Friday, November 30, 2007

Q: What is the status of AmeriDream's lawsuit vs. HUD and the agency's proposed rule that will eliminate down payment assistance?

A: There have been two significant events with regard to HUD’s proposed rule.

First, HUD voluntarily agreed to defer the effectiveness of the Regulation, as to AmeriDream only based upon the agreed to court schedule.

Second, the judge presiding over this litigation issued an injunction preventing the regulation from taking effect and stated that AmeriDream's arguments that the Regulation violates the APA are, "substantially likely to succeed on the merits."

As the Gold Standard for down payment assistance, AmeriDream remains committed to continue to fight the HUD Rule and to continue its mission to help individuals and families that are in need of a DPA program. AmeriDream also remains committed to keeping you aware of the latest news and information regarding the HUD Rule on DPA. www.ameridream.org.

Read More Industry News @ RealEstateLatino.com, the nation's premier real estate latino online community.


Thursday, November 29, 2007


Couple weeks ago I participated in a seminar prepared by the local HUD office in Jacksonville, FL about the government initiative to help homeowners facing foreclosure or is trying to refinance their adjustable rate mortgage. Here is some of the program guideline.

Do you think this program will make a big impact on the nation's foreclosure problem?



FHASecure
For those of you loan officers I wanted to share this new FHA porgram and see if you can assist more homebuyers.

FHASecure

YOU WORKED HARD FOR HOMEOWNERSHIP

The Federal Housing Administration has helped millions of Americans secure their dream of homeownership since 1934. Now we want to keep those dreams alive.

We provide mortgage insurance on loans made by FHA approved lenders throughout the United States and its territories. FHA insures mortgages on single family, multifamily, manufactured homes and healthcare facilities.

WHAT IS FHASecure?

FHASecure is a refinancing option that can give credit-worthy homeowners, who were making timely mortgage payments before their loans reset but are now in default, a second chance with an FHA insured loan product.

WHO IS ELIGIBLE?

To qualify for FHASecure, and include the delinquent loan payments, homeowners wishing to refinance must meet the following requirements:
1. Have a non-FHA insured adjustable rate mortgage that reset;
2. Sufficient income to make the mortgage payment; and
3. A history of on-time mortgage payments before the loan reset.

Homeowners who are current on their conventional mortgage must have sufficient income to make the mortgage payment.

FHA CAN HELP YOU

By refinancing into an FHA insured mortgage, a homeowner can expect lower monthly mortgage payments and the safety and security of an FHA insured product that offers default protection measures.

ADDITIONAL BENEFITS OF FHA
• No prepayment penalties
• No confusing teaser rates
• No backend balloon payments

FHASecure can improve the quality of life for communities by helping to stabilize local housing markets.

HOW TO APPLY

Search for the nearest FHA approved lender at www.fha.gov or phone 1-800-CALL-FHA (1-800-225-5342).

FHASecure
For those of you loan officers I wanted to share this new FHA porgram and see if you can assist more homebuyers.

FHASecure

YOU WORKED HARD FOR HOMEOWNERSHIP

The Federal Housing Administration has helped millions of Americans secure their dream of homeownership since 1934. Now we want to keep those dreams alive.

We provide mortgage insurance on loans made by FHA approved lenders throughout the United States and its territories. FHA insures mortgages on single family, multifamily, manufactured homes and healthcare facilities.

WHAT IS FHASecure?

FHASecure is a refinancing option that can give credit-worthy homeowners, who were making timely mortgage payments before their loans reset but are now in default, a second chance with an FHA insured loan product.

WHO IS ELIGIBLE?

To qualify for FHASecure, and include the delinquent loan payments, homeowners wishing to refinance must meet the following requirements:
1. Have a non-FHA insured adjustable rate mortgage that reset;
2. Sufficient income to make the mortgage payment; and
3. A history of on-time mortgage payments before the loan reset.

Homeowners who are current on their conventional mortgage must have sufficient income to make the mortgage payment.

FHA CAN HELP YOU

By refinancing into an FHA insured mortgage, a homeowner can expect lower monthly mortgage payments and the safety and security of an FHA insured product that offers default protection measures.

ADDITIONAL BENEFITS OF FHA
• No prepayment penalties
• No confusing teaser rates
• No backend balloon payments

FHASecure can improve the quality of life for communities by helping to stabilize local housing markets.

