NBN Online for the week of October 6, 2008

(Plain Text Version) for full graphical version, click here.

In This Issue:

Front Page
Rescue Plan Shores Up Hopes for Housing Turnaround
Builders Cite Appraisal Problems in Declining Housing Markets
Layouts for Living
Floor Plans: Rustic Elegance, Contemporary Comfort
Coast to Coast
For Bailout to Work, Housing Market Needs to Mend
Politics & Government
Expiring Energy Tax Incentives Extended
50+ Home Owners See Tax Benefits in Housing Bill
FBI Investigating Construction Defect Schemes in Las Vegas
New Jersey Builders, Realtors Host Seminar on Housing Act Benefits
Economics & Finance
New Single-Family Home Sales Slip Further in August
FHA ‘Hope for Homeowners’ Program Up and Running
Eye on the Economy: Near-Term Housing Outlook Has Darkened
Get Essential Housing Analysis at Construction Forecast Conference
Useful Links to Monitor Economic and Housing Trends
Coaching Legend Lou Holtz to Kick Off 2009 Builders' Show
Register for the 2009 Builders' Show in Las Vegas
Think — and Act — Radically About Industry Education. Sign Up at IBS
Builders’ Tip: Bend PVC Pipe Without Putting a Kink in It
Business Management
Properly Focused Technology Can Help Builders Survive
Construction Safety
NAHB Safety Training Program Receives OSHA Grant
Apply for NAHB SAFE Award by Oct. 13
Experts to Discuss Diversifying Into Light Commercial
Suspended Ceilings Have Economic, Green Advantages
50Plus Housing
Best of 50+ Housing Awards Open for Nominations
Revolutionize Your Thinking About 50+ Housing
Enter Pillars of Industry Marketing, Design Awards
Nominees Sought for HCCP of the Year Award
Learn About Lead Paint Rule During Oct. 28 Audio Seminar
Call Your Former Clients, There Is Work Out There
Member Profile: A Super-Assertive Advocate for His Association
Building Systems
SHOWCASE Offers Solutions in a Challenging Market
Log Homes Council Membership Drive Continues Through Dec. 31
Enter The Nationals Sales and Marketing Awards by Oct. 17
Custom Builder Symposium Can Help Navigate Downturn
Earn CGP Designation at Custom Builder Symposium
Education Calendar
Green Building
NAHB Brochure Offers Green Building Liability Advice
Student Members Get Set for Builders’ Show in Las Vegas
Building Products
Lutron Introduces Energy-Efficient LED Dimming Driver
NAHB-Produced Programs on DIY, Fine Living and HGTV
NAHB Intern Encouraged About Future in the Industry
Applications for Endowment IBS Scholarships Due Oct. 31
Association News
Members, Save 10% at Omaha Steaks When Shopping Online
Williams Scotsman Offers One Month Free Rent, $50 Gas Gift Card
GM $500 Private Offer: Easy as 1-2-3
UPS Offers Up to 30% Discount to NAHB Members on Shipping
Save $25 on Hertz ‘Green,’ ‘Fun’ or ‘Prestige’ Weekly Rentals
Calendar of Events
NAHB Career Center

Related Articles

New Single-Family Home Sales Slip Further in August

Eye on the Economy: Near-Term Housing Outlook Has Darkened

Get Essential Housing Analysis at Construction Forecast Conference

Useful Links to Monitor Economic and Housing Trends

FHA ‘Hope for Homeowners’ Program Up and Running

The Federal Housing Administration’s new Hope for Homeowners program, initiated on Oct. 1, has been welcomed by NAHB as a means for insuring new, more affordable mortgages for home owners who are struggling with burdensome payments on their current home loans.

“It was critical to get this program up and running quickly in order to help stem mounting mortgage foreclosures that add to unsold home inventories and undermine home prices,” said NAHB Chairman Sandy Dunn. 

Under the program, the holder of a troubled mortgage must agree to accept, as payment-in-full, an amount equal to 87% of the current value of the mortgaged property. The borrower then receives a new, FHA-insured mortgage that represents 90% of the home's current value, with the 3% balance going to cover the borrower's upfront FHA mortgage insurance premium.

The home owner is then responsible for an annual mortgage insurance premium of 1.5%.

Eligible borrowers must meet a mortgage payment-to-income test and agree to share equity gains on their home with the federal government.

The recently enacted housing stimulus legislation, the Housing and Economic Recovery Act of 2008, provided FHA with an additional $300 billion in mortgage insurance authority to operate the new program for the next three years.

“Our members are hoping mortgage investors and servicers take full advantage of the Hope for Homeowners program,” said Jerry Howard, NAHB’s executive vice president and CEO. Replacing toxic mortgages with sound and affordable FHA-backed loans would go a long way in restoring order to what has been a very chaotic mortgage market.”

For more information on the program, click here; or e-mail David Ledford at NAHB, or call him at 800-368-5242 x8265.

Attend the NAHB Construction Forecast Conference on Oct. 22

Don't miss NAHB's 2008 Fall Construction Forecast Conference and Webcast for the latest economic news about the housing industry.

Join NAHB on Oct. 22 in Washington, D.C., where the country’s leading economists and finance experts will provide insight into the uncertainties of the housing market.

To register for the conference or Webcast, and to see the full conference agenda, visit www.nahb.org/cfc.

Want to Know the Housing Forecast for the Top 100 Metros? 

Find out in HousingEconomic.com’s 2008 to 2009 Metro Forecast (free preview).

Get the metro forecast with in-depth analysis, overviews and downloadable Excel tables.

To learn more, visit www.HousingEconomics.com.

Free NAHB Kit Gives Builders Back-to-Basics Tips to Navigate the Slowdown

What was once expected to be a relatively mild housing slump following three years of record new home construction and sales has given way to a significant downturn.

To help members navigate the uncharted waters of this slowdown, NAHB has compiled a comprehensive “Back to Basics” online toolkit — the best of the basics, the tried and true and the truly new. To access the toolkit, click here.

To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar.

For assistance, call the NAHB Member Service Center at 800-368-5242.


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