The White House released a raft of evidence touting California’s housing recovery due to policies adopted since Obama took office in 2009, including: • As of May, 369,000 homeowners had refinanced their mortgages at lower rates through a program aimed at preventing foreclosures. • As of June, 294,000 homeowners had modified or were modifying the…
Underwater borrowers, distressed sales still linger in regions The housing market shifted to recovery mode this past year, with home prices on the rise and foreclosures falling closer to pre-crisis levels, RealtyTrac claims in a new report. More than 75 of the largest metropolitan areas across the nation posted a housing recovery index of more…