January 24, 2011

Housing for All Americans

Author: admin - Categories: Department of Housing and Urban Development, Published Real Estate Articles

The U.S. Secretary of Housing and Urban Development wrote an important article that affects real estate and all types of borrowers.  Whether you need a home loan for your first house or a mortgage refinancing loan, HUD continues to offer superior home financing solutions. HUD has the enormous responsibility of overseeing the Federal Housing Administration. The FHA is a government entity that insures home mortgages in the United States. The default rates have risen on government insured loans, but the positive impact that the FHA has had on the housing recovery in undeniable.

Here is the article posted by the U.S. Secretary of Housing and Urban Development: Martin Luther King, Jr. famously said that “the arc of the moral universe is long, but it bends towards justice.” Last month, we were reminded of Dr. King’s insight once again, as President Obama signed legislation repealing “Don’t ask, don’t tell” into law. It was a moment, the President noted, “more than two centuries in the making.” I’m proud that the Department of Housing and Urban Development (HUD) is part of that commitment, as we work to make exclusivity and diversity cornerstones of America’s housing policy.

Shaun DonovanIndeed, from conducting the first-ever national study of LGBT housing discrimination to instructing our staff to be vigilant about whether any LGBT-based housing discrimination complaints can be pursued through the Fair Housing Act, we’ve worked to ensure our core housing programs are open to all. That’s why we recently announced a new rule ensuring LGBT individuals and couples can benefit from HUD programs.  Read the original article by Shaun Donovan.

January 27, 2010

New Home Sales Stuck Near Record Low Levels

Author: admin - Categories: Department of Housing and Urban Development, New Residential Home Sales, Real Estate News

The Census Bureau and the Department of Housing and Urban Development today released New Residential Home Sales survey data for December 2009.  The survey is primarily based on a sample of houses selected from building permits. Since a “sale” is defined as a deposit taken or sales agreement signed, this can occur prior to a permit being issued.  Some insiders believe that loan modification plans may be hindering home sales, because lenders are extending loan workouts with distressed homeowners.

Changes in sales price data reflect changes in the distribution of houses by region, size, etc., as well as changes in the prices of houses with identical characteristics. It takes four months to establish a trend of new home purchases.

Nationwide Mortgage Loans announces discounted mortgage refinance programs. FHA Allows Home Buyers Tax Credit.  Read more on FHA Loans.

Sales of new single family homes fell 11.3% to an annual pace of 355,000 units. This was much lower than consensus estimates of 440,000 annual sales and 45,000 less than the October print of 400,000, which was revised for the worse from 430,000. This was the slowest pace of new home sales in 7 months and the worst month over month decline since January 2009.