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 ...

[calendar:2009-11-08 2009-11-08] Riverside County, California  -  We invite everyone to visit our open house at 14957 Old Grove Road on November 8 from 10:00 AM to 1:00 PM. Property information

Riverside, San Bernardino  -  The 2 story at 3803 Clarkson Street has been sold. This was a short sale that the family owed over $400,000 and we were able to sell it for $189,000. AND the bank agreed with us, and told the seller they did not have to repay the difference! AND the bank paid all the fees associated with the sale, so it ...

CNN is searching for a bottom in the housing market With consumer confidence rising in May to its highest level in eight months, housing starts increasing more than 17 percent in May compared with the previous month, and sales of existing homes climbing 2.9 percent in April nationwide, it appears that the housing market may be stabilizing. So ...

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 ...

Did you know the Obama administration, through the Making Home Affordable program, is giving lenders and loan providers an incentive of up to $1,000 for each completed short sale? This is in addition to $1,000 to share the cost of paying any second-mortgage lenders to release their claim on the property. These incentives offered by the ...

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 ...

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 ...

A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $500,000. The market value of the home is $350,000. Long story short, the lender accepts the offer for $350,000 and the home is sold.  That's a short ...