Faster Sales Coming For Foreclosure Buyers Foreclosure buyers got a Christmas Eve goodie from Fannie Mae, a new strategy that’s likely to make foreclosure purchasing very much quicker. The catch? A bunch of lenders are about to be very unhappy. Until the recent real estate meltdown, foreclosures were a problem but not too much of [...]

Filed under: Commentary, Mortgage, Real Estate Market, Short Sale, VRN | No Comments »

We’ve been following developments in the mortgage insurance (MI) industry for a while now, documenting the reasons why the industry has practically disappeared from the marketplace, questioning why it wasn’t being assisted to a greater degree by the government, and declaring that mortgage credit conditions won’t improve without the resurrection of MI.
About four months ago [...]

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The Department of Housing and Urban Development’s FHA Streamlined 203(k) loan allows qualifying home buyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in.

Filed under: Credit, Current Events, Finance, Home Improvement, Money-Saving, Mortgage | 1 Comment »

First-time home buyers had better get a move on if they hope to take advantage of the $8,000 federal tax credit. The window of opportunity is closing rapidly.

Filed under: Current Events, Foreclosure, LA Area, Money-Saving, Mortgage, Real Estate Market, Tax Issues | No Comments »

Image by duane.schoon via Flickr Here are some tips to help determine which house is best for you so when the opportunity is right you may strike. Once you’ve settled on a couple of preferred neighborhoods for your home search, it’s time to pick out a few homes to view. Having a house features “wish [...]

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Image via Wikipedia This week’s C.A.R. Mortgage Update contains information about modifying FHA-insured loans; challenges condo buyers are having with obtaining approval on mortgages; the formation of a new consortium of lenders, brokers and mortgage-technology providers; a report on loan modifications; and current mortgage rates. Guidelines aim to help struggling borrowers The U.S. Dept. of [...]

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Image by Getty Images via Daylife We are writing to keep you informed of some revised federal guidelines that outline 10 things that appraisers must do or provide for all FHA appraisals done after April 1, 2009: 1. The Market Conditions Addendum (Fannie Form 1004MC/Freddie Form 71). 2. At least two (2) comparable sales within [...]

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Image via Wikipedia California lawmakers approved a new budget that included a $10,000 tax credit for home buyers, the largest home-buyer incentive ever offered in US history to date. Here’s what you need to know. The $10,000 tax credit is for any home buyers that purchase a new home between March 1, 2009 and March [...]

Filed under: Current Events, LA Area, Money-Saving, Mortgage, Real Estate Market, Relocating to LA, Tax Issues, West Hollywood | No Comments »