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The "LOST DECADE"
September 28th, 2011 11:33 AM

"THE LOST DECADE GRAPH"...This graph shows the three indexes in real terms (adjusted for inflation using CPI less Shelter). Note: some people use other inflation measures to adjust for real prices. In real terms, the National index is back to Q3 1999 levels, the Composite 20 index is back to August 2000, and the CoreLogic index back to July 2000. In real terms, all appreciation in the LAST DECADE is gone.

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Mark Cooper
Coldwell Banker Southeast Metro at DTC
8490 E CRESCENT Pkwy Ste 100
Greenwood Village, CO 80111

mark@come2colorado.com
www.facebook.com/MarkCooperRealEstatePage
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www.come2colorado.com
303-843-1545




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Posted by Mark Cooper on September 28th, 2011 11:33 AMPost a Comment

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September 16th, 2011 9:30 AM

Financially distressed homeowners with Freddie Mac mortgages will have a new option for loan modifications beginning next month.

The new option, called a Standard Modification, is designed for borrowers who are ineligible for a Home Affordable Modification Program (HAMP) loan modification or have previously defaulted on a HAMP or other loan mod. For those who are approved, the program reduces a borrower's mortgage principle and monthly payment by at least 10 percent each, thereby making the payments more affordable.

To qualify, homeowners must be at least 60 days past due on their mortgage, that is, having missed at least two monthly payments. Those who are not at least 60 days past due can qualify by proving they are in imminent danger of default, through demonstrating an eligible hardship and providing verification of income.

5 percent interest, 40 year term

Mortgages that are modified will have their interest rates set to 5 percent and the amortization period (time required to pay off the mortgage) extended to 40 years from the time of the modification. Lenders approving such modification will receive cash incentives of up to $1,600 per homeowner approved.

Borrowers approved for the program must undergo a three-month trial period during which they must keep up with their new payment schedule before the loan modification is finalized and made permanent, similar to HAMP. Lenders will have incentives to encourage them to finalize borrower's status within two months of the end of the trial period.

Trial mods may begin Oct. 1

Lenders may begin trial modifications for approved homeowners under the program as soon as Oct. 1, 2011. As of Jan. 1, 2011, all borrowers seeking a loan modification of any type on a Freddie Mac-supported mortgage must be evaluated for eligibility under the program.

The new Standard Modification replaces an existing type of Freddie Mac loan modification called a Debt Coverage Ratio, which now is being referred to as a Classic Modification. The government's HAMP loan modification will continue to be available as well.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Mark Cooper
Coldwell Banker Southeast Metro at DTC
8490 E CRESCENT Pkwy Ste 100
Greenwood Village, CO 80111

mark@come2colorado.com
www.facebook.com/MarkCooperRealEstatePage
www.YouTube.com/user/come2colorado/
www.come2colorado.com
303-843-1545


Posted in:General
Posted by Mark Cooper on September 16th, 2011 9:30 AMLeave a Comment

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The Obama administration is expected to announce a new mortgage relief program next week to help struggling home owners stay in their home and reduce the number of foreclosures, Reuters reports.

While the exact details of the proposal are still unknown, analysts are speculating that President Barack Obama is likely to announce a plan that would help more borrowers to refinance loans, allowing them to lower their monthly payments and ward off possible foreclosure. 

The refinancing plan will reportedly apply to loans backed by government-owned Fannie Mae and Freddie Mac or the Federal Housing Administration, allowing more home owners who have been unable to refinance due to poor credit, owing too much above their home’s current value, or unemployment, to take advantage of current low interest rates. 

Other lawmakers who have pushed for such a move have argued that by lowering home owners’ monthly payments, it would free up cash for other spending, which will help stimulate the overall economy. 

Source: “White House Could Unveil Mortgage Plan Next Week,” Reuters (Aug. 31, 2011)


Posted in:General
Posted by Mark Cooper on September 15th, 2011 12:18 PMLeave a Comment

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$599,000.00
5557 S. Mobile Street

Centennial, CO 80015



Beds: 5 Rooms: 0
Full Baths: 2 Sq. Ft.: 5650
Garage: 4 Built: 1986
 

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please feel free to call.

Mark Cooper
Coldwell Banker Residential Brokerage
3038431545
www.come2colorado.com



 
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Posted in:General
Posted by Mark Cooper on September 9th, 2011 12:35 PMLeave a Comment

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