FHA is lowering the cost of homeownership – FHA Mortgage Insurance Premium Reduction



FHA has reduced annual mortgage insurance premiums that will take effect January 26, 2015. FHA will temporarily approve cancellation requests for active FHA Case Numbers within 30 days of the effective date.

Contact us to find out how this change can save you money in your purchase or refinance!


EMAIL jaynelle.bell@gmail.com   Direct: 510.206.7144

Stop the Lender’s collections calls and collect Lender’s funds to start over

Only 9% of property owners qualify for loan modifications and most of those owners lose their property to foreclosure.within two years of receiving the modification because loan modifications benefit the bank not the consumer. My short sale approval is 90%, because I work with motivated sellers who want to end the financial nightmare and get back on the road to financial health.

Interested in the detailed benefits of a property shortsale.

Contact me today.

jaynelle realtor

These short sale sellers are homeowners again!

Their short sale was completed in 2009 and they were able to buy a new home in 2011 at a substantially reduced price and better interest rates.

recent sale

One of my latest successful transaction of 2011.

I sold the seller this home in 2006: My clients tried for 12 months to obtain a loan modification. They could not obtain one, So they hired to short sell it. The property have multiple offers in days, but two sets of buyers walked away, an another buyer could not obtain a loan. The sale process was five months. The time delay are due to buyers. I never stop marketing your property until a qualified buyer get your keys !

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

There are both credit and financial benefits for a property short sale

Some Lenders will pay you up to $20,000. Many people, who completed a short sale can qualify for first time homebuyer incentives. My team of qualified, nationally recognized lenders, are standing by to qualify you for your next home, today.

Seriously considering a short sale and not a loan mod, I can solve your problems with a successful short sale.

Completing a short sale will remove the nightmare of collector phone calls at all times of the day and night, unopened registered letters from your lender threatening foreclosure, appraisers showing up at your front door claiming a right to inspect your property, agents driving by and taking pictures in front of the neighbors and most importantly, remove the worried look in the eyes of your spouse and your children.

Short Sale Humor or Horror Video!

quick short sale

Completed entire Short Sale in less than 45 days !

Only 66% of short sales are completed. I have a 90% percent lender acceptance which includes banks that NEVER approve a short sale. My success is due to two factors: great property selling skills and lender short sale process efficiency. Short sales can be completed quickly if the property sells fast and the offer is structured for lender acceptance.

residential income property short sale

Residential Income Properties also qualify for a short sale without recourse.

I sold both the seller’s residential income property and their home. They needed mortgage relief to operate their business. In addition to starting a successful business I expect a call from them to start shopping for a new home later this year.

Foreclosure Activity Back on the Rise | Realtor Magazine


Foreclosure filings—which include default notices, scheduled auctions, and bank repossessions—increased 2 percent in May, rising from a 75-month low in April, according to the latest foreclosure report from RealtyTrac. Still, foreclosure filings are down 28 percent from a year ago.

The May increase was largely attributed to an 11 percent increase in bank repossessions. Foreclosure starts also ticked up 4 percent in May over last month, with 26 states posting increases, according to the report.



Foreclosure Activity Back on the Rise | Realtor Magazine.

DQ Custom Housing Reports Bay Area

La Jolla, CA.–The median price paid for a Bay Area home moved above the half-million-dollar mark for the first time in almost five years, pushed up by pent-up demand, an improving economy, investor activity, low mortgage interest rates and constrained supply, as well as a continued decline in distressed sales, a real estate information service reported.

The median price paid in the nine-county Bay Area rose to $510,000 in April. That was up 17.0 percent from $436,000 in March, and up 30.8 percent from $390,000 in April a year ago, according to San Diego-based DataQuick.

The 17.0 percent month-to-month increase is the highest in DataQuick’s Bay Area statistics, which go back to 1988.

“There’s somewhat of a perfect storm here, statistically speaking. The pent-up demand, the economy, interest rates, investor buying. Everything is in alignment right now, but that won’t always be the case. Also, it’s easier to regain lost ground. A major element to watch for between now and fall is how many homes are put on the market at these higher price points,” said John Walsh, DataQuick president.