HOW TO APPLY

Search for the nearest FHA approved lender at www.fha.gov or phone 1-800-CALL-FHA (1-800-225-5342).

Wednesday, November 28, 2007


I need to find 24 Bilinagual (Spanish) Realtors in the Miami area who work with 1st time homebuyers. They will participate in a focus group for Freddie Mac. There will be a $50 compensation to each person. The times are 3:00-4:00 p.m. and 3:15-4:15 p.m. I need names and contact numbers to confirm their attendance.



Also, I need two Realtors to speak on these panels:



One Realtor for the Best Practices Session



One Realtor for the Foreclosure Session



I need to find these people a.s.a.p. you can e-mail me your info or to request more information @ bill.arce@realestatelatino.com

 

Tuesday, November 27, 2007


The Mortgage Bankers Association (MBA) is hosting an Emerging Markets LIVE Online Workshop on Tuesday, December 18th, from 2:00 pm to 3:30 pm.

This Emerging Markets LIVE Online Workshop provides an overview of the opportunities that Emerging Markets represents and provides basic, cost-effective marketing strategies and tactics to immediately take advantage of these emerging opportunities.

The following residential mortgage professionals are encouraged to attend:
Upper management
Loan originators
Underwriters
Processors
Account executives - wholesale, mortgage insurance and title insurance

More information is available at the following link: http://www.campusmba.org/products/default.aspx?product_code=E2801716G/REGIS

Another reminder: We are doing an article on the four fundamental flaws in the mortgage industry. We welcome your feedback. Please email Steven Holland at sholland@multihmc.com if you wish to voice your opinion(s).

The Four Fundamental Flaws in the Mortgage Industry (Abbreviated)

1. Marketing Communications (Proprietor Flaw)
Branding, the art of distinguishing proprietors and/or their goods and services in order to “own” the customer, often takes a back seat to loan originators in the mortgage industry’s marketing communications.

2. Marketing Planning (Production Flaw)
Production strategies, more often are determined by originators than by branch or company management.

3. Risk Pricing (Product Flaw)
The true risks characteristics of both borrowers and the collateral are not adequately identified and assessed, impairing the industry’s ability to create improved and better priced mortgage products.

4. User Readiness (Preparation Flaw)
All three key areas of the mortgage industry (loan production, secondary marketing and loan administration) do not adequately incorporate and economically value homebuyer education and loan originator training.

Multicultural Homeownership Marketing Consultants (MHMC) is a marketing communications firm that provides mortgage- and real estate-related companies and non-profits successful business development strategies in Emerging Markets communities. We’re a little different than you might expect, so visit us at www.multihmc.com.

Monday, November 26, 2007


Has Fear Paralyzed Your Home Buyers?

In the current crisis of trust in the Housing Market, homebuyers no longer know whom to turn to for advice.
Join national housing leaders for a candid discussion on the state of the real estate market, the emerging era of self-reform and a return to a higher standard of practices.

Hosted by National Association of Hispanic Real Estate Professionals

Monday, December 3, 2007
4:30-6:00 PM

Embassy Suites Hotel-Miami International Airport
3974 NW South River Drive, Miami, Florida

A Town-Hall Meeting between Consumers and Local
& National Housing Leaders and Workshops on Homeownership and Foreclosure Prevention Will Follow

FREE ADMITTANCE



Wednesday, November 21, 2007


Dear NAHREP Friends,

We are about to celebrate the quintessential American holiday, Thanksgiving Day.

The first feast of thanksgiving is attributed to the pilgrims that settled in Plymouth Massachusetts:

In the fall of 1621 the pilgrims celebrated over a three day period for their harvest bounty, surviving a tough first winter and learning from the hospitable local Indians how to plant a crop that would sustain them through the forthcoming winter.

After that first celebration which was never repeated again, William Bradford, Governor of the Plymouth colony, proclaimed a day of thanksgiving, henceforth setting aside a day each fall for that purpose. As a result, this practice was observed each year and grew from settlement to settlement and then from colony to colony and state to state. Thanksgiving Day became a uniquely American tradition for hundreds of years as a day of worship to give thanks to God: a day in which the overwhelming majority of the population attended a religious service in the morning and prepared a FAMILY feast in the evening, a day for the family to give thanks to God.

