As always, opinions are a dime a dozen. Even the most knowledgeable ‘experts’ on our housing market are divided on the status of our market. Most believe that we’ve either hit, or are very close to hitting, the bottom. Some have speculated that there’s a huge number of foreclosures that are still […]
Entries Tagged as 'Legislation and Policies'
Has Phoenix real estate hit bottom?
August 13th, 2009 · No Comments
Tags: Foreclosures/Short sales · Housing stats · Legislation and Policies
Loan modifications are failing — thanks to the banks, er, the government!
August 5th, 2009 · No Comments
Whenever I talk with homesellers who are in dire straits - without sufficient equity to sell and/or in immediate risk of falling behind on payments - the first thing I advise them to do is consult with their lender(s) to try to structure a loan modification. I encourage them to be honest with their lien […]
Tags: Experiences · Foreclosures/Short sales · Housing stats · Legislation and Policies · Random Musings · Sad
Fannie and Freddie to Step it Up
October 14th, 2008 · No Comments
According to REAL Trends, Fannie and Freddie notified bond traders last week that each company needs to purchase $20B per MONTH in underperforming mortgage securities. Their efforts are separate from the $700B bailout deal that was ratified last week. It will be interesting to watch the 2 companies, themselves laden with under-and-non-performing debt, bloat up […]
Tags: Legislation and Policies · Mortgage Reform
Just say “NO WAY!” to School District Unification Plans
October 3rd, 2008 · No Comments
There are several school redistricting plans that are coming up for vote in November. If approved, the plans would unify 76 elementary and high school districts into 27 K-12 districts throughout the state, including 34 districts that would be combined into six districts in Maricopa County.
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The Plan were drafted by the Arizona School District Redistricting […]
Tags: Legislation and Policies
$20M Federal Grant for Phoenix Real Estate Foreclosure Market
October 2nd, 2008 · No Comments
The City of Phoenix will receive about $40M from the Housing and Economic Recovery Act to bolster the hard-hit Phoenix real estate market. The funds are almost double what was expected, which is really not a good thing, as the funds are based on need.
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The grant will be applied across a number of initiatives at […]
Tags: Foreclosures/Short sales · Legislation and Policies
US government to take over Fannie and Freddie
September 8th, 2008 · No Comments
According to the Associated Press, the federal government is set to acquire Fannie Mae and Freddie Mac tomorrow. The move is designed to supersede the very real possibility that one or both could go bankrupt, leaving the American public in a very expensive and unfortunate predicament.
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Here’s the full story:
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The Bush administration, acting to avert the potential for major financial […]
Tags: Legislation and Policies · Mortgage Reform
Critical Housing Bill HR-3221 Passes the Senate - Headed to Congress
July 23rd, 2008 · 2 Comments
Here’s an important update from our friend Glen Reiley over at Bell Mortgage regarding HR-3221, a bill that will have far reaching consequences in the housing and mortgage lending industries.
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Important Legislative Update
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It looks like HR 3221 – has passed the Senate and is headed back to the House of Representatives. If passed, the President could […]
Tags: Guest Articles · Legislation and Policies · Mortgage Reform
New FANNIE MAE Refi Program Designed to Help Homeowners who are “Under Water”
May 9th, 2008 · No Comments
By the middle of 2008, Fannie Mae intends to introduce a program that would allow homeowners who currently owe more than their homes are worth to refinance their mortgage(s), giving them the opportunity to lock in a lower fixed rate.
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The amount refinanced would be equivalent to the existing mortgage and only homeowners who are current […]
Tags: Foreclosures/Short sales · Housing stats · Legislation and Policies
Vote “YES” for the Protect Our Homes Initiative in November to Prevent Real Estate Transfer Taxes
May 7th, 2008 · No Comments
The Arizona Association of Realtors and others have petitioned to bring to the voters an initiative called, “PROTECT OUR HOMES,” which aims to implement pre-emptive verbiage into existing legislation to prevent real estate transfer taxes. This is a very important measure for the long-term strength of our state’s housing market and for the American Dream […]
Tags: Legislation and Policies
