Blogging Broker

According to Treasury Department figures, nearly 700,000 trial modifications under Making Home Affordable were underway by the end of November. But with fewer than 32,000 converted to permanent modifications, it means a net drop of permanent loan modifications since the Obama plan began. Servicers, White House Point Fingers as Foreclosure Plan Fails « The Washington [...]

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HUD has issued a mortgagee letter to lenders and underwriters explaining that effective immediately, borrowers in default on their mortgage at the time of a short sale or pre-foreclosure sale will not be eligible for a new Federal Housing Administration (FHA) -insured mortgage for three years. Distressed Short Sellers Locked our of FHA Loans Read [...]

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“But while the 2010 outlook appears inviting, there’s one key catch. “You need to have a stable job,” says Mark Zandi, the chief economist of Moody’s Economy.com.” Ya think? Read the entire article here: 10 Things to Know About Real Estate in 2010 – Yahoo! News.

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What I find interesting is that even where home sales have increased the most  prices are DOWN significantly: “Biggest sales gain: Sales in Boise more than doubled from a year ago. But the metro’s median home price declined versus a year ago by almost 19 percent to $137,990.” Read more: CLICK HERE

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The housing market in Fresno is still fraught with foreclosures, posting the nation’s 15th-highest rate in the third quarter, according to RealtyTrac.com. That means the market there is saturated with available homes, right? Not quite. read the entire article here

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Sometimes a picture doesnt say a thousand words.

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Foreclosures: Prime Borrowers Are The Latest Victims. Prime Borrowers = people like you and me. I have one client who, until recently had excellent credit, and lives in a  3000+ sq. ft. — 5 bd. / 3 ba–  home, which will soon be the property of the bank. His retail business hasn’t just slowed, it’s [...]

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Associated Press Interactive: AP Economic Stress Index.

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Interesting Article: Denver-based UDR is offering renewing tenants a flat-screen TV, new carpet, kitchen upgrade or, $300 in cash. READ MORE HERE: Landlords Offer Renters Incentives to Stay Put – WSJ.com.

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