CALIFORNIA HOMEBUYER TAX CREDIT MONIES MAY RUN OUT FAST
California homebuyer tax credit
The $100 million allocated for California’s first-time homebuyer tax credits may be depleted in about 10 to 20 days or sooner, according to the California Association of Realtors (C.A.R.’) economics team. California’s Franchise Tax Board (FTB) plans to begin accepting applications on May 1, 2010 for tax credits up to $10,000 for first-time homebuyers and for homes that have never been previously occupied. However, the total tax credit allocation for all taxpayers is $100 million for first-time homebuyers and $100 million for new homes, both on a first-come, first-served basis. Read more 
Home Loan Giants Fannie & Freddie $126 BILLION Loss
Kenneth Posner, author of “Stalking the Black Swan: Research and Decision-Making in a World of Extreme Volatility,” talks with Bloomberg’s Lori Rothman about Fannie Mae and Freddie Mac. Fannie Mae, the government-backed mortgage company under conservatorship, was toppled by conflict between its mission to foster homeownership and profit demand it faced as a publicly traded company, former regulators said