Homeowners

12.6 percent increase in home sales within 2009 due to federal tax credit; Calls for extension of federal tax credit to ensure home sales continue to rise

9 October 2009 -- Cherry Hill, NJ - Congressman John Adler (NJ-03), a member of the House Financial Services Committee, today released a report highlighting how the first-time homebuyer tax credit has helped stabilize New Jersey and Pennsylvania's housing market. Joined by the New Jersey Association of REALTORS®, Congressman Adler called for an extension of the federal program.    » read more »

62,989 Home Affordable Modifications done under U.S. program through Sept. 30; total of 354,994 trial and completed modifications done in 2009

DES MOINES, Iowa — October 8, 2009 -- Wells Fargo & Company (NYSE:WFC) said today that it has done 62,989 trial and completed Home Affordable Modifications through Sept. 30; nearly double what the U.S. Treasury reported last month. Also, using its own programs, Wells Fargo has done 292,005 trial and completed home loan modifications.

This brings the total number of modifications Wells Fargo has done this year to 354,994; a 25 percent increase over last month. In addition, the company has refinanced about 987,000 mortgage loans, thereby assisting more than 1.3 million households this year with mortgage payment relief.    » read more »

10/08/09 -- U.S. Rep. Nick Rahall (W.Va.) is working to pass the Home Buyer Tax Credit Act of 2009 (H.R. 1245) which aims to stimulate the economy by saving new homeowners money and helping increase home sales in local communities by providing tax credits to new homebuyers.

“Growing home buying grows the economy. This legislation is a no brainer. The fastest avenue out of this tough economy is homebuilding and home buying,” said Rahall. “Before the recession, building new homes accounted for 16% of our gross national product and with some 3000 components in a new home most sectors of our economy benefit every time a home is built and sold. Congress can't act fast enough on this one for me.”    » read more »

October 6, 2009 -- Washington, D.C. -- Fourth District U.S. Rep. Lincoln Davis is reminding constituents of multiple tax breaks that are available for the purchase of new automobiles, parents and students paying for college, home energy efficiency, and first-time homebuyers. These tax breaks, made available in the Recovery and Reinvestment Act, have expiration dates. Taxpayers should take advantage of them before they expire.

From the Internal Revenue Service:

New Vehicle Purchase Incentive:    » read more »

10/06/2009 -- California Governor Arnold Schwarzenegger today announced the awarding of more than $68 million in American Recovery and Reinvestment Act (Recovery Act) weatherization funding to non-profit, local government and community action agencies throughout the state.    » read more »

More than 110,000 New Jersey homes have received energy efficient improvements - Nearly 6,000 Garden State businesses have benefited from energy efficiency support since 2006

October 5, 2009 -- NEW BRUNSWICK - New Jersey Governor Jon S. Corzine today announced that solar energy installations in New Jersey increased ten-fold since 2006. The state now has 100 megawatts (MW) of solar energy installed, which is enough to supply the electricity needs for more than 15,000 New Jersey homes.

As a result, New Jersey now has the most solar installations in the country per square mile, surpassing California by nearly two to one. The Governor made the announcement during the second annual Northeast and Mid-Atlantic Governors' (NEMAG) Clean Energy Innovation Forum.    » read more »

HB 232 is part of broad statewide effort to combat foreclosure and foreclosure-related fraud

October 05, 2009 -- WILMINGTON – Delaware Governor Markell signed legislation into law today clarifying protections of homeowners in foreclosure. House Bill 232 clarifies that companies that offer to negotiate modifications of secured debt, such as a mortgage, on behalf of consumers are subject to the provisions of the Mortgage Rescue Fraud Protection Act, which prevents companies from charging homeowners who are in foreclosure thousands of dollars in up-front fees to negotiate with loan servicers or lenders.    » read more »

September 30, 2009 -- WASHINGTON, DC – In an effort to curb record-high foreclosure rates across the country and stabilize the housing market, U.S. Senator Jack Reed today introduced legislation that will help keep families in their homes and prevent communities from deteriorating as a result of skyrocketing mortgage defaults.    » read more »

Amid Foreclosure Crisis, Local Prosecutors Lack the Resources, Manpower to Fight New Wave of Mortgage Scams

September 29, 2009 -- WASHINGTON, DC—U.S. Senators Charles E. Schumer (D-NY) and Jon Kyl (R-AZ) announced new legislation Tuesday to better protect homeowners from the recent wave of mortgage scams by providing up to $200 million over two years for State and local prosecutors offices to battle real estate fraud. The bill authorizes the Justice Department to award competitive grants to prosecutors’ offices that seek to hire specialized staff—including investigators, forensic accountants, and attorneys—to combat such scams.    » read more »

Brown Points to Rising Occurrence in Ohio of Lenders Refusing to Take Possession of Foreclosed Homes, Leading to Vandalism, Neighborhood Decline

September 30, 2009 -- WASHINGTON, D.C. – A growing number of lenders are refusing to take possession of homes after they have been foreclosed, leading to vandalism and neighborhood decline in Cleveland and cities across Ohio. In response to this alarming trend, U.S. Senator Sherrod Brown (D-OH) called for a federal investigation of so-called “bank walkaways.”    » read more »

$9.5 Million Will Help Communities Reduce Utility Bills

September 15, 2009 -- PHOENIX – Arizona Governor Jan Brewer today announced the first commitment of funds associated with Arizona’s Energy Efficiency and Conservation Block Grant (EECBG) Program under the American Recovery and Reinvestment Act (ARRA) of 2009 for rural Arizona.

More than $9.5 million will be available to five Arizona counties and 68 communities, with a population of 35,000 or less, to develop and implement projects aimed at improving energy efficiency and reducing energy use in their communities.    » read more »

Save Households $283 Annually In Ten Years

Washington, D.C. -- September, 2009 -- Energy efficiency provisions in the American Clean Energy Security Act (ACES — H.R. 2454) with improvements could create more than 569,000 new jobs nationwide in the next ten years and provide $283 in annual savings for every household in America, according to a new study released today by the American Council for an Energy-Efficient Economy (ACEEE).

By 2030, these benefits could increase to more than one million jobs and $832 in annual savings per household — all while reducing government-projected levels of nationwide carbon emissions by 15 percent, or 959 million metric tons.    » read more »

August 24, 2009 -- ANCHORAGE, AK—United States Attorney Karen L. Loeffler announced that on August 21, 2009, lead defendant Lance Lockard was sentenced to 70 months in prison for his leadership of a large-scale mortgage fraud scheme.    » read more »

Funds will create or retain nearly 1,000 affordable housing units, support construction jobs

August 28, 2009 -- DES MOINES – Iowa Governor Chet Culver today announced nearly $75 million in funding to 16 affordable housing projects that aid in the preservation or construction of nearly 1,000 housing units throughout the state. The awards were made through a combination of the Culver/Judge I-JOBS initiative, the federal American Recovery & Reinvestment Act (ARRA) and the Iowa Housing Tax Credit Program.    » read more »

Seniors, People with Disabilities Can Apply Early for LIHEAP

CHICAGO – August 31, 2009. Illinois Governor Pat Quinn today urged seniors and people with disabilities to take advantage of tomorrow’s early application date for winter heating assistance through the Low Income Home Energy Assistance Program (LIHEAP).

“Seniors and individuals with disabilities are especially vulnerable to the cold weather,” said Governor Quinn. “I encourage people to apply for assistance through LIHEAP so that they can stay safe, warm and healthy this winter.”    » read more »