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August 2012 - Posts

Monday, August 27, 2012 6:36 AM

It's a Good Time to Buy!

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Saturday, August 25, 2012 8:11 AM

How much do you know about your homeowner's insurance policy?

Talking Points Earthquakes, flooding, and unexpected deductibles are just a few of the costs a homeowners policy might not cover, but most Americans do not realize it. According to a MetLife Auto & Home Insurance Literacy Survey, many homeowners are
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Saturday, August 25, 2012 8:10 AM

No more “drive-by” appraisals – on some loans

The Wall Street Journal Rules proposed by federal regulators would ban the practice of “drive-by” appraisals and require a physical inspection of the home. But the rules, required by the Dodd-Frank financial overhaul of 2010, would only apply
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Saturday, August 25, 2012 8:08 AM

Refinancing a vacation home

The New York Times Homeowners who want to take advantage of historically low mortgage rates and refinance a vacation home should be prepared for stricter loan requirements, especially if the property is rented out. Read the full story
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Saturday, August 25, 2012 8:07 AM

Are investors taking over your neighborhood?

Union Tribune Investors have the cash and the manpower working in their favor. They’re buying up parts of neighborhoods in hopes of turning quick profits, and in their own words, moving a once-stagnant market forward. For first-time home buyers,
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Saturday, August 25, 2012 8:06 AM

Will short sales hit home prices?

The Wall Street Journal On Tuesday, the Federal Housing Finance Agency announced new guidelines that are supposed to make it easier for homeowners to sell their home in a short sale. Read the full story
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Saturday, August 25, 2012 8:05 AM

FHFA steering toward bulk sales

The Press Enterprise Real estate professionals are accusing the Federal Housing Finance Administration and Fannie Mae of moving in a “secretive” way to test a bulk-buying house program in the Inland Empire that will squeeze out consumers,
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Saturday, August 25, 2012 8:04 AM

California home prices near 4-year high

Orange County Register California home sale prices came close to a 4-year high in July, with the pace of sales year-over-year growing for the fourth month in a row, the CALIFORNIA ASSOCIATION OF REALTORS® reported. Making sense of the story The median
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Friday, August 24, 2012 2:54 PM

Fannie, Freddie align short sale guidelines

Over the course of the past year and a half, C.A.R. has been working vigorously to address concerns from C.A.R. members related to short sale transactions. As a direct result of C.A.R.’s efforts, significant improvements have been made through discussions
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Friday, August 24, 2012 2:51 PM

Fannie, FHFA move forward with secretive bulk sales plan

The FHFA is moving ahead with its REO bulk sales pilot initiative in a highly secretive manner, despite vehement opposition from California congressional members, the negative economic impact to the state’s housing market, and cost to taxpayers,
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Tuesday, August 21, 2012 9:13 AM

Chino Hills is Number 34 on Money Magazine's 2012 Best Places To Live!

WINNER Top 100 rank: 34 Population: 74,600 Compare Chino Hills to Top 10 Best Places This ethnically diverse Southern California community an hour outside Los Angeles claims a higher median income than that of Beverly Hills. Excellent schools and safe
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Monday, August 20, 2012 7:52 AM

Asking prices rise for sixth consecutive month

Asking prices on for-sale homes – which lead sales prices by approximately two or more months – increased 0.5 percent in July compared with June, according to Trulia’s Price Monitor. This marked the sixth consecutive monthly gain. Meanwhile,
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Monday, August 20, 2012 7:49 AM

Short Sale Soundoff: Citi launches rental effort for distressed borrowers

Citigroup is starting a program to allow 500 homeowners in trouble with their mortgages to rent back their homes if they sign over the deed, a step some lenders are taking to help people avoid foreclosure. The homeowners, who live in Arizona, California,
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Monday, August 20, 2012 7:47 AM

California foreclosure sales decline year-over-year

Foreclosure sales in California declined 41.7 percent in July compared with July 2011, but rose 10.4 percent compared with June 2012, ForeclosureRadar recently reported. Notices of Default increased slightly in July (1.4 percent) compared with the previous
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Monday, August 20, 2012 7:44 AM

What is your Home Really Worth?

Talking Points When it comes to assessing a home’s value, homeowners tend to be overly optimistic. However, appraisers are much more cautious, as they have to predict a realistic value for the home that the bank can use to extend credit to a buyer.
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Monday, August 20, 2012 7:42 AM

Mortgage delinquencies rose in second quarter

Los Angeles Times The Mortgage Bankers Association said home loans with at least one missed payment, but not yet in foreclosure increased, increased in the second quarter to 7.58 percent of all mortgages. That’s up slightly from 7.4 percent in the
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Monday, August 20, 2012 7:41 AM

How to get your asking price as the housing market improves

Yahoo! Homes Home prices posted their first annual increase in five years, according to a report by Zillow. This is good news for homeowners who have been waiting to put their houses on the market. But before that happens, there are a few simple spruce-ups
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Monday, August 20, 2012 7:39 AM

Consumer Protection Bureau to propose new federal mortgage rules

The Los Angeles Times New federal rules would require banks to provide homeowners with better information about their mortgages to avoid costly surprises, such as sharp interest rate increases, and provide better service to help them avoid foreclosure.
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Sunday, August 19, 2012 5:34 PM

Higher home prices reduce California housing affordability in second quarter 2012

Sacramento Bee Higher home prices reduce California housing affordability in second quarter 2012 Higher home prices offset record-low interest rates and lowered housing affordability in California in the second quarter of 2012, the CALIFORNIA ASSOCIATION
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Tuesday, August 14, 2012 7:49 AM

How Do People Find Their Homes?

