Day: August 11, 2010
HUD Giving Non-Profits and Governments Discount on REOs
The Department of Housing and Urban and Development (HUD) announced last week that they will give state and local governments and nonprofits participating in the Neighborhood Stabilization Program (NSP) preference to buy its REO at 10% below the appraised value. The new initiative will also give these buyers a 14-day first-look period to consider buying… Continue Reading
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Owners of Blighted Property Shamed Online
One city in eastern Pennsylvania is taking on owners of neglected property… online. The mayor of Reading recently announced a new online “Wall of Shame,” featuring blighted properties that are scheduled to be torn down unless they are fixed up. The site includes the property owner’s name, photos and the address of the property. The… Continue Reading
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Administration Weighs New Refinance Plan as Housing Programs Falter
Rumors of a new government-led mortgage refinancing program have surfaced, and sources have confirmed that the White House is considering a refi push that will allow homeowners to lower their mortgage obligations by taking advantage of today’s low interest rates. Some industry experts see this move as a concession that the existing government housing programs… Continue Reading
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