Real estate blog entries tagged with freddie mac by American Pacific Mortgage- Karen Cooper, Oregon & California

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freddie mac: Out With The New/Old, In With The Old/New…Oh Whatever! - 11/03/09 06:31 PM

2008 and 2009 have been phenomenal funding times for FHA loan financing for buyers purchasing real estate. This is because FHA guidelines are broader, making this financing tool more suited to today’s homebuyers’ needs. FHA guidelines allow the buyer to receive gift funds for their down payment/closing costs, which is what … (2 comments)

freddie mac: Note To President Obama/Senate Banking Committee – It appears Not Everyone Is Onboard With The Home Affordable Programs - 05/08/09 05:15 PM

Here it is a month after the Home Affordable Programs got up and running. Well, more like a week, since many lenders did not come out with the pricing on the Fannie Mae DU Refi Plus until within the past couple of weeks, and only a few are coming out with … (6 comments)

freddie mac: Riding the Roller Coaster of the Home Affordable Refinance Wave - 04/15/09 09:42 AM

I shouldn't be surprised by the ebb and flow in this business. Real estate markets have always been cyclical, driven by local economic forces and demands. Driven by migration trends related to those demands and forces. Driven by Acts of God. I know this - I've EXPERIENCED these many times over!
But … (0 comments)

freddie mac: Plan B for Rogue Valley Sellers - Rent Out Your Current Residence In Order To Purchase Your New One? (Part 4 of 5) - 11/18/08 04:11 PM

Maybe you don't need the equity from your present home in order to purchase the next one. In this case, I don't think Pros & Cons are needed, just a "congratulations - good for you"! There have been some underwriting guideline changes that you will need to know about if you … (3 comments)

freddie mac: Distressed Homeowners Frequently Asked Questions - 11/11/08 04:14 PM

In conjunction with the Blog Post "Distressed Homeowners, More Help Is On The Way", here are some questions and answers:
Q. Can I apply even if I'm not 3 months or more behind on my mortgage payments?
A. Not for this program, but there may be other options available to you. Call your lender … (2 comments)

freddie mac: Distressed Homeowners, More Help Is On The Way - 11/11/08 04:07 PM

Do you own a home, one you have been struggling with making the payments on? Have you given up hope of keeping your home, and stopped making your mortgage payments? Is it your wish to be able to stay in your home, if only the payments on it were more affordable?
… (4 comments)

freddie mac: 2009 Conforming Loan Limits Are Changing - 11/07/08 12:37 PM

In order to help stimulate sluggishness in the high cost real estate markets, Fannie Mae and Freddie Mac had increased their loan limits for the second ½ of 2007 and for 2008 to $729,750. Based on declining values, they are adjusting these limits downward accordingly.

The new * Agency High … (2 comments)

freddie mac: U.S. Home Buyers – Can We Talk? - 10/22/08 06:11 PM

Federal Housing Finance Agency Mortgage Metrics Report was released today, including the Real Estate Owned (REO) Acquisitions. During first quarter 2008, REO acquisitions averaged 10,054 per month with 5,406 classified as prime and 4,648 classified as nonprime mortgage properties. Sounds pretty horrible, doesn't it?
Do the numbers released today by the … (4 comments)

freddie mac: Freddie Mac 100 Program Elimination Reflects Continued Tightening in Credit Criteria - 03/10/08 02:56 PM

For First Time Home Buyers in Southern Oregon, I typically recommend the Oregon Bond CashAdvantage program when the buyers lack a down payment, so the elimination of the Freddie Mac 100 program will not have much effect on my business practice. I received the following today from one of the lenders:
"ELIMINATION … (2 comments)

freddie mac: Effective Today Fannie Mae's Declining Markets Reinstated Guideline Takes Effect - 01/15/08 01:48 PM

Well, today is the day. Loan Applications dated January 15, 2008 or later may be subject to this reinstated regulation. Freddie Mac, VA and HUD have all posted similar notifications, making Fannie Mae the last one to the table on this issue. I'm finding that with a such a wide-based and undefined … (9 comments)

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