Over 250,000 new jobs needed monthly, on a sustained basis, to reabsorb all the jobs lost since the recession. Unemployment rate moves up to 9 percent; average unemployment duration was 38.3 weeks in April, down slightly from the record of 39 weeks in March. The rate of seriously delinquent mo
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05/12/2011
The accuracy of U.S. credit reports has been validated by a new report from the Policy & Economic Research Council (PERC) Titled "U.S. Consumer Credit Reports: Measuring Accuracy And dispute Impacts", the study found less than 1 percent of all credit reports examined by participants prompted a di
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05/11/2011
The Renovation Lending Institute will help you turn a bank owned foreclosure home from a dog into a dream home with an FHA 203k renovation home loan. Remodel any home with just 3.5% down and include money for all fix up costs including a new kitchen, bathrooms, flooring, paint , carpet, windows,
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05/09/2011
"Architect Magazine" released it Spring 2011 "Product Spec Guide" with over a hundred new products in six categories: Interiors, Envelope, Systems, Lighting, Outdoor, and Materials. Homeowners and potential homebuyers should review the ideas contained in the incredible resource. Click on the link
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05/07/2011
Ten Larger Counties Distressed Mortgage Percentages - 3d Quarter 2010 Loan Count 90-Day Delinq. % Del. Defaults % Defaults % Distressed Miami-Dade 366,775 26,735 7.29% 64,708 17.64% 24.9% Broward (Ft. Lauderdale) 328,721 21,939 6.67% 44,251 13.46% 20.1% Orange (Orlando) 204,944 13,020 6
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05/07/2011
Proposals to reform the housing finance market via increased down payments and higher credit standards may disqualify many lower-income borrowers A large share of these borrowers are minorities and people of color It is now clear that the subprime mortgage and foreclosure crisis centered around
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05/05/2011
The Dodd-Frank financial reform bill has a provision that requires credit scores and related information to accompany any risk-based pricing or adverse action notice These new requirements take effect on July 21, with a goal of providing additional consumer access to credit scores The hope is fo
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05/04/2011
The HUD "Good Neighbor Next Door" home sales program has just listed a 3-bedroom SFR in Perris, CA for $65,000. An eligible teacher, police officer, fire fighter or EMT can purchase the home for a 50% discount or $32,500. If an FHA 203k or regular FHA loan is used the down payment can be as low a
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05/03/2011
FULL INCOME AND ASSET DOCUMENTATION Complete copies of latest two years federal tax returns with ALL schedules Latest two or sometimes three months complete bank statements with borrower's name and account # Latest 30 days pay stubs showing gross income, deductions and net pay. Must have borrowe
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05/02/2011
Purchase a home using an FHA loan and a distribution from a retirement account for the down payment is one option Another option is a California Homebuyer's Downpayment Assistance Program (CHDAP) CHDAP provides a deferred-payment junior loan - up to 3% of the purchase price, or appraised value,
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04/30/2011
