White House could Unveil Mortgage Plan Next Week IBTimes Hong Kong
Officials had long been wary of trying aggressive new programs to revive the housing market. The prevailing view at the White House over much of the last two years was that any remedies would cause at least as many problems as they solved.A mainstay of the administration's housing initiative, rolled out in April 2009, has fallen short of expectations. Known as the Home Affordable Refinance Program, it was originally intended to help 4 million to 5 million homeowners avoid foreclosure. As of May it had helped only about 810,000 homeowners refinance into loans with lower rates, according to the Federal Housing Finance Agency.
But Democrats close to the White House said the weakness in the economy and the drop in mortgage rates have led officials to take a second look at ideas that could bolster the housing market and ease the strain on household budgets.
Analysts who favor action say housing is at the heart of the economy's woes and that its moribund state is creating a risk of a Japanese-style "lost decade" of economic stagnation.
Fixer in great Burbank neighborhood
I've just listed this fixer with stellar upside potential in Burbank's nicest hillside neighborhood. The house is right across from award-winning Jefferson Elementary, too! 3 bedrooms, 2 baths, 1712 square feet on an 8989 sf lot, fireplace, bonus room, and big yard are just some of the features. However, this is a true fixer, not a DIY project, so bring your contractors. It's also subject to probate court rules but doesn't need court confirmation. Square feet can be added; either build your dream house or expand this property for future sale.
Refinance Help. Fill this form and get help!
Hard Money Lenders in Burbank California
www.lendinguniverse.com finds a list of hard money lenders In Burbank California. http Private real estate investors database, compare hundreds ...