Showing posts with label loan limits. Show all posts
Showing posts with label loan limits. Show all posts
Saturday, August 8, 2009
Friday, July 17, 2009
Loan Modifications Prove To Be a Scam for Local Homeowners
The LA Times posted a great article highlighting how many homeowners facing foreclosure are being taken advantage of. The California Association of Realtors has been warning consumers for some time now against those companies that charge upfront fees to modify a loan. That is a DRE (Dept. of Real Estate) violation. Many companies get around it by connecting with a law firm and they call it something similar to a "retainer" fee, just like if you were going to hire a lawyer to handle any other legal matter. The fact of the matter is, this brings the dark cloud back to the Real Estate industry. It seems that there is never a shortage of the "fast-buck" scam artists when there are desperate people just looking for help. I am happy to read in this article that the autorities are cracking down on these scams, but the distressed homeowners are now left with very little options.
http://www.latimes.com/business/la-fi-foreclosure-scams16-2009jul16,0,1422452.story
http://www.latimes.com/business/la-fi-foreclosure-scams16-2009jul16,0,1422452.story
Saturday, May 30, 2009
Thursday, March 13, 2008
Impact of FHA Loan Limits
National Association of Realtors® Calculates Impact of Increasing FHA Loan Limits
Increasing FHA loan limits will help an additional 138,000 Americans achieve the dream of homeownership and will allow nearly 200,000 homeowners to refinance and potentially keep their home, according to NAR research.
An economic impact study conducted by NAR earlier this month estimated that increasing the conforming loan limits for Fannie Mae and Freddie Mac would result in as many as 500,000 refinanced loans and could help reduce foreclosures by as much as 210,000.
Additionally, over 300,000 additional home sales could be generated, housing inventory would be reduced and home prices would be strengthened by 2 to 3 percentage points.
-- “NAR Hails Passage of Economic Stimulus Package to Help Jumpstart Housing Market,” Realtor.org, Feb. 8, 2008.
Increasing FHA loan limits will help an additional 138,000 Americans achieve the dream of homeownership and will allow nearly 200,000 homeowners to refinance and potentially keep their home, according to NAR research.
An economic impact study conducted by NAR earlier this month estimated that increasing the conforming loan limits for Fannie Mae and Freddie Mac would result in as many as 500,000 refinanced loans and could help reduce foreclosures by as much as 210,000.
Additionally, over 300,000 additional home sales could be generated, housing inventory would be reduced and home prices would be strengthened by 2 to 3 percentage points.
-- “NAR Hails Passage of Economic Stimulus Package to Help Jumpstart Housing Market,” Realtor.org, Feb. 8, 2008.
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About Me
- Mark Gundlach (This Week In Real Estate)
- South Orange County, CA, United States
- Mark Gundlach has been a resident of South Orange County since 1986. For Mark, giving back to the community is a high priority. As a member of the Newport Beach Junior Chamber organization, Mark participates and raises money for charities such as the American Cancer Society and Rebuilding Together. Gundlach comes to HÔM Real Estate Group with a strong background in client service. Typically his clients are new to the market and have not worked with a real estate professional before, or those that may have had a challenging experience in the past. Mark provides his clients with a personalized blueprint of the real estate market, and details how they can benefit. Adapting to the changing market, Mark has extensive training in Short-Sale negotiations and has successfully assisted many clients in these specialized sales. Mark would love the opportunity to meet you and assist you in any way he can. If you or someone you know is in need of real estate services, contact him first. Conversely, if you think Mark could be a referral source for you, let him know how he can help you grow your business.