As of Aug. 1, 2010 home mortgage servicers participating in the federal government’s Home Affordable Modification Program are required to implement the Home Affordable Unemployment Program or “UP“. This new program provides eligible unemployed homeowners a temporary period during which their regular monthly mortgage payment is reduced or suspended, which is called “forbearance”.
To qualify for [...]

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John Shapiro of Private Mortgage Advisors (affiliate of Wells Fargo Mortgage) forecasts that ”I think we will see flat rates at these levels until the fall.  At that point I would expect a seasonal increase but not a dramatic one.  Rates won’t dramatically rise until unemployment improves markedly.” 
John also says that, ”based on continuing economic bad news the [...]

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Mortgage interest trends suggest that now might be a good time to be a home buyer in terms of affordability and risk:
Low Interest Rates – Average rate on a 30 year fixed conforming nationwide ended this week at 4.57%, which is another all time low for the fourth consecutive week!  Refinance activity has picked up [...]

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The ready availability of jumbo mortgage financing has constrained the market for more expensive homes in Saratoga, Los Gatos, Monte Sereno and other parts of Silicon Valley.  The problem has be sluggishness in the secondary wholesale market for loans above $729,750.
Now Private Mortgage Advisors (a joint venture of Wells Fargo and Alain Pinel Realtors) just announced very special, [...]

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Despite the federal tax credit ending last week, California has extended the credit for first time homebuyers and new construction home buyers.  This swill be good for real estate sales in Santa Clara County, but probably will not effect sales in Saratoga, Los Gatos, Monte Sereno and surrounding areas.
Today I spoke with Dan at the [...]

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