In 1789 George Washington, our first President proclaimed the first national day of thanksgiving beginning with these words:

“WHEREAS it is the duty of all nations to acknowledge the providence of Almighty God, to obey His will, to be grateful for His benefits, and humbly to implore His protection and favour; and Whereas both Houses of Congress have, by their joint committee, requested me "to recommend to the people of the United States a DAY OF PUBLICK THANSGIVING and PRAYER, to be observed by acknowledging with grateful hearts the many and signal favors of Almighty God, especially by affording them an opportunity peaceably.”

Thanksgiving Day was finally set aside as the last Thursday in November as a national day of thanksgiving by President Abraham Lincoln in 1863.


WE have much for which to be grateful to our Creator, we have dealt with the challenges of many difficulties of our own this year and we have also laid the foundation for a better life ahead. The only limits to what we may achieve are our very own vision, our talents and our courage; they are amongst the blessings that are afforded by freedom.

On Thursday, as you are gathered with your family and loved ones remembering all the wonderful things for which you are grateful, remember to give thanks for our ability to work together to honorably serve our neighbors, for our industry, for our freedoms and for granting us another day that we may use our talents in the service of our fellow citizens.

It is a blessing to count you amongst my friends and colleagues.

May Thanksgiving Day be filled with true gratitude for your family’s bounty and may hope for the future and the Lord’s Peace abide in your hearts and homes.

Tino


Tino Diaz
VERTEX Mortgage Bankers
9485 SW 72 Street, Suite A-240
Miami, Florida 33173
305-598-4918 fax
800-283-5313 xt 131 Toll Free
305-503-5626 xt 131

Tuesday, November 20, 2007


Jacksonville, Fl November 17, 2007-Education remains a major barrier to Latino homeownership.

RealEstateLatino.com, the nation’s leading online provider of real estate resource and information with the mission of increasing homeownership opportunities within the Latino community, announce today the successful participation its President and Founder Bill Arce on another local Homebuyer Seminar in Spanish, Mr. Arce was also there representing the NAHREP Jacksonville Chapter as its president .

The seminar was held at the Watson Realty Oak Leaf’s office. It counted with Latinos professionals representing many branches of the real estate industry. Among the professionals presented was Gaby Young an attorney and manager for Estate Title and Trust and a NAHREP Jacksonville chapter board member.

Over 20 enthusiastic mainly first time Latino homebuyers took advantage of the useful and relevant information presented in the seminar. Current real estate market situation was discussed by Sheila Carrasquillo a Realtor® at Watson Realty and the seminar organizer. Many questions were asked by the potential homeowners, but the one that brought more discussion was “how a home buyer knows he or she is working with the right real estate agent? As a proud member of NAHREP I address the question and mention the newly adapted by NAHREP code of trust “En Confianza”, Arce said.

First time homebuyers in Jacksonville can count on RealEstateLatino.com and NAHREP chapter to assist them achieving the American Dream, said Mr. Arce. More homebuyer’s seminars and community advocacy will continue to be his priority for 2008.

About RealEstateLatino.com:RealEstateLatino.com, based in Jacksonville, Fla., is the nation’s leading provider of online real estate resource and information with the mission of increasing homeownership opportunities within the Latino community. Launched in 2004, RealEstateLatino.com was founded by William R. Arce to answer Latinos real estate concerns about purchasing homes. For more information please visit, www.realestatelatino.com.

###

Media Contact:
Dunia Arce(904) 415-2755

Hispanic group sets up ethical princples to protect minority buyers.

Code calls for stronger licensing, bilingual guide to home buying.

By Kathleen Lynn

THE HACKENSACK RECORD


Sunday, November 18, 2007

HACKENSACK, N.J. — Buying a house can be intimidating for anyone.

But it's especially difficult for Latino buyers, according to the National Association of Hispanic Real Estate Professionals. The group recently announced a set of ethical principles, called a code of trust, aimed at protecting those buyers.

The organization's code calls for stronger licensing and industry education requirements; quality controls to ensure that all qualifying consumers are offered a prime loan; increased education so that borrowers can make informed decisions; and development of a bilingual guide to home buying.

