Senator unveils plan to refi 8 million underwater borrowers

Home prices rise 0.3% in August, up 5.6% since January Housing starts fall 5.8%, disappointing analyst estimates housing starts fell unexpectedly last month. The Census report gives the details: Privately-owned housing starts in October were at a seasonally adjusted annual rate of 529,000. This is 10.6.HOME PRICES UP 1.5% IN AUGUST In August, the Teranet-National Bank National Composite House Price Index was up 1.5% from the previous month, the third-largest August rise since the Index series began in 1999. However, the advance was not very broad-based; prices were up in seven of the 11 metropolitan markets surveyed.High-risk FHA loans push mortgage risk index up in May Recent mortgage loans would not perform well under stress, despite the common perception that mortgage credit is tight, with only the highest-quality borrowers able to get a loan.

Jeff Merkley's HOLC-Type Plan for Underwater Borrowers. – But Senator Jeff Merkley is out with a plan that should have been adopted years ago.. this again goes after the 8 million or so underwater homes that are current, where borrowers are making the.

Secretary of Housing and Urban Development Shawn Donovan testified before a hearing of the Senate. how underwater and above water loans are treated. Johnson noted that the administration’s housing.

Hispanic households grow, accounting for more than half of new homeowners The Economic State of the Latino Community in America More than 55 million people of Hispanic or Latino ethnicity live in the United States, comprising 17 percent of the country’s total population.1 Hispanics are the nation’s largest ethnic group and their share of the U.S. population is expected to grow.

But one aspect of the bill in particular caught us by surprise: Senator Warren would charge borrowers a hidden fee to help "pay for" the plan. Borrowers who refinance will be charged a fee up to 0.5 percent of their loan balances. Keeping with common practice for federal student loans, the fee won’t be due at origination.

The Federal Housing Finance Agency launched HARP in 2009 and has facilitated refinancing for more than 1 million underwater borrowers, according to Senate testimony last month by Edward DeMarco.

The ranks of underwater borrowers nationwide. plugged a package of Senate bills that would expand opportunities for troubled borrowers to save money by refinancing their mortgages into lower.

Oregon Senator Proposes Refi Plan Funded with Bond Sales. and 2.0 " it has reached just 1.3 million homeowners since its debut in 2009, according to ""data from the Federal Housing.

Under the proposal, borrowers with standard non-GSE, non-FHA loans will have access to refinancing through a new program run through the FHA. For these responsible borrowers, there will be no more barriers and no more excuses. Key components of this plan include: Providing non-GSE, non-FHA Borrowers Access to Simple, Low-Cost Refinancing:

U.S. Senate Democrats plan fresh push to ease home refinancing. More than 1.8 million borrowers have already won new loans through the Obama administration’s Home Affordable Refinance Program.

"If you’re ineligible for refinancing just because you’re underwater on your mortgage, through no fault of your own, this plan changes that. That set of rules, aimed at protecting borrowers, would.

Elizabeth Warren Unveils Ambitious student debt relief plan – Elizabeth Warren Unveils Ambitious Student Debt Relief Plan.. she described as "truly transformational," Warren said she would seek to cancel up to $50,000 per person for 42 million borrowers. The plan would provide an economic stimulus for the middle class and help reduce inequalities.

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Tossing a Lifeline to Underwater Homeowners Proposed Federal Program Can Help Private Borrowers Refinance.. Griffith is a Policy Analyst with the Housing team at the Center for American Progress.