Just as our local communities have evolved, we've seriously considered for the past several years how we could someday "give back" and "finish well" - expressions that can mean a lot of things to different people.
As part of our research into opportunities for service, in early 2013 we contacted a Peace Corps recruiter who helped us start our journey. But our new path wasn't going to be as straight and easy as we thought! And so we began a transition into something completely different from the routines we've known for the past 30 years - and have begun a path that's leading into the exciting unknown. This will be our story!
By Don | November 14, 2008
The FDIC today unveiled a plan (see the plan here) to help about 2.2 million troubled loans from entering foreclosure. Acknowledgeing the massive scale of the mortgage crisis, and the “extremely slow” pace of current soluntions, FDIC chair Sheila Bair is floating this massive plan as a solution, but it would appear the plan isn’t meeting with support from within the current Bush administration. However, the Democrats appear more willing to consider proposals such as this plan the FDIC is putting forth. Stay tuned…!
Filed under article topic:
Mortgages/Interest rates
Comments Off on New FDIC proposal unveiled for troubled loans
By Don | November 13, 2008
The following was copied from a California Association of Realtors email this morning:
FHFA ANNOUNCES “NEW” CONFORMING LOAN LIMITS
The Federal Housing Finance Agency (FHFA) on Friday announced that the “new” conforming loan limit for 2009 will remain at $417,000 for most areas in the U.S., unchanged since 2006. Loan limits for high-cost areas, including California, are capped at $625,500, down from the previous $729,750 limit. Loan limits for many areas of the state do not reach this lower threshold and are dramatically reduced from 2008. Read the rest of this article »
Filed under article topic:
Mortgages/Interest rates
Comments Off on Reduction in loan limits for 2009
By Don | November 13, 2008
Fannie and Freddie’s announced their loan mod program yesterday. To be eligible, a homeowner must:
- have missed three or more payments;
- own and occupy the property as a primary residence;
- have not filed for bankruptcy;
- and be able to have their mortgage modified so their entire mortgage payment, including association dues, if applicable, is no more than 38 percent of their gross income.
The program is due to kick in December 15th.
Filed under article topic:
Mortgages/Interest rates
Comments Off on Fannie Mae and Freddie Mac announce their loan mod program
By Leslie | November 11, 2008
The sold statistics are in for October and the number of homes sold in October is similar for each of the three cities to the numbers for September. Also, the asking price is very close to the selling price for each size home for Ventura, Oxnard and Camarillo.
Filed under article topic:
2008 Solds
Comments Off on October sold statistics for Ventura, Oxnard and Camarillo
By Don | November 11, 2008
Citigroup joined JP Morgan Chase, Bank of America, FDIC (IndyMac) and Wells Fargo (after it completes its purchase of Wachovia), in unilaterally attempting to do loan mods for about 500,000 homeowners who are holding about $20 billion in mortgages. Read the rest of this article »
Filed under article topic:
Mortgages/Interest rates
Comments Off on Citigroup joins other major banks doing loan mods