Bill Black's Mortgage News for the NW

A new "creative" way of buying or selling property!   Scenario: You have grown out of your home for whatever reason or ready for a change and want to take advantage of the incredible market and low rates. You have a ton of equity in your home but still do not want to have to "give it away" in ord...

National Economic Update - March 23, 2009 The Commerce Department reported that housing starts unexpectedly jumped 22.2% in February to a seasonally adjusted annual rate of 583,000 units. This ended the longest streak of declines in 18 years. Economists had anticipated a 3.4% decline to 450,000 u...

Washington State now has a Draft for requirements to do a loan modification... I have cut & Pasted it below.  This again re-iterates the caution that is needed for those that are offering loan modifications. I have heard of a handful of Realtors offering loan modifications and are hired from an a...

  FANNIE MAY HOMEPATH PROGRAM OFFERS GREAT HOME BUYING OPPORTUNITY This one could come and go... I finally have a product that I am happy to announce to the world and happy to say it can make the american dream come true! It almost sounds too good to be true but it is the real deal... 3% down, no...

I ran into this post in another blog. I think we will see more and more shady companies getting shut down as a result of making false promises and collecting money to only put people into foreclosure.  March 5, 2009 United First Filed under: Foreclosure, Real Estate My husba...

I wanted to share a great local band... great to listen to some of their music as we see the economic world crumble... it kind of gives some peace:) http://www.myspace.com/intervision   Chat on Monday! Bill Black    

I just wanted to send a quick note to my readers to share a story that occurred yesterday. I had some clients that were 6 months behind with WAMU. They originated the loan with Long Beach Mortgage which was a sister company of WAMU. They owed $99,000 on the home that was valued at $160,000. The r...

Homeowner Affordability and Stability Plan Executive Summary The deep contraction in the economy and in the housing market has created devastating consequences for homeowners and communities throughout the country. Millions of responsible families who make their monthly payments and fulfill thei...

What exactly is the B-TOREN? (Bubble Tunnel of Real Estate Nightmare) Fannie Mae Lifts 4 Property Limit Beginning March 1st, 2009 Fannie will fund up to 10 loans after limiting the market to 4! The bankruptcy cram-down and the house passing a $15,000 buyers credit along with low rates could be wh...

Good times! How about $15,000 to get you off the fence Mr. Buyer! Going once….going twice…. SOLD! Senate voted to include a $15,000 homebuyer tax credit to the American Recovery and Reinvestment Act (a.k.a. the big Obama bailout). Of course this needs to pass the House but Obama was pushing to ge...