Obama’s New Housing Plan Explained

Here we go again. Obama is giving distressed homeowners billions. Will his housing plan work this time?

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Obama’s new housing plan for  foreclosure relief: Can it be explained?

We found a very good article from MSNBC that really gets down to the bare bones of what this new government program designed to save distressed homeowners is all about.

We know the program is supposed to help those in pre-foreclosure who have lost their jobs.  Problem is it only can help them for a few months.  Then they’re back where they were before- facing foreclosure.

This really sums  the mess up: “We have to do a real reality check,” said David Berenbaum, chief program officer at the NCRC. “Until we address the underlying problems with this paper — who holds it, how it was originated, how people are accountable and how we can correct this epidemic of foreclosures — our communities’ tax base, as well as the economic climate of the nation, is at risk.”

I might add, “Amen”.

Read Latest Housing Plan Likely To Help Just a Few by John W. Schoen

Here’s the spin from the White House Blog, which I personally don’t agree with, but I thought you might want to read it anyway.
9 million + | The White House

The housing plan President Obama unveiled today could directly help up to 9 million people — but indirectly, it will help all of us. “In the end, all of us are paying a price for this home mortgage crisis. …

But The Market Ticker has a much stronger criticism.Housing: Obama Still Has Not Grown Up – The Market Ticker

Housing: Obama Still Has Not Grown Up · The misdirection and outright BS simply refuses to stop: March 25 (Bloomberg) — The Obama administration plans to announce programs to help homeowners avoid foreclosure, including subsidies for …

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Short Sales: Will Obama’s New Incentive Program Help Investors?

Short Sales just got a small incentive from the government. Or at least that is what we’re being led to believe. Will this new treasury program really help speed short sales up? Exactly what is all this about anyway?

Short Sales just got a small incentive from the government. Or at least that is what we’re being led to believe. Will this new treasury program really help speed short sales up?

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Exactly how will it affect real estate investors? Will housing inventories move faster? How are we supposed to believe banks will actually go along

Here are some very strong opinions from around the net.

New Treasury Program to Encourage Short Sales | Ryan and Schwarz LLP

Up to now, the Obama administration has had a pretty clear goal of doing whatever it could to keep struggling homeowners in their houses. Today, however, the.

Housing: More Short Sales Coming? | www.bullfax.com

John Lounsbury submits:David Streitfeld has an interesting article this morning in The New York Times discussing the outlook for an increase in the number of housing short sales and government efforts to facilitate these. …

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Great Article About Short Sales in New York Times by David …

I have done a number of short sales and I do believe we will have a lot of them over the next few years but my experience has been good, it takes patience and time but all of mine has worked out well for both sellers and buyers. …

Foreclosure.com Blog · The $1500 short sale incentive for sellers

The U.S. Department of the Treasury will soon offer lenders and distressed homeowners $1000 and $1500, respectively, motivating all parties to consummate short sale deals and, in the process, stem the foreclosure tide, according to the …

Will Short Sales Help the Housing Market – The Curious Capitalist …

I was taken aback this morning when I read in the New York Times that there is a new federal program that will look to put many thousands of mortgages-gone-bad back to the banks through a short-sale process.

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Dr. Housing Bubble Talks About Foreclosures

Dr. Housing Bubble is at it again. This time he is reporting on Washington’s halt of foreclosures.

Dr. Housing Bubble, the blogger who correctly predicted the current housing crisis, has a detailed report in which he compares the national housing crisis to what Southern California has been going through. 

He point out “lenders have backed off on forced evictions, allowing many to remain in their homes, essentially rent-free.”

He thinks the government is putting pressure on the banks not to foreclose and to modify loans.  He says  this hurts everyone who is paying their mortgages. 

Could he be right? 

One point we have always made is that real estate is local, not national.  However, with Washington getting more and more involved that could possibly be  changing the local landscapes concerning the banks.

Read more of Dr. Housing Bubble’s shocking analysis. 

Roth IRA: They’re Still Very Popular

Are you being advised to transfer your traditional IRA into a Roth? Can you invest it in real estate?

Do you have a Roth IRA?  If your IRA is a traditional one, are you being advised to transfer to a Roth?

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What about a 401K?  Can you use that for  investing in real estate?

One of the biggest advantages for a Roth is that the taxes have already been paid.

(Always seek professional advice before you make a move, but these articles show some of the possibilities.)

Distribution Rules for the Inherited Roth IRA – Financial Web

The estate tax applies to all inheritance, including any funds inherited in a Roth IRA. Roth IRA’s are not exempt from taxes, but there is one reason why they may be preferable to traditional IRA’s in terms of taxes owed upon …

Real Estate Investing With Your IRA | Life & Money | Minyanville.com

Low-risk opportunities abound, you just have to know where to look.

How To Benefit From 401 And Real Estate Investing | Viva Blog !

Another option for using 401K and real estate investing together is to put the money into an IRA, or individual retirement account. Sometimes this is not allowed, but it if is allowed, you have more flexibility on what you can do with …

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