Washington, DC — U.S. policy toward natural catastrophe risk is largely reactive and a comprehensive, forward-looking national natural disaster policy is needed, the National Association of Realtors® said in testimony to two House panels today.
Charles McMillan, immediate past president of NAR, told Congress that it must improve affordability of property insurance for natural disasters.
“NAR,...
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Real Estate And Mortgage News
- "Neighborhood Stabilization Boot Camp" to Draw Top Officials from 12 Cities and The Obama AdministrationBOSTON - Dozens of local officials from 12 of the regions hit hardest by the housing crisis are meeting at Harvard University March 14 -16 to develop new strategies for stabilizing neighborhoods that experience large numbers of foreclosures. […]
- NAR Calls for Affordable Disaster Insurance Policy(Mar. 10) Charles McMillan, immediate past president of NAR, told Congress that it must improve affordability of property insurance for natural disasters. […]
- HUD Secretary Announces Disaster Assistance for California Storm VictimsWASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to counties in California and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding, debris and mud flows during January and February. […]
- Federal Agencies Launch Website to Highlight U.S. Participation in the World Urban ForumWASHINGTON - Four federal agencies are launching a new website today to highlight the increased role the U.S. is playing in addressing 21st century urbanization, housing and sustainability issues facing the nations of the world. The White House Office of Urban Affairs, the U.S. Department of Housing and Urban Development, the U.S. Department of State, the U. […]
- Helping Homeowners: Which Solution Works Best?Featured Perspectives with EVP Don Bisenius […]
The Economy
- Manufacturing and Trade Inventories and SalesU.S. total business sales for January 2010 were $1,046.9 billion, up 0.6% from last month. Month end inventories were $1,310.2 billion, virtually unchanged from last month. January 2010: +0.6 % Change in sales December 2009: +1.0 % Change in sales […]
Proactive Disaster Homeowner’s Insurance Policy
Low Rates Help Make Home Buying More Affordable
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010, down from last week when it averaged 5.05 percent. Last year at this time, the...
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Fannie Mae Gives 3.5 Percent Seller Assistance
Incentive Part of Ongoing Effort to Stabilize Neighborhoods
WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances. The offer is available to any owner-occupant who...
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Homeowner Mortage Help
Freddie Mac is a company that helps fund mortgages. From the start to finish, we ask the same questions:
Do our credit policies and mortgage practices advance responsible lending?
The principles drive our business. They also reflect the public mission in our congressional charter. And together, they have led Freddie Mac to take on a greater...
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Real Estate Hardest-Hit Fund
WASHINGTON, DC — The Obama Administration released the next steps in the recently announced Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (“HFA Hardest-Hit Fund”).
On February 19, 2010, President Obama announced additional funding for innovative measures to help families in the states that have been hit the hardest by the aftermath...
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Avoiding Foreclosure
Contact Your Lender to Avoid Foreclosure
Many people avoid calling their lender when they have money troubles. Most of us are embarrassed to discuss our money problems with others or believe that if lenders know we are in trouble, they will rush to collection or foreclosure.
Foreclosure is expensive for lenders, mortgage insurers and investors. HUD/FHA,...
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Alert: Mortgage and Loan Modification Scams
WASHINGTON, DC – The U.S. Department of Housing and Urban Development, in partnership with the Loan Modification Scam Prevention Network, today announced the launch of PreventLoanScams.org.
“ Homeowners at risk of foreclosure can be easy prey for home loan modification scammers. Often, dishonest individuals lure vulnerable homeowners into foreclosure rescue scams by making false promises. Scammers...
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Home Sales Down
The real estate market is still suffering and the weather has not helped. According to the National Associatio of Realtors:
The Federal Reserve Board on Wednesday proposed a rule amending Regulation Z (Truth in Lending) to protect credit card users from unreasonable late payment and other penalty fees and to require credit card issuers...
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Pennsylvania Homeowners And Altieri Builders
HARRISBURG, PA — As part of an ongoing consumer protection case against Altieri Enterprises, the Attorney General’s Office is requesting detailed information from Pennsylvania homeowners about the losses they have suffered at the hands of this Maryland-based home construction company.
Attorney General Tom Corbett said formal notices have been sent to nearly 100 consumers in...
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Freddie Mac 2010 Conforming Loan Limits
McLean, VA – Freddie Mac’s (NYSE:FRE) conforming loan purchase limits for 2010 are unchanged from those in effect for 2009 for all areas of the United States, according to the Federal Housing Finance Agency (FHFA). The loan limits set the maximum original loan amounts allowed on single-family conventional mortgages Freddie Mac can purchase...
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Existing-Home Sales Down Sharply
Existing-home sales fell in January but are above year-ago levels, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – dropped 7.2 percent to a seasonally adjusted annual rate1 of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5 percent above the...
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Who Pays For Flood Insurance?
What government insurance plans are subsidized by the taxpayers and available to everyone? Probably, the only answer is flood insurance.
The Federal Emergency Management Agency (FEMA) oversees the flood insurance program. Over the past few years, FEMA has been hammered with insurance claims. In an effort to keep expenses under control, FEMA has been encouraging relocation...
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Greater Philadelphia Region
- Students to Help West Chester Businesses Save EnergyPHILADELPHIA, PA — In a ceremony today, the U.S. Environmental Protection Agency awarded a $149,992 grant to the West Chester Area School District for a project to help local businesses conserve energy, save money and cut harmful greenhouse gases. The District’s Student Conservation Corps, made up of high school students concerned about the environment, will […]
- Upcoming events at Whole Foods in Plymouth MeetingWhole Foods Market Plymouth Meeting 500 W. Germantown Pike, Plymouth Meeting, PA 19462 phone 610-832-0020 wholefoods.com/stores/plymouthmeeting Whole Planet Foundation International Sampling and Silent Auction Monday, March 22nd 5 pm – 7 pm Let’s change the world together. Help raise $1.5 million to empower poor women with the opportunity to lift themselves […]