Americans Say Owning Is a Good Financial Decision

Americans hold a more positive view of the housing market, while an increasing share of renters plan to own, according to the 2013 National Housing Pulse Survey from the National Association of Realtors (NAR).   Eight in Ten Americans Say Owning Is a Good Financial Decision.

Delinquency Rate Sees Abrupt Increase...!!!

After five months of declines, the national mortgage delinquency rate reversed course in June, according to data from Lender Processing Services (LPS).

From May to June, the delinquency rate shot up by 9.9 percent, ending at 6.7 percent, LPS reported. The abrupt increase  in delinquency rate represents the highest level since February of this year. However, prior to February, the delinquency rate is still at its lowest point in over four years. 

Fix & Flip... ALL CASH...!!!

Pacific Rim Investors looking for SFR's in the Inland Empire; No Hold just Fix & Flip... ALL CASH...!!! 

Call me... 909.376.8750

"A Complete Abrogation of Private Property Rights”

Private Property Rights Threaten by Eminent Domain Abuse

Representative John Campbell (R-California) reintroduced a bill last week to limit potential harm to taxpayers and retirees if city and county governments were to use the power of eminent domain to take over underwater mortgages. 

Known as the The Defending American Taxpayers from Abusive Government Takings Act, the bill targets a controversial proposal to have local governments seize underwater mortgages through eminent domain, and then have the mortgages refinanced under new terms reflecting the current value of the home. Last year, Mortgage Resolution Partners (MRP) proposed the idea to officials of San Bernardino County—who rejected the proposal—and has since taken the concept to various cities.

BofA Bribing Employees to Commit Fraud...!!!

 Bank of America Corp. (BAC), the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.

Mortgage workers falsified records and were told to delay U.S. loan-assistance applications by requesting paperwork that the Charlotte, North Carolina-based bank had already received, according to statements from ex-employees filed last week in federal court in Boston. The lender improperly disqualified applicants to the Home Affordable Modification Program, or HAMP, according to a May 23 statement from Simone Gordon, a loss-mitigation specialist who left the company in 2012.

“Bank of America’s practice is to string homeowners along with no apparent intention of providing the permanent loan modifications it promises,” said Erika Brown, one of the former employees. The Whistle-blowers  damning evidence would spur a series of criminal investigations of BofA executives, if we still had a rule of law in this country for Wall Street banks... Don't hold your breath...!!!

The Rise of Young Luxury Home Buyers

Young Luxury Home Buyers  A new generation is skipping the "starter home" and betting heavily on high-end real estate. Lauren Schuker Blum reports on Lunch Break. Photo: Alexia Fodere for The Wall Street Journal

FHA on 'Stable Footing'... Who's Kidding Who...!?!?

 The Senate Banking Committee reached a milestone in its efforts to put the Federal Housing Administration on stable footing with the release of a discussion draft of a new bill Monday.

Proposed Act to Save Housing Finance

With criticism for the Obama administration and the shortcomings of the Dodd Frank Act, the “House of Representatives Financial Services Committee” announced Thursday an Act to save housing  to fix housing finance and end the bailout for good.

The Floating City...!!!

Venice is the ancient Floating City of Europe; a city of islands, lagoons, canals & bridges.

A photographic study of Italia; (Greek) meaning "land of young cattle"; these photographs depict an artist view of Italy from the incredible city of Venice; a city of islands, lagoons, canals and bridges; to Verona, Florence, Rome, Lecce and the beautiful west coast city of Sorrento. All of these photos have been enhanced with various techniques of color saturation to express my artistic impressionism. I hope you enjoy them.

There Are Still 7.3 Million Loans That Are Underwater...!!!

 If two tweaks were made to the Home Affordable Refinance Program (HARP), refinancing activity could increase “substantially,” according to a report from the Federal Reserve Bank of New York relaxing 

HARP Rules will Help More Borrowers...!!!