According to the Bureau of Labor Statistics, around 8,000,000 jobs have been lost in the past few years causing our economy to be at its worst since the Great Depression. According to Ken Rosen, chair of the Fisher Center for Real Estate and Urban Economics at the University of California at Berkeley, only 1,000,000 new […]
Posts Tagged: Homes for Sale
What is the value of your home? Find our fast and FREE!
We have added a great new feature to our Homes-In-Stockton.com website. Receive a FREE instant home valuation. Click here to try it out. Posted via email from www.Homes-In-Stockton.com Posterous
Lenders and Homeowners Dancing the Default Limbo
Download now or preview on posterous 07 26 10.pdf (233 KB) About 4.5 % of mortgages in the greater San Francisco Bay area are at least 3 months behind in mortgage payments and not yet in foreclosure. This default limbo is different from other real estate crashes because previously there were fewer troubled loans which […]
Government Housing Program Shows Little Benefit at High Cost
Download now or preview on posterous 07 21 10.pdf (92 KB) Loans backed by the Federal Housing Administration, the Government National Mortgage Association, the Veterans administration, Fannie Mae and Freddie Mac have increased the government’s debt by $512.4 billion. TARP inspector general, Neil Barofsky said "Treasury’s refusal to provide meaningful goals for this important program […]
Real Estate Tax to Pay For Medicare
Download now or preview on posterous health care & real estate tax.pdf (21 KB) Will health-care legislation passed this year impose a sales tax on all real estate sales? Yes, but the tax will not affect everyone. The Health Care and Education Reconciliation Act of 2010, which takes effect Jan. 1, 2013, will impose a […]
Uncle Sam is Looking For Homebuyers
Download now or preview on posterous 07 01 10 Buy Your Next Home From Uncle Sam.pdf (28 KB) The U.S. government holds a great deal of the housing inventory in the country. Most if it having been seized through foreclosure. Now the government is desperately trying to find buyers for these properties through auctions or […]
Ten Facts You Need to Know About Mortgage Debt Forgiveness Before Initiating a Short Sale!
Download now or preview on posterous Ten Facts about Mortgage Debt Forgiveness.pdf (16 KB) The IRS published the Ten Fact about Mortgage Debt Forgiveness. It is a must read for anyone considering a short sale, deed in lieu or foreclosure. We highly recommend you seek the advice of a CPA and real estate attorney before […]
Fannie Mae Foreclosure Prevention
Download now or preview on posterous 06 08 10.pdf (16 KB) Fannie Mae unveiled the details of their upcoming version of the Making Home Affordable Foreclosure Alternatives (HAFA) program which takes effect August 1, 2010. The purpose is to serve those borrowers who are eligible for a loan modification under the Home Affordable Modification Program […]
And the Property Goes To…
According to CNNMoney.com Boom in real estate auctions – May. 25, 2010 more and more homes are being sold by way of auction. Just in the first quarter of 2010 auction sales have spiked 14%. They also reported that the Real Estate Disposition Corp. has already had 195 auctions this year. If that pace is […]
Housing market statistics…what to believe?
Interesting article on housing market statistics. Is the housing market turning around or going down? Depends on who you are listening to. Real estate sales web site traffic is down but real estate rental sites traffic is up. View article… Posted via email from www.Homes-In-Stockton.com Posterous
Washingtonpost.com reports 9.1% of borrowers had missed at least 3 months of payments in December!
http://www.washingtonpost.com/wp-dyn/content/article/2010/02/01/AR2010020103 527.html?hpid=topnews Posted via email from www.Homes-In-Stockton.com Posterous
Chase violates Treasury Dept. rules when denying some loan modifications!
Several distressed homeowners who may be eligible for loan modifications were denied by Chase for a reason that violates the Treasury Department’s rules, according to a recent report from ProPublica, a nonprofit news organization. ProPublica said that six troubled homeowners had been denied loan modifications by Chase Home Finance, JPMorgan’s mortgage servicing arm, on the […]
FHA is lifting 90 day ban on flipping property! Good news for FHA buyers.
FHA is lifting the 90 day flip rule. Great news for investors and FHA buyers. Currently if an investor buys a home 9man are bought for cash on the courthouse steps) , fixes is up and lists it for sale, an FHA buyer could not buy the home until the investor had owned the property […]
Step by step directions on filing IRS Form 5405 claiming 1st time home buyer tax credit.
How to File Form 5405 To Claim First Time Home Buyer $8000 Tax Credit via ehow.com We have had many requests from our first time Stockton home buyers on how to file for their $8000 tax credit. eHow has step by step directions. Check it out! Posted via web from www.Homes-In-Stockton.com Posterous
FHA Increased required down payment and PMI requirements for riskier borrowers
In the midst of an already dire housing market, the federal government plans to impose more stringent requirements for those seeking a Federal Housing Authority-backed mortgage. Among the changes slated for FHA loans is a higher down payment requirement for borrowers with poor credit – those with a credit score below 580. Other changes include […]
Tumultuous August for loan servicers
The following is a great Blog summarizing the events of the past month and what they mean to the lending industry and borrowers. Read the full Blog here.
Loan Modifications Despite Second Lien
Regulators have sent a message to lending institutions, to not allow the fact that there is a 2nd lien on a property influence the loan modification process. Read full article here
Pending sales up for four months
Pending home sales have been rising for four consecutive months, made possible by affordable home prices and a first-time buyer tax credit, according to the National Association of Realtors (NAR). The Pending Home Sales Index, increased to 90.7 in May up from 90.6 in April, and is 6.7% higher than May 2008, when it was […]
Fannie Mae and Freddie Mac Delinquencies Increase 50% in One Month for Most Credit Worthy Borrowers!
The increase in job losses, cut incomes and too much debt is taking it’s toll on the most credit worthy of borrowers. On April 21, Fannie and Freddie reported delinquencies among this group of homeowners rose fifty percent. The number of "prime borrowers" that are 60+ days delinquent on mortgages owned/guaranteed by Freddie and Fannie […]
Stockton is Number 1.. and Not for Foreclosures!
We’re No. 1! Stockton is rated No. 1 yet again only this time it is not for foreclosures but for the resulting decline in prices from foreclosures. HGTV rated us No.1 based on annual price depreciation and area amenities. Our proximity San Francisco and Sacramento gave us an advantage over other highly depreciated markets like […]
Beware of loan modification SCAMS!
Beware of the many San Joaquin County loan modification scams currently being promoted. You should not have to pay for a loan mod. There are non-profit companies setup to help you. As the number of Stockton foreclosures increase so will the scams. Article
Home prices down 41% compared to a year ago!
California home prices are down 41% from last year. And this at a time when inventory is low and demand is at least stable. Can’t wait to see what happens to Stockton Real Estate prices as the inventory balloon bursts! Bloomberg Article
Credit Card Defaults Reach 20 Year High!
Credit card defaults are up and expected to be double digits as the economy continues to tank. Yahoo News Article
Citibank profits
I have a friend that hasn’t made a full mortgage payment to Citimortgage in a year and they have not foreclosed. Only recently have the threats of foreclosure started. Citi has been delaying the process and accepting substantially discounted payment. Maybe this is why they were “profitable” the first quarter. Stay tuned, I expect many […]
There they go again…a new bill in the House of Representatives would bring back 100% financing!
H.R. 600 is under consideration in the House of Representatives. If passed, it will restore a lending practice that was barred last year with the passing of the Housing and Economic Recovery Act of 200, seller funded down payment assistance. This type of lending is destructive for our housing market and the nation’s economy as […]