National Real Estate Market slows.

California saw the housing market slow down in July and the rest of the country is following.

““The housing market recovery has lost a little steam which is not a surprise with the broader economy taking a bit of a step back recently. The housing market could be a little bumpy the rest of the year,” said Ryan Sweet, senior economist with Moody’s Analytics in West Chester, Pennsylvania.

Read more on National Real Estate Market slows….

Fannie and Freddie going after folks who default

Fannie and Freddy Loans

Fannie and Freddy Loans

Strategic short sale people will be targeted by fannie mae and freddie mac.

These are people who can afford their loans, are upside down but decide to walk away . They are different that folks who are strapped. They have decided that its stupid to pay on a house that is worth half of what they paid for it. Up until now they have not bothered to do a short sale because they figured their credit is so screwed already that why bother.

Read more on Fannie and Freddie going after folks who default…

Government loans getting more expensive

Which is better- FHA loans, Fannie Mae loans or conventional loans?

FHA  raised its monthly and upfront fees this spring, and also made borrowers’ monthly mortgage insurance premium (MIP) effective for the life of most loans. It used to be until you had more equity.  This increased lifetime costs for FHA borrowers.

Read more on Government loans getting more expensive…