What Obama’s Housing Plan Means for You
By Sara Kehaulani Goo, Washington Post, Feb 1, 2012

Many people are wondering about President Obama’s refinance plan, announced Wednesday, and a new program that would try to make thousands of vacant homes available for rent. Is this your chance to refinance and take advantage of the historically low interest rates? Will this really help the housing market — and the economy? Let’s walk through it.

U.S. Regulator Launches Foreclosure Sales Plan
By Margaret Chadbourn, Reuters, Feb 1, 2012

The regulator for mortgage finance companies Fannie Mae and Freddie Mac said on Wednesday investors could now sign up to pre-qualify to bid on foreclosed properties held by the government-controlled firms.

Homeownership Rates Fall to 66%
By Julie Schmit, USA TODAY, Feb 1, 2012

The U.S. Census Bureau reported Tuesday that the nation's homeownership rate fell to 66 percent in the fourth quarter, continuing a seven-year drop from a fourth-quarter peak of 69.2 percent in 2004. Falling homeownership — and prices — reflect the worst housing downturn since the Great Depression. And while there are signs that the housing industry's downturn may at least be nearing a bottom, the impact of the collapse will be evident for years to come, economists say.

No Bottoming Out for Real Estate Market as Home Values Keep Falling
By Alison Rogers, TIME, Jan 31, 2012

If you’re watching the real estate markets, the good news is that the Federal Reserve has pledged to keep interest rates low through 2014. The bad news is that the market is going to need it. The November Case-Shiller housing numbers, released this morning, indicate that prices tumbled 3.7% from the year before. That’s below expectations of a 3.2% drop.

Bernanke: Fed Will Protect U.S. Economy from Europe
By Annalyn Censky, CNNMoney.com, Feb 2, 2012

The recovery remains "frustrating slow" in the United States, and now Europe's debt crisis is posing additional challenges, Federal Reserve Chairman Ben Bernanke told Congress Thursday. "Risks remain that developments in Europe or elsewhere may unfold unfavorably and could worsen economic prospects here at home," Bernanke told the House Budget Committee.

Hedge Funds Brace for Euro Zone Break-Up
By Laurence Fletcher, New York Times via Reuters, Feb 1, 2012

Nervous hedge funds managers are stress-testing their portfolios and searching for ways of protecting themselves against their worst nightmare — a potential break-up of the euro zone. With talks on restructuring Greece's debt mountain still deadlocked, and the exit of one of more countries from the euro seen as a small but definite possibility, funds are modeling scenarios ranging from a 50 percent slump in European stocks or a 45 percent fall in the oil price to a 30 percent rise in gold.

Freddie Mac Bets Against American Homeowners
By Jesse Eisinger, ProPublica and Chris Arnold, NPR News Jan. 30, 2012

 Freddie Mac, the taxpayer-owned mortgage giant, has placed multibillion-dollar bets that pay off if homeowners stay trapped in expensive mortgages with interest rates well above current rates. But the trades, uncovered for the first time in an investigation by ProPublica and NPR, give Freddie a powerful incentive to do the opposite, highlighting a conflict of interest at the heart of the company. In addition to being an instrument of government policy dedicated to making home loans more accessible, Freddie also has giant investment portfolios and could lose substantial amounts of money if too many borrowers refinance.

New Law Has Stalled, Not Stifled, Foreclosures
By David McGrath Schwartz, Las Vegas Inc., Jan 29, 2012

Banks have stopped filing new foreclosure notices in Nevada, but that doesn’t mean the housing crisis has passed. In fact, bankers say a new law that took effect in October has put bank foreclosures on hold and is preventing the Las Vegas housing market from finally hitting bottom and “returning to normal,” Bill Uffelman, president of the Nevada Bankers Association, said.

Who Benefits from Possible $25B Mortgage Settlement?
By Julie Schmit, USA TODAY

After nearly a year of negotiations, federal and state officials and major mortgage servicers are moving closer to a multibillion-dollar settlement over alleged foreclosure and mortgage loan-servicing abuses. A deal could be finalized by early February, some officials say, although that's not a certainty. And its terms could change.  Based on interviews with officials on both sides of the negotiations, USA TODAY reporter Julie Schmit explains what a potential settlement might include and what it's likely to mean for borrowers and the housing market.

Is Obama's 'Economic Populism' for Real?
By Matt Taibbi, Rolling Stone, Jan 26, 2012

There is a lot to digest in a recent series of events on the Prosecuting Wall Street front – the two biggest being Barack Obama’s decision to make New York Attorney General Eric Schneiderman the co-chair of a committee to investigate mortgage and securitization fraud, and the numerous rumors and leaks about an impending close to the foreclosure settlement saga.

Foreclosures made up 20 pct. of home sales in 3Q
By Alex Viega, The Associated Press, January 26, 2012

LOS ANGELES  — Foreclosures made up a smaller slice of all U.S. homes sold in last year's third quarter, as banks delayed placing properties for sale and home sales slowed.

Foreclosure sales decline locally
By Tom Knox, The Daytona Beach News-Journal, January 26, 2012

Sales of foreclosure properties declined in both Volusia and Flagler counties in the third quarter of 2011, according to data released Wednesday by national research firm RealtyTrac.

Two Obama initiatives to address foreclosure crisis face hurdles
By Jim Puzzanghera and Alejandro Lazo, Los Angeles Times, January 26, 2012

Two new initiatives from President Obama to address the foreclosure crisis — more help for struggling homeowners and aggressive investigations of financial firms — face significant hurdles as the nation's real estate troubles linger in a volatile election year.

