Finance and Lending

April 8, 2023

FHA Approves 40 Year Mortgage

The Federal Housing Administration (FHA) 40-year mortgage is a loan program that was introduced by the U.S. government starting in May, 2023 to help homebuyers afford the high cost of homeownership. This loan program offers a 40-year repayment term for eligible borrowers, which can result in lower monthly payments ...

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April 4, 2023

The California Dream for All Shared Appreciation Loan

Shared Appreciation Loan

The California Dream has long been a symbol of the state’s allure, representing the promise of prosperity, opportunity, and a better life for all. It’s a dream that has attracted people from all over the world to California, drawn by its vibrant culture, diverse communities, and booming economy. But in ...

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March 17, 2015

San Diego Land Loans

 Did you know you can get a loan on Vacant Land? Home Street Bank has a great program (as well as construction loans):

· Conventional mortgage financing 

· 20-30% down payment required

· 3/1 ARM – 30 year amortization 

· No prepayment penalties 

· Construction contract not required to ...

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May 4, 2008

HR 5830: The FHA Housing Stabilization & Homeownership Retention Act

On April 17, 2008, Rep. Barney Frank introduced in the House a bill that would enable the FHA to refinance home loans at 90% of current market value with the goal of keeping more home owners in their homes. I will track this bill through the House and Senate as ...

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Jan. 7, 2008

Short Sale and Phantom Tax Debt Relief Overview

Lots of questions have arisen from people since President Bush signed into law the Mortgage Forgiveness Debt Relief Act of 2007, whereby in certain circumstances, a homeowner does not have to pay federal income tax on debt forgiven on a loan secured by a qualified principal residence via a short ...

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Dec. 21, 2007

Bush Signs Mortgage Debt Forgiveness Act

With a stroke of the pen, President Bush signed into law H.R. 3648, The Mortgage Debt Relief Act of 2007, and dramatically changed the lives of homeowners across the country who are facing foreclosure, considering a short sale, negotiating a loan workout, or have done any of these since ...

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Dec. 16, 2007

Mortgage Debt Forgiveness Passed by Senate

UPDATE: President Bush signs HR 3648, The Mortgage Forgiveness Debt Relief Act of 2007.

It took them close to two and half months, but the U.S. Senate finally got around to passing H.R. 3648, The Mortgage Forgiveness Debt Relief Act of 2007. Initially sent to the Senate on ...

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Dec. 7, 2007

Short Sales, Taxes and the IRS


UPDATE: 12/20/2007 - President Bush signs The Mortgage Forgiveness Debt Relief Act of 2007

UPDATE: 12/14/2007 - Senate Passes Mortgage Forgiveness Debt Relief Bill


Given the current state of the San Diego real estate market, it is no surprise that the most frequently asked question we ...

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Nov. 25, 2007

San Diego Foreclosure Bargains - Fact or Fiction?

The most common "I want a killer deal" inquiry I get are from those looking for foreclosure property in San Diego - at 50 cents on the dollar. After all, it is a buyer market, sellers are desperate, and foreclosures almost out number real estate agents right?

Well... not quite. But ...

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Nov. 6, 2007

Citi to California Home Buyers: Just Say No

Times, they are a changin' in the California mortgage business.

Last week we had Bank of America notify 7,000 mortgage brokers that their services will no longer be needed after New Years Eve, only to have Citi take it one step further on Halloween and tell California home buyers ...

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