FORECLOSURE PREVENTION PLAN UNVEILED

Provided By RECON Real Estate Center Online News
Source New York Times/ Dallas Morning News

April 5th will mark the beginning of a new program by the Obama administration intended to end the foreclosure crisis — one that will pay homeowners to sell their homes.


The program will allow owners to sell their homes for less than they owe and give them cash to expedite the process.

Hundreds of thousands of delinquent borrowers will be encouraged to sell their houses through short sales, in which properties are sold for less than the balance of the mortgage.

The new program will give the servicing bank $1,000, and another $1,000 may go toward a second loan, if one exists. The distressed homeowners will also receive $1,500 in relocation assistance. To read more of this article click here.

Are you interested in learning more about the upcoming foreclosure program? Give us a call at (972) 772-7000 or send us an email at rockwall@kw.com.

PLANNING NORTH TEXAS' FUTURE

Provided By RECON Real Estate Center Online News
Source Dallas Business Journal


The North Texas 2050 plan was unveiled Friday to prepare the region for the estimated population increase from its current six million people to nine million in 2030 and 12 million in 2050.


The plan provides a broad regional approach to issues that will be complicated by population increases, including transportation, development, education, health, environment, housing, economic development, energy and lifestyles.

Plans provide guidelines for businesses, governments, property owners, chambers of commerce, neighborhood associations and other organizations.

A few of the plan’s recommendations include:

• The North Central Texas Council of Governments should develop an urban forest management plan and explore the use of fees to compensate for the impact of development.

• The North Texas Housing Coalition should guide cities, developers, builders and property owners in improving housing availability, variety, value and quality.

• The Regional Transportation Council should develop and adopt a mobility plan, and transportation officials should provide systems with more travel mode options.

• A team should be formed to monitor the region’s environmental carbon footprint.

Vision North Texas is a partnership of the Urban Land Institute North Texas District Council, the North Central Texas Council of Governments and the University of Texas at Arlington. Hundreds of government, business and other groups were involved creating the plan. To read more of this article click here.

Want to know more about the North Texas 2050 plan? Give us a call at (972) 772-7000 or send us an email at rockwall@kw.com.