The rent is too damn high-so each year Congress appropriates billions of dollars to address the nation's collective housing needs. The programs vary from loans to tax credits to straight-up subsidies, but a common feature is that federal taxpayers pony up the dough and then a motley collection of state-level politicians, financing agencies, and housing […]
Earlier this year, Forbes ranked Detroit's real estate market as the most undervalued in the nation. The report cited the city's low housing prices and the prospect of increased development as reasons for Detroit's recent real estate boom. Foreclosure News
Freddie Mac today announced its re-entry into the Low-Income Housing Tax Credit market as part of the newly launched Duty To Serve program , an initiative geared toward addressing persistent affordable housing problems by preventing foreclosures, responsibly expanding credit, educating future borrowers, counseling current borrowers and supporting affordable rental housing. Freddie Mac's first investment is […]
The parent company of highly criticized Pasadena-based OneWest Bank will spend a recent $ 2.5 million equity investment on low-income and distressed communities, CIT Bank, N.A. announced. CIT's investment in the Clearinghouse Community Development Financial Institution marks the largest such investment in Clearinghouse's 20-year history. Foreclosure News
The two Peoria lawmakers who sponsored it say that it could make a real difference in preventing people – particularly in low-income areas – from being taken advantage of by unscrupulous sellers. Senate Bill 885 is designed to combat situations in which in some instances “folks were being treated like renters, never built any equity,” even though […]
ABA Journal Daily News
Following the mortgage meltdown that began nearly a decade ago, it became harder for many buyers to get a loan to purchase a home. That… ABA Journal Daily News
Patrick Songy addresses a client as Todd Hubbard looks through paperwork at the Snohomish County Courthouse in Everett on Friday morning. Songy is one of many volunteers with the Housing Justice Program, an arm of Snohomish County Legal Services, that provide free legal services to indigent people facing eviction and other legal proceedings. Foreclosure News
Attorney General Matt Denn is calling on lawmakers to use $ 29 million in settlements from banks to help low-income communities in Delaware. Denn announced his proposal Wednesday for the remaining funds received from Bank of America and Citigroup to resolve allegations that market misconduct contributed to the financial crash in 2008. Foreclosure News