Dorene Slavitz

The New Mortgage plan will help the agencies finance mortgages for first-time homebuyers and develop rental housing. Housing Agencies have had difficulty raising money because of the housing crisis and credit crunch.

The new program will use mortgage Fannie Mae and Freddie Mac to help correct financing difficulties.. The two companies will package mortgages made by the housing agencies and sell them as bonds to the Treasury Department. While it will not solve all our credit problems,it will provide additional assistance to borrowers.

Fannie and Freddie also will help to provide short-term financing, with backing from the Treasury. State and local finance, who have pressed for federal help for months.Any losses from loan defaults will be entirely covered by fees paid by the state agencies. The agencies assist about 100,000 to 200,000 first-time borrowers a year.

There is no expected costs to the federal government for this program.

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Housing Index shows the pace of home prics declines slowed in July..a sign that the market is near bottom!

The pace of price declines slowed in July for Los Angeles to -14% compared with the same month one year ago according the the S&P/Case -Shiller US National home price index.

These figures support stabilization nationally for Real Estate Values. We still need to remain observant in the coming months to see if the expiration of the first time homebuyers tax credit will effect these figures.

In Los Angeles including Orange County the 20 year index is now at 2003 levels, going back to just before home prices made their most dramatic gains in the housing "bubble"

Making Sense of the News

For first time homebuyers, this remains an ideal time to consider purchasing a home. Interest rates are low as are home prices . Realtors are working hard to extend the first-time homebuyer credits beyond the December deadline.

Housing Index shows the pace of home prics declines slowed in July..a sign that the market is near bottom!

The pace of price declines slowed in July for Los Angeles to -14% compared with the same month one year ago according the the S&P/Case -Shiller US National home price index.

These figures support stabilization nationally for Real Estate Values. We still need to remain observant in the coming months to see if the expiration of the first time homebuyers tax credit will effect these figures.

In Los Angeles including Orange County the 20 year index is now at 2003 levels, going back to just before home prices made their most dramatic gains in the housing "bubble"

Making Sense of the News

For first time homebuyers, this remains an ideal time to consider purchasing a home. Interest rates are low as are home prices . Realtors are working hard to extend the first-time homebuyer credits beyond the December deadline.

Housing Index shows the pace of home prics declines slowed in July..a sign that the market is near bottom!

The pace of price declines slowed in July for Los Angeles to -14% compared with the same month one year ago according the the S&P/Case -Shiller US National home price index.

These figures support stabilization nationally for Real Estate Values. We still need to remain observant in the coming months to see if the expiration of the first time homebuyers tax credit will effect these figures.

In Los Angeles including Orange County the 20 year index is now at 2003 levels, going back to just before home prices made their most dramatic gains in the housing "bubble"

Making Sense of the News

For first time homebuyers, this remains an ideal time to consider purchasing a home. Interest rates are low as are home prices . Realtors are working hard to extend the first-time homebuyer credits beyond the December deadline.