New Website Offers Guidance on Mortgage Questions

If you are wondering who qualifies for the government program for mortgage help, you can now check online.
The Obama administration introduced a Web site on Thursday to help troubled homeowners find out if they’re eligible for any relief under its loan modification or refinancing programs.    MakingHomeAffordable.gov

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Mortgage rates drop thanks to Fed announcement

Mortgage rates are dropping thanks to news that the Federal Reserve will buy another $750 billion in mortage backed securities. Read the press release here.
Bottom line: good news for those in a position to buy a home in the Seattle area.

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ING Bank files lawsuit for alleged local fraud scheme

Finally, it appears some people may start “paying” for the ridiculous amount of fraud that took place in the real estate and mortgage industry over the last few years.
ING Bank, the nation’s second-largest thrift, has filed an unusual racketeering lawsuit in federal court, alleging a criminal conspiracy by a local escrow agent, a mortgage broker and [...]

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FSBO Sales Fall

As the housing market gets tougher FSBO (For Sale By Owner) or the “Unrepresented Seller” model of home sales are falling.  Many real estate companies (most internet based) popped up during the housing run.  But now that it takes more than just putting a sign in the yard to sell a home, it would appear Sellers [...]

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Fannie Mae Changes Investor Loan Limits

In a fabulous move, Fannie Mae has made a change in investor guidelines.  Fannie Mae will now allow an investor to have 10 loans (the previous limit was 4).  That will help for those folks that can afford to buy some of the properties they recognize as a good investments and understand the long term value of [...]

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