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Tag Archives: housing

House panel’s bill would end foreclosure program

WASHINGTON — A House committee plans to write legislation next week ending the Obama administration’s flagship effort for helping struggling homeowners avoid foreclosure and abolishing three other housing assistance programs. At its meeting next Thursday, the highest-profile target of the ...

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Foreclosures, cash deals lifted January home sales

WASHINGTON — More people bought previously occupied homes in January. But sales surged on a rising number of foreclosures and all-cash deals, and not first-time home-buyers. The rising number of distressed sales forced home prices down to their lowest level ...

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Daily Record investigation: Wrecking buildings or lives in Middle East?

Did they have to destroy the community to save it? Most of The New East Baltimore’s 88 acres remain undeveloped, with only 37 percent of the rental and for-sale homes planned for the first phase actually built. East Baltimore Development ...

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Daily Record investigation: The muddled money trail

East Baltimore Development Inc. has spent $6.4 million per acre since 2002 to revitalize a largely vacant chunk of inner city bounded on three sides by slum and blight. The money has gone to buy homes, demolish buildings, relocate residents ...

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Deed in lieu of foreclosure signed at closing is void

Maryland’s top court has ruled that lenders cannot execute a deed in lieu of foreclosure as a condition of approving the loan before the borrower has defaulted on the mortgage. In an opinion on Friday, the Court of Appeals vacated ...

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New-home sales in 2010 fall to lowest in 47 years

WASHINGTON — Buyers purchased the fewest number of new homes last year on records going back 47 years. Sales for all of 2010 totaled 321,000, a drop of 14.4 percent from the 375,000 homes sold in 2009, the Commerce Department ...

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Falling home prices are battering previously safe cities

A second wave of falling home prices is battering some cities that had escaped the worst of the housing market bust. Prices in Seattle, Charlotte, N.C., and Portland, Ore., have hit their lowest points since peaking in 2006 and 2007. ...

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