Summary of the “Housing and Economic Recovery Act of 2008" - 07/31/08 07:16 PM
It is said that this just-passed bill will help over 400,000 homeowners. With the bill itself being over 600 pages, this four page summary will explain the key provisions.
This legislation strengthens and modernizes the regulation of the housing government-sponsored enterprises – Fannie Mae and Freddie Mac (the enterprises) and the … (2 comments)
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Bush Signs New Housing Bill - 07/30/08 11:39 AM
This federal housing bill is a significant move in the right direction for California homeowners. It will aid in stabilizing our economy and help stem foreclosures, while also providing support to first-time homeowners.
The new loan limits for Fannie Mae and Freddie Mac are the greater of either $417,000 or 115 … (0 comments)
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San Diego ... The Coming Next Wave of Foreclosures or It's Far From Over - 07/29/08 01:34 PM
The first wave of foreclosures occurred due to the re-setting of some "sub-prime" loans. These loans were predominantly the 80/20 loans that were used to assist buyers to obtain property with no down payment. Later in the cycle of the origination of these loans, the documentation requirements were lessened considerably, so … (0 comments)
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Fed Approves New Rules For Mortgage Loans - 07/29/08 01:25 PM
The Federal Reserve approved new rules for home mortgage loans to protect consumers from questionable lending practices. Most of the new rules apply to subprime owner occupied home loans and go into effect 10-1-09. Two of the best of these new loans are: The lender must verify the borrower’s income and … (0 comments)
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Biggest Drop Ever For Home Prices - 07/29/08 01:20 PM
Just released May Standard & Poor’s/Case-Shiller 10-city index plunged 16.9 percent, its biggest decline in its 21-year history.
Las Vegas, Miami, Phoenix, Los Angeles, San Diego, San Francisco, Seattle, Wash., Portland, Ore., and Washington, D.C. — posted record lows in May.*To view the full post and video, please visit the San … (0 comments)
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IndyMac Bank To Be seized By FDIC - 07/15/08 01:49 AM
Worried customers lined up outside IndyMac to withdraw their money this morning. IndyMac was seized by federal investigators on Friday. The Federal Deposit Insurance Corp automatically insures customers with accounts worth $100,000 or less. IndyMac is the fifth U.S. banking company to fail this year, and the largest since the 1980s … (0 comments)
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Fannie and Freddie are a ‘disaster’ - 07/15/08 01:31 AM
"The U.S. Treasury Department's plan to shore up Fannie Mae and Freddie Mac is an “unmitigated disaster'' and the largest U.S. mortgage lenders are “basically insolvent,'' according to investor Jim Rogers. Jim Rodgers, is the chairman of Rogers Holdings, in April 2006 he correctly predicted oil would reach $100 a barrel … (1 comments)
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San Diego High Tech - 07/14/08 03:16 PM
The Scarborough Research study measured the concentration of technology users with a wide range of high-tech habits, and found San Diego to be #4 on the list for most tech-savvy cities. As reported in early May 2008, about ten percent of San Diegans made the cut, ranking above the national average … (0 comments)
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San Diego California --- WATER WISE - 07/14/08 03:12 PM
Sprinklers, hoses, pools – there are many ways to use water outdoors in the summertime. There are also countless and easy ways to conserve it. Following are a few tips for developing good H2O habits: Water your lawn only when necessary. Walk across the lawn; if you leave footprints it is … (0 comments)
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Abu Dhabi group buys NYC Chrysler building - 07/10/08 09:01 AM
The Chrysler building, an Art Deco icon of the New York City skyline, has sold to a fund controlled by Abu Dhabi for $800m.
The building, completed in 1930 for the automotive company Chrysler, was briefly the tallest building in the world. The Abu Dhabi Investment Council, a sovereign wealth fund … (3 comments)
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May Pending Home Sales - 07/08/08 01:04 PM
Just released May pending home sales were the third lowest on record. But, the real story was that even Yun could not come up with the usual positive spin. Mr. Yun said, "The overall decline in contract signings suggests we are not out of the woods by any means".
I recall … (0 comments)
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It's Always A Good Time To Buy Real Estate…right?? - 07/05/08 03:17 PM
In 2005, the media ‘talking heads’ adamantly asserted that a San Diego housing bubble was a myth. In the Spring of 2006 they said the ‘minor correction’ was over and in the Spring of 2007 said it was time to jump on the great home values. *To read the full post, … (0 comments)
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Independence Day Video - 07/04/08 12:17 PM
A Real MUST View Video
A very moving song & video by an 11 year old girl. This was done after her visit to Arlington Cemetery. Our brave soldiers are really what this holiday is all about. Without our soldiers we would not have gained of independence from England or … (1 comments)
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Global Crash Alert - 07/03/08 10:13 AM
The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks. "A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit … (0 comments)
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Increase In Existing Home Sales - 07/01/08 05:27 PM
The National Association of Realtors reported existing home sales increased to a 4.99 million-unit annual rate. But, even with this slight increase, the median national home price declined 6.3 percent from a year ago to $208,600. Paul Bishop, a senior economist with the National Association of Realtors said "Sales remain fairly … (0 comments)
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California Cell Phone Law Starts Today! - 07/01/08 05:23 PM
Two new laws dealing with the use of wireless telephones while driving go into effect today, July 1, 2008. Below is a list of Frequently Asked Questions concerning these new laws.
Q: When do the new wireless telephone laws take effect? A: The new laws take effect July 1, 2008.
Q: … (0 comments)
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