Today’s News Synopsis:

HUD and the Census Bureau reported a 12.4% increase in new home sales, putting the at their highest in 9 years.  A new bill called the Homeowner Survivor Bill of Rights was just approved by the California Assembly that would protect widows and widowers from being foreclosed on unnecessarily.  Fannie Mae and Freddie Mac have released a newly designed application form known as the Uniform Residential Loan Application, the first time in 20 years this form has gone through extensive changes.

In The News:

Survivor Bill of Rights – “California Assembly Approves Bill to Stop ‘Widow Foreclosures'” (8-23-16)

“Earlier today, California’s assembly moved one step closer to enacting legislation designed to protect widows, widowers, and other heirs from unnecessary foreclosures.”

NAHB – “New Home Sales Climb to Highest Level Since October 2007” (8-23-16)

“Sales of newly built, single-family homes rose 12.4 percent in July from a downwardly revised June reading to a seasonally adjusted annual rate of 654,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”

Realty Trac – “HomeDisclosure.com Adds ‘Death in Home’ Data to Website” (8-23-16)

“ATTOM Data Solutions, the nation’s leading source for comprehensive property data, today announced that its pre-diligence website, www.HomeDisclosure.com, has added a new feature that allows consumers to search any valid U.S. address to find out if someone has ever died at an address.”

Fannie Mae – “Fannie Mae and Freddie Mac Publish Redesigned Uniform Residential Loan Application Form and Dataset” (8-23-16)

“Fannie Mae (FNMA/OTC) and Freddie Mac today announced the publication of the redesigned Uniform Residential Loan Application (URLA), the standardized form used by borrowers to apply for a mortgage loan.”

US News – “Pros and Cons of Real Estate Crowdfunding for Retirement” (8-23-16)

“Real estate is an important element of any well-diversified portfolio. Not only is it a good way to insulate yourself against volatility in the stock market, but it can provide a steady of stream of income in retirement.”

Dallas Morning News – “Once a booming real estate trend, McMansions now a bad investment” (8-23-16)

“In the late 1990s, Americans started referring to the new tract-built luxury homes popping up in suburbs across America as McMansions, a biting portmanteau implying that the new structures were mass-produced and ugly, with added, implied snark that their denizens, however wealthy, lacked the sophistication to tell filet mignon from a Big Mac.”

Housing Wire – “DOJ again rebuked in effort to enforce massive BofA ‘Hustle’ mortgage fine” (8-23-16)

“Needless to say, the federal government probably isn’t too happy with the United States Court of Appeals for the Second Circuit right now.”

 

Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.

Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on September 28.

Bruce Norris will be presenting Cashing In On a Boom: Investing in Quadrant 4 at the Back Bay Conference Center on Saturday, October 8.

Bruce Norris of The Norris Group will be presenting the 9th annual I Survived Real Estate 2016 on Friday, October 21.

 

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.