"Shrinking values and the current credit crunch threaten to undermine the steady home ownership gains our community has made in the past 20 years," said association President and CEO Tim Sandos. "For those borrowers who have fallen prey to unethical practitioners, the American dream has become a nightmare. Our newly adopted code of trust ensures that our members set an example for the industry as a whole."

According to the U.S. Census Bureau, about half of Latinos own their homes. Although that number has edged up slightly in recent years, it's still well below the 75 percent home ownership rate among non-Hispanic whites.

And, according to the association, Latinos are especially vulnerable to predatory loan practices.

Nearly 50 percent of Latino homeowners who have subprime mortgages, which carry higher interest rates, would have qualified for a prime loan, the group said.

The group also said foreclosures among Hispanics are expected to reach nearly $25 billion in 2007 and $52 billion in 2008.

Carlos Mesa, director of education at Unicasa in Passaic, N.J., said he is concerned about foreclosures. But he predicted that many Hispanics would fight hard and take second jobs to keep their homes.

"For a lot of Latinos, their home is their main investment," he said. NAHREP.org

Tuesday, November 13, 2007


Casa Latino Real Estate Forges Relationship with RealEstateLatino.com

CHICAGO, ILLINOIS November 12, 2007 Real Estate News (PRLEAP.COM)

Casa Latino Franchise Corporation, the nation’s leading Latino real estate brand has partnered with Jacksonville, FL based RealEstateLatino.com to provide services and exposure to its growing army of real estate agents. RealEstateLatino.com, the nation’s leading provider of real estate resource and information with the mission of increasing homeownership opportunities within the Latino community, was founded in 2004 by William Arce, a real estate broker and former HOGAR Fellow at the Congressional Hispanic Caucus in Washington, DC. Robb Heering, Casa Latino’s founder and CEO said he first heard of Arce in 2005 when Casa Latino was preparing to expand it’s one office operation into the national franchise model that exists today.

“Although I had telephone conversations with William Arce in the past about some possible synergies, it wasn’t until we met at the NAHREP conference in Orlando, FL that we began serious discussions about the ability to work together. By chance, we were seated at the same table during a meeting of NAHREP Chapter Presidents. I am the President of the Connecticut Chapter of NAHREP and William leads the Jacksonville, FL Chapter” Heering stated.

Commencing on or before January 1, 2008, Casa Latino franchise owners, brokers and agents will be posting real estate listings on RealEstateLatino.com. Casa Latino’s agents will receive discounted membership, services, and products at RealEstateLatino.com. William Arce stated that “Casa Latino is well positioned to dominate the Latino real estate space. Their philosophy, expertise and understanding, combined with the tools and resources they provide to their franchise owners, agents, and clients will help them in continuing to grow their brand as America’s leading Latino real estate agency”.

About Casa Latino Casa Latino was created in 2005 based upon the premise that Hispanic home buyers and sellers have unique needs based upon cultural differences and lifestyles, bolstered by the fact that those needs are not being effectively served by any other national brand. The company offers franchisees unprecedented culturally specific and significant back office support, training, marketing tools, advertising, coaching, and much more to ensure their success. The franchise model encourages a variety of agent compensation programs which dramatically enhance a broker’s ability to recruit agents. The low franchise fee and an exceptionally low transaction based royalty structure make Casa Latino an extremely attractive opportunity.

Casa Latino has awarded franchises in several states and is executing an aggressive growth plan in the USA and many other countries. The company is headquartered in Southbury, CT with a national franchise sales office based in Dallas, TX.

PRESS CONTACT: Casa Latino Franchise Corporation (203) 262-4185CasaLatino.com
Zillow.com(R) and 11 Newspaper Companies Form Online Real Estate Partnership
Alliance will extend local listings of 282 newspapers to powerful and growing national real estate site.

November 13, 2007: 12:00 AM EST


SEATTLE, Nov. 13 /PRNewswire/ -- Leading real estate Web site Zillow.com and 11 newspaper publishing companies representing 282 newspapers nationwide announced plans today for a strategic partnership to extend local classified advertising such as for-sale listings and open house information to Zillow's online platform.

Local advertisers who place their print and online listings with the newspapers will be able to choose to have their listings and open house ads also displayed on Zillow, one of the largest online real estate sites. Four million people visit Zillow every month, with 70 percent buying or selling a home now, or planning to buy or sell a home in the next one to two years.

