WASHINGTON- The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury has released the December edition of the Obama Administration's Housing Scorecard – a comprehensive report on the nation’s housing market. Data in the December Housing Scorecard show some subtle improvements in the market over the past year, but underscore fragility as the overall outlook remains mixed. For example, new and existing home sales rose compared to the prior month and remain higher than a year ago, and homes are more affordable than they have been since 1971. Median-income families today have nearly double the funds needed to cover the cost of the average home. However, home prices showed a slight dip from the prior month and remain below year ago levels. The full report is available online at www.hud.gov/scorecard.
HUD Assistant Secretary Raphael Bostic said, “As we compare today’s data to market data from last year – and certainly from the economic conditions when we took office in 2009 – it’s clear that we’ve made important progress in recovering from this housing crisis. But with so many homeowners still struggling to pay their mortgages or move into more sustainable loans, we can not rest on our laurels. There is still a lot of work to do. That’s why the Obama Administration continues to push hard for effective implementation of our recovery programs to help more underwater borrowers and unemployed or underemployed homeowners stay in their homes whenever possible.”More on Obama Administration Releases December Housing Scorecard
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HUD UNVEILS NEW WEB-BASED MAPPING TOOL TO DISPLAY NEARLY HALF OF U.S. FORECLOSED PROPERTIES
New portal will help communities target NSP Funds to stabilize hard-hit neighborhoods
WASHINGTON – The U.S. Department of Housing and Urban Development today launched a new web-based mapping tool displaying the location of all foreclosed properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). These foreclosed homes collectively account for nearly half of all real estate-owned or REO properties in the U.S. HUD’s REO Portal is intended to help local communities, homebuyers and responsible investors to acquire these properties and accelerate efforts to stabilize local housing markets.
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FHFA, TREASURY, HUD SEEK INPUT ON DISPOSITION OF REAL ESTATE OWNED PROPERTIES
Range of Ideas Sought, Including Transition to Rental
Washington, DC — The Federal Housing Finance Agency (FHFA), in consultation with the U.S. Department of the Treasury and Department of Housing and Urban Development (HUD), has announced a Request For Information (RFI), seeking input on new options for selling single-family real estate owned (REO) properties held by Fannie Mae and Freddie Mac (the Enterprises), and the Federal Housing Administration (FHA).
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