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Obama Administration OKs $1.5bn Hardest-Hit Mortgage Relief Fund Plans

June 23, 2010 Leave a comment Go to comments
Obama Administration OKs $1.5bn Hardest-Hit Mortgage Relief Fund Plans – The Obama Administration signed off on plans to use $1.5 billion in foreclosure-prevention funding for states hardest-hit by home price declines.  The states may now begin to use the federal funds to facilitate borrower aid programs.  The aid supports local initiatives to aid underwater mortgage borrowers in Arizona, California, Florida, Michigan and Nevada.  Arizona will receive $125.1m to pursue principal and interest rate reduction and term extension programs.  The funds will also be used to aid the elimination of second liens where they prevent modification of first liens.  Read full article:
http://www.housingwire.com/2010/06/23/obama-administration-oks-1-5bn-hardest-hit-mortgage-relief-fund-plans

Existing home sales up in Western US 
http://phoenix.bizjournals.com/phoenix/stories/2010/06/21/daily15.html
 
Home Price Index up by 2.6%
http://www.azcentral.com/business/realestate/articles/2010/06/22/20100622biz-homepriceindex0622.html
 

Billionaire Buys Tempe Gateway Building 
http://www.myfoxphoenix.com/dpp/news/business/paul-allen-tempe-gateway-6-22-2010

For more Information on Buying and Selling Homes in Arizona go to:

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