Real Estate in Attleboro MA
Terry Twombly

Nothing but good news

HAMP, The Administration Score Card, Foreclosures and Mortgage Delinquencies are all doing great, so there’s some good news today in Real Estate. Today in your real estate news and mortgage news we’ve got nothing but good news.  It’s nice for a change don’t you think?  HAMP is doing very well, if you consider reducing principal balances a good thing, which there are plenty of people who do.  They really seem to be on a roll right now modifying their little hearts out right about now.

Then we move to the Administration Score Card, we come across more good real estate and mortgage news.  Yep it looks as though home prices overall are still on the rise and even new homes have improved since the last Administration Score Card was released.  Geez we are on roll here aren’t we?  HAMP is HAMP-ening, and the Score Card is smokin the charts as well.  Can we possibly take any more good news?

Sure we can!  Foreclosures and mortgage delinquencies are down.  Way down.  Like to the tune of 30% since last year!  Things just really seem to be looking up in the world of real estate and mortgage news.  In fact it’s looking up so much that we’re just not sure what to do with ourselves over here at the National Real Estate Post.  Well hopefully we’ll figure something out!

Well you all take all this good news and run with it.  If you’re a salesperson, let your prospects and your past clients know the good news, and if you’re a consumer and you need some help with real estate or a mortgage, check with one of the NREP Featured Professionals on the right side of the site.

Fannie, Freddie

Fannie, Freddie Retain Higher-Priced Mortgage Limits

Daily Real Estate News |                                                                      Monday, November 04, 2013

Mortgage giants Fannie Mae and Freddie Mac will continue to fund higher-priced mortgages at current limits at least through the middle of next year, federal regulators announced.The Federal Housing Finance Agency, which oversees Fannie and Freddie, was planning to lower limits by the end of the year in a move designed to decrease its role in the market and bring more private capital to the mortgage business. But Ed DeMarco, FHFA acting director, says: “We are not making a change there in the immediate term.”

In 2008, government-backed mortgage limits were increased from $417,000 to up to $729,750 in some high-cost areas. In 2011, limits were reduced to $625,500 in high-cost areas, but FHA’s limits remain at $729,750. The limits were scheduled to decrease at the end of this year.

The housing industry has been lobbying against any drop in the loan limits, concerned it could hamper the housing recovery.

The National Association of REALTORS®, along with other housing industry associations, recently wrote to Congress, urging the FHFA to delay reducing the loan limits.

“While high-cost loans make up a low percentage of all loans, it is simply a matter of equity for those living in high-cost markets where many millions of families live,” NAR wrote. “Without higher loan limits in these areas, many hard-working, middle-income families will be denied homeownership just because they happen to reside in an area of high home prices. Lowering loan limits also would … create confusion and uncertainty for potential borrowers and lenders, especially in the months leading up to any reduction. There is already turbulence enough in the regulatory environment for mortgage lending.”

DeMarco said that FHFA would provide at least a six-month warning of any changes to the limits in the future.