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The answer is not too much.  While many banks and mortgage servicers tout the number of homeowners they are helping most are doing the HARP programs offered by FNMA and FHLMC.  The number of modifications and help for underwater homeowners who do not fit into the HARP programs is very limited. 

Here is a link to an interesting article.  http://money.cnn.com/2011/08/31/real_estate/obama_housing_scorecard/index.htm?iid=SF_M_Lead 

Kiss 4% mortgage rates goodbye

http://money.cnn.com/2010/12/30/real_estate/mortgage_rate_spurt/index.htm

According to a recent Money Magazine Article it is.  Follow the link for the full story.

http://money.cnn.com/2010/12/10/pf/buy_a_home_now.moneymag/index.htm 

Here is another sign that the economy is not yet recovering.  Follow link for the full story.

http://www.foxnews.com/us/2010/11/02/homeownership-lowest-level-decade/

Dean

Follow this link to a great article on choosing a smoke detectors to protect your home and those inside it.

http://www.consumersearch.com/blog/which-smoke-detectors-provide-the-best-protection?

According to a WSJ article housing prices will be influenced by the way banks deal with their foreclosures.  Over the next several months, this could have a greater impact on values than interest rates or other economic data.

Read the full article below.

http://online.wsj.com/article/SB10001424052748704505804575483844277697242.html

Big FHA loan changes are coming September 7, 2010.

Upfront MIP (Mortgage Insurance Premium) will be reduced to from 2.25% to 1% but monthly mortgage insurance will increase from the current .55% to .85% - .90% based on LTV.These changes will have a negative effect on a borrowers ability to qualify as the higher monthly mortgage insurance will raise the monthly payment and reduce buying power.

The monthly mortgage insurance on a $300,000 FHA 30 year fixed loan is currently $137.50. The premium based on the new factors will make this between $212.50 and $225.00 monthly depending on the loan to value ratio.

Call me with any questions. 

NEW YORK (CNNMoney.com) -- Home prices rose slightly in May compared with a month earlier, appearing to have stablized at the lower levels that followed the end of the residential real estate bubble, according to the S&P/Case-Shiller Home Price Index of 20 major housing markets released Tuesday.

Prices were up 1.3% from April, and 4.6% from 12 months earlier.

Full article  http://money.cnn.com/2010/07/27/real_estate/May_Case_Shiller/index.htm

Borrowers who have the ability to pay their mortgage but choose to walk away may be sued and won't be able to get a Fannie Mae loan for 7 years.  Follow the link to an article with more details.

http://news.yahoo.com/s/ap/20100623/ap_on_bi_ge/us_fannie_mae_penalties

Legislation was just passed that will allow the FHA to raise the cost of monthly mortgage insurance from the current .55 factor to 1.55.  On a $400,000 FHA loan the cost at 1.55 is $516.68 per month. The current cost is $183.33.

If you are thinking of buying with an FHA loan, make your move before these changes take effect.