Slow and Uneven Market Recovery Forecast

Posted by & filed under Stockton Real Estate.

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 […]

Government Housing Program Shows Little Benefit at High Cost

Posted by & filed under Stockton Real Estate.

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 […]

Uncle Sam is Looking For Homebuyers

Posted by & filed under Stockton Real Estate.

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!

Posted by & filed under Short Sales, Stockton Real Estate.

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

Posted by & filed under Foreclosures, Short Sales, Stockton Real Estate.

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 […]

Chase violates Treasury Dept. rules when denying some loan modifications!

Posted by & filed under Foreclosures, Stockton Real Estate.

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 Increased required down payment and PMI requirements for riskier borrowers

Posted by & filed under Stockton Real Estate.

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 […]