Home buyers on Zillow in turn will see a more comprehensive set of for-sale listings and open house details in their market. The 282 newspapers and their online sites provide the primary source of real estate advertising in their markets. Newspapers will have the ability to use the Zillow platform to enhance their online sites with rich real estate content and information on homes, neighborhoods and value trends via Zillow's technology.

Zillow and the newspaper companies said they expect to launch the alliance and roll out the new features in the first half of 2008. More newspaper companies are expected to join the network prior to launch.

The newspaper companies included so far in the consortium are Hearst Newspapers; Journal Register Company; Lee Enterprises, Incorporated; Media General, Inc.; MediaNews Group, Inc.; Morris Communications Company, LLC; Paddock Publications; Pittsburgh Tribune-Review; The E.W. Scripps Company; Times-Shamrock Communications and The Day Publishing Company. Newspapers include major market dailies such as The San Francisco Chronicle, Houston Chronicle, San Jose Mercury News, The Tampa Tribune and the St. Louis Post-Dispatch

"Reading the weekend real estate section is a ritual that many enjoy and to brokers and agents, the paper is a core marketing tool. Now, the process of real estate discovery will be further integrated into the online world. We are honored that this consortium of newspaper companies has chosen Zillow as the partner to fast-track their presence in the digital real estate world," said Lloyd Frink, Zillow president. "Research shows that 80 percent of home buyers use the Internet in the home-buying process. That, combined with Zillow's audience of engaged real estate enthusiasts, creates a huge opportunity for local brokerages looking to expand their reach online."

Speaking on behalf of the newspaper consortium, Lincoln Millstein, senior vice president of Hearst Newspapers, and Gregory P. Schermer, vice president for interactive media at Lee Enterprises, described the partnership as a significant step in the national aggregation of real estate listings online.

"The tremendous local reach of our newspapers and online sites, coupled with our strong local sales forces, provides a powerful springboard for this partnership with Zillow," Millstein said.

Schermer added, "Together with Zillow, we bring a unique and compelling set of online marketing tools to enable local brokers and agents to distinguish their listings and abilities. The result will be a compelling value proposition for advertisers and online users, which we believe will provide long-term opportunities for revenue growth."

Many of the newspaper companies in the planned Zillow agreement are part of a newspaper consortium, which formed a year ago. The consortium began with a strategic partnership with Yahoo! for online recruitment advertising. It has since expanded to include common online advertising network distribution, online text ads, and content sharing between Yahoo! and consortium newspapers. This new initiative extends the alliance of these newspaper companies to the real estate sector. Today's announcement is a first-of-its-kind partnership between online and offline real estate information channels.

Zillow.com

Zillow.com is an online real estate community where homeowners, buyers, sellers, and real estate agents and professionals find and share vital information about homes, for free. Launched in early 2006 with Zestimate(R) values and data on millions of U.S. homes, Zillow has since opened the site to community input, data and dialogue, including "Home Q&A." Zillow's goal is to help people become smarter about real estate -- what homes are worth, what's for sale, and what local experts have to say about real estate and individual homes. One of the most-visited real estate Web sites, Zillow was the only online company named by Advertising Age magazine to its 2006 "Marketing 50" list of the most powerful consumer brands. Zillow is headquartered in Seattle and has raised $87 million in funding. Zillow.com, Zillow, and Zestimate are registered trademarks of Zillow, Inc.

Hearst Newspapers

Hearst Newspapers is a unit of Hearst Corporation (http://www.hearst.com), one of the nation's largest diversified media companies. It's major interests include ownership of 12 daily and 31 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, and Albany Times Union; as well as interests in an additional 47 daily and 37 non-daily newspapers owned by MediaNews Group; nearly 200 magazines around the world, including Cosmopolitan and O, The Oprah Magazine; 29 television stations through Hearst-Argyle Television which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, The History Channel and ESPN; as well as business publishing, including a joint venture interest in Fitch Ratings; Internet businesses, television production, newspaper features distribution and real estate.

Journal Register Company

Journal Register Company is a leading U.S. media company. Journal Register Company owns 22 daily newspapers and 345 non-daily publications. Journal Register Company currently operates 222 individual Web sites that are affiliated with the company's daily newspapers, non-daily publications and its network of employment Web sites. These Web sites can be accessed at http://www.JournalRegister.com. All of the company's operations are strategically clustered in six geographic areas: Greater Philadelphia; Michigan; Connecticut; Greater Cleveland; and the Capital-Saratoga and Mid-Hudson regions of New York.

