EHLP fund breakdown. Graphic via The Washington Post from Dept of Housing and Urban Development
"HUD to give one billion dollars to struggling homeowners"
from The Washington Post.
The Emergency Homeowner's Loan Program (EHLP) has recently been launched to help homeowners that are still struggling with loan payments. Apply now if you need help as the money has to be spent by Sept. 30th, 2011.
"Local Title Insurers Stop Insuring Foreclosures"
via Urban Turf.
This has been brewing for several months but it's still shocking. This is going to have a huge impact on foreclosure sales in DC. Currently, the number of foreclosures in DC is at an all-time low. DC Gov recently based a bill that requires lenders to mediate with homeowners facing foreclosure. This has effectively halted foreclosures in DC. Yep..that means in a couple of months, foreclosures will be flooding the market. Consumers and realtors are following this issue closely.