FHA Refinance of Borrowers in Negative Equity Positions On March 26, 2010, the Department of Housing and Urban Development (HUD) and the Department of the Treasury (Treasury) announced enhancements to the existing Making Home Affordable Program (MHA) and Federal Housing Administration (FHA) refinance program that will give a greater number of responsible borrowers an opportunity [...]

Bank of America has begun writing down principal on the mortgages of some troubled borrowers in California through a state program intended to help people facing foreclosure. The bank has signed on to the principal reduction component of the Keep Your Home California program, which uses federal funds reserved for the 2008 rescue of the [...]

    A plan for Fannie Mae and Freddie Mac to subsidize investors who buy foreclosures is among foreclosure-reduction strategies that have been considered by the Obama administration, according to a former White House economist. Also last week, a bill was introduced in Congress that would permit Fannie Mae, Freddie Mac and banks to rent [...]

Chinese use your US dollars to invest in California real estate. Don’t convert dollars to Yuan. Big profits in California real estate. via ‪Chinese California Real Estate Investment‬‏ – YouTube.

Until recently, California law offered substantial protections for borrowers going through foreclosure, but left short-sellers exposed to something called “deficiency,” in which lenders could accept the sale and still chase borrowers for the debt for years. But as of last week, state law takes away the rights of lenders to the deficiency after a short [...]

Hmmm…. maybe time for a wholesale principle reduction financed by the banks themselves? Yeah!…that’s it!… they can use all the money the taxpayers gave them to keep them in business while the country fell into the biggest recession and housing crash it has ever seen. What is surprising though is the ongoing lack of serious [...]

  WASHINGTON (MarketWatch) — Pending home sales climbed 8.2% in May and were another signal of stabilization in a difficult housing market after a dismal April, the National Association of Realtors said Wednesday via Pending home sales up 8.2% in May Economic Report – MarketWatch.

    Zillow Looks at Home-Value Drops From Market Peak By Zip Code – Developments – WSJ.

    China will account for about 20 percent, or 180 billion renminbi ($27 billion1), of global luxury sales in 2015, according to new McKinsey research. via Tapping China’s luxury-goods market – McKinsey Quarterly – Marketing – Sectors & Regions.

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