Lots of borrowers lately, says the New York Times, are opting to do a cash-in refinance. As opposed to a cash-out refinance, in which a borrower pulls money out of...
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The Rules Are Strict for a Condo Loan Monday, August 30, 2010

If you're not paying cash, then you're definitely getting a condo loan to finance a condo. It's not as easy as you may think. Condo loans aren't like regular loans. You've...
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Federal Reserve Bans Yield Spread Premiums Paid to Mortgage Brokers Friday, August 27, 2010

In a story reported by the LA Times last week, the Federal Reserve, as expected, banned the practice of lenders paying brokers yield spread premiums in exchange for getting borrowers...
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Bank of America To Roll Out Cooperative Short Sale Program Wednesday, August 25, 2010

An unnamed source at Bank of America has verified the buzz throughout the short sale community. He says it is true. Bank of America is rolling out a new program...
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California First Mortgages to be Exempt from Deficiency Judgments After a Short Sale Monday, August 23, 2010

A quiet little bill with huge implications for short sale sellers in California, Senate Bill 931, passed unopposed last week and is headed for the Governor's desk. I guess media...
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Volume of Short Sales Triple Since 2008 Friday, August 20, 2010

The Los Angeles Times chased down a report released last week by Core Logic that projects short sales will mushroom in 2010. It says short sales have tripled in the...
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Are Cheap Condos Worth Buying? Tuesday, August 17, 2010

CNN scoured the Trulia website last week to find a bunch of cheap condos offered for sale for less than the cost of a new Prius. As a side note,...
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It's Hard to Sell a Unique Home Monday, August 16, 2010

It's not difficult to sell a unique home if it sits in a neighborhood of unique homes, each with its own set of unique qualities. But it's almost impossible to sell...
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Fannie Mae Offers Relief to Dead or Dying Homeowners Friday, August 13, 2010

I don't mean to sound so gruesome about this, but the facts are what they are. If your military spouse was injured or killed in action, Fannie Mae will step...
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Mortgage Rates at 50-Year Low Wednesday, August 11, 2010

Who is getting a mortgage these days? Just about anybody with a higher interest rate who can qualify. That's not necessarily home buyers, though. The bulk of the mortgage business...
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