Monday, August 06, 2012

Morning Real Estate Review

Regulator bars Fannie and Freddie from reducing principal on troubled mortgages (Washington Post)  The Federal Housing Finance Agency and the Obama administration say the benefits of the program outweigh the risks, which include intentionally defaulting on mortgages - a position the Post endorses.

Washington Post wrong on principal deduction (Progressive Policy Institute)  The Post's endorsement (see above) of the Administration's policy failed to consider the effects of the new policy, and will cost homeowners and the economy in added defaults.

Obama Administration says underwater mortgages now falling (HousingWire)  Administration says underwater mortgages fell from 12.1m to 11.4m over the last quarter, a 5.8% improvement.

Saving Crystal City (Washington Post) Vornado Realty, owner of half the commercial real estate in Crystal City, is trying to project a new image of the concrete canyon one building at a time.


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