John Balladares's (jballadares) Blog

In Caleeefornia Governor Schwarzenegger signed the Homebuyer Tax Credit into law. AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. Be...

The official announcement by the Federal Government is today, but the details came out yesterday, about funding & requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed. Banks and other lenders would have to reduce the payments to no mo...

Lately there has been some talk in the investor community about using covered bonds to supplement or replace mortgage-backed securities, therefore helping the secondary market for mortgages, which in turn would help originators. What is a "covered bond"? In this case, covered bonds are debt secur...

Many analysts feel that the pace of short sales is likely to increase, especially given market conditions and the opinion that short sales are an alternative to foreclosure that can benefit the borrower and the lender. The lender sees potentially lower losses on the loan, and the borrower avoids ...

In response to the well publicized difficulties consumers have experienced in the mortgage market in recent years, Congress, the Federal Reserve Board, Fannie Mae, and Freddie Mac recently implemented new legislation and regulations with the intention of helping and protecting consumers. HVCC - T...

November 3, 2009 - After two weeks of delay, the Senate last night cleared the way to pass a seven month extension and expansion of the tax creditfor homebuyers. By an 85 to 2 roll call vote, the Senate voted to cut off debate on a package of measures that includes the homebuyer credit, making it...

  DEFINITIONS: Foreclosure An owners right to their property is terminated, usually by default. Property is purchased back by bank or   public auction (sheriffs sale). Proceeds of public auction applied to   mortgage debt. Most states will zero out deficiency balance.   Deed in Lieu An owner avo...

  Pre-Approval vs Pre-Qualification A pre-qualification is an opinion rendered by a loan officer.  It typically comes after a loan officer meets with the customer, gathers information, runs the customer’s credit, analyzes income and asset information and formulates an educated opinion of the cust...