Another Loan Modification Plan on the Way

Daily Real Estate News  |  November 12, 2008  |  

The Bush Administration announced a plan Tuesday that would use part of the government’s $700 billion in bailout money to encourage loan modifications so that borrowers would receive more affordable loans that requires less than 38 percent of their income to pay.

To qualify, borrowers must live in their homes, not be in bankruptcy proceedings, and owe at least 90 percent of the value of their home.

Fannie Mae and Freddie Mac would administer the program.

Critics say that the plan won’t work. FDIC Chairman Sheila Bair said it “falls short of what is needed to achieve wide scale modifications of distressed mortgages.”

Source: The Wall Street Journal, Damian Paletta, Jessica Holzer and Ruth Simon (11/12/08)

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170 Quarterline Rd. Clarendon

$375,000

170 Quarterline Rd Clarendon, VT 05759

4 bedroom - 3 bath
3,288 sq. ft.

MLS# 2811622

Estimated property tax: $5,200

Estimated

Payment: $1,847.15 Per Month*

DESCRIPTION

Spacious log home w.24×24 cathedral ceiling great room w/birck hearth & Jotul wood stove.Includes living,kitchen,&dining area w/ pantry.Step down hall to the formal dining room.Master bdrm includes sitting area w/brick hearth w.propane stove.# addtl.bdrms and 3 full bths.New furnace.Outside boasts 24×15ft. gazebo surrounded by perennials,large pond,36×24ft. 3 bay garage,and garden shed.Seller is licensed real estate agent.

For More Information Contact Vanessa Merrill at 802-236-4802 or email van21vt@aol.com or Visit My website

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Blog Probes Real Estate Models

www.REALonomics.net is a blog that is asking serious questions about where the real estate industry is going. More specifically, REALonomics poses challenges to the broker/owners to adopt models that will allow their organizations to become more transparent.

REALonomics.net advocates that the industry open up the property information portals to consumers and upgrade its approach to how it is interacting with the consumer by implementing more social networking such as www.CityBlogUSA.com, a community blogging network for every city in the USA.

Visit www.REALonomics.net.

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Condos in Town?

Are there any condo projects in Rutland, Vermont and are there any that are on golf courses? What is the condo price range? Are there any age restricted condo communities?

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Real Estate Companies

Rutland has a lot of real estate companies. Which one is considered the best company according the Rutland, Vermont residents? Who are the best real estate agents in Rutland, Vermont? Historically, which company has been there the longest? Do any of the real estate companies also have title and mortgage companies?

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Foreclosures in Town?

Can anyone speak to the issue of foreclosures in Rutland, Vermont? Foreclosures are up around the country due to the sub-prime lending practices. Is there any foreclosure impact on real estate in Rutland?

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