With over 1.2 million mortgages insured, the Federal Housing Administration (FHA) looks like it’s headed for financial problems; and the Obama administration is hoping it won’t result in a bailout. The FHA currently supports around 15 percent of U.S. home loans, which is down from 30 percent in 2008.
At a possible deficit of $16.3 billion,...
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Rent Prices Up, Asking Prices Down
According to a report from Trulia, in major cities rent prices are increasing and asking prices are decreasing.
Houston leads with an increase of 16.5 yearly, then Miami and Oakland out of 25 rental markets in the United States.
However, in Las Vegas it was the other way around, asking prices moved down by 1.8 percent.
And as...
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Mortgage Rates Stay Low
Good news for home owners. According to Freddie Mac, mortgage interest rates are lower this week by 3.39% compared to 3.41 %last for strong borrowers over a 30 year period.
Refinancers looking to pay off their housing debt faster also saw a drop to the 15-year fix mortgage rate from 2.72% last week to 2.7% this...
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Buying Cheaper Than Renting?
We had to share this article with you, Call Toni Fans!
According to Forbes Magazine and the Chief Economist of Trulia, Jed Kolko buying a home is actually cheaper than renting in all of the nation's 100 largest metros -- by an average of 45%.
The...
Record Breaking Refis!
When HARP 2.0 passed in March of 2012, most were skeptical about it's effectiveness. FHFA announced Friday that from January to July of this year over half a million loans were refinanced with the program. These new numbers are on track to meet, and...
Short Sales Get Shorter
It looks like short sales may actually start living up to their name.
On November 1st 2012, as part of FHFA’s Servicing Alignment Initiative, Fannie Mae and Freddie Mac will implement new short sale guidelines to make the approval process faster and easier for...
Borrower Beware! Fraudulent Bank of America Letters
HARRIS REAL ESTATE UNIVERSITY ASD, Accredited Short Sale Designation coaches asked me to share this with you:
Fraudulent Bank of America Short Sale Letters Bank of America has notified the national underwriters that a short sale scam is being perpetrated involving properties on which Bank of America is...
The Rampture?
If you live in Los Angeles then you're familiar with the construction on the 405 that began just over two years ago. Starting this past Friday at 10 pm, the Rampture closed the westbound Wilshire Boulevard to northbound 405 on-ramp and the northbound 405 to westbound...
Where Should You Start?
For many people the hardest part of searching for a new home is getting started. Especially in today’s competitive market, it’s important to arm yourself with the right tools so that when you do find that dream home you know what to do.
Here are a...
In the Eye of the Storm
I was speaking to my colleague the other day about the “perfect storm” that’s just hit the real estate market. But like all good things, this won’t last long.
It’s a great time to sell – with the economy on an upswing, more people are ready...
