A foreclosed home not only damages the family who lost their homeowner dream, but also directly affects neighborhoods by immediately decreasing their property value by an average of $5,000. Many homeowners who have struggled to make their payments on time have seen their property values decrease through no fault of their own because of the [...]

Washington, March 6, 2012 -- The President's plan to remove cost impediments for borrowers that refinance FHA loans, broadening the accessibility of mortgage relief, is sensible.

Thousands of foreclosures that were stuck in process due to delays over the so-called "Robo-signing" paperwork scandal are working their way through a revamped banking system and heading toward final bank repossession.

Release Time:  For Immediate Release In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last , calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, the President believes that responsible homeowners should not have to sit and wait for the market to hit bottom to get relief when there are measures at hand that can make a meaningful difference. Today, the President is announcing two steps the Administration is taking to support homeowners and their families – providing relief for servicemembers and veterans, including those wrongfully foreclosed upon or denied a lower interest rate on their mortgages, and reducing fees for FHA borrowers looking to refinance. Along with the President’s broader plan to help millions of Americans refinance and save thousands of dollars a year, support the communities hardest-hit by the housing crisis, and help families avoid foreclosure and stay in their homes, this is part of the President’s overall strategy to support responsible homeowners and the housing recovery. Providing Relief for Servicemembers and Veterans: On top of the historic settlement completed by the Federal government and 49 state Attorneys General last month, major servicers will be providing significant relief to thousands of servicemembers and veterans. Under the agreement, they will: • conduct a review of every servicemember foreclosed upon since 2006 and provide any who were wrongly foreclosed upon with compensation equal to a minimum of lost equity, plus interest and $116,785; • refund to servicemembers money lost because they were wrongfully denied the opportunity to reduce their mortgage payments through lower interest rates; • provide relief for servicemembers who are forced to sell their homes for less than the amount they owe on...

Lehman Brothers' bankruptcy is the largest in history, and it's also been the most lucrative one for lawyers and consultants.

NAFCU members should be on the lookout for the March/April issue of The Federal Credit Union magazine, which features strategies to boost mortgage lending, tips on how to leverage new member relationships and a look at challenges and opportunities facing defense credit unions.

U.S. stock index futures pointed to a lower open on Wall Street on Tuesday, ahead of the Super Tuesday primaries in which voters in 10 U.S. states will choose a Republican presidential candidate.