Archive for November, 2009

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Stop Foreclosure-Obama ups pressure on banks to help homeowners

Monday, November 30th, 2009

Loan servicers must detail plans to assist borrowers long term. Laggards could face penalties and sanctions.

Help for Homeowners

By Tami Luhby, CNNMoney.com senior writer
November 30, 2009: 11:23 AM ET

NEW YORK (CNNMoney.com) — Struggling to stem the swelling foreclosure tide, the Obama administration announced new steps Monday to pressure banks to help homeowners long term.

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When will the Temecula housing market recover?

Monday, November 30th, 2009

If you ask ten experts: When will the housing market recover?, you’re likely to get ten different answers. Here’s some staggering information from CNBC:

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Homes more affordable for Temecula First Time Home Buyers

Saturday, November 28th, 2009

More First Time Home Buyers in Temecula are finding affordable homes. The California Association of Realtors released it’s monthly affordability index and First Time Home Buyers in Temecula and other parts of the state have seen an increase in first time home affordability of almost 10%

Homes more affordable for First Time Home Buyers

Quick Facts:
· C.A.R. First-time Buyer Housing Affordability Index stood at 64 percent in the third quarter of 2009 compared with 55 percent (revised) in the third quarter of 2008
· The median price of an entry-level home for first time home buyers in California was $247,150 in the third quarter of 2009
· The estimated monthly payment including taxes and insurance was $1,450 in the third quarter of 2009
· The minimum household income for first time home buyers needed to purchase an entry-level home in California in the third quarter of 2009 was $43,500.

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