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Mortgage relief plan falling
Hope Now hotline leaves callers frustrated; ‘more work to be done’Foreclosures are not letting up
March 13: Nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year, new data show. CNBC’s .
The government’s flagship program to give struggling homeowners relief from overwhelming mortgage payments has left hundreds if not thousands of callers frustrated by long wait times, lack of follow-up and relatively minor loan modifications that have failed to help.
Forty Seven price reductions in SLO County
136416
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$619,000 138/138 1036 S Ocean Ave #D 3 2 1 (1 0 0 0) 845 845 15
140106
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$643,000 12/58 2858 Orville Ave 3 3 2 (2 0 0 0) 1982 15
133933
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$649,000 229/229 525 Lucerne Rd 3 1 2 (2 0 0 0) 908 0.021 10
139017
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$1,890,000 42/193 537 Lucerne Rd 3 2 2 (2 0 0 0) 1504 0.035 13
Foreclosure 'crisis' is overblown
I posted two contradicting articles let me know what you think about SLO county's foreclosure's. Are you in Mortgage trouble?
Sure, there are pockets of pain around the US, but it's not as if most Americans are losing their homes. More than 99% of homes aren't in foreclosure.
A recent list of year-end mortgage foreclosure rates in 100 top metropolitan areas drew a lot of attention. Released by RealtyTrac, a company that compiles data on home foreclosures, the list showed the number of foreclosure filings in each metro area, the percentage of homes being foreclosed and the percentage change from the previous year.
Housing's worst-case scenario
Although some forecasters say a catastrophic, 40% plunge in home prices from their peak is possible, a more likely scenario is a decline of 20-25% before a recovery starts to kick in.
U.S. News & World Report
That's right. In Moody's most pessimistic (and most unlikely) scenario, existing-home prices plummet by 40% from their peak. A drop like that would certainly plunge the economy into a deep recession, push unemployment to around 9% and hamstring economic growth in a way that could take years to undo. The shock of falling home prices and tight credit markets would spill into everything from consumer spending to business investment.
HUD helps in slo county
The housing slump is hitting California in a big way. But for some, slow sales and rock-bottom prices equal the perfect time to buy.
January saw the lowest number of home sales in California since 1988. The median price of a home also fell, down just over 17 percent from January 2007.
It was a dream come true for a family of three Friday as they moved into their brand new townhouse.
Purchase of SLO auto dealer closes
Rancho Grande Motors is acquired by owner of local Cadillac, Saab business
The sale of San Luis Obispo’s Rancho Grande Motors is final, said former owner Dean Haupt on Thursday.
Bernanke Readiness to Cut Rates Stokes Price Concerns
Federal Reserve Chairman Ben S. Bernanke's readiness to cut interest rates to avert a recession is stoking concerns that prices will get out of hand.
``Bernanke has really overweighted the economic risks relative to inflation,'' said John Silvia, chief economist at Wachovia Corp. in Charlotte, North Carolina, following the Fed chief's testimony to Congress yesterday. ``He may get some disagreement'' among colleagues on the Federal Open Market Committee, Silvia said.
Voting numbers in SLO County beat state averages
County voters turned out in greater numbers than the statewide average, and absentee voters outnumbered those who went to a polling place, according to a report released Wednesday by county Clerk-Recorder Julie Rodewald.
In her official canvass for the Feb. 27 primary election, Rodewald reported that the voter turnout for San Luis Obispo County was 63.54 percent. The statewide turnout is currently at 53 percent, although that will rise as other counties complete their canvasses, she said.
Bush: U.S. is not headed for recession
WASHINGTON - President Bush said Thursday the country is not recession-bound and, despite expressing concern about slowing economic growth, rejected for now any additional stimulus efforts. "We acted robustly," he said.
"We'll see the effects of this pro-growth package," Bush told reporters at a White House news conference, acknowledging that some lawmakers already are talking about a second stimulus package. "Why don't we let stimulus package 1, which seemed like a good idea at the time, have a chance to kick in?"
