Many borrowers are not getting help under president’s modification or refinancing plan. Officials don’t expect problems to be fixed until the fall.

NEW YORK (CNNMoney.com) — Mr. President, help us get one of your mortgage workouts now.That’s what many borrowers are saying nearly five months after President Obama unveiled his housing rescue plan. The program is beset with problems, say borrowers, housing counselors and even the president himself.

Read More >>> Obama mortgage plan needs work

The Arizona Foreclosure Prevention Task Force has been hard at work producing a Homeowner Guide to preventing foreclosure and the Arizona Foreclosure hotline has been busy with calls from homeowners trying to modify their home loans.

Technorati Tags: modification, Mortgage, obama, refinancing

@ABC15 News reports Valley Realtors report spring market upturn – Bidding Wars reported.

Real Estate in Phoenix appears to be moving if the price is right.

Complete Report

Technorati Tags: Arizona, Phoenix, Phoenix Arizona, Phoenix Real Estate, Real Estate, Real Estate News

Tempe, Arizona – Tempe’s longstanding interest in championing affordable housing for all residents took a major step forward recently, when the City Council approved the establishment of a Housing Trust Fund and the Housing Trust Fund Advisory Board.

Approved Jan. 22 by the City Council, the fund will be used to foster affordable housing in Tempe.  The money can be used for new construction, emergency repairs, rental assistance, adaptive re-use, weatherization work to reduce utilities costs, and more.

The idea for the fund and the advisory board grew under the leadership of the City Council’s Housing Committee, chaired currently by Council Member Corey Woods and previously chaired by Vice Mayor Shana Ellis.  During Ellis’ tenure as committee chair, the city established an Affordable Housing Strategy Plan; the new fund and advisory board were among the recommendations of that plan.

The application deadline to request appointment to a seat on the advisory board has been extended to March 20.   Applications are available at www.tempe.gov/clerk – click on “Boards/Commissions.”

“The formation of the Housing Trust Fund is yet another strong indication that the City of Tempe recognizes the need to provide quality affordable housing for all of our residents,” Woods said.  “Tempe has always approached challenges with a proactive and innovative focus – this is the first step in a series of new strategies aimed at maintaining the diversity that has always defined our community.”

The city’s new Housing Trust Fund Advisory Board will be a seven-member panel appointed by Mayor Hugh Hallman and approved by the City Council. Board members will review applications for funding, which could come from individuals or non-profit organizations involved in affordable housing in Tempe.  Projects could receive grants or deferred-interest loans repayable when homes are re-sold.

The trust fund initially will receive money from sources such as:
payments from private developers doing business in the city as part of
development agreements; donations to the fund; possible matching funds from federal affordable housing funds; and Housing Trust Fund loan repayments.

Three Housing Trust Fund Advisory Board members must be qualified in one or more related areas, such as real estate lending, housing development, construction and rental housing.  The remaining board members need only have experience or expertise in housing-related issues.  Tempe residency is not a requirement.

Technorati Tags: Affordable Housing, Arizona, housing, Housing Trust Fund, Tempe

Reports of mortgage foreclosure scams are on the rise. Knowing what to watch for and where to turn for help is vital for families who are struggling to remain in their homes. March 1 to 9 is National Consumer Protection Week, and the Federal Reserve Board has compiled some tips to help protect consumers from becoming victims of foreclosure avoidance scams. It’s important for consumers to know that housing counselors and other resources are available at no or low cost to assist homeowners who have fallen behind on their mortgage payments.

Avoiding foreclosure cannot be guaranteed–regardless of the circumstances. Working with a legitimate counselor can increase the chances of keeping a home, but consumers should be wary of people who tell them it’s a sure thing. Details of the transaction, along with any promises, should be provided up front and in writing.
Arizona Foreclosure Prevention Hotline

Solicitors of foreclosure schemes reach out to potential victims by a variety of means using the Internet, the telephone, and direct mailings. Some solicitors go door-to-door or approach homeowners at events related to home preservation. The information the Federal Reserve is providing, which is part of its “5 Tips” series, is intended to give consumers the basic information they need to recognize and avoid foreclosure avoidance scams. Consumers are urged to check the credentials of counselors and to avoid working with someone who collects a fee before providing any services or accepts payment only by cashier’s check or wire transfer. Consumers should not pay for a service without knowing exactly what they are buying.

“Saving a home from foreclosure requires fast and informed action but the solution doesn’t have to be costly,” said Federal Reserve Governor Elizabeth A Duke. “It shouldn’t hurt to get help.”

