FeedRE
     California

Related posts:

• Some owners who used homes to buoy finances are sinking
  They relied on cash-out refinancing or took out home equity lines of credit to get capital during the easy-money era, but now many are underwater on their loans. In better economic times, Santa Clarita mortgage broker Fred Arnold relied on a home equity line of credit if his cash flow was uneven and he needed to cover payroll. ...
• Home buyers will have to lay out more cash for an FHA mortgage
  They'll also need to have higher minimum credit scores under changes announced by HUD Secretary Shaun Donovan. Reporting from Los Angeles and Washington Alejandro Lazo -- Thousands of Southern California home buyers, and millions nationwide, will have to come up with more cash and reach higher minimum credit scores to get a government-backed mortgage under changes unveiled by the Federal...
• States taking steps to turn $8,000 home-purchase tax credit into cash
  Instead of making buyers wait until they receive their tax refunds, some states have created bridge-loan programs that advance purchasers the money they need for their closings. For the housing market, it's the equivalent of financial alchemy, and it's hot: Turning the $8,000 federal home-purchase tax credit, which normally isn't spendable until after you've gotten your refund, into immediate, hard...
• Home buyers’ tax credit can be turned into cash at closing
  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. The Obama administration has put out the official word: Starting soon, first-time home buyers nationwide will be able to turn their $8,000 federal tax credits into cash for use at...
• Second homes, investment properties could get Fannie, Freddie refis
  The mortgage lenders' mass refinancing programs go beyond owner-occupied primary residences. Fannie Mae and Freddie Mac have published the rules governing their upcoming mass refinancing campaigns, and they're more favorable -- especially for owners of second homes and small investment properties -- than indicated by the White House and Treasury last month. ...
• Homeowners who ’strategically default’ on loans a growing problem
  A study shows that people who abruptly and intentionally abandon their mortgages often have high credit scores, in stark contrast with most financially distressed borrowers. Who is more likely to walk away from a house and a mortgage -- a person with super-prime credit scores or someone with lower scores? ...
• Homeowners’ equity is again on the rise after three years of unprecedented shrinkage
  But large numbers of borrowers still owe more on their mortgages than their homes are worth. With all the bad news about underwater homeowners and strategic walkaways, you might think that U.S. homeowners' equity holdings are continuing to slide. But a little-publicized recent statistic on real estate is that home equity is again on the rise. ...