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Monday, February 15, 2010

NY Times: Worries Grow as Government Housing Support "Winds Down"

by Calculated Risk on 2/15/2010 08:42:00 AM

From David Streitfeld at the NY Times: U.S. Housing Aid Winds Down, and Cities Worry

Streitfeld discusses the Fed's MBS purchase program (95% complete and scheduled to end next month), the housing tax credit (contracts must be signed by the end of April, and deals closed by the end of June), and the slight tightening of FHA requirements.

Here is a list compiled in December of many Government housing support programs. Some have already ended (like the extension of the HAMP trial mods on Jan 31, 2010), and, as Streitfeld noted, others will end over the next few months.

One program that is being ramped up is Home Affordable Foreclosure Alternatives (HAFA: short sales and deed-in-lieu) that starts on April 5, 2010.