Number of People Falling into Arrears Increases for First Time since 2009



More grim news for the American housing market, as a new report by the credit bureau TransUnion shows the number of people who have fallen into arrears on their mortgages during the last quarter has increased for the first time since 2009. The number of borrowers missing more than 60 days of mortgage repayments increased […]

Freddie Mac Requests $6 Billion to Offset Third Quarter Losses



Freddie Mac has asked the government to bail it out again with an additional $6 billion in aid, so that it can offset third quarter losses. The request is the largest of its kind since April 2010. Altogether, the taxpayer has had to stump up almost $169 billion to rescue Freddie Mac and Fannie Mae, […]

A Sustainable Housing Market Means Lower Prices Are Necessary



A recent survey of bank risk managers indicates that “Home prices are unlikely to recover before 2020 and mortgage defaults will persist for years…” It seems that the bad news for housing is that prices won’t go up much for years to come. But from a fundamental standpoint, this is exactly what the housing market […]

US Treasury Looks at New Plan to Help Homeowners Avoid Foreclosure



The US Treasury is exploring a new idea which could help 1 million homeowners avoid foreclosure. A central part of the plan is modifications to delinquent or defaulted mortgages, and it would include reducing the value of the principal by writing it down, bringing fresh capital into the market. This new plan could be applied […]

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