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First-time homebuyers struggling amid recovering market + MORE

Some interesting first-time home buyer and mortgage settlement news from around the country. Be sure to read the mortgage settlement article, as it talks about how state legislators are going after lenders to make it more difficult for them to foreclose on homeowners.

South Florida’s housing renaissance is becoming a curse for first-time homebuyers.
Despite affordable prices and historically low mortgage rates, these buyers are being shut out of the market by strict lending standards and a dearth of homes for sale. When they do find a place, it’s also targeted by investors whose cash offers make sellers swoon…

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The Obama Administration’s full-bore effort to push a bank-favoring mortgage “settlement” over the line earlier this year has led to a rearguard action that appears to have caught the mortgage industrial complex and its allies flatfooted.

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