Mortgage Rates Fall Again

Posted Posted in In the News, Market Reports

Freddie Mac: Mortgage Rates Fall to 4.27 Percent From DSNEWS.com Author: Tory Barringer April 17, 2014 Average fixed mortgage rates declined for the second straight week, bringing them to a six-week low—and easing affordability conditions slightly as the homebuying season gets under way. Per Freddie Mac’s Primary Mortgage Market Survey, the 30-year fixed rate mortgage (FRM) this week averaged a rate of 4.27 percent (0.7 point), down from 4.34 percent last week. A year ago, the 30-year FRM sat at 3.41 percent. At the same time, the 15-year FRM averaged 3.33 percent (0.6 point), down from an average 3.38 percent. Frank Nothaft, VP and […]

New Rules for Qualified Mortgages Arrive

Posted Posted in In the News, Market Reports, Mortgages

New rules for qualified mortgages took effect last week. Many lawmakers and mortgage industry leaders are showing concern that these rules could greatly restrict mortgage credit and negatively impact the housing recovery. These new rules for qualified mortgages are commonly referred to as QM rules. These are mortgages that meet the ability to repay rule whereas borrowers spend no more than 43% of their income on debt. The purpose is to protect consumers so that they aren’t placed into mortgages they are unable to pay. But the overall effect could reduce access to credit for homebuyers. There will be fewer […]

Video: How to Search HUD Homes |Tips & Tricks

Posted Posted in Buy A Home, In the News, Market Reports, Orange County

How to search HUD homes using www.HUDHomeStore.com. Watch our video to see  a step-by-step tutorial on how to search HUD homes while using www.HUDHomeStore.com. First, visit the website and go to the top right corner to register as a public user. This will allow you to save your favorite properties and return to continue your search. It’s like an MLS for HUD properties. Then, scroll down to the search bar labeled  search properties. Select your state, county, city and proper buyer type to search homes in your area. Once you have selected a property be sure to check which buyer types […]

Reverse Mortgage | How will it affect me?

Posted Posted in In the News, Market Reports, Mortgages

Reverse mortgage? How will it affect me? Those are the question that are unclear to many borrowers. There is a clear lack of understanding due to deceptive marketing practices. The Consumer Finance Protection Bureau has reported that there is confusion in the reverse mortgage market. Their report has identified mass confusion due to the following factors: Lack of Understanding: few completely understand reverse mortgages. Many consumers struggle to understand how their loan balance will be impacted. They also do not understand that they need to continue to pay taxes and insurance on their home. Younger Borrowers: The report found the […]

Learn about Buying a HUD Home at Chase Irvine Branch Aug 16

Posted Posted in In the News, Mortgages

Learn about Buying a HUD Home at our next Quarterly Buyer Outreach Event. Buying a HUD Home Where: Chase Bank  Culver and Deerfield Branch 15275 Culver Dr. Irvine, CA 92604 When: Aug 16,  9:30am – 2pm PLEASE VISIT US! We will be at the bank speaking to attendees about HUD Home-buying opportunities! We offer “HUD Homebuyer Education” for buyers interested on puchasing HUD Homes. Please attend one of our workshops to learn how to buy a HUD-owned property in California. HUD Homebuyer Education presents an amazing opportunity for those looking to  SAVE MONEY when buying a home in Southern California.  Learn the benefits of buying a HUD […]

NAR Claims Obama’s Zillow moderated housing chat is “not a serious discussion”

Posted Posted in In the News

ZIllow moderated housing chat is “not a serious discussion” Aug 7. By Andrea V. Brambila Associate Editor The selection of Zillow CEO Spencer Rascoff as the moderator of President Barack Obama’s chat with America about housing today seems to have the National Association of Realtors scrambling to explain how Zillow, and not NAR, got the call from the White House. A “special report” from NAR’s “Internal News Service” appears to lay out talking points for state and local association executives who are apparently facing questions like: “Why isn’t NAR involved in this event?” “Why is the White House working with Zillow? […]

Learn about Buying a HUD Home at Chase Irvine Branch Aug 9

Posted Posted in In the News, Irvine, Market Reports

Learn about Buying a HUD Home at our next Quarterly Buyer Outreach Event. Where: Chase Bank  Culver and Deerfield Branch 15275 Culver Dr. Irvine, CA 92604 When: Aug 9,  9:30am – 2pm PLEASE VISIT US! We will be at the bank speaking to attendees about HUD Home-buying opportunities! We offer “HUD Homebuyer Education” for buyers interested on puchasing HUD Homes. Please attend one of our workshops to learn how to buy a HUD-owned property in California. HUD Homebuyer Education presents an amazing opportunity for those looking to  SAVE MONEY when buying a home in Southern California.  Learn the benefits of buying a HUD home: Appraisals are […]

Buyer Select closing agent program expanded for HUD Homes

Posted Posted in In the News, Market Reports

Buyer Select closing agent program is now expanded to other counties: Los Angeles Santa Barbara Ventura San Bernardini Orange Imperial Riverside   HUD properties located in these counties will no require that buyers choose their own escrow company  – “BUYER SELECT” With the buyer Select closing agent program all buyers whose contracts are executed on or after March 8, 2013 will be able to choose their own escrow company. Please note escrow fees for the Buyer Select program will now be a buyer expense. Addendum: At the time of contract submission, the selling agent is required to complete an addendum […]

3.8 tax on home sales: What’s True, What’s Not

Posted Posted in In the News

The new 3.8 tax on home sales can be confusing to many since the details on Obamacare are just surfacing. Jesse Madison is a real estate broker in Orange County, CA and is not a CPA or attorney. Please consult your accountant regarding all real estate tax issues and all taxes pertaining to the new Obamacare  law. However, the California Association of Realtors (CAR) has provided us with their analysis of the 3.8% tax: Here is their video describing what is to come. What’s True, What’s Not 3.8 tax on home sales