30 year mortgages at 2-year low

Most mortgage rates fell this week, with those on 30-year mortgages dropping to their lowest level in more than two years, Freddie Mac reported. Thirty-year fixed-rate mortgages fell to 6.10 percent from 6.20 percent last week. This week's rate was the lowest since the week of Oct. 13, 2005, when rates stood at 6.03 percent, according to the Union-Tribune.

Talks to Improve Baja Safety

After scary robberies, kidnapping and the like, Baja officials are finally getting together to see what they can do to make it safer for tourists. So far their have been six armed assaults on American travelers in the last few months.

Thank goodness they're working on things down there, because I want some lobster!

DISASTER

I am very sad to stay that the state supreme court has upheld a nasty ruling to chase the seals out of La Jolla. So sad that in this day in age, people can't appreciate wildlife and are so selfish they have to hog the ENTIRE COASTLINE for themselves. I'm embarassed for all of us!

Unbelievably Bad Real Estate Photos

Do you want your home to look like THIS when it appears in the MLS? Well, many homes do! Some real estate agents take truly HORRIBLE pictures of their listings and actually expect them to sell. A genius real estate agent named Norm Fisher from Canada made his own slide show of the truly grotesque photos that agents use to market your home. SCARY!!! And funny, too. Click here to check out the truly hilarious slide show.

California offers relief to homeowners facing default

Hooray! California has inked a deal with four major loan servicing companies that would aid homeowners on brink of default by extending low, introductory interest rates on mortgages.

The agreement with Gov. Arnold Schwarzenegger includes Countrywide Financial Corp., GMAC Financial Services, Litton Loan Serving and HomEq Servicing.

At least one of the companies, Countrywide, had previously announced it would reach out to borrowers in danger of defaulting on payments, including modifying the terms of their loans. Countrywide, the nation's largest mortgage lender, has struggled amid rising defaults, forcing it to set aside millions to cover bad loans.

Click here to read the article.

What housing bubble? Places where real estate is hot.

Home prices nationwide posted their biggest drop in 16 years last month, according to the national association of realtors. But someone forgot to tell the folks in Salt Lake City. There, the median home sale price jumped 21 percent in the second quarter this year, versus the same period last year, reports MSNBC.

Click here to read more about places where the real estate market is hot.

Bill would let judges act to save mortgages

WASHINGTON – Congress is considering legislation that would allow bankruptcy court judges to rewrite loan terms for people at risk of losing their homes, a change that supporters say could save a half-million borrowers from foreclosure through early 2009.
Under this plan, judges could lower the interest rate of a mortgage on a primary home, extend the life of the loan or forgive part of the debt – as they currently can for vacation homes, farms and investment properties. Doing so could reduce by one-quarter the 2 million foreclosures expected in the next 18 months, according to Moody's Economy.com.
Click here to read more.