Hot Property

First Monthly Foreclosure Prevention Report released by FHFA

FHFA Monthly Foreclosure Prevention Report Released   Washington, DC – James B. Lockhart, Director of the Federal Housing Finance Agency today released the first monthly Foreclosure Prevention Report, which provides comprehensive monthly data on the loan modification efforts of Fannie Mae and Freddie Mac.  Details on Fannie Mae’s HomeSaver Advance (HSA) program are also included. [...]

HUD issued Guidance on sexual harassment under Fair Housing Act

HUD: Guidance on sexual harassment under the Fair Housing Act WASHINGTON – Nov. 25, 2008 – The U.S. Department of Housing and Urban Development (HUD) issued guidance yesterday about sexual harassment in housing under the Fair Housing Act. The guidelines clarify the definition of sexual harassment in housing and offer legal remedies available to victims. [...]

FED urges Loan Servicers to take prompt action!

    FHFA URGES SERVICERS TO TAKE PROMPT ACTION ON LOAN MODIFICATIONS Washington, DC   – Federal Housing Finance Agency (FHFA) Director James B. Lockhart today urged loan servicers to support the new streamlined modification program (SMP) announced November 11 by FHFA, the U.S. Treasury Department, the Federal Housing Administration (FHA), Fannie Mae, Freddie Mac [...]

What? You found an old Lien Against Your Home?

Recently at a Code Enforcement hearing, a frightening scenario popped up.  What if you owned a property for several years and all of a sudden learned that the county has a lien against it for a very large sum of money?  A lien that was there long before you purchased it! We (Hillsborough County Code Enforcement [...]

Freddie Mac is First to Dip Into Bailout Funds.

WASHINGTON – Nov. 17, 2008 – Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss. The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury Department to keep it and sibling company Fannie Mae afloat after [...]

Market burst but many Sellers still living in a Bubble

Homeowners cling to false optimism about own home   Yesterday, an AP article was published that talked about some stubborn homeowner/sellers.  Late in 2005, Team Sumberg saw the early signs of change in our Tampa Bay market.  We began to collect statistics and run them through computer programs to better understand what exactly was changing.  [...]

NEW FHA Mortgage Loan Limits announced

Nov. 12, 2008-U.S. Department of Housing and Urban Development Secretary Steve Preston announced the new Federal Housing Administration (FHA) mortgage loan limits for single-family homes as prescribed by the Housing and Economic Recovery Act of 2008. Beginning January 1, 2009, FHA will insure single-family home mortgages up to $271,050 in low cost areas and up [...]

Q and A on Fannie Mae and Freddie Mac Streamlined Program

Here are excerpts from the Federal Government’s press release regarding the STREAMLINED LOAN MODIFICATION PROGRAM.  The press release included a section with questions and answers which we’ve included at the bottom.  Working in the Real Estate business in the Tampa Bay area, Team Sumberg deals with home owners in serious danger of losing their homes [...]

Credit Squeeze is effecting Commerical Real Estate.

So, while the bubble was bursting and perhaps for a year after, commercial real estate was a great place to be doing business.  I can tell you that Team Sumberg has appreciated being able to cross sectors and work in both residential and commercial markets here in the Tampa Bay Area.  It looks like another “SHIFT” is [...]

Florida CFO launches ‘Florida Housing Help’ web site.

Florida CFO Sink launches ‘Florida Housing Help’ web site TALLAHASSEE, Fla. – Nov. 10, 2008 – To provide immediate assistance to Florida homeowners searching for federal housing assistance, Chief Financial Officer Alex Sink and her Financial Action Team (FACT Team) announced the launch of “Florida Housing Help,” a new Web feature at www.MyFloridaCFO.com. “Florida Housing [...]