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President Opens Doors To Small Business February 2010-Chico Real Estate
President Obama states that Government cannot create jobs, but provide support for entrepreneurs to their open doors for business expansion and job creation.
Buyers & Sellers Seeking Transaction Assistance With Chico Real Estate Contact:
Phone: 530-370-1818 Email: steve@chainrealestate.net
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HAMP Remodels Loan Modification Process, Chico Real Estate
Home Affordable Modification Program – Program Update and Resolution of Active Trial Modifications
Many homeowners are aware of the efforts of borrowers seeking to modify the terms of their mortgages with their lenders. You may also be aware of borrowers and servicers and their respective disappointments with the process.
The Department of the Treasury issued a Supplemental Directive dated the end of January 2010 amending key features of the program. A significant program change is a requirement for full verification of borrower eligibility prior to offering a trial period plan.
The Treasury Department/HUD changes are scheduled to be implemented in June, servicers such as Wells Fargo are suggesting they will apply the changes by March 1, 2010.
The Treasury and HUD review of the results todate are now implimenting much needed "guidance" requiring:
THE NEW DEAL:
Loan Servicers collect three documents prior to granting a trial mortgage modification:
SERVICER'S DISCRETION:
SERVICERS MUST CALCULATE:
Buyers and Sellers Seeking Transaction Assistance With Chico Real Estate Transactions Contact:
Phone 530-370-1818 Email: steve@chainrealestate.net
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California's Unsold Housing Inventory Shrinks To 5 Year Low-Chico Real Estate
Numerous sources have suggested that a so called,"Shadow Inventory" would be "Dumped" on the market creating an increasingly large unsold inventory of homes. As we previously suggested banks would infact "manage" and release these inventories in a measured and orderly fashion. This appears to be happening and is having a stabilizing effect on home prices.

Buyers and Sellers Seeking Transaction Assistance With Chico Real Estate Contact:
Phone: 530-370-1818 Email: steve@chainrealestate.net
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Proposed $5,000 Tax Credits To Spur Small Business Investment & Expansion
President proposes jobs bill creating Federal Tax Credits For Small Business. The Administration hopes to spur business investment and expansion with the Tax Credits.
While the President admitted the job losses of the last 2 years he cited the recent report of 5.7% growth over the last 3 months. He noted this is the fasted growth rate of the last 6 years.
Buyers and Sellers Seeking Transaction Assistance With Chico Real Estate Transactions Contact:
Phone 530-370-1818 Email: steve@chainrealestate.net
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CHICO REAL ESTATE, HAMP Ramps Up, 110,000 Permanent Loan Mods, CHICO HOUSES

New December data demonstrates that there has been a measurable increase in the number of borrowers approved for permanent modifications:
As suggested in earlier posts we expected that the low initial loan modification results would not be allowed to stand. Our expectations have been met with some recent improved performance on the part of lenders. Presidential Administration Representatives:
Representatives are ensuring servicers increase efforts:
The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) reported, January 15, 2010 on the Administration's nationwide campaign to help borrowers in the trial phase of their modified mortgages convert to permanent modifications under the Home Affordable Modification Program (HAMP).
It appears the President's administration is monitoring HAMP with a watchful eye and they are willing to take an “active” part in “assisting” banks and their loan servicers in providing effective loan modification assistance. We believe there will be continued modifications to the loan modification program until real long term results are assured.
Buyers and Sellers Seeking Loan Modification Information On Chico Real Estate Contact:
Phone: 530-370-1818 Email: steve@chainrealestate.net
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