Mortgages are defaulting, yet lenders have been profiting from that department. Bank of America and Wells Fargo have seen an increase in their profits compared to last year’s lows. New loans, most of which are bought by Fannie Mae, Freddie Mac and the FHA are the main reason for the profits major lenders are able […]
JohnHart Real Estate
Loan Program Improves, U.S. Says
Concerns about lenders not working with their clients to help modify their loans with the government programs that are available, seems to show improvement. The treasury department found that the temporary modifications that were made permanent have doubled in December.
Southern California Housing Market Strengthens
When selling a home many obstacles may come in your way. From client questions and concerns to weather delays. December is known to be a slow month for the housing market. Surprisingly, report shows that last month’s sale price was up by 4% compared to the year before.
Buyers: What You Need To Know
Purchasing a home is a major step in an individual’s life. Buying a home may symbolize an addition to the family, increase in income, relocation and possibly now you may need or want a bigger kitchen or closet space. The reasons are endless; they can be emotional or logical. Whatever the reason may be doing […]
Obama Proposes To Tax Largest Financial Firms
President Obama wants the bailout money paid back with additional fees attached. He wants to impose a tax on the banks who are now repaying the bailout money back. “Every single dime the American people are owed, [will be returned],” said the President. “If these companies are in good enough shape to afford massive bonuses, […]
Wall Street Executives Admit Mistakes Before Crisis
Executives are now admitting to mistakes that were made on their behalf that contributed to the financial crisis our country is in. The government panel assigned for this investigation had the chance to question some of the top executives from leading financial institutes such Goldman Sachs Group Inc. Chairman-CEO Lloyd Blankfein, JPMorgan Chase CEO James […]
Critics Say New Appraisal Rules Drive Down Values
Beginning February 15, 2010 mortgage brokers will no longer be able to choose their appraisers, in hopes that appraisers will make more accurate value assessments. Loans that are insured by the Federal Housing Administration will be appraised by third-party appraisal management companies. Brokers, realtors, loan-production staff and anyone who has commission in the deal will […]
Tax Credit Helps Boost Home Resale
Sales were up by 7.4% in November due to the tax credit that was made available to first time home buyers as well as the tax credit for current homeowners. The real estate market saw an improvement in the number amount of sales compared to previous months and helped increase U.S. stocks. For example, Dow […]
Real Estate Outlook: Signs of Rebound
Even though the economy is not doing so well, not everyone is in economic strain. Those individuals who have not dramatically been affected by the economy have continued to make purchases. For those individuals, right now is the best time to purchase properties because of the declining home prices in many neighborhoods. Unfortunately, for those […]
Obama’s Short-Sale Plan Could Helps Homeowners
The Obama administration will soon propose a new standardized short-sale plan. The new plan will introduce standardized documents, timelines and financial incentives that will be enforced throughout all financial institutions. Those individuals who filed for a loan modification and were denied will be able to use this program in order not to have their properties […]