In an effort to reduce the inventory of foreclosures that they have on their books, Fannie Mae has introduced a program called HomePath.  The program offers homes that Fannie Mae was an investor that have gone into foreclosure, deed in lieu of foreclosure, or forfeiture.  If you buy a home through HomePath, in addition to a great buy, there [...]

Unfortunately, you won’t like my answer but don’t shoot the messenger.  According to well-known financial publishing house HSH Associates, “It’s going to be a long time coming.”  Before we can make any assumptions, we have to look at how far we’ve really fallen.  According to the S&P/Case-Shiller Home Price Index, the popular measurement that tracks changes in [...]

In a rare intra-meeting move, the Federal Reserve increased the Discount rate .25% to .75% late yesterday afternoon.  The Discount rate is the rate the Fed charges a bank for an emergency loan.  This move was done to wean the banking system off of government credit and encourages them to borrow from private sources.  The governing [...]

First-Time Home Buyers The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where [...]

Although the President’s “Housing and Affordability Plan” was announced on February 17th, it wasn’t until yesterday that we got the details of what it actually means to homeowners.  We are finally seeing some changes in guidelines, starting today with a major announcement by Fannie Mae.  It was announced that over the next two months, significant [...]