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California New Home and First Time Home Buyer Tax Credit

California New Home and First Time Home Buyer Tax Credit

California’s first time home buyer and new home tax credit for 2010 that passed legislature and signed by Governor Arnold Schwarzenegger last week has raised questions, home buyers spirits and tax payers blood pressure. Low blood pressure is important to me, therefore, I will concentrate on maintaining high spirits for…

Governator Pushing New Homebuyer Tax Credit For Californians

Governator Pushing New Homebuyer Tax Credit For Californians

Well, he’s hitting the road again with some pretty hard hitting talk about making the $10,000 homebuyer tax credit a reality for potentially 20,000 California home buyers. Following is the video posted on the Governor’s website as well as all of the important excerpts regarding the credit from his…

Can you get FHA financing after a short sale in Los Angeles, San Fernando Valley?

Can you get FHA financing after a short sale in Los Angeles, San Fernando Valley?

New FHA guidelines have been announced to prevent short-seller sellers from buying replacement properties with an FHA mortgage. These new FHA loan requirements apply in cases where “a previously owned property was sold for less than what was owed (short sale)” or “there is principal write down of indebtedness…

Home Buyer Tax Credit v2.0 – At A Glance

Home Buyer Tax Credit v2.0 – At A Glance

Ok, so the home buyer tax credit was recently revised and extended through April 30, 2010.  And this time it includes extra provisions to allow repeat home buyers to benefit as well as first-time home buyers.  Let’s breakdown the most important features and illustrate how you can take advantage…

Home Buyer Tax Credit v2.0 At A Glance – Los Angeles, San Fernando Valley

Home Buyer Tax Credit v2.0 At A Glance – Los Angeles, San Fernando Valley

Ok, so the home buyer tax credit was recently revised and extended through April 30, 2010.  And this time it includes extra provisions to allow repeat home buyers to benefit as well as first-time home buyers.  Let’s breakdown the most important features and illustrate how you can take advantage…

FHA loans in San Francisco CA?

FHA loans in San Francisco CA?

YES! You could use an FHA loan to buy a home in San Francisco and many parts of the bay area today. Historically, most of the bay area has simply had home prices too high for FHA to make sense. Today, we have incredibly low rates combined with low…

Good News for Orange County, CA Condo Buyers – FHA Spot Approval Program Extended to December 7, 2009

Good News for Orange County, CA Condo Buyers – FHA Spot Approval Program Extended to December 7, 2009

For First Time Buyers, purchasing a Condo in Orange County is not the easiest thing these days, but for at least a another month, FHA has issued a bit of a reprieve for condo shoppers. Back on June 12, FHA Mortgagee Letter 2009-19 was released, providing guidance for the…

Buying a Condo with an FHA Loan is About to Get More Difficult for California Home Buyers

Buying a Condo with an FHA Loan is About to Get More Difficult for California Home Buyers

Mortgagee Letter 2009-19  was issued on June 12, 2009 and provided guidance for the new approval process for Condo’s. The changes are dramatic. Currently, FHA has a list of Approved Condo’s. If a project is on the approved list then FHA financing is allowed, providing the project meets (or…

FHA Streamline Refinance changes are Coming for Orange County, CA

FHA Streamline Refinance changes are Coming for Orange County, CA

Big changes are coming to the FHA Streamline Refinance program that will affect Orange County, CA home owners ability to take advantage of the program. the changes are set to take effect. According to the newly issued Mortgagee Letter 2009-32, these changes will take affect 60 days from the Letter…

Trabuco Canyon woman convicted of loan fraud

Trabuco Canyon woman convicted of loan fraud

A federal jury today convicted Lila Rizk, 42, of Trabuco Canyon and Kyle Grasso, 38, formerly of Santa Monica of conspiracy, bank fraud and loan fraud charges for their roles in a mortgage fraud scheme that led to more than $40 million in losses at federally insured banks, the…