Obama Unveils Plan to Prevent Foreclosures

President Barack Obama unveiled plans Wednesday to help up to 5 million homeowners restructure or refinance their mortgages to avoid foreclosure. The plan would eliminate a key restriction that previously prevented homeowners who owe more than 80% of the value of their homes from refinancing. Read the entire article in the San Antonio Business Journal

Fannie Mae Reconsiders 4 Mortgage Limit

Fannie Mae quietly announced that it will lift the 4 mortgage limit back up to 10. This could be good news for investors. Read the entire release here: Fannie Mae Revises Multiple Mortgage Limit

4 Texas Cities Rank in Top 10 for Lowest Unemployment

The Bureau of Labor Statistics released a report on unemployment rates for large metropolitan areas and Texas fared very well. In the top 10 cities with the lowest unemployment, Austin ranked 3rd, San Antonio ranked 4th, Houston tied for 7th, and Dallas-Fort Worth tied for 10th. Read the report here: Bureau of Labor Statistics Local … read more

Three Banks will Temporarily Halt Foreclosures

Citigroup, Bank of America, and JP Morgan announced that they will halt foreclosures under intense pressure from Washington. Read the article here.