Archive for August, 2010

July home sales down almost 20% in OC

August 17th, 2010 by Admin
Categories: News
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July was a very slow month for home sales in Orange County. The federal tax credit had been fueling the previous months sales but once the tax credit ended, sales slowed down. Read the rest of the article here.

Tags: home sales, OC, Orange County, past sales

New Fannie Mae Plan

August 2nd, 2010 by Admin
Categories: News
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Fannie Mae intends to file lawsuits against so-called strategic defaulters and force them to wait seven years before obtaining another mortgage backed by the organization. But experts wonder how the firm will determine which home owners defaulted strategically.

Experts also question whether the policy is viable given its departure from White House initiatives to bolster the housing market.

The policy is intended to force borrowers to pursue short sales or surrender the deed, rather than enter foreclosure, says Fannie Mae.

Tags: deed, fannie mae, foreclosure, strategic defaulters, White House