mortgage assistance

FHA Announces Moves Designed To Avoid Taxpayer Bailout

Fri, 16 Nov 2012 18:25:00 +0000

The Federal Housing Administration is on track to run out of money next September and may need a taxpayer bailout, an audit released today found.

Responding to the audit, however, the Obama administration announced a series of measures that they hope will raise enough revenue to keep the agency from seeking government help.

The Wall Street Journal explains:

"Housing officials said Friday they would be raising annual insurance premiums charged on FHA loans by 0.1 percentage

Hidden Housing Subsidy May Soon Come Out Of Hiding

Fri, 16 Nov 2012 15:57:00 +0000

The federal government has all these ways of paying people to buy houses without actually, you know, paying people to buy houses.

We've talked a lot about two examples of this:

1. The mortgage-interest tax deduction is effectively a government payment to people who are paying a mortgage.

U.S. Government Sues Wells Fargo In Mortgage Case

Eyder Peralta — Tue, 09 Oct 2012 21:24:00 +0000

The U.S.

'Dual Tracking' To Stop For Homeowners

Yuki Noguchi — Wed, 03 Oct 2012 08:20:00 +0000

Transcript

RENEE MONTAGNE, HOST:

Troubled homeowners trying to modify their loans often complain about being dual-tracked. That's when banks work on a loan modification, but at the same time, continue with the process of foreclosing. As of today, five of the country's major lenders are no longer supposed to put borrowers on a dual track. Those are the terms of a national settlement agreed to by those lenders earlier this year after it was revealed that the banks were robo-signing - mass producing foreclosure documents without checking their accuracy.

Mortgage Settlement Overseer issues Report

Yuki Noguchi — Thu, 30 Aug 2012 09:56:00 +0000

Transcript

STEVE INSKEEP, HOST:

Let's follow up on another story. Earlier this year, five big banks settled the so-called robo-signing case, admitting they rushed the foreclosure processes for thousands of homeowners.