Search results for: ,freddie,mac
Friday, 4 September 2009
Sacramento-area man called the housing crash
Hats are off today to Sacramento’s Michael Choe, 43, a supervising engineer with the state Department of Toxic Substances Control. This week he earned his second appearance in Time magazine since 2005 – for making good calls in this crazed real estate market.
Choe sold high in 2004.
He rented for four years.
He bought low in 2008.
As the housing crash con...
Posted by Brian Creel at 8:01 PM in Category:
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Monday, 27 July 2009
US Home Prices have Smallest Decline in 10 Months
July 22 (Bloomberg) -- U.S. home prices had the smallest annual drop in 10 months, signaling the free fall of property values is abating in the three-year housing slump at the center of a global recession.
Prices declined 5.6 percent in May from a year earlier and rose 0.9 from April, the Federal Housing Finance Agency in Washington said today. Economists expected a 0.2 percent drop for ...
Posted by Brian Creel at 7:17 PM in Category:
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Friday, 10 July 2009
How assessor slashes property values
Home Front: How assessor slashes property values
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/2014910.html
This week the Sacramento County Assessor’s Office – and more like it across the great foreclosure belts of California – chopped property values again on nearly everything built in the housing boom.
The value slash...
Posted by Brian Creel at 9:56 PM in Category:
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Wednesday, 1 July 2009
Home Affordable refi program expanded
Home Affordable refi program expanded
Loan-to-value ceiling raised from 105% to 125%
By Inman News, Wednesday, July 1, 2009.
http://www.inman.com/news/2009/07/1/home-affordable-refi-program-expanded
Inman News
Homeowners who are up to 125 percent underwater will be allowed to refinance under the Obama administration’s Home Affordable Refinance Program...
Posted by Brian Creel at 6:15 PM in Category:
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Friday, 12 June 2009
Home Front: Lenders' phones silent as rates rise
Home Front: Lenders’ phones silent as rates rise
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1940229.html
Mortgage rates, rising quickly from near-historic lows earlier this year, are already having negative consequences in the capital region.
"All of a sudden the phones just stopped ringing," said Michael McGee, ...
Posted by Brian Creel at 5:09 PM in Category:
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Wednesday, 27 May 2009
Fannie Mae and Freddie Mac's new rules are raising appraisal costs, critics say
Fannie Mae and Freddie Mac’s new rules are raising appraisal costs, critics say
http://www.latimes.com/classified/realestate/news/la-fi-harney17-2009may17,0,5903005.story
The rules, intended to improve the accuracy of home valuations, push most large lenders to use third-party appraisal management companies.
Reporting from Washington -- How about this scenario...
Posted by Brian Creel at 4:44 PM in Category:
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Monday, 4 May 2009
Fed says more banks tighten home loan standards
Fed says more banks tighten home loan standards
By JEANNINE AVERSA
AP Economics Writer
http://www.sacbee.com/830/story/1832585.html
WASHINGTON -- A larger share of banks has made it more difficult for people to obtain home mortgages over the last three months even as demand has grown, the Federal Reserve reported Monday.
The Fed’s new quarterly surve...
Posted by Brian Creel at 5:06 PM in Category:
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Saturday, 18 April 2009
Sacramento region's repossessed home sales boom hits lull
Sacramento region’s repossessed home sales boom hits lull
ShareThisBy Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1789794.html
Published: Saturday, Apr. 18, 2009 - 12:00 am | Page 1B
Months of foreclosure moratoriums, stepped-up loan modifications and bank decisions to keep repossessed homes off the market are biting hard into a s...
Posted by Brian Creel at 9:50 PM in Category:
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Sacramento region's repossessed home sales boom hits lull
Sacramento region’s repossessed home sales boom hits lull
ShareThisBy Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1789794.html
Published: Saturday, Apr. 18, 2009 - 12:00 am | Page 1B
Months of foreclosure moratoriums, stepped-up loan modifications and bank decisions to keep repossessed homes off the market are biting hard into a s...
Posted by Brian Creel at 9:47 PM in Category:
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Wednesday, 8 April 2009
don't expect Bay Area Buyer's anytime soon
Home Front: Don’t expect those Bay Area shoppers anytime soon
ShareThisBy Jim Wasserman
jwasserman@sacbee.com
Published: Friday, Apr. 3, 2009 - 12:00 am | Page 1B
In area conversations about real estate it’s often an act of faith that a widening gap between Sacramento and Bay Area home prices might soon spark a new migration east to buy houses cheap and put an end to...
Posted by Brian Creel at 11:04 AM in Category:
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Tuesday, 7 April 2009
Home Front: Don't expect those Bay Area shoppers anytime soon
Home Front: Don’t expect those Bay Area shoppers anytime soon
By Jim Wasserman
jwasserman@sacbee.com
Published: Friday, Apr. 3, 2009 - 12:00 am | Page 1B
In area conversations about real estate it’s often an act of faith that a widening gap between Sacramento and Bay Area home prices might soon spark a new migration east to buy houses cheap and put an end t...
