Posts from — March 2009

MakingHomeAffordable.gov is a new website which was launched on March 19^th by the Obama Administration. 

The idea of the website is to help the average consumer determine if they can qualify for a loan modification or refinancing.  The site offers tools and calculators to help borrowers determine if they are eligible for different types of loan modification programs. 

Some additional features include: detailed information about this government program, self assessment tools, a mortgage calculator, resources to find free counseling, and a checklist of required documents. 

Jim Gillespie, CEO of Coldwell Banker Real Estate LLC, participated in an open panel discussion on CNBC last Friday which aired live from the New York Stock Exchange. 

The segment, which the network labeled “The Road to Rebound”, discussed the condition of the Housing Market in today’s shaky economy.

In the discussion, Mr. Gillespie encouraged government leaders to put a $15,000 non-refundable tax credit to all home buyers.  He also called for a mortgage buy down that would reduce rates to the 4 – 4.5% range.  The National Association of Realtors reports that this sort of stimulus would generate an additional $840,000 in home sales in a 12 month period.