Tumblelog by Soup.io
Newer posts are loading.
You are at the newest post.
Click here to check if anything new just came in.

Obama Pays Respects At French Embassy After Paris Attack - Abc News

Obama is sending the wrong message on owning a home - Yahoo News

The Obama administration says the FHA program is following prudent lending standards developed after the 2008 crisis. Insurance premiums will still be 0.85 percent of read more the loan value per year, substantially higher than the pre-crisis norms of about 0.55 percent. The White House projects that 800,000 borrowers will be able to take advantage of the lower premiums within a year, and that its new policy will nudge many families off the sidelines and into the home-buying market. Since 2008, the housing market has gradually recovered. But many younger households, in particular, have remained in the rental market or have doubled up with parents rather than trying to buy homes. A key factor is affordability, so anything that cuts the cost of mortgages might help promote a long-expected revival of the first-time buyer.
Source: http://news.yahoo.com/obama-cutting-mortgage-fees-fha-borrowers-good-news-202947262.html

View photo President Barack Obama gestures as he speaks at Central High School, Thursday, Jan. 8, 2015, in Phoenix, about the recovering housing sector. (AP Photo/Carolyn Kaster) WASHINGTON (Reuters) - President Barack Obama said on Thursday he would offer a proposal in his State of the Union speech that would make two years of community college free for anyone willing to work for it. Obama said in a video message released by the White House that in a visit to Tennessee on Friday he would announce the program to make community college accessible for everyone. Under the proposal, students who attend at least half-time, maintain a 2.5 GPA while in college, and make steady progress toward completing their programs would have their tuition eliminated. The White House said the program would be taken in partnership with states and was inspired by new programs in Tennessee and Chicago.
Source: http://news.yahoo.com/obama-proposes-two-years-free-community-college-235032113.html

Obama cutting mortgage fees for FHA borrowers: Good news for housing market? - Yahoo News

Behind him hung a painting of George Washington at Yorktown with French Gen. Jean-Baptiste Donatien de Vimeur, better known as Count Rochambeau. "As allies across the centuries, we stand united with our French brothers to ensure that justice is done and our way of life is defended," Obama wrote. "We go forward together knowing that terror is no match for freedom and ideals we stand for ? ideals that light the world." He signed off with "Vive la France !" Afterward, Obama stood briefly near the table with his head bowed in a moment of silence before shaking hands with embassy personnel. Obama has denounced the "cowardly, evil attacks" that took place Wednesday at the offices of the satirical newspaper Charlie Hebdo.
Source: http://abcnews.go.com/Politics/wireStory/obama-pays-respects-french-embassy-paris-attack-28098461

Obama to Ease Mortgage Rules for 800,000 Low-Income Households - Yahoo News

When a buyer cannot qualify for an affordable mortgage because a bank is concerned about their ability to repay the loan, the FHA can step in and offer a guarantee to the bank that it will bear some or all of the losses in the event of a default The price is a guarantee fee, which is typically paid by the borrower in the form of a higher monthly mortgage payment. Related: White House Rolls Out State of the Union Spoilers The presidents order would knock the guarantee fee down by half a percentage point. The move wont cause a major shift in the housing market, but it will allow many buyers who are currently right on the margin in terms of being able to afford a home, to get the loans they need. In a post on Medium yesterday, White House Senior Adviser Dan Pfeiffer said the move was necessary because homeownership is out of reach for too many Americans families who can afford to buy a home, but find themselves shut out because the lending market is too tight. Thats why the President will announce a new executive action that will help more responsible Americans own a home, building on efforts already underway to cut red tape that holds them back. However, combined with a recent move by Fannie Mae and Freddie Mac to allow first-time buyers to purchase their homes with as little as 3 percent down, the changes to FHA loans have some critics warning that weve been down this road before. Related: What Chickens and Gold Have in Common: Lower Prices Given the current state of the economy, there is no reasonable argument for the need to support housing to boost the economy, said economist Charles Calomiris, an adjunct fellow at the Manhattan Institute. Unemployment has fallen and GDP is growing rapidly.
Source: http://news.yahoo.com/obama-ease-mortgage-rules-800-181200498.html

Obama proposes two years of free community college - Yahoo News

The FHA move comes on top of other measures meant to make home ownership easier for middle- and low-income borrowers, such as recent moves by Fannie Mae and Freddie Mac to allow lower down payments for some borrowers and to ease standards for lenders , which ought to make mortgages easier to get. The housing recovery has been a notable weak spot in an otherwise improving economy, with home values still about 10% below peak values from 2006. Tough lending standards, meanwhile, have kept many potential buyers on the sidelines. The cut in FHA insurance costs, Obama said at a speech in Arizona , should help further accelerate growth in the housing market and stabilize prices. Theres a big problem, however: Owning a home these days may be a much bigger impediment to career success than it ever was in the past. Yet politicians and their allies in the real-estate business are still preaching the old gospel about home ownership, as if its the same path to prosperity it always was. It isnt, and anybody considering buying a home needs to think doubly hard about the liabilities that come with such a big commitment, as well as the benefits.
Source: http://news.yahoo.com/obama-is-sending-the-wrong-message-on-owning-a-home-190228471.html

Don't be the product, buy the product!