Does your Mortgage Professional Attend the Signing Appointment? - 07/31/08 08:49 PM
We attended a signing appointment last week and we were surprised to hear from the Buyer's real estate agent that very few Mortgage Professionals attend her signing appointments. In fact, she said in her 15 years in business, only two had attended and we were one of them.
It is funny, when … (6 comments)
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Freddie Mac extends foreclosure periods and loan modifications are encouraged! - 07/31/08 06:38 PM
Freddie Mac made changes today that will effect how Sacramento foreclosures are dealt with as well as loan modifications!
Here is a highlight of those changes:
The standard foreclosure period for their loans has been extended from 120 - 150 daysEffective for all foreclosure referrals occurring on or after August 1, … (1 comments)
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President signs the Housing and Economic Recovery Act of 2008! - 07/30/08 11:29 AM
You may have heard about this new bill and the speculation around if the President would sign it or not. Well this morning ... it is official!In a future post I will break down each of these items to give you further details. For now here are some of the provisions … (0 comments)
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No more BBQ's for California rental units ( 3 units and above)? - 07/29/08 04:11 PM
New regulation prohibits the use of most Barbecues at Apartment Communities
There is a new regulation that took effect this year enforced by the local fire departments in the Sacramento region reads as follows:
2007 California Fire Code, Section 308.3.1 - Open-flame cooking devices
Charcoal burners and other open-flame cooking devises … (0 comments)
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Foreclosures Rise 14% in 2nd Quarter 2008 - 07/25/08 03:55 PM
Foreclosures Rise 14% in 2Q
Nearly 740,000 foreclosure filings were reported nationwide in the second quarter, up almost 14% from the level recorded in the previous quarter and 121% from that of a year earlier, according to RealtyTrac, an online foreclosure marketplace based in Irvine, Calif.
The nation's quarterly foreclosure rate … (0 comments)
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FHA new risk-based pricing structure on hold? What! - 07/25/08 03:49 PM
The Federal Housing Administration section of a massive housing bill is causing heartburn for lenders because they will have to abandon a newly implemented risk-based pricing structure.
The Department of Housing and Urban Development mandated implementation of the RBP structure by July 14, but the housing bill imposes a 12-month moratorium … (4 comments)
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Paramount Equity May be in Trouble! The state of Washington has filed suit - 07/24/08 04:15 PM
Paramount Equity May be in Trouble!
Come on... you must know who these guys are!
They advertise on many Sacramento area radio stations and in a ½ hour drive you could probably hear 2-3 of their radio spots.
Does this ring a bell?...
" I am Hayes Barnard, owner of Paramount … (0 comments)
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Sacramento Home Sales Recorded in June 2008 by zip code - 07/24/08 11:58 AM
Thought these numbers might interest you!
Reporting resale single family residences and condos as well as new homes. % Change is from the same month last year at the Median Price. Sales include all attached and detached homes, both new and resale, including FSBO, family transfer and out of area sales. … (0 comments)
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Things to do this weekend in Sacramento! - 07/24/08 11:50 AM
Sacramento
July 25th-27th~California State Home & Garden ShowFri. 12pm-7pm, Sat. 10am-7pm & Sun. 10pm-5pm. Sacramento Convention Center. (1400 J St). Find everything from home improvement to solar to eco-friendly landscaping and cooking demonstrations under one roof. Register to win a $25,000 solar system. Trading Spaces designer Frank Bielec is offering free … (0 comments)
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Ban expected on Nehemiah down-payment program according to the Sacramento Bee? - 07/23/08 04:05 PM
Any agent hoping and praying that down payment assistance programs for FHA will remain in place...
Well, good luck According to a Sacramento Bee story, a key program is likely to be shut down this week per Nehemiah Corp. of America officials. The nonprofit giant believes Congress and President Bush will … (7 comments)
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The Sacramento Rental Owner's Expo was a success! - 07/23/08 03:20 PM
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We wanted to post some pictures from the Rental Owners Expo this weekend! … (0 comments)
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Wachovia wholesale is no more! - 07/22/08 02:59 PM
Got an Alt-A loan, maybe a jumbo? Well, cross Wachovia wholesale off of your list. "Wachovia Mortgage has evaluated its business model and decided to reposition its mortgage business. Going forward, they will primarily focus on customers who have relationships with the bank, and who are located in geographies where Wachovia … (1 comments)
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Video: Freddie and Fannie may be in trouble and Indymac has closed their doors. What does this mean to you? - 07/16/08 06:19 PM
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Last Chance to Register for the Sacramento Rental Owners Expo! - 07/15/08 12:26 PM
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Risk-Based Premiums for FHA Mortgage Insurance - Effective 7/14/08 - 07/10/08 03:15 PM
Effective with new FHA case number assignments on or after July 14, 2008, FHA will implement risk-based mortgage insurance premiums on one to four unit single family mortgages.
What does this mean?Previously FHA put every borrower in the same category and charged a 1.5% upfront mortgage insurance fee and then a .5% … (1 comments)
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Indymac no longer accepting loan applications - 07/07/08 04:50 PM
In a letter dated today to shareholders, Indymac's CEO states...
"In this very difficult and challenging environment, any of the actions that we take to keep Indymac safe and sound unfortunately have negative consequences to some important constituency. As we stated in our financial update on May 12, 2008, we have … (5 comments)
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Wachovia no longer offers Payment Option Arms - 07/03/08 04:46 PM
Wachovia Corp., the nation's largest payment-option adjustable-rate mortgage lender, said Monday that it would no longer offer the "negative amortization" option on the controversial loans. In the fourth quarter, Wachovia funded $5.5 billion in option ARMs, according to the Quarterly Data Report, a 44% decline from the level of a year … (4 comments)
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Things to do this Weekend in Sacramento! - Enjoy your 4th of July! - 07/02/08 10:46 PM
Looking for something fun to do in Sacramento this weekend ... try out some of these ideas!
Sacramento
July 4th~Sacramento Independence Day Celebration6pm.Cal Expo (1600 Exposition Blvd). The Independence Day Celebration is a family oriented collection of activities focused around our Nation's birthday. In addition to the spectacular fireworks display, the … (1 comments)
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Join us on July 19th for the Sacramento Rental Owners Expo! - 07/01/08 09:11 PM
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New Cell Phone Law in Sacramento - Don't Get Caught! - 07/01/08 12:46 PM
NEW CELL PHONE LAWS IN SACRAMENTO
This new law goes into effect as of July 1st! Make sure you pick up a wireless headset at your local electronics store so you don't get a ticket!
SACRAMENTO DRIVERS 18 AND OVER
Q: When do the new wireless telephone laws take effect?A: The … (2 comments)
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