Home Affordable Refinance Program Opens New Doors For Distressed Homeowners

Friday, March 20th, 2009

4 to 5 million homeowners in owner-occupied borrowers with conforming Fannie Mae or Freddie Mac loans?? are going to be receiving help from The Obama Administration.????The new program will help to refinance up to 105 percent of the current market value of their properties. That plan is to help homeowners refinance thier homes when they […]

Homebuyers Face New Fees From Fannie Mae

Monday, March 16th, 2009

It’s not what home buyers, sellers and refinancers want to hear, but what they need to know. Fannie Mae and Freddie Mac are ratcheting up their mandatory fees and toughening credit-score and down-payment rules as of April 1.?? Most major lenders already are tacking on the higher fees, effectively raising costs to consumers immediately and […]

San Diego Real Estate Is Becoming More Affordable

Thursday, March 5th, 2009

?? ?? A silver lining to San Diego County’s falling home prices emerged as an index showed housing affordability approaching the 50 percent mark for the first time in 15 years. A report from the National Association of Home Builders showed that 44.6 percent of homes sold in the fourth quarter of 2008 were affordable […]

Top US Banks Offering Loan Modification Packages

Wednesday, January 28th, 2009

Major US lenders have??announced they are aggressively reworking mortgage loans to help homeowners remain in their homes.?? The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac loans, along with the HOPE NOW alliance of lenders, launched a “Streamlined Modification Plan”??in December. IndyMac Federal Bank also announced a systematic and streamlined loan modification […]

US Mortgage Rates Falling

Monday, December 15th, 2008

U.S. mortgage rates dropped the most they ever had in at least seven years at the end of November as a Federal Reserve pledge to buy $600 billion of debt succeeded where seven cuts in the central bank???s benchmark rate had failed. The average rate for a 30-year fixed mortgage fell to about 5.5 percent. […]

Short Sale Vs. Foreclosure Which Is Better For You?

Thursday, December 11th, 2008

If your financial situation finds you facing foreclosure, there is an option for you to save your credit. You can even sell your home and your lender will pay the commissions and closing costs.If the fair market value of the home is less than your loan balance, there is a process called a Short Sale […]

Federal Reserve Announces $800 Billion To Stimulate Lending

Thursday, December 11th, 2008

According to the New York Times, The Federal Reserve and the Treasury announced $800 billion in new lending programs by printing to more money to bolster the mortgage market. The mortgage markets responded quickly to the Fed’s announcement that it will buy up to $600 billion in debt related to mortgages guaranteed by Fannie Mae […]

Fannie and Freddie Offering Homeowners An Early Holiday Gift

Thursday, December 11th, 2008

Troubled Mortgage Giants Fannie Mae and Freddie Machave decided to give struggling homeowners an early holiday gift, they have announced that suspend eviction on certain properties until after the holiday season while they work on their previously announced loan modification program.?? The suspension applies to 10,000 borrowers with Fannie, and 6000 with Freddie in occupied, […]

FHFA ANNOUNCES REVISED CONFORMING LOAN LIMITS

Thursday, December 11th, 2008

The Federal Housing Finance Agency (FHFA) announced revisions to their conforming loan limits for 2009 last Friday.?? The new limit for 2009 will remain at $417,000 in most areas of the US, however loan limits for higher cost areas including California have been lowered to $625,500 from $729,750.?? Many areas in California do not reach […]

Government Take Over to Bolster San Diego Real Estate

Thursday, December 11th, 2008

According to Sandicor, there were 2,562 San Diego home sales in August 2008. Approximately 32 percent of these sales were San Diego bank owned properties due to San Diego foreclosures. To view the current list of San Diego Foreclosure properties, visit HouseRebate.com. ?? ?? The Federal Government takeover of Fannie Mae and Freddie Mac has […]

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