Borrowers nationwide who think they were financially harmed during the mortgage foreclosure process in 2009 or 2010 may request an independent review and potentially receive compensation. The deadline for filing applications has been extended until December 31, 2012.
Economy
Vermont home prices hit bottom
Housing and real estate markets in both the U.S. and Vermont, as measured by home prices are probably close to or just past their "cyclical troughs", according to economists at Kavet, Rockler, and Associates.
Vermont was one of nineteen states that experienced positive year-over-year home price appreciation in the first quarter of 2102, according to the latest report from the economists.
HUD chief chats with nation's homeowners this Thursday at 3:15 pm
U.S. Secretary of Housing and Urban Development, Shaun Donovan, will answer questions from homeowners and go over the issue of refinancing via a live on-line video "hangout" on Thursday at 3:15 PM.
Secretary Donavan will also discuss how increasing the number of American homeowners who refinance at today's low interest rates can help the economy at large.
State housing finance agencies boost U.S. housing market recovery
VHFA and its counterparts across the nation are increasing home buying activity through “very solid” tax-free municipal debt, according to Bloomberg news.
Recession prompted national increase in household sharing
The number and percentage of shared households increased over the course of the recent national recession, according to a report released last month by the Census Bureau. A “shared household” is a household which includes at least one additional adult who is not a student, spouse, or partner of the primary household head.
Incidence of underwater mortgages varies greatly by region
About 31 percent of American homeowners with mortgages owe more on their mortgages than their home is worth, according to a recent report from Zillow. The incidence of the problem ranges greatly by region, however.
Federal analysts predict a 2013 recession unless Congress acts on fiscal issues
Automatic federal tax increases and spending cuts due to take effect this year are likely to push the economy into a recession in 2013, according to an analysis released this week by the Congressional Budget Office. The contraction would be accompanied by a dramatic fall in the federal budget deficit.
Economists advise acknowledging the possibility of house price declines
Facts refute the popular story that the nation's foreclosure crisis resulted from financial industry insiders deceiving uninformed mortgage borrowers and investors, according to the authors of a new national-level report from the Boston Federal Reserve Bank. Borrowers and investors made decisions that were rational and logical given their ex post overly optimistic beliefs about house prices, the aut