Home Prices Decline, Foreclosures Rise, But Houses Keep Coming

COLLEGE STATION, TX, – Nov. 8, 2007 – With new homes springing up across the country, it is easy to forget that the housing market has fallen on hard times. But economist Dr. Mark Dotzour says the continued construction is simply a matter of survival for home builders.

The economic outlook

November 8, 2007 -- Chairman Schumer, Vice Chairman Maloney, Representative Saxton, and other members of the Committee, thank you for inviting me here this morning to present an update on the economic situation and outlook.

Five Solutions for a Troubled Housing Market

How do you fix a troubled housing market? Forbes.com asked that question of a broad range of housing experts, including CEOs of real estate firms, real estate practitioners, economists from lending institutions, and research directors at analytics firms. Here are five of their best suggestions.

CUNA advises balance in House mortgage bill

WASHINGTON, November 7, 2007 -- The Credit Union National Association (CUNA) Tuesday said it supports legislation intended to eliminate predatory mortgage lending practices, but advised that some provisions are "more appropriately tailored" for the mortgage brokerage industry than for depository institutions.

New Report Outlines Methods for Increasing Investments in Supportive Housing

WASHINGTON - November 7, 2007 - The Supportive Housing Investment Partnership, a collaboration between Enterprise Community Partners and the Corporation for Supportive Housing, recently released a comprehensive update on how states are using innovative policies to produce permanent affordable housing with support services to address homelessness.

Consumer Alert — Mortgage Foreclosure Scams

Are you having trouble making your home mortgage payments? Are you facing foreclosure on your home? Get all the facts before you pay someone to help you work out your mortgage problems.

HUD reports drop in number of chronically homeless persons living on nation’s streets

WASHINGTON - For the first time ever, the U.S. Department of Housing and Urban Development is reporting a nearly 12 percent decrease in the number of chronically homeless persons living on the nation's streets. HUD's analysis found that more than 20,000 persons moved from the streets into transitional and permanent supportive housing between 2005 and 2006

Home Owners Still Remodeling, But Watching

Interest in remodeling remains high, but home owners are more conservative about costs in light of declining home prices, a survey of 5,000 U.S. home owners by Remodelestimates.com found.

FTC Staff Files Mortgage Disclosure Comments With Banking Agencies

The Federal Trade Commission today released staff comments to the federal banking agencies – the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration – in response to their request for comments on proposed illustrations of consumer information for subprime mortgage lending. In their comments, FTC staff support the agencies’ efforts to develop mortgage disclosures to help subprime borrowers make better informed decisions.

Chairman Thompson Introduces The Safe and Healthy Emergency Housing Act

WASHINGTON, November 6, 2007 – Today, Rep. Bennie G. Thompson (D-MS), Chairman of the Committee on Homeland Security, released the following statement of introduction for H.R. 4079, the “Safe and Healthy Emergency Housing Act of 2007”

FTC Staff Files Mortgage Disclosure Comments With Banking Agencies

Washington, D.C., November 1, 2007 -- The Federal Trade Commission today released staff comments to the federal banking agencies – the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration – in response to their request for comments on proposed illustrations of consumer information for subprime mortgage lending.

Real Estate Industry Groups Warn of Severe Economic Impact from Proposed Tax Increase on...

WASHINGTON, Nov 2 /PRNewswire-USNewswire/ -- A proposed tax increase on a partnership's long-term investment return that was approved yesterday by the House Ways and Means Committee poses a severe economic threat to economic growth, jobs and the tax base, according to a group of twelve national real estate organizations.

Tax Surprise After the Short Sale

After the Short Sale: Taxing What Isn't There Too often, real estate practitioners are unaware of the tax liabilities arising from the cancellation of debt and fail to advise their clients accordingly.

Video – New National Poll: Majority of Americans Oppose Expanded Role for Government in...

WASHINGTON, Nov. 1 /PRNewswire/ -- As Congress debates how to solve the mortgage credit crunch, a new survey by Freedom Works indicates a majority of Americans don't want Uncle Sam to foot the bill

FPA President Reacts to Paulson and Bernanke Comments on Mortgage Crises

WASHINGTON, D.C., October 17, 2007 -- The president of the Financial Planning Association® (FPA®) says homeowners on the cusp of foreclosure due to subprime loans need to evaluate their options now, and not wait for a foreclosure notice before taking action

Refinance Applications Drive Increase in Latest MBA Weekly Survey

WASHINGTON, D.C., October 31, 2007 — The Mortgage Bankers Association (MBA) today released its weekly Mortgage Applications Survey for the week ending October 26, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 681.7, an increase of 3.8 percent on a seasonally adjusted basis from 656.5 one week earlier. On an unadjusted basis, the Index increased 3.6 percent compared with the previous week and was up 19.5 percent compared with the same week one year earlier.

Statement of Chairman Dodd on the Fed’s Decision to Lower Interest Rates

Washington, D.C., Oct 31, 2007 -- “The financial tremors caused by the on-going subprime crisis have badly cracked and damaged one of the bedrocks of the American dream – the ability to own a home. When I met with Fed Chairman Bernanke in August, he assured me that the Fed would use all of the tools at its disposal to deal with the current crisis in our housing and financial markets.

Energy ratings not a deal breaker, but buyers likely to act on EPC advice

The average home buyer will not be put off a potential property if it has a poor energy rating, according to Legal & General. However, they would be likely to act on the energy saving proposals made in an energy performance certificate (EPC). Three months on from the launch of Home Information Packs (HIPS), the Government has said that most homes are receiving an ‘E’ rating on an A-G scale, but this could rise to a ‘C’ relatively easily.

