Homeownership at Best!

Homeownership at Best!

Federal Housing Finance Agency has been working towards a plan to open what many we see as underwriting standards that are too restrictive.

Mortgage giants Fannie Mae and Freddie Mac, their regulator and lenders are close to an agreement that could greatly expand mortgage credit while helping lenders protect themselves from charges of making bad loans, according to people familiar with the matter.

Homeownership getting better!

Homeownership Gets Better!

If the agreement is completed, lenders may be more willing to lend to borrowers with lower credit scores and smaller down payments.

Now that lenders are starting to remove some of the credit overlays, it is time to improve the growth of homeownership in the country

We expect FHFA to report the steps to further move and clarify lender liability and support the return of the 97% LTV product at the GSEs, Fannie Mae and Freddie Mac.

Fannie Mae and Freddie Mac have recouped tens of billions of dollars in penalties from lenders in recent years over claims that the lenders made underwriting mistakes on loans they sold to the mortgage giants.

However, Lenders have blamed those penalties for tight credit conditions and for prompting them to make loans only to borrowers with near-pristine credit.

We hope these initiatives will have a meaningful impact on the mortgage market, and we can see positive changes in the direction of the mortgages industry after years of tightening credit issues.

Next Tuesday will see the existing home sales report for September, on Thursday the FHFA purchase-only house price index for August, and Friday the new home sales report.



NOW is the time…Rates don’t wait!

If you have higher mortgage payments, now is the time to change it!  In recent years we have seen many changes in our national economy. We have seen cuts in interest rates given by the Federal Reserve cuts not seen for many years. imagesCA68GG1H

One situation that influenced home foreclosures for many homeowners were the high interest rates they were granted. These mortgage loans  were presented for a large number of months as a fixed payments and later converted into variable rates, causing a drastic financial instability in many homeowners facing now a new higher mortgage payment.

The HARP Refinance Program gives the Homeowners that have not been behind in the last 12 months, and can prove income under the new conditions and repayment capacity; the opportunity to refinance with low current interest rates. This means that you can refinance even if the actual mortgage balance is higher than the value of your property on the market today.  The HARP and FHA programs are the only programs that allow you to refinance under these terms.

Compare and discuss your options and determine if refinancing NOW is financially right for you. The essence of refinancing is to find the best fit and financial balance  for you and your family. Remember, an informed decision is the best guarantee!

La Venta de Casas muestran estadísticas alentadoras

La Venta de Casas muestran estadísticas alentadoras

Las Ventas de Casas  existentes, excluyendo las ventas angustiadas, muestran  actualmente estadísticas muy alentadoras.

home-salesEsto, según reportes de Trulia y de la Asociacion Nacional de Realtors, estas estaban en el 80 por ciento de su normalidad en Agosto.  El reporte de Trulia mostró también que los precios presentaban un 3.4 por ciento de devaluación en el tercer trimestre, una mejora marcada comparada con una devaluación del 13.5 por ciento en el momento que estallo la burbuja hipotecaria. Esto significa que los precios ahora están tres cuartas partes camino a la normalidad.

Las tasas de morosidad y las ejecuciones hipotecarias también han mejoraron mucho. Según Trulia y Black Knight la tasa de morosidad y las ejecuciones hipotecarias a nivel nacional bajaron dramáticamente volviendo casi a un 74 por ciento de su normalidad en Agosto. La disminución en los atrasos hipotecarios y ejecuciones hipotecarias han ayudado a estabilizar notablemente el sistema financiero y el sector vivienda en las áreas que fueron afectadas por la crisis hipotecaria.

Home sales show encouraging stats

Home sales show encouraging stats

Existing home sales, excluding distressed sales, are the most encouraging stats at the moment. These, according to Trulia and the National Association of Realtors, were 80 percent back to normal in August.

home-salesTrulia’s Bubble Watch also showed that prices were 3.4 percent undervalued in the third quarter, which is a marked improvement over the 13.5 percent undervaluation at the worst of the housing bust. That means prices are three-fourths of the way back to normal.

Delinquency and foreclosure rates also were much improved. According to Trulia and Black Knight, the national delinquency and foreclosure rate was 74 percent back to normal in August, the same as one quarter ago and up from 56 percent one year ago. The decline in defaults and foreclosures has helped stabilize the financial system and hard-hit neighborhoods.

Tu Casa: ¿Moderna o Tradicional?

Tu Casa: ¿Moderna o Tradicional?

Redecorar nuestra casa no debe considerarse como una actividad costosa y complicada.  Los colores, estilos y balance en la decoración afecta cómo vemos nuestro entorno.  fantastic-modest-white-color-scheme-living-room

Las ideas de iluminación, esquema de colores apropiados y el uso de telas para enfatizar y proporcionar luz para las habitaciones de nuestra casa son elementales.

El equilibrio es la parte más importante de la decoración en nuestras casas, porque tienen el poder de afectar la forma en que percibimos las cosas.

