Great article from DS NEWS. Serious delinquencies are on the decline, while foreclosures have steadied at 5.5 percent, according to recent data from Foreclosure-Response.org, a joint venture of the Local Initiatives Support Corporation, the Urban Institute, and the Center for Housing Policy. Among the 100 largest metropolitan areas, serious delinquencies – those 90 days or more more » Read more »
Is the Home Buyers Tax Credit Extension Good News?
Last Friday, President Obama signed a bill to extend the $8,000 tax credit for first-time home buyers from November 30th to March 31st, 2010 and added a provision that will extend the credit to more potential buyers. Originally slated as a credit only for first-time homeowners, the government has now extended the credit to home buyers who have owned a home for under 5 years and are looking to purchase another home before March 31st. It sounds like good news to a lot of buyers who were rushing to buy homes before the November deadline. Read more »
What is FNMA’s HomePath Financing Program?
Here's a short video I put together with my brother, Adam Shandrow. In it, he explains why purchasing a Fannie Mae home is different than purchasing any other seller or Bank Owned property. * The homes are move-in ready. * You get a 97% Loan Devalue Ratio. * You don't have to pay for mortgage insurance. * There is no appraisal required, which expedites the closing of escrow. * The properties are already in lendable condition. * Though your interest payments might be higher, your PMI is waived. * You can save hundreds of dollars a month in fees and mortgage payments. Read more »
Another Onslaught of Foreclosures About to Explode
Get ready! We’re not even close to seeing even an inkling of a slowdown in the onslaught of foreclosures. This just in from Los Angeles Times real estate writer Don Lee: “Mortgage defaults have surged to record levels amid rising unemployment and falling home prices. Lenders are expected to move quickly to clear up backlogs more » Read more »
California’s 90-day foreclosure moratorium starts, sort of
This is a great post from Mathew Padilla of OCRegister.com discussing the new foreclosure moratorium in California. A state law halting home foreclosures for 90 days begins today, but companies can earn an exemption by showing they are already busy modifying loans. The California Foreclosure Prevention Act, or Assembly Bill X2 7, which Governor Arnold more » Read more »
Will Shadow Inventory Hurt U.S. Housing Market?
Will the ‘shadow inventory’ stunt a housing recovery? Source: — Tom Petruno, Los Angeles Times After every bear market on Wall Street, some investors are reluctant to buy because they believe many other investors will be anxious to sell into any rebound, swamping the market and stunting any recovery. And yet, bull markets get going more » Read more »
Shandrow Group Featured in German Documentary on California Foreclosure Market
Shandrow Group Goes International! We’re proud to announce that Shandrow Group will soon be making its European television debut in a German “60 Minutes”-style documentary on the booming California foreclosure market. We were honored to have Munich-based FOCUS TV Produktions GmbH along for the ride for an entire day last week as editor Kirsten Moser more » Read more »