The tips to follow will help consumers select a reputable counselor and avoid fraudulent foreclosure scams.

Foreclosure Prevention

Technorati Tags: Foreclosure, Foreclosure Scams, Real Estate, Scams

Phoenix Real Estate

If you are a real estate agent and want to list your real estate business in the East Valley Living Business Directory then visit here: 

Business Directory

Technorati Tags: business directory, Phoenix Real Estate

There is a lot of questionable information floating around with regard to Mortgage modification.  Most of this information is being provided by people and companies who hope to profit from the current mortgage loan crisis and want to charge people large fees to negotiate modification of their mortgages.

Talk to your lender and ask for the loss mitigation department.

Look in your local area for Foreclosure Prevention Seminars or Foreclosure Prevention Workshops.

You want to look at events that are involved with the HOPE program and Hope for Homeowners and similar programs.

Community Information & Referral http://www.cir.org/ runs a state-wide foreclosure prevention hotline in Arizona under the sponsorship of the Arizona Department of Housing. Callers are put in touch with a HUD Certified Foreclosure Counselor.

In Arizona, the number to call is 877-448-1211.  Outside of Arizona call 888-995-HOPE.

http://www.arizonaforeclosuretaskforce.com/ provides news about foreclosure prevention efforts in the state of Arizona. This is the website of former Arizona Governor Janet Napolitano’s Arizona Foreclosure Prevention Task Force, and is sponsored and supported by two of my companies.

Thursday night, there was a foreclosure prevention workshop in Glendale Arizona and hundreds of people were helped. I heard one of the 20+ lenders who had a team there say that she had helped over 90 people begin the process of modifying their loans that night.

Loan Modification – Frequently Asked Questions from the Department of Housing and Urban Development – HUD

A Loan Modification is a permanent change in one or more of the terms of a mortgagor’s loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.

Loan Modification Frequently Asked Questions – HUD

Bill Austin

Technorati Tags: Foreclosure, Foreclosure Prevention, Foreclosures, HOPE, Mortgage Loan Modification, Mortgage Modification, Mortgages, Real Estate

Imagine this: One MILLION REALTORS (r) decide to have a NATIONAL NO MEDIA ADVERTISING MONTH.

We simply withhold our money for ONE MONTH. No newspaper classifieds; no radio ads; no television. Pause all online PPC and banner ads on any site featuring one-sided anti-industry content. Tell the media – with your dollars – that you’re tired of only the “bad” news elements of the housing market.

Search Phoenix Real Estate Listings
Phoenix Real Estate

Technorati Tags: Phoenix Real Estate, Real Estate

Technorati Tags: Homeowners Association, Trails III & IV

While looking at a house, a buyer asked the real estate agent which direction was north because, he explained, he didn’t want the sun waking him up every morning.

She asked, “Does the sun rise in the north?”

When another person jumped in and explained that the sun rises in the east, she shook her head and said,

“Oh, I don’t keep up with that stuff.”

And then she voted.

Find more Funny jokes humor and comedy at Funny Jokes or subscribe to the  funny jokes mailing list.

For Real Estate News visit our Real Estate category

Technorati Tags: comedy, funny, Funny Jokes, humor, Real Estate Jokes, Voting Jokes

CBI Group, the new face of Keystone Real Estate Investments, has announced the launch of a fund that will allow Canadian investors to profit from the downturn of the Phoenix Arizona housing market. The Arizona Acquisition Fund will raise up to 12.5 million (Cdn) to purchase approximately 175 single-family homes in the Phoenix area over the next 12 months.

The Arizona Acquisition Fund is an opportunity for Canadian investors to enhance and diversify their portfolios without the traditional hassles associated with foreign real estate investments. Institutional financing, tenant prospecting, property management and sales processes will handled by CBI Group and their extensive network of Phoenix Arizona Real Estate industry experts residing in Phoenix area.

“Most Canadians are starting to realize that we have ideal market conditions to invest in the U.S. thanks to a strong Canadian dollar and extremely low home prices due to the sub prime mortgage crisis. The Phoenix market remains an area of interest for baby boomers, so we expect that it will produce the greatest profit when it recovers over the next five years.” explains Travis Cadman, co-founder of CBI Group.

For a minimum RRSP eligible investment of $10,000 investors in the Arizona Acquisition Fund will receive a 6% annual bond interest that will be disbursed as cash flow permits as well as a share in 60% of net profits when the homes are sold.

Technorati Profile

Technorati Tags: Arizona Real Estate, baby boomers, Canada, Canadian Investors, Phoenix Arizona, Phoenix Arizona Real Estate, Phoenix Real Estate