Tag Archives: Debt Forgiveness

Why ‘Fiscal Cliff’ Deal Will Help the Housing Recovery

The housing market is on firmer ground today, as two major tax provisions survived the “fiscal cliff.” Congress did not touch the mortgage interest deduction, and it extended tax relief for one year on mortgage debt forgiveness. “An extension of … Continue reading

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Housing Recovers, but the Repo Man Is Back

Foreclosures continue to ease in the formerly hard hit states, like California, Arizona and Nevada, as investor demand continues to prop up home prices and clear distress from those markets. Newly started foreclosures fell 63 percent from a year ago … Continue reading

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Housing Alert: Short Sales May Be in Big Trouble

As lenders plow through a backlog of over five million delinquent mortgages, short sales are becoming an ever more popular escape route. A short sale is when the bank allows a home to be sold for less than the value … Continue reading

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Obama Gets Big ‘No’ On Slashing Mortgage Debt

Despite strong pressure from the Obama administration, a federal regulator will not allow Fannie Mae and Freddie Mac to reduce mortgage principal. The Federal Housing Finance Agency’s Ed DeMarco has previously opposed the program, which uses taxpayer money to pay … Continue reading

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