Monthly Archives: January 2008

California Legislature Wooses on Foreclosure Legislation

California’s state senate narrowly defeated a bill Wednesday that targeted the growing problem of foreclosed homes sitting vacant for months, drawing squatters and creating blight. Lenders would have been fined $1,000 a day for not maintaining vacant properties, and they … Continue reading

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California Counties in Home Foreclosure Problems

What could be worse than getting behind on mortgage payments? Owing your lender more than your home is worth. That’s what’s happening to homeowners across the country, many of whom just a couple of years ago opted for interest-only or … Continue reading

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Fanny Mae Gets Double Up Pricing for Help!

Hoping to speed delivery of its $150 billion pick-me-up for the U.S. economy, the Bush Administration reluctantly agreed to temporarily increase the size of the mortgages Fannie Mae (FNM) and Freddie Mac (FRE) can purchase, from $417,000 to nearly double … Continue reading

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Mortgage Rates Lower as Fed Drops Prime

In hope of thwarting a recession, the Federal Reserve took a drastic step last week: a 0.75-percentage-point emergency interest-rate cut, bringing its target short-term rate down to 3.5%. For consumers, this is mixed news. On the bright side, a drop … Continue reading

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California Benefits from Stimulus Package

The economic stimulus package introduced Thursday included a provision long sought by California housing leaders that would benefit home buyers and homeowners across the state, but especially in the Bay Area, where residents must contend with some of the highest … Continue reading

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