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Economy

HUD fights loan modification scams

preventscamsLast Friday, the U.S. Department of Housing and Urban Development (HUD) and the Loan Modification Scam Prevention Network launched PreventLoanScams.org, a site where homeowners can report alleged scams.

Rutland Herald: Vermont foreclosures rise

The Rutland Herald published an article this weekend about the recession and its effect on foreclosures in Vermont.

VHFA Policy & Planning Manager Maura Collins and VHFA Commissioner and Deputy Commissioner of Vermont's Department of Banking, Insurance, Securities and Health Care Administration Thomas Candon were both quoted in the story.

Read the Herald story online.

Renters: You have rights if your landlord faces foreclosure

vtiRent an apartment? Landlord losing the property to foreclosure? Think you have to move? Think again.

If you have a valid lease and have been paying your rent, the law says the new owner of the property most likely must honor the term of your lease. If you're renting month-to-month, you're owed 90 days' notice before you have to move out.

Forbes: Housing shortage coming in 2011

If we don't focus on building new housing, the nation's headed for a crisis larger than the one we've already seen.

That's the warning made by First Trust Advisors Chief Economist Brian Wesbury in a recent interview with Steve Forbes.

Nationally, "we need 1.5 million houses per year just to keep up with population growth," he says. "And then if you throw in, you know, fires and tear-downs and just worn-out properties, we need 1.6 million or more per year.

Reports: Foreclosures will affect home prices for years

Two recent reports suggest loan modification efforts will delay, not prevent, home foreclosures — and those foreclosures will lower home prices for the next several years.

Those conclusions come from studies issued by John Burns Real Estate Consulting Inc. and Standard & Poor's Financial Services LLC.

Read more about the studies at the Wall Street Journal.

VHFA gives Housing Needs Assessment testimony

2010hnaVHFA Policy & Planning Manager Maura Collins will present testimony regarding the recently-published Vermont Housing Needs Assessment (HNA) to the Vermont House General, Housing and Military Affairs Committee tomorrow morning at 9:30.

Live presentations on HNA available for your group

2010 hnaVHFA Policy and Planning Manager Maura Collins will present highlights from the recently-published Vermont Housing Needs Assessment (HNA) to members of the Vermont Home Builders and Remodelers Association Developer's Council today.

Federal investment will finance 200,000 affordable homes

susan deweyMore than 200,000 affordable homes will result from the nearly $14 billion the U.S. Department of Treasury invested in the nation's housing finance agencies (HFAs) Tuesday.

The department's purchase of housing bonds is part of the Obama Administration's Housing Finance Agency Initiative, an element of its Making Home Affordable program.

NAR: Vermont real estate market on the rebound

lawrence yunHome prices in Vermont are stabilizing, and will continue to become more stable in 2010. That was the message the National Association of Realtors' (NAR) Lawrence Yun (pictured) delivered when he addressed the Northwestern Vermont Board of Realtors yesterday.

Rebates for Vermonters upgrading to energy efficient appliances

The federal government is offering nearly $600,000 in refunds to Vermonters who upgrade their household appliances to more energy efficient models.

The money is part of the American Recovery and Reinvestment Act of 2009.

The state is running a mail-in rebate program to help Vermonters replace older, inefficient appliances with new, high-efficiency Energy Star® qualified and ultra-efficient appliances.

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