California Real Estate Headline Roundup

Posts Tagged ‘mortgage relief’

By Bruce Norris .

The Norris Group Real Estate News Roundup 5/21/13

Tuesday, May 21st, 2013


Today’s News Synopsis:

Zillow reported home prices increase by 5% to $158,300, marking the sixth consecutive month to show price increases.  Fannie Mae and Freddie Mac announced today they will be offering relief to those recently affected by the tornado in Oklahoma.  The states that were helped the most by the recent national mortgage servicing settlement were those who were the most affected by the foreclosure crisis.

In The News:

Housing Wire - “Hardest-hit states record the most relief from servicers” (5-21-13)

“States hit the hardest by the foreclosure crisis benefited the most from the multi-billion dollar national mortgage servicing settlement, according to first-quarter 2013 data released by Joseph Smith, an independent monitor overseeing the distribution of aid.”

Bloomberg“Fannie Mae Said to Plan $2 Billion CMBS Offering to Cut Holdings” (5-21-13)

“Fannie Mae plans to sell $2 billion of commercial-mortgage bonds issued before the credit market seizure as it seeks to reduce holdings of illiquid assets, according to three people familiar with the offering.”

Inman - “FHA policy shift leaves many condos ineligible for financing” (5-21-13)

“Is FHA intentionally targeting condominiums, trying to exclude hundreds or thousands of them around the country from qualifying for financing under its mortgage insurance program?”

DS News - “Home Prices Climb by at Least 5% for 6th Straight Month in April” (5-21-13)

“The majority of metros covered in Zillow’s Real Estate Market Reports saw home values inch up from March to April, the company reported Tuesday.”

Housing Wire - “QM likely to shrink mortgage lending space” (5-21-13)

“Despite the Consumer Financial Protection Bureau attempt to make the ability-to-repay rule flexible, members of the financial committee addressed a variety of risks that come with the qualified mortgage, including the high risk of lenders reducing lending volume based on the changes.”

Realty Times“Homeownership Is Not a Tax Loophole” (5-21-13)

“It has been said that Congress does two things well: Nothing and Overreacting. In an important sense, last week’s message from Realtors® to their representatives in Washington was that legislators should do the former and not the latter.”

DS News“GSEs Announce Relief to Borrowers Impacted by Oklahoma Tornado” (5-21-13)

“Fannie Mae and Freddie Mac reminded servicers of mortgage relief options available to homeowners whose residences were affected by the tornado that ravaged areas in Oklahoma.”

Realty Trac - “Principal Forgiveness Would Save Taxpayers Billions” (5-21-13)

“Principal forgiveness is once again on the menu in Washington, this time spurred on by a new report which says taxpayers could save as much as $2.8 billion if troubled borrowers simply owed less.”

Hard Money Loan Closed

Los Angeles, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $330,000 on a 3 bedroom, 2 bathroom home appraised for $548,000.

 

Bruce Norris of The Norris Group will be presenting How to Make a Million in the Next 24 Months in Orange on Saturday, June 1, 2013.

Bruce Norris of The Norris Group will be presenting his Free Pre-Event Webinar for California Comeback 2: Fast, Furious & Dangerous with Chino Valley on Friday, June 7, 2013.

Bruce Norris of The Norris Group will be speaking at the Cutting Edge Financial Tactics Brunch in Costa Mesa on Saturday, June 8, 2013.

Looking Back:

A bank closed in Alabama, bringing the then total for 2012 to 24.  Delinquencies were on the rise again according to a preliminary report by the Lender Processing Services.  In another big story, four states were back at their highest employment since the recession, these states being Alaska, North Dakota, Texas, and Louisiana.

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

The Norris Group Real Estate News Roundup 5/31/11

Tuesday, May 31st, 2011

Today’s News Synopsis:

S&P claims home prices fell 5.1% year over year. Freddie will allow servicers to reduce or suspend mortgage payments for up to 12 months for borrowers in disaster areas. AOL Real Estate is becoming one of the most popular real estate websites.

In The News:

CNN - “Home prices: ‘Double-dip’ confirmed” (5-31-11)

“Home prices hit another new low in the first quarter, down 5.1% from a year ago to levels not reached since 2002.”

Bloomberg - “Rising Housing Rents Risk U.S. Inflation” (5-31-11)

“For all the attention given to almost $4-a-gallon gas, the biggest threat to containing U.S. inflation may be the shift away from homeownership, which is pushing up the cost of leases across the nation’s 38 million rented residences. Shelter represents about 40 percent of the consumer price index excluding food and energy and accounted for almost one quarter of the 1.3 percentage point rise in April.”

Housing Wire“Freddie Mac offers mortgage relief to Midwest storm victims” (5-31-11)

“For borrowers living where President Obama declares major disaster areas, Freddie will give servicers the ability to reduce or suspend mortgage payments for up to 12 months. Each case will be individually evaluated.”

Housing Wire“Economists predict no immediate end to government debt purchases” (5-31-11)

“Economist Roger Meiners, a professor with the University of Texas at Arlington, says the day of reckoning has already come in a sense and some economists believe the government will have to continue buying debt regardless of whether or not it is referred to as quantitative easing. Several market observers say they expect a third round of government debt purchases.”

Orange County Register“L.A./O.C. home prices down 8th straight month” (5-31-11)

“L.A./O.C. prices were down 0.29% from February to March after falling 0.96% the previous month. March’s dip was the smallest decline since September. L.A./O.C. prices were down — on a year-to-year basis – 1.66% in March. It was the fourth consecutive year-over-year drop but down from the 2.07% annual rate of decline seen in February.”

Inman - “Top 10 real estate websites in April” (5-31-11)

“After rising from 16th to eighth position to break into the Hitwise top 10 in March, AOL Real Estate continued to boost its audience in April, rising to fifth place with a 2.91 percent market share in the real estate category, Hitwise said.”

Realty Times“10 Reasons to Sell” (5-31-11)

“Risk of Foreclosure. This is listed as number one because around one-third of all sales in today’s current market are distressed properties. Many homeowners find themselves in mortgages they cannot afford, whether due to job loss or to rising monthly payments. It is far better for their credit score to sell or short sale before they are foreclosed upon.”

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.