Underwater California Home Owner’s Refinance with HARP 2.0

Underwater California Home Owner’s Refinance with HARP 2.0

Hi Brian, can I refinance my Bay Area home under the HARP program if I had mortgage insurance on my loan? The Answer; YES. This recent question I received that I think you will find the answer very helpful! The Underwater California home owner is poised to refinance into current market mortgage … [Read more...]

Is the Bay Area Foreclosure Market Making a Turn For the Better?

Is the Bay Area Foreclosure Market Making a Turn For the Better?

Foreclosure filings fell 19 percent last month versus one year ago, says foreclosure-tracking firm RealtyTrac. It's yet one more signal that the U.S. housing market may have already climbed off its bottom. Bay Area Foreclosures According to RealtyTrac, a "foreclosure filing" is any one of the … [Read more...]

California’s Underwater Home Refinance- Hope for Homeowners

California’s Underwater Home Refinance- Hope for Homeowners

If you are under water on your current loan balance in relation to your homes value in California you need to read this. If after you read this you are more confused than ever, feel free to call me. I am happy to interpret this foreign language called Mortgage Lingo. The Home Affordable Refinance … [Read more...]

Mortgage News- Fannie Freddie lowering the ceiling on the jumbo conforming loan

Mortgage News- Fannie Freddie lowering the ceiling on the jumbo conforming loan

Shopping for a high balance loan today may have just become a bit more urgent. Fannie Mae and Freddie Mac are targeting high balance conforming loans which in the Bay area go up to $729,750. This loan amount has given borrowers a huge opportunity to avoid the greater down payments and reserve … [Read more...]

FHA 3 of 4 purchases were by first-time home buyers- Benefiting the Bay area housing market

Image via Wikipedia FHA released its October Single Family Outlook report and it contains some interesting statistics. Here are the highlights: 75% of purchases funded were completed by first-time home buyers. This is the silver lining of the housing crisis. Thanks to low FHA mortgage interest … [Read more...]

Bay Area First time home buyers looking for a low down payment loan- Down Payment assistance is back

Bay Area First time home buyers looking for a low down payment loan- Down Payment assistance is back

The glass is half full for Bay Area first time home buyers looking for a no down payment loan. In a move to help Bay Area home buyers CalHFA and FHA have partnered to offer a new zero down payment home loan. The California Housing Finance Agency (CalHFA) has partnered with the Federal Housing … [Read more...]

How To Get A Zero-Cost Mortgage In The Bay Area

How To Get A Zero-Cost Mortgage In The Bay Area

Mortgage rates are incredibly low and that's why we are in a current Refi Boom. But when it comes to refinancing your home -- or buying one -- there's more than rates to focus on. You've got to watch fees, too, and from lender to lender- closing costs can be expensive. What Are Mortgage Closing … [Read more...]

THE MORTGAGE PROTECTION PROGRAM EXPIRES JUNE 30, 2010

Due to the popularity of this program, the qualifying period has been extended to June 30, 2010 or until allocated funds have depleted, whichever occurs first. On April 2, 2009 the Housing Affordability Fund launched a new program designed to provide peace of mind to first-time buyers who are … [Read more...]

2010 FHA policy change. What you need to know for the benefit of your client post short sale-

2010 FHA policy change. What you need to know for the benefit of your client post short sale-

As we leave 2009 and charge into 2010 HUD has introduced new guidelines for FHA in regards to financing after a Short Sale. Short sales are defined as the lender is accepting less than the total amount due on the property financed. Borrowers are NOT eligible for a new FHA mortgage if they pursued … [Read more...]

Bay Area Weekly Interest Rate Update- Pricing Up, trend to lock

According to Freddie Mac, the 30-year fixed mortgage rate jumped to an average 5.32% this week, from 4.91% last week. While refinancing activity has been hit by the rising rate, home purchases continue to rise. It looks as though home buyers are jumping in now, in case the rates rise further. Diane … [Read more...]