Posted by Brian Creel at 7:25 PM in Category:
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Friday, 3 April 2009
Mortage Rates Drop Again!!
A Record Low for Mortgage Rates, Again
Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.
Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeki...
Posted by Brian Creel at 2:52 PM in Category:
Buying PropertyLink directly to this article.
Mortage Rates Drop Again!!
A Record Low for Mortgage Rates, Again
Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.
Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeki...
Posted by Brian Creel at 9:54 AM in Category:
Mortgage & FinanceLink directly to this article.
Mortage Rates Drop Again!!
A Record Low for Mortgage Rates, Again
Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.
Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeki...
Posted by Brian Creel at 9:12 AM in Category:
Mortgage & FinanceLink directly to this article.
Mortage Rates Drop Again!!
A Record Low for Mortgage Rates, Again
Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.
Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeki...
Posted by Brian Creel at 8:30 AM in Category:
Mortgage & FinanceLink directly to this article.
Mortage Rates Drop Again!!
A Record Low for Mortgage Rates, Again
Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.
Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeki...
Posted by Brian Creel at 8:16 AM in Category:
Buying PropertyLink directly to this article.
Thursday, 2 April 2009
Are You Wondering If You Are Able To Refinance?
Recently GreatWest GMAC Professionals, are hearing from many homeowners who have found themseves in a situation they would never have dreamed of a few years ago. They had purchased their homes in good faith, and had stayed current on payments, and they managed to keep their jobs. BUT, because of declining home values brought on by the current housing crisis, they are unable to refinance and take...
Posted by Brian Creel at 8:11 AM in Category:
Mortgage & FinanceLink directly to this article.
Tuesday, 24 March 2009
Five Options for Homeowners
Five Options for Homeowners who cannot make their mortgage payment:
*Deed In Lieu- A process where the Borrower signs a “Deed-in-lieu” of foreclosure AND the lender accepts it. This action simply grants the title to the property to the lien holder (your lender).
*Foreclosure- A legal process where the secured lender takes back the property though an instrument called the “Deed...
Posted by Brian Creel at 2:24 PM in Category:
Mortgage & FinanceLink directly to this article.
Thursday, 26 February 2009
New $8,000 Credit for First Time Home Buyers
Obama: Aid 9 million homeowners Wide-ranging $75 billion plan will use government money to subsidize rates and insure servicers against falling home prices.
By Tami Luhby, CNNMoney.com senior writer
Last Updated: February 18, 2009: 10:05 AM ET
NEW YORK (CNNMoney.com) -- President Obama is
unveiling a $75 billion multi-pronged plan Wednesday that seeks to help up to 9 mill...
Posted by Brian Creel at 9:31 AM in Category:
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Sunday, 14 September 2008
Senators Call For Freeze on Foreclosures
Various news agencies in the last several days have reported that four U.S. Senators have urged mortgage companies, Fannie Mae, and Freddie Mac to temporarily halt foreclosures on loans they hold.
The lawmakers advised the new chief executives and federal regulator now running Fannie Mae and Freddie Mac. The beleaguered companies, seized by the government a week ago, should help struggling bo...
Posted by Brian Creel at 5:09 AM in Category:
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Sunday, 7 September 2008
Federal Government Seizes Control of Fannie Mae and Freddie Mac
On late Friday, the news media became abuzz with reports, the shoe had finally began to drop with regard to Fannie Mae and Freddie Mac. Articles revealing the government had conjured a plan to put the two troubled mortgage Goliaths under federal control, dismiss their top executives, while shoring the institutions up financially.
The plan would prompt one of the more sweeping government ...
Posted by Brian Creel at 8:11 PM in Category:
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Saturday, 26 July 2008
Congress Passes Housing Rescue Bill
It appears Congress has passed a housing rescue bill today hopefully saving 400,000 struggling homeowners from foreclosure. Although President Bush had originally threatened to veto such a bill, it appears he is expected to sign this measure quickly.
The legislation was passed by the Senate vote of 72-13.
Homeowners, who are unable to afford their current monthly payments will ...
Posted by Brian Creel at 5:32 PM in Category:
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Congress Passes Housing Rescue Bill
It appears Congress has passed a housing rescue bill today hopefully saving 400,000 struggling homeowners from foreclosure. Although President Bush had originally threatened to veto such a bill, it appears he is expected to sign this measure quickly.
The legislation was passed by the Senate vote of 72-13.
Homeowners, who are unable to afford their current monthly payments will ...
Posted by Brian Creel at 5:29 PM in Category:
NewsLink directly to this article.
