories to no mortgage payments at all. This is in stark contrast...
  • Economy is Having an Impact on Renters[Homeowners Turning Into Renters, Thanks Democrats!]

    09/12/2009 7:12:18 AM PDT · by Son House · 51 replies · 2,306+ views ^ | 09/11/2009 |
    As you may have guessed, rising unemployment accounts for many home foreclosures. That's turning many people from homeowners to renters. Judy Heller and her husband spent 24 years in their Rochester home, raising their kids. But they're moving out soon. "It's too expensive, we can't afford to stay here and my husband had looked for a job around Rochester but most of them are minimum wage, and you can't survive on minimum wage now," Says Heller. They're moving to an apartment in the Twin Cities, where her husband's found a job. Down sizing means living in a smaller place, and...
  • Couple's home to be auctioned despite loan modification

    08/05/2009 8:40:10 AM PDT · by hsmomx3 · 9 replies · 648+ views
    Channel 3 ^ | 08-04-2009 | By LiAna Arenas / 3 On Your Side Producer
    PHOENIX -- A Valley couple say their home was put on the auction block even though they successfully modified their loan. So, they contacted 3 On Your Side for help. I would say eight out of 10 times my reports are based on miscommunication and that seems to be the case here. Rachel and Jaime Torres thought they were making their new modified payment. But, as it turns out, they forgot to include money for their escrow account, meaning their new "modified" payment wasn't enough. "I said, 'Oh no! Oh no, my God,' and I broke down in tears,"...
  • Is it time for underwater homeowners to be given a get-out-of-debt-free card?

    06/28/2009 3:25:45 AM PDT · by Zakeet · 47 replies · 2,646+ views
    Los Angeles Times ^ | June 27, 2009 | Tom Petruno
    Some housing experts believe there is no alternative but outright forgiveness of a substantial chunk of mortgage debt for many people who are at risk of foreclosure.Government and private-lender attempts to stem the home foreclosure crisis so far have mostly focused on loan modifications or refinancing -- giving borrowers a temporary or permanent reduction in their monthly payments. But some housing experts say the next wave of help will have to address the core problem for many homeowners: negative equity. This camp believes that there is no alternative but outright forgiveness of a substantial chunk of mortgage debt for many...
  • Berkeley eliminates homeowner climate mandates

    05/06/2009 7:50:45 AM PDT · by SmithL · 28 replies · 1,316+ views
    San Francisco Chronicle ^ | 5/6/9 | Carolyn Jones
    Berkeley's City Council voted unanimously Tuesday night to eliminate homeowner mandates from its climate action plan, in part because of an uproar from infuriated residents. The plan required owners to upgrade their homes' energy efficiency, based on an independent audit of a home's windows, roof, appliances and insulation. The goal was for all of Berkeley's 23,000 homes and 25,000 duplexes and apartment units to reduce energy use by 35 percent by 2020. Many homeowners vehemently protested the mandates, saying the cost to upgrade a typical drafty prewar Berkeley home would be astronomical. Hills residents particularly fought the portion requiring white...
  • Text of Obama's news conference

    03/24/2009 7:31:52 PM PDT · by Delacon · 29 replies · 3,063+ views
    OBAMA: Good evening. Now, before I take questions from the correspondents, I want to give everyone who's watching tonight an update on the steps we're taking to move this economy from recession to recovery, and ultimately to prosperity. Now, it's important to remember that this crisis didn't happen overnight and it didn't result from any one action or decision. It took many years and many failures to lead us here. And it will take many months and many different solutions to lead us out. There are no quick fixes, and there are no silver bullets.
  • Economy taking toll on push for Metro Parks levy

    03/22/2009 7:04:57 AM PDT · by JavaJumpy · 2 replies · 228+ views
    Columbus Dispatch ^ | March 19, 2009 | Mark Ferenchik
    In these hard times, the campaign for the Metro Parks levy is facing a financial crunch. The campaign's original goal was to raise $400,000. So far, contributors have given $130,000. Metro Parks said American Electric Power, Grange Insurance and the law firm of Squire Sanders & Dempsey are among the businesses endorsing the levy. To save cash, the campaign doesn't plan any TV ads. It does plan to use its network of supporters to blast e-mails and has discussed using social-networking sites such as Facebook to get the message out, Executive Director John O'Meara said.
  • HOA moves to foreclose on 84 homes