Open Plan LivingEsto podemos utilizarlo a nuestro favor si sabemos lo que estamos buscando o el efecto que esperamos. Los Colores afectan a las personas de muchas maneras, dependiendo de la edad, género, origen étnico o clima local.  Así que cuando se trata de decorar, es importante elegir sabiamente.   No tienes que preocuparte demasiado por las tendencias, estas van y vienen.

Haz de tu casa el lugar más hermoso eligiendo los colores y estilos que reflejan tu personalidad.

Your Home: Modern or Traditional?

Your Home: Modern or Traditional?

fantastic-modest-white-color-scheme-living-roomNothing is extra comfortable than coming back to our homes, full of heat and love after taking care of  stack of issues at work.

Decorating or redesigning our homes should not be thought as an expensive or complicated activity.

We have to make sure that the design Open Plan Livingwe choose will be sophisticated rather than unnecessary. Color, style and balance are not a neutral sort of thing. It affects us and how we see our surroundings.

The usage of appropriate color scheme and fabrics to emphasize and provide light for the rooms in our home play a very important role.     Balance is the most important part of home decorating, and it applies to colors as Luxury Home Kitchen.well. They have the power to affect        how we perceive things.

Room colors can influence our mood and our thoughts. Colors affect people in many ways, depending upon one’s age, gender, ethnic background or local climate. So when it comes to decorating, it is important to choose wisely.

You do not have to worry too much about trends, as they come and go. Make your home beautiful by choosing Colors and styles that reflect your personality.  Have fun!

Mortgage Rates slightly higher

Mortgage Rates slightly higher

Finding-a-refinance-rate-for-your-homeMortgage rates are higher today, leaving September as one of only 3 months this year with noticeable upward movement.

And today was an exception to that recent trend, but it’s tempered by the fact that yesterday’s gains were the best of the month.

The only downside is that the most prevalently-quoted conforming 30yr fixed rate for top tier borrowers remains 4.25% whereas it would have likely moved to 4.125% if rate went the other direction today.

These movement considerations may be small scale compared to what lies ahead.  Several big tickets events are coming up in the second half of this week and they stand a good chance to increase the level of volatility.

Septiembre: Notable crecimiento en la confianza del consumidor.

Septiembre: Notable crecimiento en la confianza del consumidor.

La confianza del consumidor alcanzó su nivel más alto desde la gran recesión en Septiembre, según las encuestas realizadas por  la Universidad de Michigan y Thomson Reuters a los consumidores.  Este reporte reflejó  las perspectivas optimistas sobre la economía en general  así como de los  ingresos personales.

consumer-confidenceEl índice de las expectativas del consumidor  aumentó 5,8% durante el mes de Septiembre, mientras que el índice de condiciones actual  se redujo 0.9 por ciento.

Además, un creciente número de consumidores espera que sus ingresos vayan a aumentar durante el próximo año. La expectativa de crecimiento del ingreso promedio registrada en Septiembre fue del 1.1 por ciento, que es la más alta vista desde finales de 2008.

Al mismo tiempo, consumidores anticipan más probabilidades de crecimiento en sus  ingresos que desde el 2008.  La renovación del crecimiento del ingreso es particularmente importante para el gasto de los consumidores, y si a esto se  añaden  los cambios pendientes a la política monetaria  de ingresos se impulsaran más  ganancias  y continuará  incrementando la confianza de los consumidores.

September:  Highest Consumer Confidence

September: Highest Consumer Confidence

Consumer confidence reached its highest level since the Great Recession in September, according to the Thomson Reuters and University of Michigan Surveys of Consumers.

consumer-confidenceSeptember’s increase in consumer confidence is the result of optimistic outlooks on the overall economy and personal incomes.  The consumer expectations index rose 5.8 percent over the month of September, while the current conditions index fell 0.9 percent.

Additionally, a growing number of consumers expect their incomes to increase over the next year. The median income growth expectation reported in September was 1.1 percent, which is the highest expectation since late 2008. At the same time, more households anticipate income growth now than at any time since September 2008.

The renewal of income growth is particularly important for sparking consumer spending, and adding pending changes to monetary policy will make income gains prompt to boost even more consumer’s confidence.

80,000 Foreclosures prevented!

The Federal Housing Finance Agency (FHFA) indicated in its report on foreclosure prevention  for Q2 2014 released on September 24, that Fannie Mae and Freddie Mac  prevented nearly 80,000 foreclosures nationwide in the second quarter, raising the total number of foreclosures prevented since the start of the conservatorship in September 2008 to 3.3 million.

fThe measures taken by the two GSEs to prevent foreclosures have helped about 2.7 million borrowers remain in their homes in the last six years, with approximately 1.7 million of those borrowers receiving permanent loan modifications. The number of foreclosures prevented is down 10 percent from Q1, when GSE measures stopped almost 89,000 foreclosures.

FHFA reports as well that about 37 percent of those who received permanent loan modifications were able to reduce their monthly payments by more than 30 percent in second quarter.