Lee Enterprises

Lee Enterprises, Incorporated , is a premier provider of local news, information and advertising in primarily midsize markets, with 51 daily newspapers and a joint interest in five others, rapidly growing online sites and more than 300 weekly newspapers and specialty publications in 23 states. Lee's newspapers have circulation of 1.6 million daily and 1.9 million Sunday, reaching more than four million readers daily. Lee's online sites attract more than 11 million unique visitors monthly, and Lee's weekly publications are distributed to more than 4.5 million households. Lee's newspaper markets include St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Billings, Mont.; Bloomington, Ill.; Tucson, Ariz.; and Napa, Calif. Lee is based in Davenport, Iowa. For more information about Lee, please visit http://www.lee.net.

Media General, Inc.

Media General is a multimedia company operating leading newspapers, television stations and online enterprises primarily in the Southeastern United States. The company's publishing assets include three metropolitan newspapers, The Tampa Tribune, Richmond Times-Dispatch, and Winston-Salem Journal; 22 daily community newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina; and more than 150 weekly newspapers and other publications. The company's broadcasting assets include 23 network-affiliated television stations that reach more than 32 percent of the television households in the Southeast and nearly 9.5 percent of those in the United States. The company's interactive media assets include more than 75 online enterprises that are associated with its newspapers and television stations. Media General also owns a 33 percent interest in SP Newsprint Company, a manufacturer of recycled newsprint.

MediaNews Group, Inc.

MediaNews Group, Inc. is the nation's fourth largest newspaper company, with headquarters in Denver, Colo. MediaNews Group and its affiliated companies publish 58 daily newspapers and approximately 100 non-daily publications in 13 states. In addition, MediaNews Group owns a CBS affiliate in Anchorage, Alaska and four radio stations in Texas. MediaNews Group Interactive maintains Web sites for all of its daily newspapers and an umbrella site, newschoice.com

Paddock Publications, Inc.

Paddock Publications Inc., is the third largest newspaper in Illinois, serving Chicago's growing suburbs. Based in Arlington Heights, IL, Paddock is privately held and publishes the Daily Herald newspaper, covering more than 100 communities with localized editions and a circulation of more than 150,000. Paddock's Web site, dailyherald.com, receives 10 million page views per month with more than 75 percent unique viewers to its online content. Paddock has several non-daily publications, including Reflejos, a 100,000 circulation weekly bilingual newspaper serving Latinos in the suburbs of Chicago, and Beep, a 30,000 circulation weekly youth-oriented publication with a companion Web site, Beepcentral.com.

Pittsburgh Tribune-Review

In addition to the Pittsburgh Tribune-Review, the newspaper group includes the Trib P.M., Valley News Dispatch, Valley Independent, Daily Courier, Leader Times, Blairsville Dispatch and Gateway Newspapers.

The E. W. Scripps Company

The E. W. Scripps Company is a diverse and growing media enterprise with interests in national cable networks, newspaper publishing, broadcast television stations, interactive media, and licensing and syndication. The company's portfolio of media properties includes: Scripps Networks, with such brands as HGTV, Food Network, DIY Network, Fine Living and Great American Country; daily and community newspapers in 17 markets and the Washington-based Scripps Media Center, home to the Scripps Howard News Service; 10 broadcast TV stations, including six ABC-affiliated stations, three NBC affiliates and one independent; Scripps Interactive Media, including leading online search and comparison shopping services, Shopzilla and uSwitch; and United Media, a leading worldwide licensing and syndication company that is the home of Peanuts, Dilbert and approximately 150 other features and comics.

Times-Shamrock Communications

Times-Shamrock Communications newspapers include The Times-Tribune in Scranton, PA, and The Citizens' Voice in Wilkes-Barre. Others in Pennsylvania are The Daily Review in Towanda, The News Item in Shamokin and The Standard Speaker in Hazleton. Times-Shamrock also owns The Progress-Index in Petersburg, Va.

The Day Publishing Company
The Day Publishing Company is based in New London, CT.

