Increase in Homestead Exemptions

Increase in Homestead Exemptions: Coming into effect on January 1, 2010, the homestead exemption protecting a homeowner’s equity from judgment creditors has been increased by $25,000 across the board to $75,000 for individuals, $100,000 for married couples or...

Housing upturn occurring in Southern CA

Housing upturn occurring in some parts of Southern California, data showThe median sales price in some areas rose last month for the first time since the market crashed in 2007, according to MDA DataQuick. Southern California’s housing market took another small...

Start repairing bad credit rating now

Start repairing bad credit rating nowHomeowners who have lost their homes to foreclosures or through short sales may be able to buy another home in as little as two years by taking immediate steps to rebuild their credit. MAKING SENSE OF THE STORY FOR CONSUMERS...

New Fed rules beginning Oct. 1, 2009

New Fed rules. Beginning Oct. 1, 2009 new rules adopted by the Federal Reserve will go into effect, requiring greater diligence on the part of mortgage lenders and brokers who issue high-cost loans for borrowers with less than favorable credit. The interest rates on...

FHA will tighten credit standards

FHA will tighten credit standards Although the Federal Housing Administration (FHA) has confirmed that as of Sept. 30 it will fall short of its legal requirement to maintain supplementary reserves of 2 percent of the loans it insures, FHA Commissioner David Stevens...