Redding

After April 5, 2010, All FHA loans will have the initial Mortgage Insurance increased from 1.75% to 2.25% and the monthly premium to .75 basis points of the loan amount – regardless of the loan-to-value ratio. You must have your contract accepted and your loan locked by April 4th to fall under the older guidelines. If » Read more  

The Federal Housing Administration (FHA) today outlined future changes that will be coming to the FHA home loan program. Rising defaults on FHA loans have led to the FHA’s cash reserves falling below federally mandated levels.  FHA officials hope that policy changes will ensure borrowers have a stronger equity position and are less likely to » Read more  

Who Qualifies for the Extended Credit? First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010. Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight. » Read more  

There are currently 1427 single family homes listed for sale in the Shasta MLS.  This number has steadily declined over the last 12 months. The total single family sales in September of 2009 were 199 units. Of those, 71 were bank foreclosure properties. The average sale price of bank owned properties was $169,001 in September of 2009. The average » Read more  

The Obama Adminsitration has announced its new Foreclosure Alternatives Program (FAP).  This new program may be advantageous for those borrowers who are unable to retain their home unter the Making Home Affordable Loan Modification Program.  With the  FAP program, the sevicer may consider a short sale or, if that is not successful, a deed-in-lieu of » Read more