The much-anticipated – and much-criticized – foreclosure settlement worth $25 billion between five major lenders and the states was finally signed this week, but even though over 40 states put their names on the dotted line, there are still a handful of states that refuse to sign. A review of these holdout states does not [...]
Tag Archives: california
Bank of America USDA Rural Home Loan Approvals: Has BofA Quit Funding USDA Loans?
I have been getting calls from local real estate agents and prospective home buyers in Riverside County of California asking me if Bank of America is still approving USDA Rural Development home loans. For weeks I kept saying yes, I think so…..why wouldn’t they? Why would Bank of America discontinue offering USDA home loans in [...]
$700,000 VA Loan Limit in Orange County, CA Remains through December 2011
The 100% VA financing loan limit in Orange County, CA has been $700,000 since January 1, 2011. While Conforming and FHA loan limits will be dropping from $729,750 down to $625,500, the high VA loan limit will remain in place for the last three months of 2011. If what is happening with Conventional and FHA [...]
How an Asset Depletion Mortgage Helps California Homebuyers Qualify for More
An Asset Depletion loan will allow wealthy California homebuyers to qualify for loan amounts that they would otherwise not qualify for based on traditional underwriting standards. While traditional underwriting standards will only look at income shown on the most recent two years tax returns, there are now programs, like Asset Depletion qualifying, that will give [...]
California Foreign National Mortgage Loans
Foreign Nationals purchasing California homes are being offered more options for home financing in 2011 than in recent memory. Finally! Although Conventional and Government (FHA and VA) mortgage guidelines tend to be tightening, there are Portfolio lenders stepping up and offering “makes sense” home loan programs. A Foreign National is someone who visits the United [...]
Requirements For Eligibility On San Diego VA Loans
Understand the VA loan requirements and what affects eligibility for a San Diego VA mortgage.
Housing Starts Rise, Builder Confidence Remains Stable
Housing starts rose 14.6 percent in January to a seasonally adjusted annual rate of 596,000 from December when housing starts were an estimated 520,000, but they were 2.6 percent below the January 2010 rate of 612,000, according to the latest figures released by the U.S. Commerce Department. However, permits for new construction fell 10.4 percent [...]
Survey Reveals Consumer Confusion about Mortgage Process
More than two-thirds of Americans (70.6 percent) believe access to affordable mortgages is a serious problem, according to a new survey by MortgageMatch.com. Respondents also say that the most challenging aspect of getting a mortgage is understanding the mortgage process and dealing with the lenders’ requirements, ranking it more challenging (32.3 percent) than getting the [...]
Professional Guidelines Between An Inland Empire Real Estate Agent and Loan Officer
As an Inland Empire Loan Officer, I have been extremely blessed to have some wonderful relationships with many different Inland Empire Real Estate Agents over the years. I recently had a transaction start a little bumpy. I believe most of these bumps could have been prevented if a simple set of professional guidelines were followed [...]
Jumbo Loan Financing is Making a Comeback in Southern California
Jumbo loan financing has been making a slow comeback in California, which is good news for many home buyers that are looking to take advantage of significantly reduced prices on luxury homes.
FHA Streamline Refinance Without Appraisal
California FHA Streamline Refinances without an appraisal just got easier to accommodate. Since November 17 2009, Streamline FHA refinances have had traditional guidelines – prove income, provide tax returns, make sure the debt ratios are in line amongst others. As of June 9, 2010, many investors have informed their lenders that those guidelines have eased [...]
Foreclosed homeowners could owe ‘tens of thousands of dollars’ to lenders
Facing the possibility of foreclosure, California homeowners may be hit with more than just losing their homes. Due to a loophole in state law, they also can be sued by their lender. To prevent this, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) is sponsoring Senate Bill 1178 by State Sen. Ellen Corbett (D-San Leandro), which will [...]
How to Apply For or Reserve Your California First Time Buyer and New Home Credit
As of May 1, 2010 the frenzy for California’s First Time Buyer and New Home Credit began. This is first come, first serve territory, so you’d better get your applications and reservations in quickly. Everyone has been anticipating the credit, now it comes down to following guidelines, filling in the paperwork correctly, having the appropriate [...]
A Complete Guide to the California Homebuyer Tax Credit – Live Webinars!
There is a lot of misinformation out there about this tax credit and I’ve gotta tell you, this is just shy of rocket science…ok, maybe not that bad, but close. California Tax Credit Webinar with Live Q&A – See Schedule of Online Classes We have been doing live online classes all week and I have [...]
Guidelines for 2010 Tax Credit for New Home and First Time Home Buyer Released
California’s first time home buyer and new home tax credit for 2010 guidelines are now posted on the Franchise Tax Board’s website. This is an update to last week’s post on the California tax credit extension. I will concentrate on answering several questions that have been raised and provide a few popular scenarios that many [...]
$10000 California First Time Home Buyer and New Home Tax Credit Extended
Governor Arnold Schwarzenegger’s proposal to extend the $10,000 first time home buyer tax credit has been passed by California Legislature. The tax credit would begin May 1st, 1 day after the Federal Tax Credit ends April 30th. The previous California tax credit limited to a total of $100 million for new home purchases only was [...]
FHA 90 Day Flip Rule Waived in California
HUD just gave a nice boost for California FHA insured mortgages. The 90 Day Flip Rule that hindered FHA buyers and certain home sellers from going into contract together has been temporarily waived for 1 year. Starting February 1, 2010, a home purchased by a LLC, Trust or by owner within the last 90 days [...]
FHA Cashout Refinance Guidelines Prove Helpful for Orange County Homeowners
The FHA cashout refinance guidelines are allowing Orange County homeowners to refinance to low 30 and 15 year fixed rates. Especially for those homeowners who owe more than $417,000 on their home, FHA guidelines are far more lenient than the standard Fannie Mae guidelines. FHA underwriting guidelines are more flexible when it comes to loan to value, [...]
$729,750 Loan Limits for FHA, Fannie Mae and Freddie Mac Extended through 2010 for Orange County, CA
There was great news this week for Orange County, CA home owners and home buyers as Congress agreed to extend the “high” loan limits for another year. On October 29, Congress announced the limits would remain in place through the end of 2010. Only 2 years ago the maximum Conforming loan limit for Orange County [...]
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Rob@Jupiter Real Estate: In Florida we have many condos located on oceanfro...
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Larry: It should almost be a necessity to have a swimming...
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New Media 4 Agents: I think we are past the stage of wondering if it w...
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Jim Wagoner: Good information we all should try to live by....
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Mike Pannell: Tony, i tried to sign my Wife up on your property ...
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$10000 California First Time Home Buyer and New Home Tax Credit Extended
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Unite Against the Sarasota MLS Board
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Short Sale Heaven Coming April 5th 2010
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The Lones Group – Real Estate Social Media Marketing Firm – Sues Agent For Being A Zebra
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California Senate Bill 94 (SB94): Passes; Not even Attorneys can do it!
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