Video report : 50% of Valley homes underwater

Real estate experts: 50% of Valley homes underwater: "PHOENIX - It's another sign of the troubling times in the Phoenix area housing market.

Several real estate experts agree that more than 50% of homeowners in the Valley are underwater.

“There have been other reports they even have worse numbers, 66-67%,” said Dr. Jay Butler, director of realty studies at Arizona State University.

“I think most people thought by now we'd at least be working our way through the problem but it seems to be getting a little worse,” said Butler.

With more people walking away from their homes, the val" >>>READ ENTIRE ARTICLE BY CLICKING TITLE LINK ABOVE

Brand new today SEPT 8 2010 New FHA Mortgage Refinance Program Aimed at 11 Million Homeowners Underwater - Real Estate Channel Global News Center

New FHA Mortgage Refinance Program Aimed at 11 Million Homeowners Underwater - Real Estate Channel Global News Center: "About 1.5 million of the 11 million U.S. homeowners who owe more on their mortgage than their home is worth could be catching a break shortly.

A new Federal Home Administration refinance program kicked off Tuesday, Sept.7.

The government has earmarked $14 billion in Troubled Asset Relief Program (TARP) funds to support the program.

The latest data from CoreLogic shows that some 11 million borrowers were in a negative equity position as of the end of June, reports DSNews.com. That equates to 23 percent of all U.S. residential properties with a mortgage."

To facilitate the refinancing of new FHA-insured loans under the program, the U.S. Department of Treasury says it will provide incentives to existing second lien holders who agree to "full or partial extinguishments" of the liens.

NOTE::: I Hope this helps more than their last help program for underwater homeowners. CHECK IT OUT FAST


photo credit: sxc.hu