For those of you who are not aware President Barack Obama signed a short-term funding extension on Saturday hours after Democrats and Republicans narrowly averted a partial shutdown of the federal government by agreeing on the measure and a budget deal.
The new funding extension, which cuts spending by $2 billion, will last through next Friday, April 15.
The Senate immediately passed the extension on a voice vote. The House of Representatives followed suit early Saturday morning.
Negotiators capped days of frantic closed-door talks and public recriminations by agreeing on a framework for a package of $38.5 billion in spending cuts covering the rest of the fiscal year, which expires September 30. The budget deal still needs to pass in both houses, with the expectation that lawmakers will approve it and the president will sign it before the short-term funding measure expires.
The House is scheduled to begin considering that budget deal on Monday, with a vote slated for Wednesday. The Senate would take up the bill at some point after that, said spokesman Jon Summers of Senate Majority Leader Harry Reid's office.
At this time it is business as usual!
Apr 11, 2011
Apr 8, 2011
HUD Homes, FORECLOSURES, and SHORT SALES 04/01/2011 - 04/08/2011
Best Deals of the week for Prescott & Verde Valley Areas
Click on the link below for the latest in Foreclosure and Short Sales listed in the past week:
Prescott Area HUD Homes 4/1/2011 – 4/8/2011
Prescott Area Site Built Homes Foreclosure Listings 4/1/2011 – 4/8/2011
Prescott Area Manufactured Homes Foreclosure Listings 4/1/2011 – 4/8/2011
Prescott Area Short Sale Listings 4/1/2011 – 4/8/2011
Verde Valley Area Site Built Homes Foreclosure Listings 4/1/2011 – 4/8/2011
Verde Valley Area Manufactured Homes Foreclosure Listings 4/1/2011 – 4/8/2011
Verde Valley Area Short Sale Listings 4/1/2011 – 4/8/2011
Call us if you would like to view any of these amazing deals!!
Stephanie Woods, Realtor
The Stephanie Woods Team
Keller Williams Check Realty
(928) 237-4455
Stephwd@msn.com
Our team has Certified Short Sale agents available if you or someone you know could use assistance. Feel free to call us. We can also offer you a no cost 30 minute legal consultation to evaluate your situation.
Stephanie Woods
928-308-8565
Click on the link below for the latest in Foreclosure and Short Sales listed in the past week:
Prescott Area HUD Homes 4/1/2011 – 4/8/2011
Prescott Area Site Built Homes Foreclosure Listings 4/1/2011 – 4/8/2011
Prescott Area Manufactured Homes Foreclosure Listings 4/1/2011 – 4/8/2011
Prescott Area Short Sale Listings 4/1/2011 – 4/8/2011
Verde Valley Area Site Built Homes Foreclosure Listings 4/1/2011 – 4/8/2011
Verde Valley Area Manufactured Homes Foreclosure Listings 4/1/2011 – 4/8/2011
Verde Valley Area Short Sale Listings 4/1/2011 – 4/8/2011
Call us if you would like to view any of these amazing deals!!
Stephanie Woods, Realtor
The Stephanie Woods Team
Keller Williams Check Realty
(928) 237-4455
Stephwd@msn.com
Our team has Certified Short Sale agents available if you or someone you know could use assistance. Feel free to call us. We can also offer you a no cost 30 minute legal consultation to evaluate your situation.
Stephanie Woods
928-308-8565
HUD chief warns of housing fallout from shutdown
Shaun Donovan, secretary of the Department of Housing and Urban Development, told a Senate subcommittee that the Federal Housing Administration could not endorse more loans during a shutdown, adding that this might induce a loss of confidence in the lending community.
“This is the worst time that we could introduce that uncertainty into this fragile housing market,” Donovan said.
The FHA, part of Donovan’s department, oversees mortgage insurance on loans provided by agency-approved lenders. The insurance provides lenders with protection if homeowners default on their loans.
FHA-backed loans are frequently used by first-time homeowners who meet required criteria, Donovan said. The agency backed about 40% of loans used for home purchases in 2010, he said.
Donovan said there is a substantial risk in a shutdown that lenders will not fund loans backed by the FHA — especially if it lasts for a long period. Many lenders may decide to not close on the loans, he said.
More broadly, Donovan echoed the administration’s recent refrain, saying he worried a shutdown could imperil the progress the economy has shown in the past few months.
Americans trying to buy or sell homes would be at risk if Congress doesn’t reach a deal by midnight on Friday, Donovan said. A partial shutdown would ensue starting Saturday if Congress can’t agree on a funding package for the federal government.
Macro-level worries
Donovan also said the FHA plans to monitor the housing market closely during the critical spring and summer buying seasons because of fears of a double-dip recession.
“Certainly the data that we’ve seen over the last few weeks have raised concerns about where the market is going,” he said.
There has been a consistent decline in home prices, but there is some information through pending home sales that the pace of sales might start to increase, he said.
Mortgage lenders helping families stay in their homes are critical in avoiding another recession, Donovan said.
It’s also important that the agency improve enforcement capabilities in order to weed out bad lenders, he said.
“This is the worst time that we could introduce that uncertainty into this fragile housing market,” Donovan said.
The FHA, part of Donovan’s department, oversees mortgage insurance on loans provided by agency-approved lenders. The insurance provides lenders with protection if homeowners default on their loans.
FHA-backed loans are frequently used by first-time homeowners who meet required criteria, Donovan said. The agency backed about 40% of loans used for home purchases in 2010, he said.
Donovan said there is a substantial risk in a shutdown that lenders will not fund loans backed by the FHA — especially if it lasts for a long period. Many lenders may decide to not close on the loans, he said.
More broadly, Donovan echoed the administration’s recent refrain, saying he worried a shutdown could imperil the progress the economy has shown in the past few months.
Americans trying to buy or sell homes would be at risk if Congress doesn’t reach a deal by midnight on Friday, Donovan said. A partial shutdown would ensue starting Saturday if Congress can’t agree on a funding package for the federal government.
Macro-level worries
Donovan also said the FHA plans to monitor the housing market closely during the critical spring and summer buying seasons because of fears of a double-dip recession.
“Certainly the data that we’ve seen over the last few weeks have raised concerns about where the market is going,” he said.
There has been a consistent decline in home prices, but there is some information through pending home sales that the pace of sales might start to increase, he said.
Mortgage lenders helping families stay in their homes are critical in avoiding another recession, Donovan said.
It’s also important that the agency improve enforcement capabilities in order to weed out bad lenders, he said.
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