Posts under ‘Mortgages’

Everyone has a lot of questions about the guidelines for this new program.  There are 2 things that you will want to know.  One, YOU DO NOT NEED TO HIRE A LOAN MODIFICATION COMPANY (3rd Party) TO DO THIS.  Two, BE THOROUGH FILLING OUT THE INFORMATION SUBMITTING A COMPLETE PACKET THE FIRST TIME. Revised March [...]

With the Economic Stimulus Package and the Foreclosure Prevention Plan underway, many Americans are anxious to move forward, realizing that there will still be weeks and months of discussion and fine-tuning before all elements will be understood. At the end of the day, some elements will be popular with the majority, perceived as helpful to [...]

We were all hoping that President Obama would put the conforming loan limit cap back to $729,750.  Hooray!!  We have several clients where this will make a huge difference to them on what they can afford.  Let’s hope that this one move is a stimulus to the housing market and that the first time home [...]

I attended a seminar today on Short Sales.  It seems that in California, short sales appeared first in San Diego about 3 years ago.  Today, you will see short sales in communities that thought they were immune like Beverly Hills, CA. where short sales are hitting homes listed at over $1Million. Statistics show the Real [...]

While guidelines for lending have become much tighter, there is money to lend and loans are funding at all price levels. For clarity, there have been some changes in the conforming loan limits: Effective with the Federal Housing Finance Agency (FHFA) release in November 2008, there are two sets of conforming limits provided for first [...]

Andy Block, a mortgage broker contact of ours, shared insights into how the media’s portrayal of the financial crisis makes it more difficult to place the markets into proper context. Susan McHan, a colleague of Andy’s (CEO of Opes Advisors) recently appeared on ABC7′s The View from the Bay to discuss the current difficulties and [...]

A mortgage broker we work with, Andy Block, noted in a recent email to us that he believes that we’re looking at the “beginning of the end” of the credit crisis, and that the government has sent a strong signal that liquidity would not be a problem in the future. A few of his thoughts… [...]

Calling all would-be buyers!  Freddie Mac, Fannie Mae, FHA-what IS all this that has been in the news?  Interest rates are moving down and FHA loans are now at an all time high.  These loan amounts are going to go down at the end of the year. Check out all the particulars and get your questions [...]

Alan Greenspan faults the U.S.’s approach in fixing Fannie Mae and Freddie Mac, saying the credit crisis offered an “ideal opportunity” to dismantle the mortgage giants. The former Fed chairman predicted U.S. home prices would reach their bottom in the first half of 2009. http://online.wsj.com/article/SB121865515167837815.html?mod=djemWMP