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Federal Refinance Program Extended One Year

FEDERAL HOUSING FINANCE AGENCY
NEWS RELEASE

FHFA Extends Refinance Program By One Year

Washington, DC — Federal Housing Finance Agency Acting Director Ed DeMarco today announced the extension of the Home Affordable Refinance Program, (HARP), a refinancing program administered by Fannie Mae and Freddie Mac, to June 30, 2011. The program is a key component of the [...]

Are principal reductions the answer for upside down homeowners?

NEW YORK – Feb. 15, 2010 – Real estate investors are coming to the same conclusion that housing activists reached at the beginning of the crisis – forgiving principal on underwater loans may be the best way to deal with the problem.
“Principal reduction is the only answer,” says Laurie Goodman, a senior managing director at [...]

November Real Estate News

This Month in Real Estate
November 2009
Commentary

Budding signs of recovery continued last month. The encouraging news arrived in a number of closely followed economic indicators. On Thursday, October 29, the U.S. Commerce Department stated the country’s recession has officially ended, at least as leading data indicates.
U.S. GDP expanded 3.5 percent in the third quarter, the first period of quarterly growth [...]

FHA Helps CONDO Market with Rule Change

The Federal Housing Administration is giving the condo market something it hasn’t had for a while - a little breathing room.
Last week, the FHA, the federal agency that insures low-downpayment home loans for private lenders, said it was relaxing its building underwriting guidelines as a way of helping the struggling sector ride out the downturn. [...]

2 more companies join the Government to purchase Toxic Assets.

WASHINGTON - Nov. 4, 2009 - Two more large investment companies have together raised enough money to join with the government in buying toxic assets held by banks so they can resume more normal lending to support an economic recovery.
The Treasury Department said Tuesday that New York-based Angelo, Gordon & Co. LP and Norwalk, Connecticut-based [...]

Choose your lender carefully.

More than 100 arrested for mortgage fraud
TAMPA, Fla. (AP) - Nov. 4, 2009 - A federal prosecutor says a crackdown on organized mortgage fraud this year has yielded 105 arrests from Jacksonville to Fort Myers.
A. Brian Albritton, the U.S. attorney for Florida’s middle district, announced the results of the nine-month investigation at news conferences Tuesday [...]

Interest Rates Falling - Home Demand Rising

According to Freddie Mac, 30-year-fixed-rate mortgage average fell further to 4.87 percent with an average 0.7 point for the week ending Oct. 8 from 4.94 percent. “Such low rates are spurring mortgage demand,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement.
“Interest rates for 30-year fixed-rate loans were the lowest since [...]

ReFi Loans Trend Toward Shorter Term and Fixed Rates

RISMEDIA, August 18, 2009-Freddie Mac recently announced that in the second quarter of 2009, refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or fixed.
Ninety-nine percent of prime borrowers who originally had a conforming ARM selected a new conforming fixed-rate mortgage when they refinanced, up slightly from a [...]

Countrywide to start making payments to it’s Florida customers.

Countrywide Financial to begin making settlement payments
TALLAHASSEE, Fla. – Aug. 7, 2009 – Countrywide Financial, now owned by Bank of America, will soon begin making cash payments of at least $3,000 to each of its Florida customers who have experienced a foreclosure or fallen behind on mortgage payments within four months of getting their loan.
The [...]

The Dream of Homeownership is ALIVE and WELL in the U.S

The dream of homeownership is alive and well in the U.S., the president of the nation’s largest real estate trade association recently told a professional group in Fort Worth. Consumers want back in the market on two conditions: They can get a home for a good price and financing at an affordable rate.
With so many [...]

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Federal Refinance Program Extended One Year

Are principal reductions the answer for upside down homeowners?

November Real Estate News

FHA Helps CONDO Market with Rule Change

2 more companies join the Government to purchase Toxic Assets.

Choose your lender carefully.

Interest Rates Falling - Home Demand Rising

ReFi Loans Trend Toward Shorter Term and Fixed Rates

Countrywide to start making payments to it’s Florida customers.

The Dream of Homeownership is ALIVE and WELL in the U.S

Featured Property

Historic Alafia River - 2.5 acres with 450 feet of beautiful riverfront. Just minutes from FishHawk and no HOA!!

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