Action Alert! Ensure Your Clients Have Access to Affordable Mortgages

On September 30, the cost of a mortgage could rise significantly. If this happens, many of your clients run the risk of being priced out of the American Dream of home ownership. Even worse, this could hold back the housing recovery.

We need you to share your market expertise with Congress. Send the letter below urging them to make the current mortgage loan limits for FHA and GSEs permanent. Well-qualified buyers don't need another hurdle to access affordable mortgage financing.

 Click here to take action on loan limits!

Brokers: Down Payment Assistance Programs for Homebuyers

Learn about lending and real estate services in Los Angeles County funded in part by federal Neighborhood Stabilization grants

Real Estate Broker Orientation hosted by Neighborhood Housing Services of Los Angeles County

Thursday, September 22, 2011
9:00am-10:00am

Neighborhood Housing Services of Los Angeles County Corporate Office
3926 Wilshire Blvd. 3rd Flr. Los Angeles, CA 90010

Come learn more about:

• Neighborhood Stabilization Program (Low-Cost Rehab Homes) 
• Affordable Lending (Special Financing Programs and Down Payment Assistance) 
• Construction Management Services 
• And much more 

 Please note, this orientation is only open to real estate brokers and not to the public. Call 213-381-2682 ext. 566 to RSVP and find out about future orientations.

REALTORS® meet Congresswoman Janice Hahn

From left: Rick Otterstrom, Mina Semenza,
C.A.R. President Le Francis Arnold, Congresswoman Janice Hahn,
James Litz, David Kissinger, Allie Otterstrom

REALTORS® in the South Bay recently met with Congresswoman Janice Hahn as she gears up for reelection to Congress. Hahn is running in a new district after the recently completed redistricting of Congressional seats in California. NAR's REALTORS® Political Action Committee (RPAC) has supported Congresswoman Hahn.

Can falling loan limits affect you? Yes they can!

Federal loan limits will decrease on October 1 unless Congress takes immediate action to make the current loan limits permanent. The Daily Breeze today reports on the unreported story about loan limits:

Jumbo loans - the federally insured mortgages that allow homebuyers to secure lower interest rates and thereby increase the size of the loan they qualify for - will see a big change on Oct. 1.

That's when the jumbo loan limits will drop nationwide. The amount of decline depends on the homes prices in each county.

For Los Angeles County, the limit will fall from $729,750 to $625,500.

That affects home loans through the Federal Housing Administration that require a 3.5 percent down payment, as well as mortgages through Fannie Mae and Freddie Mac that demand 20 percent down.

But don't look for a mob of homebuyers rushing to close their loans before then. That is at least partly because few consumers know about the change.

Think that high loan limits are just a thing for a few high cost areas? Think again. NAR's research found that more than 669 counties in 42 states and the territories would be negatively impacted by the loan limit change. The average decline in loan limits would be more than $68,000. Only 8 states will see no decline (AR, IA, KS, MS, NE, ND, SD, & OK). Every other state will see a drop in loan limits.

August 20 - Energy Upgrade California - Come Meet the Contractors!

The South Bay Environmental Services Center invites you to a special event:

Energy Upgrade California: Come Meet the Contractors!
Enjoy free lunch from LA's premier food trucks and enter to win prizes . . .
like a Home Energy Audit!

When:
Saturday, August 20, 2011
10:00am - 12:00pm

Where:
South Bay Energy Efficiency Demonstration (SEED) House
5021 Lennox Blvd, Lennox, CA 90304

Join us for a special Homeowner workshop on Saturday, August 20 to learn how to save money, increase energy and water efficiency, and earn up to $6,000 in rebates and incentives from Energy Upgrade California!


10am - 11am - Homeowners Workshop
Learn how to save money by making your home more energy efficient and how to maximize your rebate with Energy Upgrade California!

11am - 12:00pm - Lunch & Meet the Contractors
Afterwards, enjoy complimentary refreshments from the BORDER GRILL (specialty Mexican Food) and REBEL BITE (comfort food with an attitude) FOOD TRUCKS, enter to win prizes, including a Home Energy Audit, and meet with our qualified Participating Contractors to get the ball rolling on your energy efficiency upgrade!

Event is FREE, but for planning purposes, please pre-register now

Please call SBESC at (310) 371-7222 if you have questions, and please feel free to share news of this event with your friends.