Friday, February 10, 2012
HUD Secretary Shaun Donovan discusses the big deal struck between federal and state officials to help struggling homeowners--and what it could mean for the New York area. More information on the settlement here.
Tuesday, May 31, 2011
Tuesday, January 18, 2011
Two years ago, Galveston, Texas was hit hard by Hurricane Ike, leaving thousands of homes destroyed or badly damaged. Then about a year ago, over $160 million was released to the city to help residents repair and reconstruct their homes. However, many of those residents, like Antonio Hale, still have not seen a dime. Harvey Rice, a Galveston based reporter for the Houston Chronicle, has been covering this ongoing battle between Galveston's home owners and the red tape they are fighting through.
Friday, June 25, 2010
Mortgage giant Fannie Mae announced plans this week to institute a new rule penalizing homeowners who walk away from their mortgages. If homeowners are able to afford home payments, Fannie Mae says they will pursue them in court and restrict their access to future home loans for seven years. The decision will affect many home-owning Americans since the mortgage market is nearly completely controlled by Fannie Mae, and its sister company Freddie Mac, as well as the Federal Housing Administration.