Oregon, Washington State, and higher-priced areas of the country are absorbing a larger share of recent market declines based on data from Q1 2023, while other lower-priced areas show less impact from the recent downturn.
Read More »Slow Down Ahead
Though the share of underwater borrowers has fallen for 20 straight quarters, data released today begs an interesting question. Could the days of decline be coming to a close?
Read More »FHFA Throws Struggling Homeowners a Lifeline
For seriously delinquent, underwater homeowners struggling through the murky aftermath of the financial crisis, help is on the way in the form of a gift from the Federal Housing Finance Agency.
Read More »Legislation to Extend Tax Relief to Distressed Homeowners Currently in House, Senate Committees
Congressman Tom Reed (R-New York) introduced the Mortgage Forgiveness Tax Relief Act of 2015 (H.R. 1002) on February 13, and that bill is now being heard in the House Committee on Ways and Means. Two weeks later, Senators Debbie Stabenow (D-Michigan) and Dean Heller (R-Nevada) introduced a similar bill (S. 608), which is currently in the Senate Banking Committee. Both bills would extend relief to homeowners on forgiven mortgage debt – the remaining mortgage balance when a borrower sells a home in a short sale to avoid foreclosure
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