Real Estate-How's the Market?

by Shan Saigal

BofA Offers Up to $30K to Owners for Short Sales

In an effort to curb foreclosures, Bank of America is offering some of its defaulting home owners relocation assistance of anywhere from $2,500 to as much as $30,000 if they agree to complete a short sale.
Shan Saigal
Broker-Referral Realty Silicon Valley
Direct:  408-505-9302 /Dre#00768704

Thousands of REALTORS(R) Ready for Housing Rally

The Rally to Protect the American Dream will be held May 17 in front of the Washington Monument in Washington, D.C. The rally will take place during the National Association of REALTORS®' Midyear Legislative Meetings & Trade Expo, May 14-19. 

Bernanke: Mortgages Still too Difficult to Get

Even creditworthy borrowers are finding it difficult to get a mortgage nowadays and it’s unlikely banks will ease their standards anytime soon, Federal Reserve Chairman Ben Bernanke told a banking conference in Chicago Thursday.  

BofA Starts Writing Off Borrowers’ Mortgage Debt

More than 200,000 underwater home owners with mortgages through Bank of America may be eligible to have a reduction in the amount they owe on their loan, which could possibly trim their monthly payments by up to 35 percent.
http://realtormag.realtor.org/daily-news/2012/05/08/bofa-starts-writing-borrowers-mortgage-debt
Shan Saigal
Broker-Referral Realty Silicon Valley
Direct:  408-505-9302 /Dre#00768704

Lawmakers Accuse FHFA of Blocking Mortgage Reduction Plan

Two Democratic lawmakers are claiming that the Federal Housing Finance Agency failed to roll out a nationwide mortgage reduction principal plan for underwater home owners even though a pilot program the agency did two years ago showed that it could significantly trim taxpayers’ costs.  
Posterous theme by Cory Watilo