The Obama administration is poised to unveil two new features that would widen its assistance to troubled homeowners in danger of foreclosure. Speaking to participants at the annual Mortgage Bankers Association convention, Laurie Maggiano of the Treasury's Office of Homeownership Protection said regulators would roll out a new, streamlined application for borrowers seeking a loan modification under the government's Making Home Affordable Modification Program.
A month after its stock rating was downgraded, insiders say Capmark Financial Group Inc. - one of the nation's largest commercial servicers - is set to file for bankruptcy protections sometime in the next week or two. The real estate giant was created in March 2006 after a buyout of GMAC Commercial Holding Corp.'s assets, and its impending collapse is another dramatic talk in the saga of the nation's credit-based recession.
Gov. Arnold Schwarzenegger signed nine housing bills into law this week. One in particular, Senate Bill 94, consumer advocacy groups are calling a clear victory for California's many troubled homeowners facing foreclosure. The bill bans all foreclosure consultants, including loan modification firms and attorneys who specialize in loan mods, from asking for any fees or compensation before fully completing the services contracted.
The number of foreclosed homes currently on offer by Countrywide has fallen to early 2007 levels, indicating that the housing market is recovering and may be poised for a rebound. The Countrywide Foreclosure Blog reports that there are currently 5,959 foreclosed homes being offered for sale on the Bank of America/Countrywide Web site, compared to the peak of 21,500 in November 2008.
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Rob Alley, Realtor
Keller Williams Realty
540-250-3275
roballeyrealtor@gmail.comhttp://www.charlottesvillevarealestate.blogspot.comhttp://www.robsellscharlottesville.comOh, by the way, I am never too busy to work any of your referrals.
Each Office Independently Owned and Operated
Licensed to Sell Real Estate in the Commonwealth of Virginia
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