Housing foreclosure authorities LoanSafe.org and YouWalkAway.com have created a new website to help people re-enter the housing market after having been through a previous foreclosure. The website is called AfterForeclosure.com and helps those most affected by the...
Fannie Mae and Freddie Mac are too big, and changes are coming. Beginning on January 10th, the new QM rules take effect - limiting the debt-to-income ratios to 43%, and capping points and fees charged by lenders to 3% of the loan amount. Because lenders will be...
While we are kicking around that affordability thing, let's note that by the traditional measuring of the Housing Affordability Index that we are still better than the last peak. The San Diego index got down to 8 in 2005, and today we are at 27:...
The Trulia predictions earlier this week included several references to less investor activity in 2014, due to higher prices. In particular was his #2 point: 2) The Home-Buying Process Gets Less Frenzied. Home buyers who can afford to buy won't be as frantic as...
Talking heads discussing the impact of higher rates - one being more ARMs: The guest commentator said that we will lose 20% of the buyers if rates go over 5%, which sounded like a guess. We don't have to lose any buyers if they were just willing to look at smaller...
This is a big shift in underwriting policy - from the latimes.com: Here's a heads-up for the growing ranks of seniors whose post-retirement monthly incomes aren't sufficient to qualify for a mortgage under today's tough underwriting standards: Thanks to a rule change...
Some excerpts from the latimes.com - thanks daytrip! Michele and Russell Poland's credit was shot, but they managed to buy their suburban dream home anyway. After a business bankruptcy and a home foreclosure, they turned to a rare option in this era of tightfisted...
As housing heads into the critical spring market, credit is finally beginning to thaw. Lenders are increasingly approving low-down-payment loans, and government-sponsored mortgage giant Fannie Mae is buying more of them. It is a noticeable shift from the last four...
Demand for new mortgages is finally revving up—among big spenders, anyway. Home sales using a jumbo mortgage had year-over-year growth of 7.9% through September, compared with 2.7% for nonjumbo sales, according to an analysis for The Wall Street Journal by...
Livinincali said: It’s definitely going to be a long drawn out process. The biggest group of new defaulters are FHA loans and since the government gets to decide foreclosure on those I expect to see many more years of free rent. FHA Foreclosures would come through HUD...
