It looks as if the housing market may be stabilizing. This sis a article exploring the steps and actions that were taken to stabilize the US housing market.
Key Actions of Housing Recovery
- The FHA's Efforts and Powerful Initiative
- Their efforts to spend capital on mortgage assets and securities when private capital was no where to be found.
- Political backing of their efforts to reform the financial markets and particularly the practices and operations involving debt and risk management.
- Obama’s Making Home Affordable Plan
- HAMP Modifications have helped 1.2 million homeowners obtain a loan modification
- HARP Refinance
- Lender Incentives
- Freddie Mae as acting agent for the MHA-C or the compliance assurance operations
- The Plans overall flexibility and agility to structure and restructure programs as they are needed.
- The Hardest Hit Fund – Foreclosure Relief
- Home Buyer Tax Credit
- The home buyer tax credit added a great incentive for first time home buyers.
- The Nearly 25 Billion Dollars Given to US Housing Agencies
- US Housing Agencies were able to keep lending while other private lenders were saddle bagging cash out of fear and financial panic.
- 1.4 Trillion dollars of Purchases by the FED and Treasury to Keep Credit Markets from Choking
- Thank God. We would be Russian otherwise.
- Financial Support for Fannie and Freddie
All of these actions taken by our collective American government has really helped stabilize the US housing market.