Forward-looking statements

This news release contains forward-looking statements that involve risks and uncertainties concerning Zillow's and the newspaper companies' proposed transaction and its impact on their strategic and operational plans. Actual events or results may differ materially. Potential risks and uncertainties include, among others, the possibility that the planned subsequent implementations described may be delayed, may not ultimately be implemented, or if implemented may not be successful; and the anticipated benefits described to the companies may not be achieved. More information about potential factors that could affect business and financial results of the public companies involved in this planned transaction are included in filings with the U.S. Securities and Exchange Commission (http://www.sec.gov), including in their Annual Reports on Form 10-K.

Friday, November 09, 2007


Esther Aguilera, CHCI President & CEO said, “The foreclosure crisis we currently face in the Latino community is only going to get worse unless we act now” HOGAR’s, the Congressional Hispanic Caucus Institute’s National Housing Initiative, recommendations are the first concrete steps we must take to protect countless Latinos from losing their homes. CHCI is a body that is uniquely positioned with 25 Members of Congress serving on the board; its main work is to inform policy makers on the critical implication of their findings.


According to a very recent finding by HOGAR in partnership with NeighborWorks(R) America released the findings of eight national focus groups with Latino-serving housing professionals. It proposed its testimonials for policymakers, community advocates, and market players on how to prevent Latino home foreclosures.


Senator Robert Menendez (NJ) and Congressmen Joe Baca (CA-43) and Albio Sires (NJ-13) were three of who participated in the policy briefing discussing eight focus groups held nationally with more than 90 housing industry representatives. The main groups in focus were held in Austin, TX; Chicago, IL; Denver, CO; Miami, FL; Phoenix, AZ; Washington, DC; and Northern Virginia, areas with both high rates of foreclosure and large Latino populations.


“When so many Hispanics have been sold ticking time-bomb loans, it is crucial that we make it a priority to target this kind of predatory lending” said Sen. Bob Menendez (D-NJ). “I am committed to addressing the mortgage crisis, and I commend CHCI’s HOGAR initiative for making substantive and productive recommendations. It helps people in our communities continue to live the American Dream.”


Rep. Albio Sires, a member of the House Financial Services Committee said “The Congressional Hispanic Caucus Institute’s HOGAR program has once again provided valuable insight into the problem that potential Hispanic homeowners face in today’s housing market.” Their recent report names the Sustainable Homeownership - Market and Policy Implications for Communities, looks at guiding efforts in Congress to ensure that homeowners build wealth for their future, rather than lose hope and their home”.


HOGAR\’s recommendations to abate future foreclosures include:
Methods of flexible underwriting coupled with homeownership education by a trained professional is something that Lenders should be encouraged to continue using
The Leaders in the housing community should alleviate interaction between real estate professionals and housing counseling organizations to discuss how counseling can help homebuyers get and stay in their homes.


A system should be developed that allows housing professionals and consumers to anonymously report unethical acts to protect the most vulnerable populations.

Wednesday, November 07, 2007

Foreclosure Prevention In Illinois

New Illinois Law to Help Protect Homeowners from Foreclosures
AARP-backed law will toughen standards for mortgage brokers takes aim at consumer protections from predatory loans

Chicago, IL--(HISPANIC PR WIRE)--November 6, 2007--In the midst of the foreclosure crisis striking the nation, Illinois homeowners received some good news; Governor Rod Blagojevich has delivered a state law to help protect consumers from losing their homes.

The AARP-backed Homeowner Protection Act, sponsored by Senator Jacqueline Collins (Chicago) and Representative Karen Yarbrough (Broadview), will help eliminate misleading loan information, serve to better inform consumers, and hold mortgage brokers more accountable.
“Nearly 30% of older borrowers have their home loans at a sub-prime rate, leaving them at an increased risk of losing their most valuable asset, their home,” said Bob Gallo, State Director for AARP Illinois.

“AARP commends the Governor, Senator Collins and Representative Yarbrough for moving to protect Illinois homeowners from the crisis of facing a foreclosure due to a misleading home loan.” AARP pressed for the new law as older homeowners are increasingly targeted for predatory mortgage loans.

Among the key provisions, the Homeowner Protection Act: -- Requires mortgage brokers and mortgage lenders to assess the borrowers’ ability to repay the loan, including the initial monthly payment and the higher balloon payment.

-- Holds the broker accountable to provide the borrower with the best loan.

