Corona California Homes and More!

FHA to toughen rules for borrowers The Federal Housing Administration (FHA) is proposing raising minimum credit scores for borrowers who receive FHA-backed mortgages, increasing down payment requirements, and limiting the amount of money sellers can provide toward closing costs. The proposed changes are part of an effort to shore up the ...

Starting July 30, 2009, if the APR on an initial Good Faith Estimate is no longer accurate (within a 0.125% range) at close of escrow, a lender must generally provide a residential borrower with a new disclosure and a three-day right to rescind before consummating the loan. REALTORS(R) are forewarned that, because of this new three-day waiting ...

Calif. median home price - May 09: $267,570 (Source: C.A.R.) Calif. highest median home price by C.A.R. region April 09: Santa Barbara So. Coast $875,000 (Source: C.A.R.) Calif. lowest median home price by C.A.R. region April 09: High Desert $106,210 (Source: C.A.R.) Calif. First-time Buyer Affordability Index - First Quarter 2009: 69 percent ...

Recent news headlines have caused confusion by mischaracterizing the new California Foreclosure Prevention Act as a 90-day moratorium and incorrectly stating that the lender must modify delinquent loans before it begins foreclosure. In reality, the foreclosure process for certain owner-occupied residential first trust deeds has been extended by 90 ...

Pending US Home Sales Surge Pending US home sales skyrocketed to their highest number in 7 years, a sure sign that the bottom is forming and that bargain seekers have arrived.  The National Association of Realtors reported that its seasonally adjusted index of sales contracts signed (the Pending Home Sales Index) jumped 6.7% to 90.3, well ...

CALIFORNIA HOMEOWNERS ARE BEING TARGETED BY CON ARTISTS OFFERING FORECLOSURE ASSISTANCE The U.S. Department of Housing and Urban Development (HUD) has issued a warning that California homeowners are increasingly becoming the target of con artists trying to loot families of their bank accounts with phony promises to avoid foreclosure. HUD ...

Freddie Mac says housing sales are near bottom Frank Nothaft, chief economist of Freddie Mac, said on Saturday that housing sales are nearing a bottom, with foreclosures accounting for a third of all sales.  But you knew there's a "but" coming, right?  Yup...Nothaft added that unemployment and house price declines will ...

Interest Rates are Falling! 30 Year Fixed  5.91%15 Year Fixed  5.47%5/1 Arm           5.52%30 Year Fixed Jumbo  6.58%5/1 Jumbo Arm 5.99%Thank You to Bankrate.com for providing the rates!Thank you for visiting, and have a safe and happy Thanksgiving week! Liane Thomas, ...

Interest Rate Snapshot November 9, 2007Loading Posted November 9, 2007Interest Rates are Great!30 Year Fixed  5.97%15 Year Fixed  5.57%5/1 Arm           5.58%30 Year Fixed Jumbo  6.57%5/1 Jumbo Arm 6.03%Thank You to Bankrate.com for providing the rates!Did you know there is a ...

As announced on Wednesday October 31, the Federal Reserve cut its benchmark interest rate by a quarter percentage point! What a wonderful Halloween treat for homeowners and investors! What does this mean to you? If you have a revolving HELOC, it has been at 7.75%. As of now it has dropped to 7.50%, and you didn't have to ...