The Bay Area’s median sale price first passed the $500,000 threshold in May 2004, when it rose to $501,000. It continued rising and held well above that level for four years, then dropped below $500,000 in June 2008 as home prices tumbled. From its $665,000 peak in June/July 2007 to its $290,000 trough in March 2009, the median plunged 56.4 percent, or $375,000. As of last month most of the Bay Area’s peak-to-trough loss had been regained. The median was up $220,000 from its March 2009 trough, meaning it had made up about 59 percent of its loss.

Much of the median’s ups and downs the last five years can be attributed to shifts in the types of homes sold. When the recession hit, low-cost inland foreclosures dominated, while sales in mid- to high-end markets languished. In recent months the opposite has been the case: Sales of pricier move-up homes have surged and sales of low-cost foreclosures have plummeted.

It appears a little more than half of last month’s 30.8 percent year-over-year increase in the median was price appreciation, while the rest was shifts in market mix.

A total of 7,621 new and resale houses and condos were sold in the nine-county Bay Area in April. That was up 5.2 percent from 7,243 the month before, and down 0.6 percent from 7,667 for April a year ago. Sales have fallen year-over-year for three consecutive months, mainly reflecting the constrained inventory of homes for sale.

Historically, sales have increased an average of 4.2 percent from March to April. Since 1988, when DataQuick’s statistics begin, April sales have varied from 5,636 in 1995 to 14,430 in 2004. Last month’s sales were 15.6 percent below the April average of 9,033.

The number of homes that sold in April for less than $500,000 decreased 25.7 percent year-over-year, while the number sold for more increased 24.9 percent, DataQuick reported.

Last month distressed property sales – the combination of foreclosure resales and “short sales” – made up about 24 percent of the resale market. That was down from about 27 percent in March and 44 percent a year ago.

Foreclosure resales – homes that had been foreclosed on in the prior 12 months – accounted for 8.5 percent of resales in April, down from a revised 10.2 percent in March, and down from 21.9 percent a year ago. Last month was the lowest since 8.2 percent in October 2007. Foreclosure resales peaked at 52.0 percent in February 2009. The monthly average for foreclosure resales over the past 17 years is about 10 percent.

Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 15.0 percent of Bay Area resales last month. That was down from an estimated 16.4 percent in March and down from 22.1 percent a year earlier.

Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 48.1 percent of last month’s purchase lending, up from a revised 43.2 percent in March, and up from 35.8 percent a year ago. Last month’s jumbo share was the highest since August 2007 when it was 58.6 percent. Jumbo usage dropped as low as 17.1 percent in January 2009.

Adjustable-rate mortgages (ARMs), an important indicator of mortgage availability, accounted for 14.4 percent of the Bay Area’s home purchase loans in April. That was up from a revised 13.1 percent in March, and down from 14.9 percent in April last year. Since 2000, ARMs have accounted for 48.2 percent of all purchase loans. ARMs hit a low of 3.0 percent of loans in January 2009.

Government-insured FHA home purchase loans, a popular choice among first-time buyers, accounted for 11.0 percent of all Bay Area home purchase mortgages in April, down from 11.5 percent in March and down from 18.4 percent a year earlier. In recent months the FHA level has the been the lowest since summer 2008, reflecting both tougher qualifying standards and the difficulties first-time buyers have with competing with investors and other cash buyers.

The most active lenders to Bay Area home buyers last month were Wells Fargo with 13.8 percent of the market, RPM Mortgage with 4.3 percent, and Stearns Lending with 3.7 percent.

Last month absentee buyers – mostly investors – purchased 24.2 percent of all Bay Area homes. That was down from a revised 27.0 percent in March, and up from 23.5 percent a year ago. Absentee buyers paid a median $362,000 in April, up 31.6 percent from a year earlier.

Buyers who appear to have paid all cash – meaning no sign of a corresponding purchase loan was found in the public record – accounted for 27.8 percent of sales in April. That was down from 30.8 percent the month before and down from 28.3 percent a year earlier. The monthly average going back to 1988 is 13.0 percent. Cash buyers paid a median $365,000 in April, up 35.2 percent from a year earlier.

