Recommended: This piece by Michael Shedlock from the Seeking Alpha blog on unforeseen complications in the Mortgage Forgiveness Act, which is supposed to help people avoid foreclosure. The big kink Shedlock discusses is that if you rent out your house in an attempt to stave off foreclosure you may spoil your chances of getting tax relief from the IRS.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.