Tag: homebuyer tax credit

Locals are Effective as Home Mortgages Collapse

Just-released figures from Treasury and HUD report that the number of homeowners who defaulted on their mortgages, even after securing lower payments through loan modification, nearly doubled in March. Relief efforts are diminishing rather than growing. The Federal Reserve has ended its $1.25 trillion program to buy mortgage backed securities. The first-time homebuyer tax credit

Continue reading

The Housing Market Will Stand on its Own

The U.S. government is moving to cease its deep intervention in the housing markets.  The Treasury Department already has stopped buying up mortgage-related securities and the Federal Reserve will taper off its purchases gradually, ending them by March 31. Then in June, the homebuyer tax credit program ends. As with “cash for clunkers,” the federal

Continue reading