Lending
MCAR Legal Update with C.A.R’s Gov Hutchinson
Gov Hutchinson, Assistant General Counsel for the California Association of REALTORS® was the key-note speaker for last week’s MCAR Legal Update.
Gov presented on numerous legal topics affecting agents in the field and briefed the membership on new laws impacting transactions, homeownership and general real estate practices. For those unable to attend, a video of the [...]
Making Home Affordable Plan
On March 4, 2009, the Obama Administration released detailed guidelines for homeowners to help them determine if they qualify for the Administration’s new Making Home Affordable plan. This is a follow up to the Administration’s announcement on February 18 outlining their plan to stem the current tide of foreclosures and stabilize the nation’s housing [...]
The Stimulus Package and Real Estate
The Stimulus Package and Real Estate
Last week the U.S. House of Representative passed H.R. 1, the Economic Recovery Package, by a 244 to 188 vote. The bill contains a number of issues critical to the real estate industry. One of the most important components included in the bill is the extension of the 2008 [...]
The Foreclosure Timeline
Starting September 8, 2008, California has a special foreclosure timeline for loans originated between 2003 and 2007, which are secured by owner-occupied residences. Loans involved in short sales are likely to be owner-occupied loans from the years 2003 to 2007, which was the heyday for sub-prime lending. The special foreclosure timeline does not apply [...]
Conforming Loan Limit Adjustment
Before this year, one conforming loan limit applied to the entire country. The amount was $417,000 for a single family unit (since 2006). When Congress allowed for the increase in February of this year, it was done so based on 125% of an areas median home price. The floor was set to $417,000 and the [...]
Voters Inspired
I am sure many of you have heard of the campaign to “Get Out The Vote” or GOTV - it is a reference to each political party’s attempts to energize their voting base through various activities. Republican or Democrat, no doubt there was a GOTV effort in your city or town.
GOTV efforts produced results [...]
Was Anyone Listening???
By Sandy Haney
CEO, MCAR
Below is a letter written by one of our REALTOR® members and former MCAR Director, Eugene Ferris. Eugene wrote of his concerns regarding the loose lending practices in January, 2005 and sent it to three of our local newspapers. His prediction was six months prior to when the market started [...]
