Long Beach, Ca.  Since this is Friday the 13th, have you ever wondered the origin of fear for this date. It can be attributed to a number of past historical events.   Something different then mortgage information that you can use at your next trivia get together.

One reference is to the Knights Templar rose to prominence in Europe between 1096 and 1307.  Their downfall came on Friday 13th October 1307.  This date saw the catastrophic destruction of the Knights Templar at the hands of King Philip of France and his puppet Pope Clement V.  Some say this event, in which the Templar's were burnt at the stake, gave birth to the superstition associated with Friday 13th.   Others have noted that you should be aware of naming your children with 13 letters in their name, they may be cursed for example, Jack the Ripper, Charles Manson.  Ok, then back to some mortgage information.

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CalHFA - Date for the return of this product is still undetermined.  Calls to their office and staff still indicate they do not know when the program will begin accepting registrations, regardless that the State budget has been passed.  And we want socialized medicine. 

2008 FHA and Agency Conventional Loan Limits – although we had a major press announcement earlier about the new FHA Loan Limits,   We have announcements from Countrywide aka Bank of America, and U. S. Bank for FHA 2008 loan limits only at this time.  We are still waiting on others.   Conventional is still on hold as people make adjustments to systems, and loan pooling to handle the higher loan amounts.  Again, our best guess is early April. 

CNBC published an interesting slideshow depicting the states with the highest foreclosure rates.  Can you guess which state has the highest rate per number of existing households with impending foreclosures?  You might find this interesting.  Anyone for a second home in the state with the highest foreclosure rate?  I am sure you will find a real bargain.  I give you a hint,  You can visit their recreational sites and come away a winner or a loser. http://www.cnbc.com/id/29655038

Kirk Mulhearn, a Long Beach Real Estate Broker co-manages Prudential California Realty, "The Bixby Knolls Office" and a Net Branch of GEM Mortgage, a direct lender specializing in FHA, VA, and Conventional financing.  Contact him at:  562-989-4608 ext. 110

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