The Obama Administration has outlined plans to assist nearly 4 million homeowners in danger of foreclosure. The total cost to taxpayers runs close to $75 billion.
"People with mortgages as high as $729,750 could qualify for help, and there is no ceiling on how high their income can be as long as they are in danger of losing their homes. Interest rates on loans could go as low as 2 percent for some. Many homeowners could see their mortgage payments drop by several hundred dollars a month, and some could save more than $1,000 a month."
"Administration officials estimate that the plan will help as many as four million people avoid foreclosure, at a cost to taxpayers of about $75 billion. In addition, the Treasury Department said it intended to follow up with a plan to help troubled borrowers with second mortgages, which many homebuyers used as "piggyback" loans to buy houses with no money down."
"The plan is bolder and more expensive than any of the Bush administration's programs, which were based almost entirely on coaxing lenders to voluntarily modify loans. While the number of loan modifications has climbed sharply, the number of foreclosures skyrocketed to 2.2 million at the end of 2008, a record."
FULL STORY: U.S. Sets Big Incentives to Head Off Foreclosures
Housing Prices Low, But Not Affordable
The housing market has bombed, bringing prices and values to devastating lows. But despite lower prices, affordable housing is still in too short of supply, according to this piece from Time.
Nevada Bills Aim to Establish Home Insurance Assurance Amidst Wildfire Risk
Republican sponsor hopes the FAIR plan would be “a true market of last resort.”
Quantifying the Impact of Pandemic Housing Assistance
The massive federal injection of funding into housing programs has had major impacts on many Americans’ ability to stay housed and out of debt, but fears loom as the end of some funding sources nears.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
In Urban Planning, AI Prompting Could be the New Design Thinking
Creativity has long been key to great urban design. What if we see AI as our new creative partner?
Portland Raises Parking Fees to Pay for Street Maintenance
The city is struggling to bridge a massive budget gap at the Bureau of Transportation, which largely depleted its reserves during the Civd-19 pandemic.
Spokane Mayor Introduces Housing Reforms Package
Mayor Lisa Brown’s proposals include deferring or waiving some development fees to encourage more affordable housing development.
Houston Mayor Kills Another Bike Lane
The mayor rejected a proposed bike lane in the Montrose district in keeping with his pledge to maintain car lanes.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Gallatin County Department of Planning & Community Development
Heyer Gruel & Associates PA
JM Goldson LLC
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont