Fannie Mae gets tough on homeowners who walk away - Fannie Mae is trying to encourage distressed homeowners to find alternatives to foreclosure by banning those who walk away from getting new loans for 7 years. Troubled borrowers who do not try in good faith to work out a deal, but have the capacity to pay, are targeted by the policy. "Walking away from a mortgage is bad for borrowers and bad for communities and our approach is meant to deter the disturbing trend toward strategic defaulting," said Terence Edwards, executive vice president for credit portfolio management. Read full article:
http://www.usatoday.com/money/economy/housing/2010-06-23-fannie-mae-walk-aways_N.htm
Fannie Mae gets tough on homeowners who walk away
1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 26 2010 09:14AMBanks: We're hiring so we can make more home loans
Banks: We're hiring so we can make more home loans - Several banks are gearing up to do a whole lot more mortgage lending in the future. These banks are hiring hundreds of loan originators, getting ready for what they believe will be a significant pick-up in lending. JPMorgan Chase is in the midst of hiring 1,200 mortgage officers. "We may not be inundated with applications tomorrow, but we are confident the the need will be there," said Christine Holevas, a spokeswoman for JPMorgan Chase. Read full article:
http://money.cnn.com/2010/06/24/news/economy/mortgage_lending/index.htm
3 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 26 2010 09:13AMRecord-low mortgage rates boon for housing
Record-low mortgage rates boon for housing - Mortgage rates fell this week to the lowest level on record, motivating consumers to lock in low payments for home purchases and refinanced loans. It's the best news the market has seen since the tax credits expired. The average rate for 30-year fixed- rate loans dropped to 4.69%, Freddie Mac said Thursday. The high-end market is seeing a surge in sales as a result of the lower interest rates. A year ago, the rate for a jumbo loan ranged from 6.25% to 6.75%. Today, it's about 5.75% for a 30-year fixed-rate. Read full article:
http://www.denverpost.com/business/ci_15371813
4 comments • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 26 2010 08:34AMToby Keith & Trace Adkins - Englewood CO - $10 tickets!
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1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 25 2010 06:00PMLucky Strike Lanes, Denver CO - Two Hours of Bowling for Four People $40
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1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 25 2010 04:23PMJude Sandvall's Client Testimonials - Stephanie & Don M. Englewood, CO
1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 24 2010 12:32AMAurora, CO Park Reviews - Rolling Hills Elementary School Park (Tuscany)
1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 23 2010 02:46PMBorrowers face new set of credit checkups
By DAVID FLETCHER, INMAN News
Mortgage giant Fannie Mae rolled out its Loan Quality Initiative (LQI) June 1, thereby forcing homebuyers to obtain mortgages based on "refreshed" credit reports or risk their closing being canceled and, in some states, their deposits forfeited.
In other words, the buyer is not officially approved for the mortgage until the results of second credit report are approved. There may be other last-minute verifications of undisclosed liabilities, such as job status, that may be "refreshed" as well.
http://www.inman.com/news/2010/06/23/borrowers-face-new-set-credit-checkups 1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 23 2010 01:28PMBackcountry Provisions - LoDo - Denver, CO - 50% Off
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1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 23 2010 01:25PMCensus shows 11 Colorado cities top 100,000 residents
Census shows 11 Colorado cities top 100,000 residents - Boulder and Centennial cracked the 100,000 mark in 2009, according to the latest U.S. Census Bureau population estimates released yesterday. Hitting the 100,000 mark can give a city a boost when it comes to state and federal funding. Sheridan - the small city south of Denver - saw its population rise 13.9%, to 6,188 people, between July 2008 and July 2009. Only the town of Timnath had a bigger percentage growth last year - 27%. Read full article:
http://www.denverpost.com/ci_15354526
http://www.denverpost.com/ci_15354526
1 comment • Jude Sandvall, ABR, CNE, SFR 720-255-1021 • June 23 2010 01:23PMContent © 2009 'Frequent Contributors'. Design © 2009 ActiveRain Corp.
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