Current Rules for Re-Purchase: IF short sale and NO late payments 3-4 Months after Short Sale. FHA financing will allow a re-purchase after the short sale has been reported in the credit report if there were no late payments for 12 months prior to the short sale. If Short Sale, WITH late payments 2 years after short sale, [...]

According to the National Association of Home Builders (NAHB), owning your home still remains “essential to the American Dream.” A recent survey backed by the NAHB found that Americans “see beyond the immediate housing market to the enduring value of homeownership.” NAHB Chairman Bob Nielsen reports that 75 percent of those polled said owning a [...]

John Ulzheimer, president of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, is an expert on credit reporting, credit scoring and identity theft. Formerly with FICO, Equifax and Credit.com, Elzheimer is a rare editorial source — a recognized credit expert who actually comes from the credit industry. He often references in his writings the [...]

Low mortgage rates have stayed in place which resulted in an increase in mortgage applications for both purchases and refinances. Freerateupdate.com’s daily survey of wholesale and direct lenders showed that mortgage rates have been consistent and still at the lowest levels of 2011 for the past week. Conforming 30 year fixed mortgage rates are at [...]

FRAUD WARNING REGARDING LAWSUIT MARKETERS REQUESTING UPFRONT FEES FOR SO-CALLED “MASS JOINDER” OR CLASS LITIGATION PROMISING EXTRAORDINARY HOME MORTGAGE RELIEF By Wayne S. Bell Chief Counsel, California Department of Real Estate I. HOME MORTGAGE RELIEF THROUGH LITIGATION (and “Too Good to Be True” Claims Regarding Its Use to Avoid and/or Stop Foreclosure, Obtain Loan Principal [...]

In legislation news this week the National Association of Home Builders (NAHB) is applauding Representatives Gary Miller of California and Brad Miller of North Carolina for introducing bipartisan legislation aimed at “the flow of acquisition, development and construction (AD&C) credit to the housing sector to help spur job growth, support a recovery in the housing [...]

Although it has raised fees, the FHA continues to offer much higher and more flexible maximum debt-to-income ratios, far more generous underwriting and lower down payments than conventional lenders. By Kenneth R. Harney April 24, 2011 Reporting from Washington Is the Federal Housing Administration losing some of its post-boom, post-bust oomph? Is the Obama administration’s [...]

Blogged by Stephen C. Bello, Lead Director KW Coastal Properties Commercial Division The commercial real estate downturn skirted the sidelines for the first three years that residential markets were declining in 2006-2008, but once it hit, it hit hard. As the following chart indicates, commercial property values were on a steady uphill climb throughout most [...]

The California Association of Realtors (CAR) has partnered with Fannie Mae on an initiative designed to help Realtors resolve issues that arise after a short sale offer is made on a Fannie Mae-backed loan. The effort centers around technology from the GSE, the Fannie Mae Short Sale Assistance Desk, which provides brokers and agents the [...]