    03/16/2009 8:24:56 AM PDT · by Responsibility2nd · 210 replies · 3,914+ views
    San Antonio Express-News ^ | 03/14/2009 | By Aďssatou Sidimé -
    In a rare move, a South Side homeowners association has filed to foreclose on 84 homes in the Mission Creek community because of unpaid association dues. That’s 21 percent of the roughly 400 homes in the community, based on data from The 84 are set to go on the auction block April 7 at the Bexar County Courthouse — an event that would devastate the neighborhood’s property values, experts say. Judith Gray, an attorney hired as the auction trustee, said the association is foreclosing because many homeowners have not paid dues for several years, and the multiyear loss of...
  • Senate Dems squabble over which homeowners to help

    03/13/2009 1:54:51 PM PDT · by NormsRevenge · 10 replies · 509+ views
    AP on Yahoo ^ | 3/13/09 | Julie Hirschfeld Davis - ap
    WASHINGTON – Disagreement among Senate Democrats over how many struggling homeowners should qualify for court-ordered mortgage relief has stalled a key part of President Barack Obama's foreclosure prevention plan on Capitol Hill. Behind the scenes, top Democrats are offering banks and credit unions sweeteners to drop their opposition to the plan, hoping that even tepid support from lenders might win a few vital votes from skeptical Democrats and Republicans. The bill would give judges new power to lower the interest rate and principal on a primary home loan as part of a bankruptcy settlement. The measure passed the House last...
  • Homeowners Open Fire With AK-47 On Thieves

    02/27/2009 9:07:13 AM PST · by Nachum · 49 replies · 2,437+ views
    WSBTV ^ | 2/27/09 | staff
    ATLANTA -- A well-armed couple opened fire with an assault rifle and pistol early Friday morning on some car thieves in southwest Atlanta. The couple at a home in the 1900 block of Childress Drive told police that after somebody tried to steal their car last week, they rigged up a homemade alarm in their carport using string and cans.

    02/20/2009 7:42:27 AM PST · by FromLori · 21 replies · 1,257+ views
    Lonsberry ^ | 2/20/09 | Bob Lonsberry
    I probably should have just listened to Paul Harvey. Though it wasn’t actually Paul Harvey. It was Ron Chapman. And that’s probably the problem. I understand Ron Chapman is a radio legend somewhere, but I don’t live there. So, to me, he’s just an insufferable bore. But I should have been listening anyway. Instead I got an idea. An idea that had been kind of simmering in my head for a week or so. I was trying to think of a way to show that I wasn’t happy. That I was tired of bailouts. That I didn’t want to pay...
  • Chinese Drywall MAy Be Toxic

    01/19/2009 7:01:31 AM PST · by LadyBuzz · 40 replies · 3,646+ views
    Wall Street Journal ^ | 01/12/2009 | MICHAEL CORKERY
    Some home builders already struggling in Florida's dismal housing market are facing another headache: The Chinese-made drywall they used is causing unpleasant odors and possibly leading to electric problems in dozens of homes constructed during the housing boom.
  • Chinese property hunters to raid US

    12/05/2008 4:59:44 PM PST · by thetru · 69 replies · 2,955+ views ^ | December 5 2008 | Geoff Dyer
    Chinese property hunters to raid US By Geoff Dyer in Beijing Published: December 5 2008 20:10 | Last updated: December 5 2008 20:10 Chinese bargain hunters are preparing to descend on American cities such as Los Angeles and San Francisco, where homeowners have suffered some of the steepest price falls in the US. SouFun, the biggest real estate website in China, is organising a trip next month to look at properties in California and possibly Nevada. Liu Jian, the company’s chief operating officer, said about 300 people had expressed interest in the idea in the three days since it was...