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Sunday, August 12, 2012 6:29 PM

FTC warns of phony sweepstakes prizes

The Federal Trade Commission is warning consumers about fraudulent calls from people claiming to work for the FTC and informing consumers that they have won a lottery or sweepstakes. To receive the prize, the caller claims all the consumer has to do is
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Sunday, August 12, 2012 6:26 PM

In most of U.S., buying beats renting after only three years

Zillow analyzed the "breakeven horizon" in more than 200 metros and 7,500 U.S. cities to determine how many years it would take before owning a home becomes more financially advantageous than renting the same home. In more than three-quarters
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Sunday, August 12, 2012 6:23 PM

Deadline extended to request Independent Foreclosure Review

The Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System have announced that the deadline for submitting requests for review under the Independent Foreclosure Review has been extended. Borrowers seeking
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Sunday, August 12, 2012 6:19 PM

Finally, it is time to buy a house

The Wall Street Journal Buying real estate is a good long-term investment for many reasons, some of which have only become apparent in recent weeks. Making sense of the story Housing prices rose sharply in May compared with April. The S&P/Case-Shiller
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Sunday, August 12, 2012 6:18 PM

Mortgage closing costs fell 7 percent for home buyers

CNNMoney The average cost of closing on a mortgage has fallen by 7.4 percent over the past year, according to a recent survey by Bankrate.com. Read the full story
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Sunday, August 12, 2012 6:17 PM

Simplifying loan documents

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Sunday, August 12, 2012 6:16 PM

Harder-luck foreclosures grow as funding for help wanes

Bloomberg With millions of homes still in the foreclosure pipeline, foreclosure mortgage counselors say they are handling increasingly complex cases for homeowners who are unemployed, underwater, or redefaulting. Read the full story
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Sunday, August 12, 2012 6:15 PM

Citigroup tries converting troubled homeowners to renters

Los Angeles Times Citigroup Inc. is testing a program that would allow distressed homeowners to sign over title to their property and stay on as renters paying less than they did on their mortgages. Read the full story
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Sunday, August 12, 2012 6:14 PM

Mortgage applications up, mortgages not so much

CNN Money This summer, Americans’ interest in taking out a mortgage has skyrocketed, rising to its highest level in at least three years, according to a quarterly survey of lenders released by the Federal Reserve this week. Read the full story
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Sunday, August 12, 2012 6:12 PM

Earthquake Safety

Talking Points The recent spate of earthquakes throughout Southern California is a good reminder of the importance to be prepared and create a plan. For parents, knowing the policies of the school or daycare center where the children attend is essential.
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Friday, August 03, 2012 7:38 AM

Tips for Sellers

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Friday, August 03, 2012 7:37 AM

Fannie and Freddie won’t lower mortgage principal, regulator says

Los Angeles Times After a lengthy review, the Federal Housing Finance Agency, the agency that oversees Fannie Mae and Freddie Mac, decided it will not allow Fannie Mae and Freddie Mac to lower the amount some underwater homeowners owe on their mortgages
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Friday, August 03, 2012 7:36 AM

Refinancing more than once

The New York Times Many homeowners have been taking advantage of a steady drop in interest rates to refinance their mortgages. Some are doing so once, twice, or more. Read the full story
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Friday, August 03, 2012 7:35 AM

Shrinking supply of homes for sale has upended market dynamics

Los Angeles Times One of the sobering fundamentals shaping real estate this summer is shrinking inventory: The supply of houses for sale has fallen significantly in most areas compared with a year earlier, sometimes dramatically so. Read the full stor
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Friday, August 03, 2012 7:33 AM

High housing payments the new “American nightmare”

Orange County Register Some 2.7 million California housholds – homeowners and renters – pay at least half their income for housing. The numbers have nearly doubled in the past decade, according to the Census Bureau. Read the full story
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Friday, August 03, 2012 7:32 AM

How forgiveness fits in housing-fix toolkit

The Wall Street Journal Policy makers are wrestling with a dilemma about the overhang of mortgage debt from the housing decline: To forgive or not to forgive? Read the full story
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Friday, August 03, 2012 7:30 AM

For renters, buying a home pays off after three years on average

A new analysis by real estate website Zillow shows that, on average, a renter thinking about buying a home will reach what it calls the “break-even horizon,” after just three years. The break-even horizon compares what it would cost to buy
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Thursday, August 02, 2012 5:33 AM

Competition to Buy Remains High

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Thursday, August 02, 2012 5:24 AM

FTC halts scam aimed at Spanish-speaking homeowners

At the request of the Federal Trade Commission, a U.S. district court has halted a nationwide scam operating from the Dominican Republic – but pretending to be in Chicago – that allegedly peddled fake mortgage assistance relief to financially
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Thursday, August 02, 2012 5:21 AM

Completed foreclosures decline in June

CoreLogic’s National Foreclosure Report for June, which provides monthly data on completed foreclosures and the overall foreclosure inventory, showed there were 60,000 completed foreclosures in the U.S. in June 2012 compared with 80,000 in June
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Thursday, August 02, 2012 5:19 AM

FHFA prohibits GSE principal reductions

This week, Edward J. DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, issued a statement that the FHFA would not direct the GSEs to implement the Home Affordable Modification Program Principal
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