CRACKING THE WHIP ON FORECLOSURES
According to Inman News, Fannie Mae will begin assessing fines on loan servicers who take too long to complete foreclosures, once it has been determined that the delinquent borrower is not qualified for a loan modification or a short sale



In Defense of Home Ownership – Great Article from The New York Times
It’s hard to read the headlines and not conclude that becoming a homeowner is a terrible idea.
More from NYTimes.com:
• Technology Aside, Most People Still Decline to Be Located
• 2 New Federal Programs to Help Borrowers Pay Their Mortgages
• Does the Recovery Depend on Housing?
Last week, the National Association of Realtors announced that existing-home sales in July had fallen an astounding 25.5 percent from the previous year. Sure, there was a federal tax credit in place last summer. But with single-family home sales at their lowest level since 1995 and unemployment still stubbornly high, home prices may fall further.