Articles in the San Diego business Category
The government’s latest attempt to assist the nation’s struggling financial system is their bail out of Citigroup, one of the world’s largest banks. So what’s the price tag on this newest bail out? To start $306 billion in loan guarantees as well as an added …
If you haven’t heard about it… we are not surprised! It took a while to dig deep enough to find the details. This past July California signed into law that tenants living in homes that are foreclosed upon have new rights that must be adhered …
In the 3rd quarter of 2008 over 80,000 homes went into foreclosure – that’s a tragedy times 80,000 families. Governor Schwarzenegger has presented a new proposal to put a 90 day freeze on foreclosures; it is his attempt to encourage lenders to make aggressive loan …
Last month the “Emergency Economic Stabilization Act of 2008” was signed into law - a barely publicized “sweetner” to the Bill was an unlimited tax credit for installing some solar energy systems.
Solar Water Heating systems are approved for 30% of the cost of the system or …
The U.S. District Court in San Diego has been chosen to hear many of the high-profile predatory-lending lawsuits that have been filed against Countrywide Financial Corporation. With Countrywide being based out of California, the federal judicial panel believed that it made the most sense to …
If you often travel on I-15 you couldn’t help but notice the extensive construction being done to the freeway. The 20 mile long project continues up and down I-15 between State Route (SR) 163 and SR 78. Once completed it will be a state-of-the-art …
Just last week the Housing and Economic Recovery Act of 2008 was signed into law. Part of this new law is a temporary tax credit for first-time home buyers. The credit will apply to home purchases settled on or after April 9th, 2008 through July …
Recently, the “Housing and Economic Recovery Act of 2008” placed a hold on seller funded gift programs starting October 1, 2008 to September 30, 2009. The basis for putting a stop to seller gifts is due to the often higher default rate found with borrowers …
In just a few days the Nation’s 4th largest bank will put an end to their wholesale lending division. Traditionally the wholesale division of a bank offers loans to mortgage brokers at a lower cost than their retail branches offer to the general public. The …
New lending rules were issued this week by the Federal Reserve, most of which will not be taking effect until October 1st, 2009 and some as late as April 1st, 2010.
Not only will banks have to abide the new rules but all lenders will be …
Interesting read on Inman News website regarding the increase of FHA loans on the West Coast. It comes as no surprise that this increase began during the month of March 2008 when HUD released their new loan limit programs. The statistics were obtained from California, …
A Mello-Roos Community Facilities District (CFD) is formed. Mello-Roos is a method of financing government entities (cities, counties, school districts and other special districts) to fund the cost of public improvements. Before Government entities can form a CFD, they must either obtain permission from area …
In San Diego we have all come to the reality that a large majority of our market is “distressed” – in the status of Short Sale, Notice of Default or Foreclosure. It is clear from the sales stats that the main areas being affected by …
A recent article online at RISMedia provided some very valuable information regarding recent guideline changes for Fannie Mae loans… We have posted the full article below for your review. The fourth change will come as “good” news to those considering purchasing a home in San …
This Saturday May 10th, marks the First Annual San Diego Home Expo 2008, being held by San Diego Association of Realtors and San Diego County’s Building Industry Association. The San Diego Home Expo’s goal is to inform the consumer on important things they should know …
