Gov't increases pressure on mortgage industry

Treasury 怒了 -- mortgage industry could be sanctioned for poor results in mortgage plan.

@@Mortgage finance company Freddie Mac has hired an outside company Titanium Solutions Inc. to send real estate agents around the country to knock on borrowers' doors and help them complete the paperwork.@@

Homeowners who may be eligible for assistance can call 888-995-HOPE, or visit the Web site http://www.makinghomeaffordable.gov

11月30号: http://www.makinghomeaffordable.gov/pr_11302009.html

In the mean time, rate dipped to record low!! I emailed many of my clients and neighbors and friends that the good rate -- 4.875 for high balance and no cost. This rate is really good. But I got a feel that the rate will dip again. So we will see.

Del Norte High School (DNHS) 介绍Del Norte高中

Del Norte高中有将近800个学生（大概有525个一年级学生和275个2年级学生）。现在的enrollment是开放的，不管你是不是住在这附近都可以来上。 将来会有2200个学生。 校园有212，000 sf, 48个教室。 整个校园占地是63英亩。

Del Norte高中目前有25个俱乐部。有艺术，政治，文化，科学，人文。有自己的棒球队和体操队。 排球队也在组成中。 体育活动有水球，长跑，高尔夫球，网球，排球。还有游泳，潜水，和田径。


Written by A.Z. (my 8 yrs old)

Del Norte High School (DNHS) was opened in August 2009, with the enrollment of approximately 800 students. Right now, it only has freshman and sophomore classes. So you see this is a brand new school, that’s why there is no School Accountability Report Card (SARC) available yet. I believe the 1st report will be available in August 2010.

Unlike Westview High School, DNHS adopts trimester schedule (3x5 system), which is quite unique in Poway School District (Westview is 4x4; RBHS is 2x6 system)). For more information about trimester, please click the following link:
http://www.powayusd.com/pusddnhs/about/trimester.shtml

I personally believe DNHS will be one the best high schools in Poway or even in whole San Diego. It has the best student sources (more than 30% Asian students and about 55% White students with decent home income); it has the best teachers and administrators (its principal is Greg Mizel, who is the former principal of Mesa Verde Middle School.); and it also has the best facility (the construction of this brand new school costs more than $100 million).

For me, DNHS is the main reason that my family will move to 4S Ranch in early May.

For more information about DNHS, please check the following links:
http://en.wikipedia.org/wiki/Del_Norte_High_School_(San_Diego,_California)
http://www.powayusd.com/pusddnhs/

Complimentary information written by Judy J. my close friend.

Fannie Mae announces a sale lease-back program for a deed-in-lieu

On November 5, 2009, Fannie Mae launched what they characterize as a Deed-For-Lease in lieu of foreclosure program. The program allows a financially-distressed homeowner who does not qualify for a loan modification to stay in his home as a tenant by exchanging title to his property for a one-year lease agreement. The program does not include a repurchase option.

Rent under the program is capped at 31% of the homeowner’s pre-tax income, with lease agreements for periods up to 12 months with a renewal or extension on a month-to-month basis. If the home is sold during the term of the lease, the buyer takes title subject to (“inherits”) the lease.

At last the government, through its mortgage arm Fannie Mae, is getting realistic with negative equity homeowners in California, most of who do not qualify for modification as they are at loan-to-values (LTVs) in excess of 125%. Fannie Mae could not previously admit to the obvious: take a deed-in-lieu of foreclosure, and if it could not instantly be resold as a real estate owned (REO) property, lease back the property to the homeowner who could/would not pay on the loan. However, the government agency must still foreclose on homeowners who have second liens on their homes in order to convey title to the property on resale as an REO.

Mortgage Delinquencies Are Still Rising

Mortgage delinquencies rose for the 11th straight month, reaching 6.25 percent in the third quarter from 3.96 percent a year earlier and 5.81 percent in the second quarter, according to the credit management company TransUnion.

"Until the housing market can consistently demonstrate several months of home value appreciation and the unemployment rate improves, mortgage delinquency will likely continue to rise," said F.J. Guarrera, vice president of TransUnion's financial services division.

Builders are no exceptional...

明年的房市往哪走

会double dip的说法是：工作不好找而且失业率继续上升。MORTGAGE DEFAULT 的房子会越来越多

会稳定的人说：圣地亚哥有钱人多的是。 通货膨胀。 钱不值钱了。 大家会更加进房市。

另外，现在银行不急于FORECLOSURE房子了，两房允许欠款的房主，变为租客，总统还让两房外包一些agent上山下乡去敲门帮助填写天书一样的loan modification的申请。

所以我觉得全看各行各业的工作到底怎么样，大家都有工作，好区的房市可能也就这样了。

Being honest is hard

Tax credit extension passed

意料之中。延期到明年的4月底。

更好的是existing homeowners也有份了。不过要住满5年。

更妙的是这回基本上大家都可以qualify了。 工资的标准涨了很多。 从7万5到12万5了！

The tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to receive a tax credit of up to $8,000, while existing homeowners will receive a reduced credit of up to $6,500. Existing homeowners will be eligible for the $6,500 if they have lived in their current residences for at least five years. The bill also will increase the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers, to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000.

看房日记

Very detailed information and my comments on the houses I looked with my clients.

Sorry but this blog opened to my clients only.

Please email me if you want to be added to the viewers' list.