San Diego-based DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. Because of late data availability, sales were estimated in Alameda, San Francisco and San Mateo counties.

The typical monthly mortgage payment that Bay Area buyers committed themselves to paying last month was $1,821. That was up from $1,581 in March, and up from $1,492 a year ago. Adjusted for inflation, last month’s payment was 35.8 percent below the typical payment in spring 1989, the peak of the prior real estate cycle. It was 52.6 percent below the current cycle’s peak in July 2007.

Indicators of market distress continue to decline. Foreclosure activity remains high by historical standards but well below peak levels reached several years ago. Financing with multiple mortgages is low, down payment sizes are stable, DataQuick reported.

DQ Custom Reports Bay Area ReleaseD.

California home prices soar 8 percent in 1 month – AP State News – The Sacramento Bee

California’s median home sales price soared more than 8 percent from February to March – the latest evidence of the fast-paced recovery in the state’s housing market as buyers compete for thin supplies, a research firm said Thursday.

Read more here: http://www.sacbee.com/2013/04/18/5352887/supply-affects-sf-bay-area-march.html#storylink=cpy


 the complete article -California home prices soar 8 percent in 1 month – AP State News – The Sacramento Bee.

Home Sales Jump, Mortgage Rates Drop

 Read the complete article – Home Sales Jump, Mortgage Rates Drop.


February was a stellar month for housing and apartment starts. Builders broke ground on a lot of new construction, and they also received building permits for future construction at the fastest pace in 4.5 years.

for saleThat’s a sign that things are heading the right way. And it’s also some much needed positive news. The good news comes at a time when the industry is preparing itself for the spring buying season.

FHA May Raise Minimum Credit Scores

HUD Chief: FHA FICO Minimum May Rise

houses loan

FHA Price

The financially strapped Federal Housing Administration is looking at raising credit score requirements and lowering loan limits as possible solutions to reducing risk at the agency.

Currently, mortgage applicants must have a minimum FICO of 580 to qualify for a FHA-insured loan with a 3.5% downpayment.

“We are looking at adjusting the FICO [score],” HUD secretary Shaun Donovan told the Senate Banking Committee Thursday morning.

He also testified that he would like to go back to pre-2008 days when the maximum FHA loan limit was $363,000. Today, the maximum loan limit is $729,750. However, the secretary stressed that he cannot lower the loan limit administratively. It requires congressional action.

Committee Republicans pressed the secretary on when he expects the FHA insurance fund to exhaust its cash reserves, a scenario that would force the agency to seek a draw from the U.S. Treasury to pay claims and other expenses.

Secretary Donovan said the White House budget office is currently working on an estimate that will be part of the president’s fiscal year 2013 budget, which is due in early February.

“Our best projection will be contained in the president’s budget,” Donovan testified.

However, he noted that FHA currently has $30.5 billion in cash reserves. And the independent auditors estimate there is less than a 5% chance FHA will run through those funds during FY 2013, which ends Sept. 30.

The secretary also noted the auditors estimate FHA will collect $11 billion in new premiums in FY 2013.

6 Ways Your Home Can Help You Retire



Once upon a time (i.e., 2006) in a magical place called the Bay Area, the real estate market got so heated that it became commonplace to hear coffee shop patrons trading stories about their little old million-dollar houses. It became equally commonplace for this excess of home equity to create a false sense of financial security, causing many a homeowner to save less for the future than they might have otherwise. This practice was just as inadvisable as it was common, as evidenced by a retirement planner’s primely located billboard at the time, which read:

“My house is worth a million dollars” is NOT a retirement plan.

But many people treated it like it was, to their detriment.

Read the complete article – 6 Ways Your Home Can Help You Retire.

Home price declines resilient against REO saturation: Clear Capital | HousingWire


National home prices fell by the smallest margin in 10 months in light of REO saturation increases, a trend that Clear Capital calls “unusual and encouraging.”


Complete Article: Home price declines resilient against REO saturation: Clear Capital | HousingWire.