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Obama To Forgive Mortgage Debt For Those Underwater Posted: 05 Aug 2010 11:20 AM PDT A rumor is circulating around Washington that the Obama administration is planning on ordering Fannie Mae and Freddie Mac to forgive all of the debt of underwater mortgages. If this is the case appraisers are going to be working overtime trying to determine the depth of debt people are in and how the estimated 800 billion dollars will be dispersed to the 15 million homeowners who are upside down on their mortgages.
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Putle Homes Showed Profit in Second Quarter Posted: 05 Aug 2010 06:03 AM PDT The tax incentive has shown a short term victory for Pulte Homes. They were profitable in the second quarter of 2010. That is the first profitable quarter in the past 3 years.
That was the good news. The bad news is that the tax credit pulled demand forward significantly. The combined Centex – Pulte Homes new home orders is way down going forward. New home orders is the industry indicator for future demand and that looks pretty scary.
It will be interesting to see if the surge in home sales from the tax credit is going to be enough to make the company profitable for the whole year, or will the lack of demand going forward still lead the company into the red? Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published. Putle Homes Showed Profit in Second Quarter Related posts:
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