Unemployed homeowners could get financial assistance
Unemployed homeowners could get financial assistance
USA Today
WASHINGTON — The Obama administration is engaged in high-level talks about providing financial assistance to homeowners who've lost their jobs and can't afford their mortgage payments.
The Treasury Department held meetings on the subject as recently as Thursday with key stakeholders, according to Laura Armstrong, a spokeswoman for Hope Now, an alliance of non-profits and mortgage servicers, and more discussions are planned.
Housing Agency's Cash Reserves Will Drop Below Requirement
The Washington Post
The Federal Housing Administration has been hit so hard by the mortgage crisis that for the first time, the agency's cash reserves will drop below the minimum level set by Congress, FHA officials said.
The FHA guaranteed about a quarter of all U.S. home loans made this year, and the reserves are meant as a financial cushion to ensure that the agency can cover unexpected losses.
Deadline nears for first-time home-buyer tax credit
USA Today
Time is fast running out for first-time buyers hoping to get a tax credit of up to $8,000, and Realtors say they're seeing a marked upswing in interest as the deadline looms.
Real estate groups also are urging Congress to extend the credit beyond its current deadline and expand the tax credit to up to $15,000. Now, buyers must close on their purchase by Nov. 30 to be eligible for the credit.
Investigations of mortgage fraud soar 63%, FBI reports
NY Daily News
Mortgage fraud cases under investigation by the FBI have jumped by about 63% in the past year, according to bureau director Robert Mueller.
"The schemes have evolved with the changing economy, targeting vulnerable individuals, victimizing them even as they are about to lose their homes," he told the Senate Judiciary Committee on Wednesday.
Move, Inc., Appoints Chief Technology Officer and Chief Product Officer
BusinessWire
WESTLAKE VILLAGE, Calif. — Move, Inc. (NASDAQ:MOVE), the leader in online real estate, today announces the appointment of David Story as chief technology officer and Scott Boecker as chief product officer.
Based at Move’s office in Campbell, California, Story and Boecker will report directly to Move, Inc., Chief Executive Officer Steve Berkowitz. Story will lead all elements of the Company’s tactical and strategic technology development, and Boecker will lead the company-wide development of the organization’s product strategy, product lifecycle planning and product design for all business functions.