Monday, July 2, 2012

Housing News Digest, July 2

Mountain Regional Housing forced to disband- CARBONDALE, Colorado — A community housing organization that oversaw Garfield County's first affordable housing project in Carbondale and helped facilitate an effort to secure employee housing in Aspen is being disbanded. Recent funding cuts from the town and difficulties selling deed-restricted housing units with the recent downturn in the real estate market are being cited as reasons for the dissolution of the nonprofit 501(c)(3) Mountain Regional Housing Corp.

HUD Announces Assistance for Victims of Recent Colorado Fires U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to the State of Colorado and provide support to homeowners and low-income renters forced from their homes due to the ongoing High Park and Waldo Canyon wildfires this month.
Yesterday, President Obama issued a disaster declaration for El Paso and Larimer Counties. The President’s declaration allows HUD to offer foreclosure relief and other assistance to certain families living in these counties.

GAO: Foreclosure Mitigation Efforts Need Improvement With high foreclosure rates still presenting a major hurdle to housing and economic recovery, GAO conducted a study to evaluate and find opportunities to enhance foreclosure mitigation efforts. The report asserts that government agencies participating in foreclosure mitigation programs need improve their existing strategies to help borrowers.

 CMBS delinquencies up for fourth-straight month The delinquency rate on commercial mortgage-backed securities raised 12 basis points to 10.16% in June, the fourth-straight month of increases and another all-time high, according to analytics firm Trepp. Last year, the delinquency rate stabilized at 9.5%, but Trepp analysts warned about five-year loans securitized in 2007 that were reaching their maturity dates. The rate, analyst said at the time, "could hockey-stick upward in 2012."

 Firefighters douse fire at east Fort Collins apartments Firefighters on Sunday evening quickly controlled an apartment fire at the Brookview Apartments complex at 1200 E. Stuart St. in Fort Collins.

Monotony of shelter life for wildfire evacuees More than 30,000 people evacuated from their homes after the Waldo Canyon fire raced down a mountainside into Colorado Springs on Tuesday. Almost 350 homes were damaged or destroyed. By Sunday, the number of evacuees was down to 10,000 - and was set to dwindle to 3,000 by day's end as more neighborhoods reopened.