BUSH ADMINISTRATION AWARDS $22.2 MILLION IN GRANTS TO CONVERT MULTIFAMILY PROJECTS INTO ASSISTED LIVING...

WASHINGTON - Americans in seven states will soon find themselves living in upgraded apartments equipped to meet their physical needs thanks to more than $22.2 million in grants from the U.S. Department of Housing and Urban Development. HUD Deputy Secretary Roy Bernardi today joined Onondaga County Executive Nicholas J. Pirro and representatives from the office of Congressman Jim Walsh to make the announcement at Bernardine Apartments in Syracuse, New York.

Genesis Foundation & Home Downpayment Gift Foundation Prevail

WASHINGTON, Oct. 31 /PRNewswire-USNewswire/ -- The Genesis Foundation Inc. (Genesis) and Home Downpayment Gift Foundation, Inc. (HDGF), both 501(c)3 charitable entities dedicated to helping low and moderate income families create and maintain homeownership, announced today that it has prevailed in its temporary injunction in the Unites State District Court.

More Than 200,000 Letters Sent to At-Risk Homeowners

WASHINGTON, Oct. 31 /PRNewswire-USNewswire/ -- Beginning November 19, the nation's largest mortgage servicers will be sending HOPE NOW letters to at-risk mortgage borrowers, asking them to get help

Dodd Calls on Treasury to Increase Focus on Protecting Homeowners

Washington, D.C., Oct 17, 2007 -- Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, today sent a letter to Treasury Secretary Henry Paulson reiterating the need for lenders to modify subprime loans in order to avert massive foreclosures across the country.

Acting Attorney General Announces Results of Operation Home Sweet Home

WASHINGTON, OCTOBER 26, 2007 - The Justice Department announced the results of Operation Home Sweet Home, the Attorney General’s initiative to expose housing discrimination in America. In Fiscal Year 2007, the Department conducted a record number of undercover housing discrimination investigations, filed 30 lawsuits alleging unlawful housing discrimination, and obtained settlements and judgments requiring the payment of over $5 million in monetary damages to victims of discrimination and civil penalties.

Help Very Low-Income Elderly And People With Disabilities

WASHINGTON, October 26, 2007 - It will soon be easier for thousands of senior citizens and people with disabilities to find affordable housing, thanks to more than $643 million in housing assistance grants announced today by U.S. Housing and Urban Development Secretary Alphonso Jackson.

"This Administration is committed to making sure our senior citizens and people with disabilities have opportunities to find decent housing that they can afford," said Jackson. "Neither group should ever have to worry about being able to find a safe place to live.

Americans for Prosperity Leads Coalition Effort Against Taxpayer-Funded Sub-prime Mortgage Bailout

WASHINGTON, Oct. 25 /PRNewswire-USNewswire/ -- As Congress continues to debate the sub-prime mortgage issue, the free-market grassroots group Americans for Prosperity is leading a coalition representing millions of citizens to protect the best interests of taxpayers and homeowners.

Why do home foreclosure rates remain so high?

Oct. 23, 2007 -- As pressure mounts for Congress and the Bush Administration to restrict mortgage lending abuses that have saddled economically vulnerable families with mortgages they can not afford, the mortgage lending industry continues to funnel millions of dollars in lobbying and campaign donations to Congress, even as some of those mortgage institutions are struggling to stay afloat, a new Common Cause report shows.

Refinance Applications Increase In Latest MBA Weekly Survey

WASHINGTON, D.C., October 24, 2007 — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 19, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 656.5, a slight increase on a seasonally adjusted basis from 656.3 one week earlier.

Comptroller Testifies on House Subprime Lending Bill

WASHINGTON, October 24, 2007 -- Comptroller of the Currency John C. Dugan today expressed support for provisions in a House bill that would set national standards for subprime mortgages comparable to federal banking agency standards, and provide enhanced regulation for all mortgage brokers, but expressed concern about some parts of the proposed legislation.

HousePlansAndMore.com Adds Exciting New Features to House Plans Web Site

With more than 15,000 home plans to choose from, users may find the task of searching for a new home a bit daunting. But with HDA's new search features, finding that special luxury house plan is a breeze. Consumers are able to search by home plan style, size, and by estimated cost-to-build

NAR, SGA Find Americans Prefer to Spend More on Mass Transit and Highway Maintenance,...

WASHINGTON, Oct. 25 /PRNewswire-USNewswire/ -- Three-fourths of Americans surveyed believe that either being smarter about development or improving public transportation are both better long-term solutions for reducing traffic congestion than building new roads, according to a survey sponsored by the National Association of Realtors and Smart Growth America.

Popular Government & Nonprofit Press Releases

Manny Gonzalez

Santa Fe Association of REALTORS® Hosts “Bring Workers Home” Multi-Family Housing...

The Santa Fe Association of REALTORS® is hosting a Multi-Family Housing Conference on Thursday - September 28, 2017, from 9 a.m. to 2 p.m. at the Santa Fe Community Convention Center. The event is devoted to raising awareness of multi-family housing by providing a forum for key stakeholders to explore opportunities to promote, encourage and grow workforce housing in our region.

Recent Government & Nonprofit Press Releases

DOI

Secretary Zinke Announces $94.3 Million to States for Parks and Outdoor...

U.S. Secretary of the Interior Ryan Zinke today announced that $94.3 million will be distributed for outdoor recreation and conservation projects to the 50 states, U.S. territories, and the District of Columbia from the Land and Water Conservation Fund (LWCF), which is funded through offshore oil and gas leasing. These funds are awarded through federal matching grants that leverage public and private investment in America’s state and local public parks.