National mortgage plan may not resonate in Gainesville
Nationwide, struggling owners are expecting relief following a mortgage deal struck by the federal government and many large banks, but Gainesville/Alachua County Association of Realtors President Craig Wilburn says it may not be the long term solution North Central Florida really needs.
The plan outlines two possible paths for relief. One would give homeowners who want to stay in their homes the opportunity to refinance at lower rates. The second gives up to $2,000 back to people who went through the foreclosure process between 2008 and 2011. He says Gainesville’s foreclosure and distressed homes rate is at 25% of the market, but some areas around the nation see rates as high as 80%.
He says this is a step in the right direction, and although it may not make a big impact in Gainesville, any step towards helping people stay in their homes is a positive one.
This entry was posted in Local
. Bookmark the permalink
More Stories in Local
Gainesville took another step towards increasing government transparency through the soft launch of statGNV. The new database aims to provide more data and statistics to the general public.
Student organizations at the University of Florida organized a candlelight vigil in honor of Sept. 11 and the victims of the attacks thirteen years ago. These students shared their own stories of the backlash that followed the attacks.
A local Girl Scout donated agility equipment to Alachua County Animal Services. The equipment assists volunteers with training dogs in skills that make them more adoptable.
A plea for solidarity and strength rang out at the No Gator Walks Alone rally held in the Plaza of Americas at the University of Florida on Monday night. The event, which was planned in less than 24 hours, came [...]
A scooter was struck by a vehicle around 2 p.m. Monday. The scooter’s driver suffered a broken leg and was taken to UF Health Shands Hospital for further medical attention.