Fannie, Freddie to Announce 2009 Conforming Loan Limits - 10/31/08 07:21 PM
This week NAR reported that the FHFA, the regulator and conservator of Fannie Mae and Freddie Mac, will announce the 2009 conforming loan limits by November 7.
According to NAR conforming loan limits in some high cost areas could be reduced in 2009 unless Congress takes action.  Legislation passed earlier this year increased the conforming loan limits to $729,750.  This increase was not made permanent and could drop to $625,500 in January. NAR supports making the 2008 limits permanent.  Meanwhile, the FHFA will consider the feasibility of making the increases permanent.
For more information about NAR's position on this issue, please review their … (2 comments)

VA Clarifies New Loan Limits - 10/31/08 07:16 PM
The Department of Veterans Affairs has published a notice clarifying the Veterans' Benefits Improvement Act of 2008.  This legislation changed the VA home loan guarantee program including permanently increasing the VA loan limits. According to NAR, the VA has determined that beginning January 1, 2009 the high cost loan limit price in high cost areas including California will be $1,094,625. 
For more information please refer to the VA circular about loan limits by clicking here.


Considering Moving to the East Bay?    ~   Do you want to Buy or Sell a home?   
  Do you have clients with needs in … (0 comments)

Fremont Kicks Off Housing Element Update - 10/31/08 07:11 PM
On Thursday City of Fremont Planning Department staff held a community workshop to discuss plans for meeting the city's housing needs over the next 20 years. 
Planning consultant Don Weden made a presentation about population, energy consumption and environmental issues that Fremont residents should consider when making land use and housing plans. 
Dan Schoenholz, General Plan Update Project Manager discussed the two major issues the Housing Element will address: land use; where future housing will be located and housing affordability.  Schoenholz reported on that Fremont will need to create approximately 4,300 new housing units by 2014 to accommodate population growth.  Of … (0 comments)

Federal Home Loan Bank Sponsors Free Workshop - 10/31/08 07:04 PM
The Federal Home Loan Bank of San Francisco will be holding a Homeownership Preservation Meeting on Monday, November 3 from 1:00 - 2:30 pm.    The workshop will be held at the Santa Clara County Association of REALTORS® 1651 North 1st St. in San Jose. 
This event was organized very quickly by the FHLB in order to meet fast-approaching program deadlines.  The FHLB is rolling out the following two programs that seek to stabilize communities by preserving and increasing homeownership:
Workforce Initiative Subsidy for Homeownership (WISH):  Grants to qualified home buyers. The program is designed to help people living in high-cost areas to purchase … (0 comments)

Stop Overspending to Stay on Budget - 10/19/08 11:29 PM
In today's economic environment, many people are paying more attention to their monthly budgets than they have in a long time. One of the best ways to rein in your budget is to get a handle on your spending habits. The tips below can help you figure out where your money is going every month, and whittle down unnecessary expenses.
Taking inventory. Many people can name their major expenses, but don't remember all the little expenses that drain their wallets. To help you get a true picture of your spending, try writing down everything you spend money on during the course … (0 comments)

Fighting Medicare Claim Denials - 10/19/08 11:24 PM
When an insurance company denies a claim in whole or in part, it is possible to appeal their decision. The same is true with Medicare claims...and in fact more than half of Medicare appeals are successful. If you, a family member, or a friend have had a Medicare claim denied, the following information can help you successfully appeal the decision:
Time Frame: If your Medicare claim is denied for less than the full amount, you can ask for a "redetermination" but you must do so within 120 days. Download the Medicare Redetermination Request form at http://www.cms.hhs.gov/cmsforms/downloads/cms20027.pdf, or call 800-633-4227 to receive … (1 comments)

Medical Identity Theft - 10/04/08 10:51 PM
With identity theft on the rise these days, most of us are already taking steps to protect ourselves. But did you know that there's now a growing form of identity theft known as "medical identity theft" that can not only devastate victims' finances, but also compromise their health, too. According to Joy Pritts, JD, author of Your Medical Record Rights, here's what you need to know.
What is Medical Identity Theft?  Medical identity theft occurs when criminals access victims' medical records. Since medical records contain a person's social security number and credit card information (if bills have been paid via credit … (2 comments)

SECURE YOUR ACCOUNTS WITH STRONG PASSWORDS - 10/03/08 11:27 PM
Passwords are crucial to accessing your personal accounts and information. The problem is: We all have so many accounts that we worry more about remembering our passwords than we do about making sure they actually protect our data from hackers. So we end up using passwords like our mother's maiden name or child's first name. But even if you add a few numbers to the end, those types of passwords are easy to break. And that means your data isn't safe.
The tips below can help you avoid the most common password pitfalls and even implement a few new ideas that … (1 comments)

President signs $700 Billion Economic Rescue Bill - 10/03/08 11:22 PM
Today the U.S. House of Representatives passed the Emergency Economic Stabilization Act of 2008, which was immediately signed by President Bush. The bill will allow the federal government to purchase up to $700 billion in failed mortgages. 
According to NAR analysis, this action will create liquidity in the mortgage market and jump start home sales. The bill will require financial institutions, lenders and mortgage servicers to work with their borrowers on alternatives to foreclosure. It also will  create a new program to purchase and guarantee the troubled assets from financial institutions holding mortgages.
NAR has prepared a summary of the bill, which … (0 comments)

Day tripper with the office - 10/01/08 12:29 AM
Today my office had a special treat for a fabalous month's production....it was a reward play day.   Our destination was a surprise.  We were picked up by bus and taken to pier 39 where we boarded a catamaran  and headed to angel island.  Waiting for us on the island was a delightful picnic with some magnificant views as we dined.  We even had the deer visit with us.
After lunch we cruised around the San Francisco Bay.  The weather was perfect and a good time was had by all.

Considering Moving to the East Bay?    ~   Do you want to Buy or Sell … (5 comments)