Economic Stimulus Package-GSE/FHA Update - 02/29/08 04:46 PM
February 29th 2008As previously communicated, the President signed the Economic Stimulus Package on February 13th, 2008, and gave HUD 30 days to publish the new temporary high cost loan limits for Fannie Mae, Freddie Mac and FHA.
Key Updates/Timeline:HUD will publish temporary high cost loan limits for the GSEs (Fannie Mae … (0 comments)
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Are the Feds Fueling Inflation? - 02/27/08 11:05 PM
Fed's Expansionary Policy to Fight a Recession:Federal Reserve Chairman Ben Bernanke told Congress on February 27, 2008 that the Feds remain on the course for additional interest rate cuts, thus continuing their expansionary policy to combat recession. The Feds hope to combat recession because lower interest rates will stimulate economic activity by … (1 comments)
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Freddie and Fannie Are Able To Buy More Mortgages!!!! - 02/27/08 11:24 AM
We are getting some excitement in the credit market. The Office of Federal Housing Enterprise Oversight (Ofheo) have removed limits on the amount of mortgages Fannie Mae and Freddie Mac can buy as of March 1st, 2008. Fannie Mae and Freddie Mac will now be allowed to buy more mortgages which … (4 comments)
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Bank of America Supports Senator Dodd's Plan to Help Mortgage Crisis - 02/26/08 02:22 AM
Bank of America backs Senator Dodd's plan to buy up Loans at a DiscountBank of America officials have warned congress that up to $739 billion in mortgages are at risk of default in the next five years, and that the government intervention is needed. This is why Bank of America supports Senator … (3 comments)
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Moving a Parent into your Home? A Missing Tip!!! - 02/25/08 05:19 PM
My Number One Tip to Prepare Moving a Parent into your Home!I read an article this morning that included five tips (Consumer Reports Money Advisor which I have copied below) to prepare moving an elderly parent into your home. This article caught my attention because I may have to move my … (2 comments)
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Town Hall Theatre Fundraising Gala: Ticket Available Now!! Lafayette California - 02/25/08 02:18 AM
TOWN HALL FUNDRAISING GALATICKETS AVAILABLE NOW! 5 days only - buy your Gala tickets for $75 ($10 off!). Ticket prices up up to $85 on March 1st.
Also, purchase 5 raffle tickets for $40, for your chance to win a night's stay and spa package at the Lafayette Park Hotel! You … (0 comments)
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The Great Downsizing in Contra Costa County: Seniors on the Move!!!! - 02/24/08 12:32 AM
Senior Citizens are the fastest growing demographics in most Contra Costa cities. Us baby-boomers are just starting to get to retirement age. Now that the kids have moved out of the house, do we really want to spend all our free time cleaning and doing yard work? Do we want to … (1 comments)
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When "The Man" (in this case lady) Comes to Collect Your Mortgage Payment - 02/23/08 02:12 AM
I can imagine adebt collector or collection agency coming to my door to ask for a mortgage payment I do not have. There has to be enormous internal emotional pressures and family trumoil. The following is about a landlord but you will get the idea.
You can find AJ Nisen on … (0 comments)
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Mortgage Bailout? Don't throw the "Tax Payer" out with the Water? - 02/21/08 11:05 PM
You know the Office of Thrift Supervision (OTS - don't you like acronyms)? The OTS has authority over federal savings and loan lenders. The OTS unveiled a plan to help mortgage borrowers in trouble, but only those borrowers who hold mortgages with federal savings and loan lenders. The plan suggests their lenders … (0 comments)
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Bank of America's President Floyd Robinson Announced Project Lifeline to Help Distressed Borrowers - 02/19/08 01:19 PM
Today, Bank of America played an important role in a major national effort to assist homeowners in danger of losing their homes. Appearing with U.S. Treasury Secretary Hank Paulson and U.S. Housing and Urban Development Secretary Alphonso Jackson, Bank of America's Consumer Real Estate and Insurance Services Group President Floyd Robinson … (2 comments)
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Delinquent in Your Mortgage Payment? Don't Run! Don't Hide! - 02/17/08 07:45 PM
Are you delinquent in your mortgage payments? If you are, Don't Run, Don't Hide!
