New HARP 2.0 Alert – Full Launch By Lenders Expected on March 17, 2012

New HARP (Home Affordable Refinance Program), also called Obama Government Refinance Program is expected to be fully launched on March 17, 2012. Even though the program was announced in December, 2011 the lenders have been slow in offering this new and enhanced program to California homeowners with underwater mortgages. One of the reasons was that […]

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Mortgage Production Volume Down and Real Estate Sales up in 2012?

The Real Estate sales is expected to inch higher, while mortgage production volume is predicted to go down , according to economists at Fannie Mae. The second half of the year should outpace the first six months in terms of growth, though fiscal policy and political uncertainty in Washington will likely drive consumer and business […]

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San Jose, CA is ranked 1 of the top 5 Cities for Real Estate Recovery in 2012

I recently read an article on Yahoo! Real Estate talking about 5 cities that are ripe for a Real Estate rebound in 2012. The list was compiled by Forbes.com. I wasn’t surprised to see San Jose, CA making the list. Jump in New Home Construction, Better Employment and increase in migration is going to contribute […]

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FHA Extends Waiver of 90 Day Flip Regulation Till End of 2014

* The below post was originally published on Dec 22, 2011. In Dec 2012, FHA issued a notice announcing that the Flip waiver has now been extended till end of 2014. All other information in the post remains valid.** In an effort to continue stabilizing home values, Acting Federal Housing Administration (FHA) Commissioner Carol J. […]

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Shashank Shekhar is Voted “Top 40 Under 40” Most Influential Mortgage Professionals

I am extremely delighted to report that National Mortgage Professionals Magazine has voted me as “Top 40 Under 40” most influential mortgage professionals. In a rigorous process that involves nationwide voting and a review by the magazine judges – only the best in the country are chosen. While selecting me as one of the winners, […]

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It’s Official – FHA Loan Limit of $729,750 is Back! No Such Luck for Fannie/Freddie!

Just few hours back, President Obama signed a bill reinstalling  the FHA Jumbo Limit back for several high cost counties in  California to $729,750 (from the recently reduced $625,500). The bill comes into immediate effect, meaning FHA can start  insuring the $729,750 Loan Amounts right away. The restored loan amount is good till Dec 2013. […]

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New HARP 2.0 Obama Government Refinance – Guidelines Released

Guidelines Released for California New HARP 2 – Obama Government Refinance Get a HARP Rate Quote Now Fannie Mae and Freddie Mac today released the guidelines for the new expanded Home Affordable Refinance Program (HARP), also called Obama Government Refinance program. Here’s 8 things you need to know: The program starts on December 1st, 2011 […]

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HARP Expanded Obama Refinance Program – Big Banks Sign Up

The expanded HARP (Home Affordable Refinance Program), also called Obama’s Refinance Program is moving along. Bank of America, Chase, Wells Fargo and Citigroup all released statements last week in support of HARP 2.0. Get a HARP Rate Quote Now The Federal Housing Finance Agency had earlier announced the framework for the expanded HARP. Some of […]

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San Jose Real Estate Market Report – October 2011

San Jose Real Estate Single Family Market Report Both Median and Average Price went up for San Jose Single Family Market in October 2011 compared to September. But still remained lower compared to last year. However, number of sales was much higher than same month last year. The table below has more statistics: San Jose […]

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Just in – Expanded HARP Refinance program for California Underwater Mortgages

Federal Housing Finance Agency (FHFA) just announced that it is expanding it’s HARP Refinance program for California and rest of the country for borrowers who are underwater on their mortgages. The plan, targeted at borrowers who hold loans backed by Fannie Mae and Freddie Mac, is the latest government effort to deal with a problem […]

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