financial news: Buyers Beware of Predatory Lenders - 10/04/08 01:56 PM
Predatory lending is still out there and buyers need to be aware.
One of my clients decided to go with the services of a nice young man who contacted her by phone. He promised her a low interest rate along with many other enticements. She contacted me long after she had … (20 comments)
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financial news: First American Title in Crescent City, another casualty of the financial crisis - 09/28/08 12:20 AM
Thursday started out as usual, but my quick jaunt to First American Title to drop off some paperwork ended in disbelief when I was told that they were closing their doors next Tuesday, October 1st.
Unfortunately, the downturn in the economy is effecting all aspects of the housing industry, not just lenders … (3 comments)
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financial news: Brother, can you spare an $85 billion bail out? - 09/17/08 01:58 AM
Some would say our economy resembles a house of cards. You certainly get the feeling after reading this press release:
The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend up to $85 billionto the American International … (8 comments)
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financial news: How will the Lehman Brothers Bankruptcy Affect You? - 09/15/08 10:33 PM
My husband called me at work today and asked if I had heard the news? I wanted to sound intelligent, but no, I hadn't heard any news all day. I had been sitting at my computer trying to optimize my listings and assist buyers.
He told me that Lehman Brothers had filed bankruptcy and … (2 comments)
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financial news: Crescent City/Del Norte County: The Case Against Waiting to Buy - 03/13/08 12:50 AM
Crescent City/Del Norte County, and every other market, here it is, a convincing reason to buy a home.
I read a wonderful article in Time magazine 2/25/08 edition. What I liked about it is it doesn't deny the housing market is in the toilet, but still finds a way to convince that it … (11 comments)
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financial news: Download Free Debt Reduction Calculator - 03/01/08 12:04 AM
Here are the top articles in the California Association of REALTORs recent email newsletter:
HOME SALES DECREASE 29.8 PERCENT, MEDIAN PRICE FALLS 21.9 PERCENT
DEBT RELIEF BILL CLEARS KEY SENATE COMMITTEE
CONSUMER CONFIDENCE INDEX DECLINES 12 POINTS IN FEBRUARY
FORECAST CALLS FOR SLOW GROWTH FOR CALIFORNIA
REBS® RELEASES 2007 STATE OF THE HOUSING MARKET REPORT
I'm sure … (5 comments)
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financial news: How Do Californian's Afford a Home? Good Question - 02/20/08 10:54 PM
I was reminded in the comments of my previous post that prices are not declining everywhere in the U.S.
My reply to that is that I write about my market, and in my market, and ALL of California, prices are falling. Here are some sobering statistics:
Median fourth-quarter (2007) metro area single-family … (8 comments)
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financial news: Do We Bail Out Subprime Victims? - 02/01/08 01:05 PM
To bail out home owners or not to bail out...that is the question.
You get several different answers to that question depending on who you listen to.
The FBI said it is investigating 14 corporations over possible accounting fraud and insider trading violations in a crackdown on subprime lending.
John McCain says "greedy people"on … (49 comments)
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financial news: Daniel Mudd, Fannie Mae President & CEO Talks About CA's Foreclosure Crisis - 01/29/08 10:11 PM
Below are exerpts from Daniel Mudd's recent conversation with the San Francisco Chronicle regarding California's Foreclosure crisis.
Fannie Mae buys and packages billions of dollars of mortgage loans for resale in secondary markets, which helps to keep interest rates low.
Causes of the current foreclosure crisis:
For a period of time the market … (1 comments)
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financial news: California's Foreclosure Crisis - 01/26/08 03:10 PM
Many California home owners are indeed melting into a foreclosure crisis.
I have read many posts lately about keeping things positive. If you are one of the *84,375 California residents who had their home repossessed by their lender in 2007, I think you would agree, a positive spin on the situation is hard … (8 comments)
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financial news: Market and Economic Predicitions for 2008 & How it May Effect Del Norte County - 01/04/08 03:18 PM
Predictions for 2008 by Fran Gatti ~
Below is a quote from a N.A.R. (National Association of REALTOR's) newsletter I received via email on January 2.
"As we kick off another year "All Together," it is easy to get caught up in news about what is wrong with the real estate market. … (7 comments)
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financial news: Protect Yourself from Mortgage Fraud - YouTube Video by Freddie Mac - 12/27/07 12:47 AM
YouTube Video by Freddie Mac: Protect Yourself from Mortgage Fraud Please take a minute to watch this video so you will be cognizant of this scam. These fraudsters like to prey on the elderly; let's all do our best to ensure that doesn't happen!
Del Norte County is The Other California. Why? … (8 comments)
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financial news: Get Out Of Debt in 2008 - 12/19/07 06:47 PM
Is there anyone out there who isn't feeling the financial pinch right now?
Not in my sphere of friends, family and associates, but I'm guessing the people who aren't feeling the pinch are quiet about it (they don't want to make the ones like me feel bad. Thank you for that).
Anyway...I … (30 comments)
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financial news: What the Bush Foreclosure Plan Means for Home Owners - 12/19/07 06:02 PM
What the Bush Foreclosure Plan Means for Home Owners - The government's plan to aid as many as 1.2 million home owners who are facing foreclosure.
Interest rates that qualify under this plan: You must have received a loan sometime between Jan. 1, 2005, and July 31, 2007, and be facing a reset … (9 comments)
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financial news: Contractor Finds $125,000 in Floor Boards of Home...Another Reason to Remodel - 12/17/07 05:53 PM
In my continuing series on remodeling, I have extolled the virtues of adding value to your home by making it a more user friendly place for you, the home owner to live, while increasing your homes desirability for resale.
Here is another reason you may want to consider a remodel, but only if … (12 comments)
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financial news: Now Is a Great Time To Be a Buyer! Why... - 12/01/07 12:39 PM
If there's one question REALTORS are getting asked more than usual these days, it would be, "Do you think the market is going to continue to decline (or tank as some people put it).
The level of anxiety in their face is in direct correlation with which way they want the marekt to … (14 comments)
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financial news: C.A.R Reports Housing Declines for CA...How Does Del Norte County Stack Up? - 11/29/07 03:43 PM
C.A.R. (California Association of REALTORS® reports in their on-line news release dated 11/28/07 that homes sales in California decreased 40.2 % compared to the same period a year ago.C.A.R. also reports that the median price of existing homes fell 9.9%. By comparison, sales activity in Del Norte County for the … (3 comments)
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financial news: FHASecure May Be Able to Assist You When Your ARM Resets - 11/28/07 11:37 PM
FHASecure may be able to help you with your house payment.
FHASecure is a new program from the Federal Housing Administration (FHA). The program is meant to assist homeowners with an impending ARM reset refinance their mortgage into a fixed-rate loan.
To qualify for FHASecure, eligible homeowners must meet the following … (2 comments)
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financial news: Solutions for the Troubled Housing Market According to Forbes.com - 11/24/07 01:08 AM
How do you fix a troubled housing market? Forbes.com asked real estate experts who said there are solutions:1. Restore investor faith. "Mortgage fraud, by both borrowers and insiders, must be identified and prosecuted in order for faith to be restored in the market," says Anthony Sanders, professor of real estate finance at … (13 comments)
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financial news: Fiscal Disaster - The government's top watchdog warns of a coming catastrophe - 11/15/07 04:05 PM
Fiscal Disaster - The government's top watchdog warns of a coming catastrophe
David Walker, a former partner at Arthur Andersen LLP, has been the comptroller general of the United States and head of the Government Accountability Office since he was appointed to a 15-year term in 1998.
The GAO is a nonpartisan agency … (9 comments)
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