Orange County Real Estate Broker | Buy Sell or Lease

Home buyers' tax credit can be turned into cash at closing

7/4/2009 12:00 AM

Buyers who use FHA financing soon will be able to use their $8,000 tax credits for settlement fees, escrow charges, higher down payments or to "buy down" the interest rate.

By Kenneth R. Harney
June 7, 2009

Reporting from Washington — The Obama administration has put out the official word: ...Read More

O.C. Mortgage Rates on the Rise

7/4/2009 12:00 AM

Mortgage rates have bounced around the past two weeks, with brokers in Orange County quoting rates Thursday in the range of 5 percent to 5.6 percent.

Jeff Lazerson, head of online brokerage Mortgage Grader in Laguna Niguel, said the lowest rates on a 30-year fixed-rate loan were 5.125 percent and 4.875 percen...Read More

Get Used to Paying Points

7/4/2009 12:00 AM

Until recently, borrowers could obtain loans with no points and in some circumstances could avoid paying closing costs too (Escrow, Title, Appraisal, etc). This was possible because lenders would allow borrowers to accept a slightly higher interest rate and in return would pay the loan originator a fee called a Yield Spre...Read More

2009 Temporary Loan Limits: LTV/FICO Changes

7/4/2009 12:00 AM

Agency Jumbo (Conforming High Balance): 2009 Temporary Loan Limit & Guideline Changes

Effective 8:00 pm (Pacific), Thursday, May 14, 2009, the following Agency Jumbo (Conforming High Balance) 2009 Temporary Loan Limit & Guideline Changes will take effect:

The maximum loan limits in certai...Read More

Tax credit as down payment on FHA loans?

7/4/2009 12:00 AM

Apparently the federal government wants to make it even easier to buy a home with a loan insured by the Federal Housing Administration — it already allows a 3.5% down payment that can be gifted from a relative.

According to National Mortgage News:

The government today gave the green light to the ...Read More

Home Affordable Refinance -New Refinance Options for Existing Fannie Mae Loans

7/4/2009 12:00 AM

The Making Home Affordable program announced by the Department of the Treasury on March 4, 2009, includes a new initiative – Home Affordable Refinance – to provide refinance opportunities to borrowers with mortgages held or guaranteed by Fannie Mae. This initiative is for borrowers who have demonstrated an acceptable paym...Read More

PROPERTY TAX REDUCTION SCAM ALERT

7/4/2009 12:00 AM

The Los Angeles County Assessor's office is alerting homeowners that various private companies are sending mailings to property owners offering their services to pursue a reduction in the owner's property taxes. The companies may charge hundreds of dollars to file for a reduction in value on behalf of the property owner. ...Read More

FORECLOSURE TIMELINE FOR OWNER-OCCUPIED REAL PROPERTY LOANS (made from 2003 to 2007)

7/4/2009 12:00 AM

The approximate minimum time frames for the non-judicial foreclosure of owner‑occupied real property loans made from 2003 to 2007 are as set forth below. In California, most lenders elect to foreclose non-judicially by conducting trustees' sales, not by judicial foreclosure.

Pre-Foreclosure Period
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Loan Modification Frequently Asked Questions

7/4/2009 12:00 AM

A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.

Question 1: In utilizing the Loan Modification option to bring an asset current, can the mortgagee include all fees and corpo...Read More

Loan Modifications (Free)

7/4/2009 12:00 AM

What we do?
At CES Realty we deal with banks every day with loan modifications and short sales. Loan modifications are fairly straight forward, you either qualify or you dont. You can do this for free on your own, every bank has a toll free number and departments to work with you directly. If you do not like ...Read More

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