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FHFA Sends Congress Strategic Plan for Fannie Mae and Freddie Mac Conservatorship

February 24, 2012 By Leave a Comment

FEDERAL HOUSING FINANCE AGENCY

NEWS RELEASE

For Immediate Release Contact: Corinne Russell (202) 649-3032

February 21, 2012 Stefanie Johnson (202) 649-3030

FHFA Sends Congress Strategic Plan for

Fannie Mae and Freddie Mac Conservatorships

Washington, DC – Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco today sent to Congress a strategic plan for the next phase of the conservatorships of Fannie Mae and Freddie Mac (the Enterprises).   The plan builds on the Acting Director’s February 2010 letter to Congress on the conservatorships and sets forth objectives and steps FHFA is taking or will take to meet FHFA’s obligations as conservator.  Fannie Mae and Freddie Mac were placed into conservatorships Sept. 6, 2008 and have since received more than $180 billion in taxpayer support.

FHFA identifies three strategic goals for the next phase of the conservatorships:

 Build.  Build a new infrastructure for the secondary mortgage market;

 Contract. Gradually contract the Enterprises’ dominant presence in the marketplace while simplifying and shrinking their operations; and

 Maintain.   Maintain foreclosure prevention activities and credit availability for new and refinanced mortgages.

“With the conservatorships operating for more than three years and no near-term resolution in sight, it is time to update and extend the goals and directions of the conservatorships,” DeMarco wrote.  “FHFA is contemplating next steps to build an infrastructure for the secondary mortgage market that is consistent with existing policy proposals and will support any outcome of the leading legislative proposals.  FHFA looks forward to working with Congress and the Administration on a resolution of the conservatorships and a comprehensive review of the nation’s housing finance system,” said DeMarco.

Link to February 2010 letter

 

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Becoming Liable for the Impossible: FMV Certifications in Short Sales :: California Short Sale Lawyer™

February 22, 2012 By Leave a Comment

Becoming Liable for the Impossible: FMV Certifications in Short SalesPosted by Ron BallardAre sellers, brokers and buyers in a short sale transaction being set up by the big banks?Most lenders routinely require that the seller, listing agent and often the buyer and their agent sign some kind of certification, representation, or declaration/affidavit that the short transaction is being conducted at “fair market value” FMV or “market value” or “based on market value.” Often the certification takes the form of a sworn affidavit or a declaration under penalty of perjury.By definition, it is IMPOSSIBLE for a short sale to occur at fair market value. By refusing to approve the short sale without the FMV certification, the banks are requiring the signers of the certification to engage in an active misrepresentation for which the bank may come back in the future and make a claim of fraud against all involved.Accordingly, one signs these certifications only at their own peril of liability for the bank’s payoff discount and possible prison time.

via Becoming Liable for the Impossible: FMV Certifications in Short Sales :: California Short Sale Lawyer™.

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Dallas Fort Worth Real Estate InvestorsDallas/Fort Worth Real Estate Investing

February 21, 2012 By Leave a Comment

We are preparing the launch of our new site.  I am very excited about the networking opportunities.

Dallas Fort Worth Real Estate InvestorsDallas/Fort Worth Real Estate Investing.

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Buying or Selling a Home Now! |

February 20, 2012 By Leave a Comment

Buying or Selling a Home Now!

People wonder when is the best time for buying or selling a home. The last decade has had so many interesting times that many people question the validity of owning real estate. Unlike other forms of investment, real estate or property ownership is one of the few that will still have value no matter what the government is doing. The home you own is a place to live that will keep you dry and warm no matter what else is going on in the universe.

There are other great reasons for buying a home or selling a home to look for a new one now.

Value – Although your home may not be worth millions in the short term, over decades your home is sure to increase in value and provide you and your family with many years of happiness. Real estate is a great long term investment.

Buyer’s market – In order to increase a property’s value, the homes around it must be selling. That is why buyer’s are so desperately needed. They not only buy properties; they determine the real estate market. With so many homes on the market, it is a virtual buyer’s smorgasbord.

Seller Cooperation – Most of the time, sellers are sticklers. They will not give in unless they are getting only the highest and best amount for their real estate. The truth of the matter is, sellers forget they need buyers or else there isn’t a sale. The great result of the crazy market is the return of the value of the buyer and the cooperation of the seller. Sellers are willing to negotiate to get what they and the buyers want.

Tax Breaks – The government has given all kinds of tax breaks to those individuals that are home owners. For awhile, they were even giving extra tax breaks to first time home buyers. The rules on these breaks are always fluctuating, but the good news is, homeowners get to save more on their taxes. That should be enough for anyone to consider home ownership!

Financing – more than ever before, there are tons of financing opportunities for those individuals that want to buy a home. Not every type of financing is available for every property. However, there are more opportunities for home ownership due to the amount of alternative financing than there has been the last decade or two. If you want to own a home, you can find one that can be financed for you, even with credit problems.

via Buying or Selling a Home Now! | We Buy Ugly Houses We Pay Cash For Houses Sell Your House Fast.

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Roddy Real Estate Investing Show week 5 of 2012

February 19, 2012 By Leave a Comment

www.Roddy.com & http This week on the Roddy Real Estate Investing show, George and Rebecca talk about: Foreclosure Auction – Feb 7th from 10am to 4pm Foreclosure Auction field trip – go to www.Roddy.com to register Three leads to incorporate into you business – Absentee owners – Over 65 owners – Long Term owners Get these leads at www.flsonline.com Finally, get an online contract writing program at http It cost $9.99 a month, but you can take $5 off if you put in the discount code: RODDY. Have a great week and call us if you have any questions or need real estate advice.

via Roddy Real Estate Investing Show week 5 of 2012.

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Building a home and selling your existing home first — Rockwall Realtor

February 19, 2012 By Leave a Comment

The Real Estate Journey of Jack and Joan…

FEBRUARY 17, 2012 BY JENNIFERHERRIAGE LEAVE A COMMENT (EDIT)

Congratulations to Jack and Joan!  They just closed on their new Dree’s home in the Stone Creek subdivision in North Rockwall.  For Joan and Jack it has been a journey that many buyers and sellers face.  They wanted to build a new home, but had to sell their existing home first.  The selling and buying process ends today, but it is just the beginning of their new life in their new home!

Jack and Joan first called me in September 2011.  They wanted to build a new home, but needed to sell their home first.  I walked them through the process and gave them an idea of what they could expect from the sell of their existing home.

Like most buyers, Jack and Joan were sceptical about entering into a contract for a new home when their existing home had not yet sold.   That is one of the many reasons I referred them to Drees.  Drees has an excellent contingency program that allows buyers to contract a new home with the understanding that their existing home must sell first.  While they did have to put up a down-payment, if for some reason their home did not sell, they would have gotten 100% of that down payment back; no questions asked!

via Building a home and selling your existing home first — Rockwall Realtor.

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RECON (Real Estate Center Online News)

February 17, 2012 By Leave a Comment

February 17, 2012

State’s Mortgage Delinquency Rate Up

DALLAS (Dallas Morning News) – Texas’ mortgage delinquency rate in fourth quarter 2011 was about a third of a percentage point higher than in the previous quarter, the Mortgage Bankers Association reported yesterday.

During the last three months of 2011, more than 276,000 Texas homeowners (9.07 percent) had missed a mortgage payment. Nationally, the rate was 7.58 percent.

According to the mortgage bankers, Texas now has the 14th-worst mortgage delinquency rate among the states.

One bright side: Texas’ fourth quarter delinquency rate was less than it was at the end of 2010.

via RECON (Real Estate Center Online News).

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