February 2009 - Posts
Freddie Mac reports an increase in the 30-year fixed mortgage rate to 5.07 percent for the week ended February 27, 2008 Rates rose slightly, from 5.04 percent the prior week. The five-year adjustable-mortgage rate rose to 5.06 from 5.04 percent over the
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SB 15XXX, a $10,000 Tax Credit for new construction home buyers’, approved in California's long awaited state budget, plus a Federal Tax Credit of $8,000, allows for a massive homebuyer tax credit of $18,000.00. SB 15XXX, the homebuilder sponsored
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Home sales in the San Diego area are sizzling as bargain hunters snap up the region's lowest prices in years. The San Diego Association of Realtors reports home sales soared by 139.4 percent in the San Diego area in January, compared with the same
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Fannie Mae and Freddie Mac are both toughening their credit score and down-payment rules as of April 1, 2009. In response, major lenders are already factoring in the higher fees, which reduce the effectiveness of the stimulus efforts. Under the new guidelines,
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Mortgage rates held steady, as homeowners got a boost from the stimulus bill and the foreclosure-prevention plan unveiled last Wednesday. The average 30-year fixed mortgage stayed constant at 5.34%. The average 15-year fixed rate mortgage sank below the
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Attention potential buyers: Warning, nervous lenders have tough new rules and are paperwork crazy. Today, borrowers have to prove they are the borrower they say they are, which is why potential homebuyers should consider the 5 tips listed below before
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President Obama’s eagerly anticipated foreclosure prevention program targets to help 9 million borrowers. The $75 billion effort, dubbed the Homeowner Affordability and Stability Plan, boils down to two basic solutions: First, the government is
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Total Number of Sales Closed in January 2009 Ø January 2009 had 2,080 closed sales or 69 closings per day Ø December 2008 had 2,440 closed sales or 81 closings per day Ø January 2009 sales are down in comparison to December 2008 sales
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Homeowners who apply for a loan modification tend to get a little antsy and perhaps even annoyed when they apply for a loan modification and then fail to hear anything for several weeks, especially if they continue to receive late payment notices and
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Mortgage rates fell during the past week, pushed lower from the uncertainty stemming from the bank bailout plan unveiled Tuesday. The average 30-year fixed mortgage rate fell to 5.34% from 5.70% for the week ended February 13 th . The average 15-year
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Fannie Mae recently announced an expanded policy regarding multiple mortgages to the same borrower. To help support the recovery of the housing market, Fannie Mae is increasing its limit from four loans per borrower when the mortgage being delivered to
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Need a creative, quick save to rescue your faded kitchen but have limited time and not a lot of money? Listed below are 10 projects any do-it-yourselfer can accomplish on a barebones budget and still end up with a dynamite result: 1. Think Paint: The
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If you're shopping for a mortgage these days, it's a whole new world out there. There have been a huge number of changes over the past few years in mortgage borrowing. Many of the subprime loans that helped fuel the housing boom, those that didn't
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Fannie Mae plans to eliminate some credit-score requirements, scale back income-documentation standards, and waive the need for appraisals in some cases starting April 4, 2009. The mortgage finance company believes the changes will allow more homeowners
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Mortgage rates rose over the past week, pushing the cost of borrowing to its highest level since Christmas and volatility is expected to continue as the debate over the economic stimulus plan continues. The average 30-year fixed mortgage rate rose to
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In a sign that banks are stepping up their efforts to combat foreclosures, lenders intervened to help prevent 239,000 foreclosures in December. Hope Now, a coalition of lenders, investors in mortgage backed securities and community advocacy groups, said
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Mortgage rates fell last week, benefiting from the Federal Reserve's pledge to take all necessary action to stimulate the economy. The average 30-year fixed mortgage rate fell to 5.48% from 5.59% for the week ending January 30, 2009. The average 15-year
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