HUD and Mortgage lenders are trying to find delinquent homeowners. In particular, they are trying to find homeowners who have not returned phone calls and letters. THIS IS NOT AND ATTEMPT By LENDERS or HUD TO COLLECT or PUNISH! … (1 comments)
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Lafayette California was Named After General Marquis-de Lafayette - 02/16/08 03:24 AM
It may or maybe not be obvious, but the city of Lafayette California was named after General Marquis-de Lafayette. Last year when the City of Lafayette celebrated the Marquis-de Lafayette's 250 Birthday, a french camera crew came to the city of Lafayette and did a Video Profile. It is kind of … (0 comments)
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Taxes Taxes those Stinking Taxes in Lafayette California - 02/16/08 02:47 AM
Lafayette California:Taxes Taxes Taxes. No more Stinking Taxes. Or maybe we do need more taxes. We have the lowest number of police per capita, we currently have $24M in current road repair that needs to be done immediately, there are cries for more parking, senior living and serives, parks, and the … (0 comments)
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Generations in Jazz 8th Annual Festival in Lafayette California - 02/16/08 02:15 AM
2008 Lafayette Jazz FestivalMarch 6-9, 2008
@ Bentley School Theater (directions) and the Acalanes Performing Arts Center
Click HERE to purchase thickets!
March 6th 7:00 p.m. - Rossmoor Big Band w/ special guest performance by Mary Fettig and the Bentley Jazz Ensemble with Brian Pardo and Mic Gillette March 7th 7:00 p.m.- Jamie … (0 comments)
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Generations in Jazz Foundation in Lafayette California - 02/16/08 01:54 AM
Lafayette is considered the top destination west of the Mississippi to learn Jazz, an original American art form. Why? Because of the Jenerations in Jazz Foundation, their workshops and volunteers like Bob Athayde, Music Director at Stanley Middle School, Tom Carter and countless others.
Generations in Jazz Foundation History
The Generations in Jazz Foundation formed the … (0 comments)
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La Finestra, One Great Italian Resturant in Lafayette California - 02/16/08 12:25 AM
Yesterday was Valentine's Day. Sorry to say, I did not get my sweetie RED ROSES (she doesn't like roses anyway) but I did take her out to one of our favorite Italian restaurants, La Finestra Ristorante in Lafayette. La Finestra serves Sicilian or Sicilian influence dishes. Boy did we have a great … (0 comments)
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What is a MSA and Do I need to Know anything About it? - 02/15/08 04:41 PM
Most of know or at lease have an idea that the US is divided between the North and the South, the East and the West, by states, by counties or districts, cities, zip codes, but did you know that we are now divided by MSAs?
What is an MSA (I love acronyms)? … (0 comments)
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There Is HELP for the Delinquent Borrower! - 02/14/08 06:42 PM
I have talked with too many borrowers in the last several months that are or are about to go into delinquency. It is not an easy conversation. Most borrowers do not know what their options are. I think that walking should be a last resort. I am pretty sure that all … (7 comments)
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Don't Make Foreclosure Worse for Yourself. - 02/14/08 06:15 PM
Hey, DEFAULT is a bad situation but don't make it any worse for yourself. I talk with too many borrowers facing mortgage default. I am not an expert but I do try to steer them in the correct direction. Here are a few pointers to think about. HUD has put together … (3 comments)
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What is Mortgage Servicing? - 02/11/08 06:49 PM
Mortgage Servicing:
Mortgages [1] are typically packaged and sold to either a GSE (Government sponsored Enterprise, i.e., Freddie Mac or Fannie Mae) or to a Warehouse Lender. But when a mortgage is sold, it is typically divided in two parts:
The mortgage note itself, Mortgage servicing rights. I have already talked about mortgages, … (0 comments)
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New Contra Costa Hot Line for Social Services!!!!! - 02/11/08 01:28 PM
The New 211 Hot LineBeginning today, a new hot line lets anyone in the Bay Area who needs help with food, housing, employment or health care, can dial 211. This service has is slowly rolling out to all the bay area communities. There are six Bay Area counties who now have … (1 comments)
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Focus On Seniors: A Day Long Symposium On and For Seniors - 02/10/08 01:49 AM
The demographics overall but especially in our high cost areas are showing the average residence is getting older every year. Yes, Us baby boomers and our parents are aging. This statistic is very dramatic in our high housing cost communities because our young cannot afford to move into towns like Lafayette, Orinda, … (0 comments)
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Warehouse Lending: Will Your Next Mortgage Be Out of Large Box Store? - 02/10/08 12:31 AM
Warehouse lending is a specialized type of lending that commercial banks and other finance institutions provide to companies involved in the mortgage banking business. A loan that was closed with a finance company or the small community bank will get funded with money provided by this credit facility and the documentation will be … (7 comments)
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What or Who Are Fannie Mae and Freddie Mac? - 02/09/08 07:43 PM
