Housing Rescue

Housing Rescue

• Federal Agencies Outline Sustainable Communities Agenda

  HUD, EPA, and the Department of Transportation will align efforts to improve housing affordability, increase transportation options, and reduce carbon emissions.

• Local Plans for Stabilizing Neighborhoods With HUD Dollars Appear 'Innovative and Effective'

  Such efforts should eventually help builders by reducing inventory of foreclosed homes.

• BUILDER’s Top 10 Housing Stories of 2008

  This past year saw unprecedented government intervention, the end of Kimball Hill Homes, falling starts, and growing financial difficulties for the nation's home builders.

• Arriving Soon: $3.9 Billion in HUD Money

  Local HUD offices now reviewing plans for money allocated to help areas hard hit by foreclosure.

• Low Expectations for 'Hope for Homeowners'

  Experts believe far fewer homeowners will benefit from federal government's foreclosure-prevention program than projected.

• Freddie Mac Fights Back Against New York Times article on Richard Syron

  GSE challenges New York Times story that says CEO ignored warnings about bad loans.

• NAHB Hails Tax Credit as Significant Stimulus to Housing Market

  Builders say a tax credit has worked before to correct a faltering housing market.

• Builders discuss whether first-time home buyer tax credit will be good for the housing market

  Howard: The tax credit 'will get potential home buyers who have been sitting on the fence back in the game.'

• Builders Grapple With Housing Bill's Elimination of Seller-Funded Down Payments

  Ledford: 'This will be an impact because it's grown to be such a large program.'

• The Housing Bill’s $4 Billion Question

  McIlwain: Block grants for foreclosed properties ‘may stop the sickness from spreading but not necessarily cure the cancer.’

• President Bush Signs Housing Bill

  Legislation provides for greater GSE regulation, FHA changes, and more.

• Housing Bill Awaits President’s Signature

  Legislation passed by House, Senate last week, but impact remains to be seen.

• House Passes Rescue Package

  Worried about Fannie and Freddie, the White House says it will not veto housing rescue legislation, despite reservations about the bill.

• New Lending Rules Will Have Little Short-Term Impact on Builders

  Many lenders have already tightened standards because of the housing slump and rising foreclosures.

• Builder Sentiment Hits New Low in July

  NAHB renews call for first-time home buyer tax credit.

• Housing Bill Stalled Again?

  Politicians start wrangling over Treasury plan to shore up GSEs at a terrible time for builders.

• Federal Reserve Board Moves to Protect Home Loan Borrowers

  New mortgage lending rules will require lenders to verify income and assets and avoid misleading advertisements.

• Down-Payment Assistance Debate Begins Again

  At stake is builders' access to a segment of the first-time and first-time move-up home market of buyers that would otherwise not qualify for conventional mortgage financing.

• Government Bolsters Freddie, Fannie

  Treasury, Federal Reserve tell investors they will stand behind GSEs.

• Mortgage Lender IndyMac Shuts Doors

  Bank reopens today under federal management; customers withdrawing their funds.