san jose foreclosure loan: did they raise the conforming limits or not? And mortgage rates continue to worsen
- 02/18/08 12:53 PM
As part of the economic stimulus package, an increase in the conforming limit could now be a reality, at least for a brief period. Congress and President Bush agreed, but have not voted yet, on a 1-yr increase in the conforming loan limit to $730K. There is not a lot of detail yet (there is confusion as to whether the $730K, or $725, is for high cost housing areas, or everywhere, and just what high cost areas are?). Just when mortgage originators everywhere were breaking out the Cold Duck, OFHEO's director James Lockhart (Office of Federal Housing Enterprise Oversight, who oversees … (0 comments)
san jose foreclosure loan: want to buy foreclosure properties, here are some websites
- 09/02/07 08:50 AM
Psssst... wanna buy a foreclosed property? After a default and after the house does not sell at the Trustee Sale, the bank/lender owns it. As most know, this is called "REO", for Real Estate Owned. Currently mortgage companies continue selling their REO's through real estate agents, who list them on the MLS. You would probably need to make an offer through an agent, but here are some sites which list the properties: http://www.countrywide.com/purchase/f_reo.asp http://www.downeysavings.com/ffs/properties http://www.pasreo.com/reo/ (Wells Fargo) http://www.homesteps.com/hm01_1featuresearch.htm (Freddie Mac) http://www.mortgagecontent.net/reoSearchApplication/fanniemae/reoSearch.jsp (Fannie Mae) … (3 comments)
san jose foreclosure loan: loan standards are higher, new squeeze for a foreclosure rise.
- 08/16/07 07:57 PM
The most negative analysts believe that because loan standards are now much tougher, at least 10% to 15% of the people who could have qualified for a home-purchase loan last year can't do so now. Meanwhile, many of the people who would still qualify for a loan don't want to buy a house now because they think prices will fall further. So the housing market is likely to remain weak for at least another couple of years, they believe. One reason is that it takes time to absorb all the houses and condos waiting for buyers. The NAR counts about 4.2 … (0 comments)
san jose foreclosure loan: Credit problem: expensive loan
- 08/14/07 06:04 PM
Credit (borrowing) has become scarcer, rather than simply more expensive, which could affect the real economy in at least three ways. It could make the already large overhang of unoccupied housing worse, curb consumer spending, and constrain capital spending and hiring by firms that depend on external financing. And then what? Will this housing problem infect other parts of the economy? The "wealth effect" that housing in the past has brought us is almost gone in many parts of the country. Home equity helped the consumer stay ahead of the game but that has been stripped for the most part. The number … (0 comments)
san jose foreclosure loan: mod squad to save your houses !
- 04/27/07 04:07 AM
EMC, owned by Bear Stearns, set up a team called "The Mod Squad" reportedly to help homeowners stave off foreclosures as defaults by the riskiest borrowers surge. The 50 member team meets with homeowners having difficulty making their payments to try to arrange alternative payment plans to minimize foreclosures and losses to investors who buy bonds backed by the loans. According to Bear, "Wall Street banks don't want to foreclose on properties because we're not in the real-estate business...what EMC is trying to do is modify people's loan payments if they are delinquent but want to stay in their house." Starting … (0 comments)
san jose foreclosure loan: san jose foreclosure crash
- 03/22/07 08:13 PM
The number of homes entering some stage of foreclosure -- from notice of default to bank ownership -- increased 45% in January from the same period a year earlier, according to Irvine, Calif.-based RealtyTrac. I hope this isn't news to you: Another stock market crash is on its way. That's the bad news. The good news is that it isn't necessarily right around the corner. While many financial prognosticators on TV will offer opinions on when the next big crash is due, I don't feel like I'm shortchanging you with my own opinion: I don't know when it will happen. Typically, analysts … (0 comments)
san jose foreclosure loan: people who would make money in foreclosure market
- 03/17/07 04:36 PM
It is really sorry to say in foreclosure market we have a lot family's losing their house. But their are a lot of "business minded" people who have taken advantage of this distressed home owners. Just a word of caution to make sure that you need to know the people who you are dealing with.
*get a reference of the investor "buyer" *talk to an attorney *talk to your familiy member, is that the l"ast option you have". *get every thing in writing … (1 comments)
As part of the economic stimulus package, an increase in the conforming limit could now be a reality, at least for ;)
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