February 2011

(Source: The News & Advance / By Bryan Gentry) – For every day in 2010, at least one person in Central Virginia lost a home to foreclosure.

(Source: The Charlotte Observer / by Kirsten Valle Pittman) – The new tax values distributed to Mecklenburg County homeowners last week confirmed, for many, what they long feared: Their houses are worth less than what they owe on their mortgages.

(Source: The Orlando Sentinel/by Mary Shanklin) – The number of foreclosed homes on, or about to hit, Metro Orlando’s resale market has more than doubled in the past year, forcing down the prices of other houses that have already lost [...]

(Source By Merced Sun-Star, Calif.) –WASHINGTON — Rep. Dennis Cardoza (D-Merced) sharply criticized an Obama Administration proposal announced this morning to gradually wind down government-sponsored housing agencies, Fannie Mae and Freddie Mac. During his opening remarks to a meeting of [...]

(Source: United Press International) – The Obama administration will propose Friday phasing out U.S. housing-finance giants Fannie Mae and Freddie Mac 2 1/2 years after rescuing them, officials said.

(Source: Star Tribune, Minneapolis / by Jim Buchta) – Officially, the recession is over. Manufacturers are building again, consumers are occasionally spending and the stock markets are reaching highs not seen in more than two years.

WASHINGTON, D.C. (Source: Merced Sun-Star) – Rep. Dennis Cardoza (D-Merced) said he will build support for his legislation to stop the onslaught of foreclosures during his opening remarks at a meeting of leading economists and policymakers in Washington, D.C. Friday.

(Source: The Sacramento Bee by Dale Kasler) – As state officials announced the formal launch of a $2 billion foreclosure-prevention program Thursday, a market survey showed the foreclosure crisis maintains a tight grip on Sacramento.

WASHINGTON (Source: Associated Press/AP Online  by Daniel Wagner and Derek Kravitz) – The Obama administration is laying out three broad options for overhauling the mortgage lending system, but will let Congress make the final decision.

WASHINGTON (Source: Associated Press/AP Online by Daniel Wagner and Derek Kravitz) – The Obama administration laid out three broad options Friday for reducing the government’s role in the mortgage market. All three would almost certainly lead to higher interest rates [...]

(Source: USA TODAY) -Federal laws and regulations have a real impact on people, jobs and the economy. House oversight hearings, chaired by Rep. Darrell Issa, R-Calif., will no doubt review the regulatory impact in areas ranging from health care to [...]

(Source: Associated Press/AP Online By ALAN FRAM) – WASHINGTON – Federal taxpayers should stop propping up Fannie Mae and Freddie Mac, and Congress will wean the country away from its reliance on the two huge but fiscally feeble housing finance [...]