San Jose, Bay Area and California Mortgage Blog

  FHA delays implementation of HVCC for Sunnyvale Home Loans until February 15, 2010. FHA announced today that the enactment of Appraiser Independence has been delayed. This was originally planned for a January 1, 2010 implementation. On the lines of HVCC, the FHA policy prohibits mortgage broker...

Your weekly dose of economy and mortgage market news that affects mortgage rates for San Jose Home Home owners and buyers. The week that was: The statement from the last FOMC meeting wasnt much of a change. The fed stuck to keeping the rates low for "extended period". But how "extended" is "exte...

  A short sale is a transaction where a seller sells the property for less that what was owed. Short sale is increasingly becoming a common option to sell a house in Santa Clara County. If you went through a short sale you could have this question - Do I now qualify for a loan? FHA recently came ...

California Association of Realtors (C.A.R.) measures First-time Buyer Housing Affordability Index (FTB-HAI) on a quarterly basis. This measures the percentage of households that can afford to purchase an entry-level home in California. The higher the index, more affordable it is for a first time...

Effective immediately, FHA has rescinded the second appraisal requirements for properties located in San Jose and rest of the Bay Area (Considered declining markets). For Bay area borrowers where loan amounts can generally exceed $417,000 2nd appraisal requirement was a problem on 2 counts: Incr...

  Fannie Mae announced a program called "First Look" which will help First Time Home Buyers compete with investors for foreclosed homes in San Jose and rest of the Bay Area. Under the program, dubbed First Look, Fannie plans to consider offers only from potential owner-occupants and certain publi...

The week that was: Oct retail sales were +1.4% overall and ex autos +0.2%. Retail sales are increasingly of interest to markets as we move into Christmas shopping ( the politically correct reference is Holiday shopping). NY Empire State manufacturing data; the overall index declined to 23.51 fro...

I designed this kit for all my Realtor friends out there. The Kit has:   Email Template - You can cut & paste it and email to your database Video - A video that explains to your clients the Home Buyer Tax Credit in simple English and has a call to action to Act Now FAQs - A list of FAQs on the Ne...