Freddie Mac (FHLMC) and Fannie Mae (FNMA) are two housing government-sponsored enterprises (GSEs). These GSEs were chartered by Congress (The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 or more commonly known as The GSE Act) to create a secondary market for residential mortgage loans. They are considered "government-sponsored" … (0 comments)
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A Fund Raiser for the Town Hall Theatre in Lafayette California - 02/08/08 07:12 PM
Town Hall Theatre (THT) has been entertaining East Bay theater patrons for over 60 years and we're going to do it again on April 26th at the Veterans Memorial Building. At our "Playing Favorites" Gala, 250 guests will be entertained by Town Hall's talented actors, students and our Town Hall Singers while … (1 comments)
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Do You Want To Know How Mortgage Rates Are Determined? - 02/08/08 05:46 PM
No one simply "sets" rates. Rates are primarily determined by the market through supply and demand. The market buys and sells bonds or other debt instruments all the time. The United States (US) to fund the government has the Treasury auction debt (typically the 5, 10, and 30 year US Treasury … (3 comments)
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Surprise, Surprise, The Senate Pass Their Version of the Economic Stimulus Package!!! - 02/07/08 06:10 PM
Surprise, Surprise. The Senate approved a nearly identical stimulus package as the one passed by the House last week with an 81-16 vote. The $150 billion economic stimulus package is designed to provide a timely, but targeted boost to our floundering economy by improving liquidity and providing support for our housing … (5 comments)
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Is A Revese Mortgage in Your Future? - 02/06/08 11:20 PM
I, along with the rest of us baby boomers, am getting close to retiring. Some of us baby boomers already have retired. The oldest of the 76 million baby boomers will be turning 62 in 2008. I hope that a lot of us baby boomers have prepared for this event. But, … (5 comments)
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Update on Stimulus Package - Will it Affect the California Mortgage Market - 02/05/08 02:14 PM
The fiscal stimulus bill passed the House last week and the Senate's version most likely will be voted on tomorrow. If the senate passes their version, any differences between the two bills will need to be worked out between the house and the Senate before the bill would be presented to … (0 comments)
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In Default? The Lender-Borrower Relationship - 02/05/08 01:23 AM
What is the relationship between the lender and the borrower as a mortgage goes into default. There is a lot of confusion on this by both the borrowers and real estate professionals. I hope this helps explains a little of the lender-borrower relationship.
The Mortgage and Deed of Trust:First, mortgage contracts in … (2 comments)
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Stimulus Packate Status with Respect to FHA and New Conforming Limits - 02/04/08 05:24 PM
We are still waiting for the Senate and House Banking leadership to resolve the contested items:
FHA Mortgage Limit Increase:New Conforming Limit Increase:FHA Mortgage Limit Increase:
The current thought is the FHA mortgage limit increase will not be permanent. The House version of the FHA bill is currently not attached to the stimulus … (3 comments)
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A Quiet Lunch at Cherubini's Coffee House in Alamo California - 02/04/08 11:47 AM
Cherubini's Coffee House brings back that 1930s feel when Alamo was just a small town. Cherubini's is tucked into the back of Alamo Square. Cherubini is a charming cafe and antique furniture shop, decorated in the style of a 19th century apothecary. Cherubini's is a morning gathering spot for regulars to relax … (1 comments)
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Will 0ver-$417,000 Mortgage Rates be Lower? - 02/03/08 01:57 AM
Not all news about the new stimulus package is what it seems to be. With respect to the projected new conforming mortgage limits, the word is that the Bond Association is insisting that when and if new FNMA limits go into effect, that all FNMA securities be segregated by those under … (1 comments)
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Viva Cucina, a new "Hands on" Cooking Class in Danville California - 02/03/08 01:44 AM
I just tried a new cooking experience in Danville called Viva Cucina. Viva Cucina is the creation of owner Barbara Kelly. Viva Cucina is a new hands-on cooking class in Danville, Ca. where you "learn to cook up some fun" with owner, Barbara Kelly, in her kitchen or yours, in a … (0 comments)
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Forli, One of the Finest Italian Restruants, Loacated in Alamo, California - 02/01/08 09:29 AM
Forli Ristorante & Bar3160 Danville BlvdAlamo, CA 94507(925) 820-1711
Owners: Gabriele Davanzante and Russ Belleci
Forli is a great Italian restaurant in Alamo. With Forli, you really do not have to go to Itality to have great Italian cusine. Forli is what I always think of when I picture an Italian restaurant in my mind: … (0 comments)
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Gigi, A Restaurant you should Try in Lafayette, California - 02/01/08 12:01 AM
Gigi's
Chow's former executive chef, Jeffery Amberhas opened his own restaurant in Lafayette, Gigi. Jeff bought Kaffee Barbara, an Icon in Lafayette, who finally closed its doors. Gigi, located on Brown Ave. in a small house in the Forge and where Jeff has turned it into his own: a place … (4 comments)
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