This information updates from time to time. The latest info comes from a lender friend of mine. If you’ve gone through a short sale, foreclosure, bankruptcy, or deed-in-lieu of foreclosure, here is how long you’ll have to wait before you can buy a home again. I bet not too many folks out there are aware [...]

I’m tired of NAR and the rest complaining that lending standards are tight. And that a housing recovery is being held back by unnecessarily-tight lending standards. Phooey. Thanks to the FHA, people with mediocre credit and hardly an cash can still borrow obscene amounts of money. In the Bay Area for example, to purchase a [...]

Below is the full fact sheet of the Obama housing plan from whitehouse.gov. In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, [...]

Dear Edward DeMarco, Your position regarding principal reduction for underwater mortgages illustrates just how unfit you are to be running the FHFA. You argue against principal reductions, because it might cost “marginally” more than principal forbearance, yet you completely ignore all of the data suggesting that negative equity leads to strategic defaults and a potential [...]

Selling foreclosures in bulk to institutions is an example of crony capitalism at it’s worst. Keep in mind that our problem isn’t that selling homes locally and individually doesn’t work, it’s that Fannie Mae, Freddie Mac, the FHA, and TBTF banks simply haven’t been doing it. Diana Olick reports: The Obama administration, in conjunction with federal [...]