California Democrats cheer Obama's housing proposal, but want much more
By Mike Lillis, The Hill, January 25, 2012

President Obama's latest housing proposal is a welcome change but won't come close to solving the nation's foreclosure crisis, California's House Democrats warned Wednesday.

Bank Foreclosure Deal ‘Inadequate,’ Says California’s Harris
By Joel Rosenblatt, Bloomberg, January 25, 2012

A proposed multistate settlement with Bank of America Corp., JPMorgan Chase & Co. and three other U.S. mortgage servicers to resolve probes of foreclosure practices is “inadequate for California,” state Attorney General Kamala Harris’s office said.

Donna Berger: Safe harbor condo legislation in Tallahassee ill-advised
By Donna DiMaggio Berger, Sun Sentinel, January 26, 2012

In a sign of the times, a proposed amendment to a legislative bill currently under consideration in Tallahassee is fueling a controversy that would rally homeowners in more than 60,000 condominium, HOA and other community associations statewide against mortgage lenders who foreclose on homes in those communities.

Bank Foreclosure Deal Reviewed by States as Delaware Drops Out
By David McLaughlin, Bloomberg, January 24, 2012

State attorneys general reviewed a proposed settlement with banks over foreclosure and mortgage- servicing practices that negotiators are pressing to complete as Delaware said it would reject a deal said to total $25 billion.

Papers in foreclosure cases ruled insufficient
By Tim O’Reiley, Las Vegas Review-Journal, January 24, 2012

The Nevada Supreme Court has added teeth to the state's foreclosure mediation program in a pair of rulings that require lenders to produce all required documents before repossessing a house.

Biden Suggests Romney Foreclosure Plan Could Fix Crisis, But Would Not Be Most Humane Approach
By Kelly Chernenkoff, Fox News, January 23, 2012

The Obama campaign made political hay out of Republican presidential candidate Mitt Romney's comment late last year about foreclosures, but now Vice President Joe Biden is suggesting Romney's plan might actually work. Biden indicates, however, it may not be the most humane course of action.

State Senate votes to extend mortgage protections
By Don Thompson, Associated Press, January 23, 2012

California lawmakers voted Monday to extend a law passed during the peak of the mortgage crisis that provides added protections for property owners, renters and neighbors of foreclosed properties.

Lawmakers turn attention to homeowners groups
By Patrick Gannon, StarNews Online, January 23, 2012

Friction between homeowners associations and their members in North Carolina played out in a Raleigh auditorium Monday before a committee charged with coming up with ways to ease the sometimes-contentious relationship.

More relief for foreclosures sought at State Capitol
By Debi Brazzale, Colorado News Agency, January 22, 2012

State lawmakers gathered today on the doorstep of a Denver resident to introduce two proposals aimed at creating more of a buffer for homeowners facing foreclosure proceedings.

Super Bowl XLVI Analysis:

Spread Favors 49ers In the Foreclosure Bowl

By Joel Cone
Staff Writer

It took 17 weeks of regular season play to determine the four playoff teams fighting it out in the NFL postseason for the right of passage to what is likely to be the most watched sporting event of 2012 …Super Bowl XLVI.

Likewise, it took 12 months to determine which NFL cities will be the foreclosure champions of the year in 2011 (a dubious distinction/honor to say the least). Just like football has its polls (and the sportsbooks) to establish a spread for the eventual winner, RealtyTrac has its own polls to help determine who should win the “Foreclosure Bowl” for 2011.

Based on the four teams left standing in the NFL playoffs: New York Giants vs. San Francisco 49ers (in the NFC), and Baltimore Ravens vs. New England Patriots (in the AFC), the spread favors….

THE SAN FRANCISCO 49ERS…. for winning Super Bowl XLVI by a healthy margin based on two foreclosure metrics for metro areas.

That is without, of course, factoring in any of the usual football stats like favorite quarterback with the fans, best end zone dance combination by a wide receiver, running back with the biggest ego, field goal kicker with the longest distance, or defense with the most personal fouls in a game (for helmet to helmet contact and pass interference), etc…

When all is said and done, San Francisco wins hands down from both sides of the foreclosure scrimmage line in these informal (and unofficial) polls: 1) for the most properties with foreclosure filings for 2011; and 2) the metro foreclosure rate based on one foreclosure filing for every “X” housing units in the metro area.

San Francisco reported 40,986 properties with foreclosure filings in 2011, outdistancing its nearest competitor, New York, home to the New York Giants, which reported 33,610 properties with foreclosure filings. The Boston metro area, home to the New England Patriots, came in third highest, reporting 14,746 properties with foreclosure filings, followed by the 5,559 properties with foreclosure filings reported for the Baltimore metro area, home of the Baltimore Ravens, for all of 2011.

With one in every 42 housing units receiving a foreclosure filing last year, the coaching staff for the San Francisco metro area also dominated the game strategically from a foreclosure rate perspective. None of the other three teams came close to competing with the 49ers in this category.

Reporting one in every 125 housing units with a foreclosure filing, the Boston metro area was the next closest competitor, with the Baltimore metro area coming in with a record of one in every 200 housing units with a foreclosure filing. New York came in dead last in this category (actually a good thing in this instance), reporting a rate of one in every 222 housing units with a foreclosure filing.

For better or worse, with Super Bowl XLVI only two weeks away, the foreclosure gurus at RealtyTrac select the 49ers to win the Vince Lombardi Trophy on February 5 in Indianapolis. Check out the coverage on NBC with kickoff scheduled for 6:30 p.m. EST.