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SAINT JOHN, New Brunswick, January 05, 2009 ? The construction of 21 new affordable housing units in Saint John was officially announced today by the Province of New Brunswick and the Government of Canada. The new units, funded under Phase III of the Canada ? New Brunswick Affordable Housing Agreement, will house disabled persons, non-elderly singles and ?
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New Affordable Housing Announced in Saint John
The 30-year mortgage rate dropped for the seventh consecutive week, hitting its lowest level since 1971. This has hit mortgage brokers and lenders with a surge of homeowners and refinance applications looking for a Christmas bonus.
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[News] 30-Year Mortgage Rate Hits 37 Year Low, Borrowers Rush to Refinance
A favorite target of criminals used to be subprime borrowers. As the market for subprime loans collapsed, mortgage fraud crooks set their sights on another type of home loan. They’re now focused on the home equity line of credit (HELOC), and homeowners need to be especially vigilant.
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[News] Home Equity Lines of Credit Targeted by Criminals
Long gone are the days of the “bubble” in the real estate market. We’re now beginning to see signs that we’ve reached the bottom, as falling real estate sales have created more affordable housing. Prices are more in line with median incomes around the country, providing a strong signal that the end of the slump may be in sight.
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[News] Homeownership Getting More Affordable
Funny how ideas can come full circle. It seems some private equity and investors think US Treasury Secretary Paulson’s first plan was a pretty good one–buy troubled mortgage assets of bank balance sheets. In fact, a few have offered to take that opportunity with the government’s help.
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[News] Private Equity and Investors Resurrect Idea to Buy Troubled Mortgage Loans
Housing prices continue to plummet largely because new home buyers are unwilling to buy these bargains. Faced with fears of continued housing depreciation, mounting job losses, and declining economic conditions–they are staying on the sidelines and saving their cash. However, the US Treasury thinks pushing mortgage rates down to 4.5 percent is the answer.
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[News] Pushing Down Mortgage Loan Rates Unlikely to Bring New Home Buyers
Increasingly loan modifications are becoming the preferred mechanism to help defaulting homeowners and troubled bank mortgage asset portfolios. All of the major banks, Bank of America, JP Morgan Chase, and Citigroup have announced streamlined loan modification programs.
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[News] Law Firms and Banks Collaborating to Streamline Loan Modifications
OTTAWA, Ontario, November 21, 2008 ? The Government of Canada, the Government of Ontario and the City of Ottawa, recognized National Housing Day today by announcing support for nine affordable housing projects in Ottawa which will create more than 352 new affordable rental units with over $19.5
One of the earliest ideas for helping homeowners facing mounting mortgage debt and potential foreclosure on their home was to reform bankruptcy laws. The concept is now officially back on the table, introduced into the Congressional lame-duck session by Senator Richard Durbin (D-IL).
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[News] Bankruptcy Reform Back on the Table
Almost a year into the dawning of the housing crisis (many chronologist are setting that around the January 2008 crumbling of Countrywide) ideas continue to flow, but few seem to be the answer. In fact, this seems to be the growing consensus–there is no silver bullet.
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[News] Fixing the Housing Market, Lots of Ideas…Any Answers?