Housing Recovery under the Obama Administration Reelection

With the reelection of President Obama, there will be a continuance of federal programs such as the Home Affordable Mortgage Program (HAMP) which, combined with a 4.6% increase in national housing prices annually in October, gives hope of further recovery in the housing market.

Despite the 4.6 percent increase, home prices are still 37.6 percent below their peak, according to Clear Capital. Clear Capital explains that this means a house bought for $200,000 in 2006 would be worth somewhere in the range of $124,000 today.

As we continue to monitor housing recovery progress on the national level, the Law Office of R. Spencer Lauterbach is here to assist New York homeowners on all matters related to foreclosures, mortgage modifications and short sales. Please call R. Spencer Lauterbach at (845) 639-1699 for a free phone consultation. Posted 12.8.2012