The Federal Housing Finance Agency (FHFA) granted the Home Affordable Refinance Program (HARP) a two-year extension, the agency announced Thursday.
Under the direction of FHFA, Fannie Mae and Freddie Mac’s regulator, the program will live on until December 31, 2015. Without the extension, HARP would have expired at the end of this year.
“More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk,” said FHFA Acting Director Edward J. DeMarco. “We are extending the program so more underwater borrowers can benefit from lower interest rate.”
Over the years, the program has helped hundreds of thousands of deeply underwater borrowers find relief. According to FHFA’s latest report, 252,443 borrowers
Come and show your support of Seattle Childrens Hospital by donating a box of Crayons!
For the eight year, The Cascade Team Real Estate is kicking off Project Crayon Drive. For the young who find themselves at Children’s Hospital of Seattle along with their families, sometimes the simple things like a coloring book and a few crayons can be as soothing as the trained staff and smiling doctors. Yet, something as simple as crayons often goes overlooked. Each year, Children’s Hospital goes through over 240,000 crayons, yet each child only gets a couple to use.
And that’s where The Cascade Team — in partnership with Children’s Hospital Guild Association and several area merchants — comes in. Throughout the
The Center for Responsible Lending and the Consumers Union, two consumer advocacy organizations, are calling on national lawmakers to create a Homeowner Bill of Rights in order to prevent “unnecessary foreclosures.”
The two groups pointed out in a recent policy brief that most states continue to experience serious delinquencies at a rate of between 1 in 10 and 1 in 20 homeowners.
Additionally, “[t]he foreclosure pipeline remains significant and continues to threaten a substantial number of homeowners with the loss of their homes,” the groups said.
The Consumer Financial Protection Bureau (CFPB) has developed rules requiring loss mitigation outreach, restricting dual tracking, and specifying appeal procedures for when a homeowner’s loss
An appraisal is a thought process leading to an opinion of value. This opinion or estimate is arrived at through a formal process that typically uses the three ''common approaches to value''. They are the Cost Approach - which is what it would cost to replace the improvements, less physical deterioration and other factors, plus the land value. There is the Sales Comparison Approach - which involves making a comparison to other similar, nearby properties which have recently sold. The Sales Comparison Approach is normally the most accurate and best indicator of value for a residential property. The third approach is the Income Approach, which is of most importance in appraising income producing properties - it involves
Imagine yourself as a homebuyer. You are excited and motivated to begin looking at homes in your local market, so like most home buyers you hop online or head down to a local real estate office to begin your search. In either case you will probably do something very predictable. You, as a typical homebuyer, will pick two price points as in - We would like to look for homes between $200,000 and $225,000 dollars. Interestingly, even if you have been told by your lender that you are qualified to purchase a home up to $229,400 dollars, inevitably you will just round down to $225,000 or round up to $230,000. Because of this savvy sellers often use price points as a way to gain maximum exposure for their home. How? By slightly adjusting their listing price to a