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NACA demands help with mortgage modifications on Capitol Hill

NACA members from the state of Maryland went to Senator Barbara Mikulski's office at the Capitol Hill on July 27, 2010, to advocate for ...

City buys distressed mortgages to preserve affordable housing

The New York City Department of Housing Preservation and Development (HPD) Commissioner Maria Torres-Springer joined a number of non-profit organizations and financing partner Goldman Sachs Urban Investment Group to announce the acquisition of 38 distressed mortgage notes via the City’s Community Restoration Fund (CRF) Program.

The mortgage notes, for one- to four-family properties in the Bronx, Brooklyn, Queens and Staten Island, were acquired from the Federal National Mortgage Association (Fannie Mae) for $8.7 million through their Community Impact Pool (CIP).

Fannie Mae’s CIP provides not-for-profits, minority- and women-owned business enterprises, and neighborhood advocacy organizations the ability to bid competitively on mortgage notes being offered for sale.

“Nearly a decade after the financial crisis, too many hard working New Yorkers are still not out of the woods, with profound impacts not just on families, but on neighborhoods. The Community Restoration Fund works to stabilize communities and give struggling homeowners the chance to find firm footing once again,” said Housing Preservation and Development Commissioner Maria Torres-Springer.

Lincoln County Property Transfers

The following property transfers were recorded recently at the Lincoln County Courthouse in Wiscasset:

Boothbay: William C. Duncan Tr., Lizbeth L. Duncan Tr., and Duncan Management Trust Agreement to Edward Roger Greenwood and Darlene Greenwood;

Bremen: First National Bank and First N. A. to Robert O. Hyson and Megan Hyson;

Bristol: Lorraine F. Schnitzer to Robert H. Reese; Laurel J. McBurnie to Katherine G. Libby; Holly Signore to Deanna S. Pierpan and Christopher Pierpan; Domenico Mattozzi and Bonnie Mattozzi to Domenico Mattozzi, Bonnie Mattozzi, Dominique Mattozzi, and Savin Mattozzi; Leslie Cheney Bolster to Chad C. Bolster; Dexter S. Polistock Pr. and Demitri Polistock Est. to Dexter S. Polistock and Demitri A. Polistock; Demitri A. Polistock and Dexter S. Polistock to Kristin W. Sant;

Damariscotta: Jane J. Gravel to Amy L. Lalime; Debra L. Arter to Thomas H. Arter;

Dresden: Michelle Caravetta to Benedict Ingegneri Jr. and Cindy R. Ingegneri; Michelle Caravetta Gdn., Stacy Caravetta, and Stacey Caravetta to Benedict Ingegneri Jr. and Cindy R. Ingegneri;

Is there a point to having a barely affordable mortgage...?

and living in a nice house in a good area, but you know that if anything were to go wrong you would not make the payments. Any solutions? The cost of houses is ridiculous these days, it's hard enough getting a house in any area let alone a nice one.

I agree with your answers, but I just went mad last year, and rented out my house to totally pay off the mortgage, and stayed on my small boat in the meantime.
Result ?