Saturday, March 5, 2011

Much Ado about… Very Little- FED WATCH

WASHINGTON: March 3rd, 2011 The February 2011 Housing Scorecard published by HUD & US Treasury tells the story. The Obama Administration’s numbers reveal little help is being provided by the much ballyhooed Making Home Affordable federal programs currently in operation to assist distressed homeowners. Pages of charts and statistics dress it up. But the truth is of the over 10 million underwater home loans, only 1 in 17 homeowners have found help through HAMP permanent mortgage modifications.

What about those remaining homeowners not helped by HAMP? Or looking at it statistically, those 16 in 17 that Making Home Affordable didn’t help? That’s where Realors® come into the picture. To all of you Realtors® out there, keep working hard to make those short sales happen. America’s homeowners need your dedicated service to forestall the avalanche of foreclosures. Thank you for your service.

This article was authored and researched by Craig Roberts President of Pennsylvania First Settlement Services, "where service comes first". Roberts has been in the title and settlement business for the past 30 years. Prior to taking the position of President at PA1st, Roberts owned Fidelity First Abstract, Agents and Brokers Settlement Services and other companies dealing with data from real estate sales and transactions. PA1st started in 2003 as a joint venture with First American Title Insurance Company and taken private in 2006. Pennsylvania First Settlement Services handles all phases of the title and settlement business including sales and refinances in the Pocono Mountain and all throughout Northeast PA. Visit them on line at

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