Putting The U.S. Credit Downgrade Into Perspective



In the wake of the decision by Standard and Poor’s to downgrade the United States credit rating, the reaction worldwide has been somewhat muted. Of course, if nothing else, this is a gigantic embarrassment to the U.S. government, especially the congress and the Obama administration. It was on their watch that the first ever downgrade […]

Latinos Express Growing Concerns Over Housing Crisis



ImpreMedia released the results of its new survey indicating that Latinos in the United States have serious concerns about the housing market, largely due to the ongoing foreclosure crisis.  Although 72 percent believe they have reached or can reach their “American Dream”, only 47 percent include owning a home as part of that dream.    Furthermore, […]

Settlement May Force Banks to Allow Short Sales



A settlement of a case involving absurdly poor paperwork by banks may force the banks to allow severely delinquent homeowners to find relief through short sales.  In a short sale, the homeowner is allowed to sell the home for less than the amount owned on the loan.  Normally, a short sale requires the permission of […]

Rep. Maxine Waters in Fight to Save Housing Programs



“Whose side are you on?” is a question Congresswoman Maxine Waters (D-Calif.) is asking a Republican-lead U.S. Congress that today voted to end the Neighborhood Stabilization Program (NSP), a government-sponsored initiative that would purchase and redevelop foreclosed and abandoned homes. The homeowners, Congresswoman Waters argues, are not suddenly all better, no longer needing government programs […]

Government Failing Multicultural Homebuyers, Says Coalition



The Asian Real Estate Association of America (AREAA), the National Association of Hispanic Real Estate Professionals (NAHREP), and the National Association of Real Estate Brokers (NAREB) have collectively determined that the U.S. government is not doing enough to meet the needs of multicultural homebuyers. The three organizations are the largest representing multicultural real estate professionals. […]

GOP Begins Plans to Reduce Role of Fannie and Freddie



By the time the media began to reveal the extent of damage major lending institutions had done to the U.S. economy, the names Fannie Mae and Freddie Mac were about as common as Brad and Angelina.  Republican legislators in Congress are now ironing out a new plan to more gradually reduce the role of Fannie […]

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