Making Home Affordable Program – Government Omitted Information
The Government’s homeowner’s bail-out program “Making Home Affordable” reported yesterday that through October, 650,994 delinquent borrowers have received help. This represents 20 percent of those potentially eligible, according to the Treasury Department. That is up from 487,081 through September. Most are in the states hardest hit by the housing crisis. About 134,609 of those who have had loans modified under the program — typically through an interest-rate reduction — are in California and 82,614 are in Florida.
Interestingly, the government omitted information on how many of the 650,000 borrowers in this program are keeping up with the payments on their trial modifications. Is this just an innocent omission, or something more?
To add a balanced view to the government report, look at the LPS report below: Read more 
San Carlos SDSU Area 3Br./3Ba Rental
Large, modern, Spanish Style Townhome.
Eat-in kitchen + dining area & good size living room w/fireplace. Huge
Master bedroom w/vaulted ceiling! Cent.A/C, Front enclosed patio &
direct access two car garage. Community pool/spa! Just next to the 5,700Ac.
$1,900 Mo
Mission Trails Regional Park off Mission
Gorge Road. One year lease. Emp./Credit check required.
Mariposa townhomesBob Schwartz, real estate broker.
CA Lic#00706331 619-300-8819. Web: http://www.brokerforyou.com
New Government Deed For Lease Program
When will they learn? The government should quit tampering with the real estate market. Foreclosure moratoriums, home buyer credits, mortgage renegotiation … all have little benefit and huge taxpayer costs.
I said long ago that the government should just cut chase and let deadbeat homeowners live in their homes mortgage-free! Well, with the latest government ‘deed for lease’ program, the government has for all intents, fulfilled my prediction.
San Diego monthly events
Government Home Buyers Credit Extended & Expanded
Home buyers credit
The home buyer tax credit of $8,000 has not only been extended, but, it has also been expanded.
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 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. Read more
Home Foreclosures To Bounce Higher In 2010
new home sales
In a recent report from the John Burns Real Estate Consulting (Two hundred and sixty-two home building industry executives from public and private companies responding) on new home purchases from January through mid-October 2009 showed:
A. 59% of sales have been dependent upon government financing programs such as FHA & VA. These government programs allow home purchases to be financed at 96.5%-100% loan to value. Read more
Record Housing Discrimination Settlement in LA
The U.S. Department of Justice has obtained a record $2.725 million settlement against Los Angeles apartment owners for alleged rental discrimination. In a lawsuit brought in August 2006, the Justice Department claimed that the defendants engaged in discriminatory practices, such as refusing to rent to African-Americans, Hispanics, and families with children, refusing to rent to non-Koreans in Koreatown buildings, misrepresenting the availability of rental units, and preparing internal reports of tenants’ racial profiles. Read more