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June 27th, 2010 |
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The Los Angeles Times
California, four other states to get more housing aid
The Obama administration has approved five state-designed plans to help homeowners as part of a $1.5 billion effort to assist areas slammed by the U.S. housing bust.
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The Sacramento Bee
Big risks, rewards in home “flipping”
Critics call the game “flipping” and blame it for a housing bubble that triggered the real estate crash in the first place. But others view it as Business 101, a critical piece of digging out from the crash. Houses with troubled histories get bought, repaired, and quickly resold, generating cash for new business entities to do it again and again.
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CNN Money
New home sales plummet to record low
New home sales plummeted to a record low in May, the first month following the expiration of the home buyer tax credit. This snapped a two-month streak of gains.
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The Wall Street Journal
Does the housing market need a pep rally?
The Treasury and the Dept. of Housing and Urban Development released a new monthly “housing scorecard” in an attempt to show that the administration is making progress in its efforts to heal the market.
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The Los Angeles Times
Troubled homeowners find help outside Obama program
More borrowers dropped out of the Obama administration’s foreclosure prevention program last month than were added, but many of those homeowners found private help from their mortgage companies, according to data released Monday.
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CNN Money
Foreclosure crisis hits minorities hard
The mortgage meltdown is hitting the African-American and Latino communities harder than whites, a new study has found.
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The Wall Street Journal
REALTORS®, brokers target home-appraisal rule
The mortgage-broker and real-estate industries are pushing to have a measure that would kill new home-appraisal rules inserted into pending legislation to overhaul financial-sector regulation.
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The Press Enterprise
People optimistic about economy
Californians are feeling better about the economy than they were a few months ago, but they continue to hold back on big-ticket spending, according to a recent survey by Chapman University.
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