The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. 2027 South WAVERLY Dr Anaheim, CA 92802 $425,000 1519 West TONIA Ct 0.05 miles 4 bd / 2.5 ba 2,167 Sq. Ft. $549,000 2135 South HAMMATT Pkwy 0.18 miles 4 [Read More...]
FHA Streamline is a program where a current homeowner with an FHA loan can refinance into a lower rate FHA loan if they are upside down on their home. However, to do this FHA has to lower the insurance premium on this these loans. This doesn’t make logical sense because upside down home owners have the highest chances of defaulting. Basically, the risky FHA borrowers will have the lowest insurance premium. In addition, FHA is on the edge of bankruptcy [Read More...]
I pay my bills and I sure Irvine Renter does too and even Shevy. So why don’t we get “reward” for paying our bills? Right now tax money is going to loan owners that don’t pay their bills. There is a solution to this issue it’s call Strategic Default. Taxpayer funds used for some principal reductions in California By Jon Prior May 16, 2012 • 11:12am Housingwire …The effect on agency mortgage bond performance is expected to be minimal. TheFederal [Read More...]
There are several reason why this won’t happen. 1) Buyers can’t obtain a large enough mortgage even at some these values 2) Seller either owe more than the market or having a hard time short selling through the bank. 3) When in escrow the property doesn’t appraise. I took out a piece of this article to document my point. Homes for Sale Grow Scarce as Sellers Await Higher Prices By John Gittelsohn and Prashant Gopal | Bloomberg – May 15, 2012 [Read More...]
When NAr speaks you need to have two people fact check it. First, NAr needs to compare local income with local prices. Second, current buyers and owners that qualify for refinances are doing their part to lower their payments or reduce the term of the mortgage. Because banks can be held liable if they don’t properly underwrite the loans are verifying ever all income. It’s easy to say you earn $150,000 on your census, but you really earn that. NAR [Read More...]
During the bubble years when credit was easy the average Orange County mortgage skyrocketed. Now, that credit standards have been reestablished mortgage payments are returning to normal. This is having the highest impact in the more expensive homes. O.C. house payments at 10-year low May 11th, 2012, 1:30 pm · · posted by Jon Lansner Orange County homebuyers have the smallest mortgage payments in a decade. DataQuick provides The Register with a measure of the estimated house payment a recent [Read More...]
In 2010, some of the housing bulls hope that this the housing bottom and values would soon increase again. Now, in 2012 just maintaining existing values is now the bulls only hope. However, depending on federal reserve, housing programs, banks, and the economy. We might see the low slow decline in home values. Housing’s Best-Case Scenario: Bouncing Along The Bottom Says Expert By Stacy Curtin | Daily Ticker – Thu, May 10, 2012 10:38 AM EDT Home prices have hit 10-year lows, [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. 1212 East OPAL Ave Anaheim, CA 92805 $389,000 1427 East DIANA Ave 0.27 miles 4 bd / 1.75 ba 1,482 Sq. Ft. $300,000 1200 E MARA Pl 0.31 miles 3 bd [Read More...]
Why bailout? The FHA only requires a 3.5% down payment on purchase of a house. When the borrower defaults, then the federal government has to pay claims to the lender. Currently, so many claims have been paid out that the federal will need additional funding. FHA New Foreclosures Jump as Modified Loans Default By Kathleen M. Howley -// May 9, 2012 9:03 AM PT The number of Federal Housing Administration-insured home loans entering foreclosure jumped in March after half the [Read More...]
If these are GSE and HUD homes, shouldn’t these agencies have to disclose there is mold. I have feeling a another lawsuit is getting, these agencies have deep pockets. Foreclosed homes plagued by mold cover-ups Posted: 5:15 p.m. Monday, May 7, 2012 ATLANTA — A Channel 2 Action News investigation uncovered a dirty secret hiding inside thousands of bank-owned homes across north Georgia. When a bank takes over a foreclosed home it can change hands several times. Then it sits [Read More...]
In a few years I vision a “Hunger” style games for loan owners. If you are a good loan owner and pay your underwater mortgage, then the fairy mortgage banker might grant you a principal reduction. The funny thing is that you need to be at 60 days delinquent to qualify for the this program, moral hazard? BofA begins principal reduction under AG settlement By Jon Prior May 8, 2012 • 9:17am HosingWire Bank of America ($7.72 -0.24%) mailed [Read More...]
As we enter another year of home values dropping, the renting as financial option is being taken more seriously. Renting Prosperity By DANIEL GROSS May 4, 2012, 6:08 p.m. ET wsj.com “The Great Gatsby,” the pre-eminent American novel of financial ambition, overextension and downfall, offers a revealing vignette about the great American obsession: real estate. The narrator, Nick Carraway, can’t afford to buy in the rarefied Long Island world inhabited by Gatsby, and by Tom and Daisy Buchanan. But he [Read More...]
This information is significant because 1) Fannie Mae has to pay a quarterly dividend 2) it loses money so it needs to increase fees pay for their losses. No information when it will pay back US taxpayer. Fannie’s New G-fee Policy Concerns Lenders May 3 2012, 11:20AM “Rob, what is this rumor I hear that Fannie can now change our g-feeat will, with little or no notice? What if we have a large pipeline of loans, locked or closed, priced [Read More...]
Well, considering there were nearly no standards in the 00′s this is an improvement. There needs to be strong standards, down payment requirements, and credit checks. These standards help prevent real Estate Bubbles. Mortgage rates beckon but play hard to get By Polyana da Costa • Bankrate.com May 3, 2012 Mortgage rates reached new lows this week, as they continue to attract an increasing number of homebuyers and give existing homeowners a chance to reduce their mortgage payments. But that’s [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. 910 PARK Way La Habra, CA 90631 $275,000 1021 BUENA VISTA Ave 0.13 miles 2 bd / 1 ba 1,015 Sq. Ft. $384,000 531 RONWOOD 0.34 miles 4 bd / 1.75 [Read More...]
