The Federal Reserve’s program to buy Mortgage Backed Securities (MBS) will end on March 31, 2010.
Many analysts believe this will cause mortgage interest rates to increase.
While there are many different opinions on where mortgage rates will increase to, the general consensus is 5.5% to 6%.
For more information, please review Paul Smalera’s post in the CBS […]
Entries Tagged as 'Real Estate Finance'
How high will interest rates go?
March 8th, 2010 · No Comments
Tags: Credit Information · Real Estate Finance
A short sale does not mean you do not owe the lender any more money
April 30th, 2009 · No Comments
Many homeowners believe that if their lender agrees to a short sale, they have no further obligation to the lender.
This is not true!
As the Wall Street Journal reports today, many lenders are being more proactive about going after homeowners for the remaining unpaid balance on loan. For example, if the mortgage balance is $400,000 and the […]
Tags: Foreclosures · Short Sales · Credit Information · Real Estate Finance
Understanding the tax implications of a short sale
April 30th, 2009 · 5 Comments
I have written several posts advising homeowners in trouble with their mortgage to consult both their attorney and their CPA before agreeing to a short sale.
The Wall Street Journal has written a good post highlighting the potential tax impacts of doing a short sale.
Homeowners could be tax on the gain in their property even if […]
Tags: Foreclosures · Short Sales · Real Estate Finance
Do any of these government mortgage relief programs work?
April 1st, 2009 · 1 Comment
I have generally been pretty skeptical about whether any of these much talk-about government programs will actually help any homeowners? Are these programs just more of the “promise a lot, deliver a little” that we seem to get out of Washington DC the past 10 years or will they actually help people.
I like to stay […]
Tags: Short Sales · Foreclosures · First-time home buyers · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
Is the real estate market approaching bottom?
March 29th, 2009 · No Comments
The Sf Chronicle often paints a fairly bleak picture of the local real estate market.
However on today’s front page, the San Francisco Chronicle reports on some postive movement in the market.
The SF Chronicle reports that the Bay Area median price is around $300,000 and that with a Bay Area median income of $80,000, one can […]
Tags: First-time home buyers · Foreclosures · Investment Real Estate · Real Estate Finance
Is there a slight uptick in the real estate market?
March 25th, 2009 · 1 Comment
Kappy Mann, a colleague in Truckee Lake Tahoe recently posted an article from Rueters that states many people are entering the market for the first-time since ownership costs are now approaching rental costs in some areas of the country.
Combine low interest rates with lower housing prices, add in federal and possibly state tax credits and […]
Tags: First-time home buyers · Helpful Sites · Real Estate Finance
Obama Home Mortgage Rescue Plan part 6
March 23rd, 2009 · No Comments
One of the things President Obama promised was greater use of the internet to make information about government programs and activites more accessible to the general public.
The MakingHomeAffordable website is now up and runnning.
This is a very useful site which will help homeowners determine if they are eligible for either the refinance plan or the […]
Tags: Short Sales · Foreclosures · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
Obama Home Mortgage Rescue Plan part 5
March 4th, 2009 · No Comments
Obama’s plan contains 2 main parts:
1. Refinance options for loans that are up to 105% of the current market value of the home.
2. Loan modifcation programs for people where option #1 does not apply and they are having a hard time making the monthly payments.
Obama has named the plan #1 - Making Homes Affordable.
Katie Curmutte, […]
Tags: Short Sales · Foreclosures · Pending Legislation · Credit Information · Sub-Prime Mortgage Issue · Helpful Sites · Real Estate Finance
More info on new California $10,000 tax credit
March 2nd, 2009 · 1 Comment
In an earlier post, i wrote about a recently passed California State Franchise Tax Board $10,000 credit for the purchase of a NEW principal residence. This credit is available to all purchasers of a NEW house or condominium.
Kappy Mann from beautiful Truckee Lake Tahoe area (where I will be going for a week of skiing […]
Tags: Pending Legislation · Credit Information · Helpful Sites · Real Estate Finance · Inspiration
Regulations and Forms available for $8000 first time home buyer credit
March 2nd, 2009 · No Comments
Diane Tuman of Zillow provides all the latest info on this credit.
I have recently represented a young first-time home buyer who got into contract on an REO prior to the passage of the stumulus package but they closed after the package becoming law so they will receive the $8,000 credit. That was an unexpected and […]
Tags: Pending Legislation · Foreclosures · Credit Information · Real Estate Finance · Real Estate Data · Inspiration