Crisis Legal NewsClick here to add this website to your favorites
  rss
Crisis News Search >>>



Home prices tumbled by the steepest annual rate on record in the fourth quarter, two housing indexes showed Tuesday, and the pace of decline continued to gain speed in all but a handful of battered cities.


The farther prices fall, the fewer homeowners may be able to qualify for President Barack Obama's mortgage relief plan. Last week, the president estimated up to 5 million borrowers in good standing who don't owe more than 105 percent of their home's current value would be able to refinance into a lower interest-rate loan.

Though details of the plan won't be released until March 4, more than 10 million homeowners are already under water, meaning they owe more on their mortgages than their homes are worth. Nationally, home prices have receded to 2003-levels, and half of the metro areas in the 20-city Case-Shiller Home Price Index have lost more than 20 percent of their values from their peaks in 2006, including Las Vegas, Phoenix and Miami.

"If they don't get (the plan) into place very soon, it will be out of our reach to help these people," said Mark Zandi, chief economist for Moody's Economy.com.

Americans are feeling grim about the prospects of any turnaround. Consumer confidence index sank to new lows in February as huge job cuts, shrinking retirement accounts and plunging home prices fueled fears, the Conference Board said Tuesday.


© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
www.mjmlawoffice.com
CPA Accounting Web Design
Finanace Office Web Designs
www.webpromo.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer
www.willamettevalleybankruptcy.com