-- Requires the borrower to be informed of changes in loan terms and provided with a copy of the appraisal, prior to closing.

-- Prohibits misleading statements implying a “low monthly payment” includes taxes and insurance.

According to the Center for Responsible Lending, 20% of Illinois homeowners with sub-prime mortgage loans were forced into foreclosure in 2006. Nationwide, over 7 million families hold sub-prime mortgages, with nearly 15% in default. AARP has over 1.7 million members in Illinois. AARP is a nonprofit, nonpartisan membership organization dedicated to making life better for people 50 and over.

We provide information and resources; offer a wide range of unique benefits, special products, and services for our members. These include AARP engage in legislative, regulatory and legal advocacy; assist members in serving their communities; and The Magazine, published bimonthly; AARP Bulletin, our monthly newspaper; Segunda Juventud, our quarterly newspaper in Spanish; Live and Learn, our quarterly newsletter for National Retired Teachers Association members; and our web site, www.aarp.org. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

CONTACT David Irwin (312) 458-3621

Tuesday, November 06, 2007

Aprende Real Estate En Español

Escuela ofrece el primer video de repaso por Internet para la porción nacional del examen de bienes raíces en los Estados Unidos

Tape Ed Real Estate School ofrece ahora un curso en español por Internet que ayuda a aumentar la posibilidad a los estudiantes de habla hispana de pasar el examen en el primer intento

Seattle, WA--(HISPANIC PR WIRE)--24 de septiembre de 2007--Ahora los estudiantes de habla hispana pueden estudiar para la porción nacional del examen de bienes raíces en su propio idioma. Tape Ed Real Estate School/realestateschool.org se ha asociado con el Corredor, Eddie Quintero, a crear un curso de repaso de 3 horas en español que cubre todos los aspectos del curso de la porción nacional del examen del bienes raíces.

El curso incluye estrategias, preguntas de la práctica, y un diccionario de 487 palabras de ingles-español. El video puede verse en el Internet por http://www.realestateschool.org Nacido en Venezuela, la experiencia de 16 años de Eddie como agente de bienes raíces son evidentes cuando él enseña al espectador conceptos como el uso de la tierra y sus restricciones, administración de propiedad, ley de igualdad en la vivienda, financiamiento y mas.

“Cuando una persona de habla hispana estudia en su propio idioma, aumenta el entendimiento y comprensión de los conceptos” dice a Eddie. “Nuestra meta es ayudar a los estudiantes de pre-licencia de corredor a pasar el examen Nacional.

Nosotros estamos muy agradecidos en asociarnos con Eddie para proveer un curso de la porción nacional del examen de bienes raíces a la Comunidad hispana,” dice Don Gorman, dueño de Tape Ed Real Estate School/realestateschool.org Nuestros cursos de preparación en español e ingles, con expertos en la materia de bienes raíces por video en Internet han puesto una nueva norma para la preparación del examen de licencia.

En 1983 Tape Ed Real Estate School se estableció como la primera escuela de educación a distancia en el Estado de Washington. Nuestra misión es proporcionar una educación de bienes raíces de alta calidad a nuestros estudiantes a un precio económico. Nuestros cursos están disponibles en el Internet, en vivo, en libro-texto o en formato auditivo.

Tape Ed/realestateschool.org provee una gran selección de cursos requeridos por la ley (clock hours) y cursos de repaso para el examen de bienes raíces en todo el país. Para más información por favor contacte a linda@realestateschool.org o llame al teléfono 800-574-6225.

Real Estate Latino.com

Real Estate Latino.com
Changing face of a neighborhood
Were Latinos left in the dark about thorium contamination?
By Rupa Shenoy Daily Herald Staff
Published: 11/4/2007 11:48 PM

Whites flee radioactive cleanup site, replaced by Hispanics. And all say they were left in the dark about thorium problem that's plagued the area for decades.
In the 17 years since she moved to her West Chicago home and raised three children, no one told Olivia Reza that much of her neighborhood had been excavated to remove cancer-causing radioactive thorium.

"It worries us," Reza said in Spanish. "We wouldn't have moved here if we knew."
The same response is echoed by dozens of people living near the shuttered Kerr-McGee factory, many of whom these days are Latino.

They say no one explained that, during ongoing cleanups that began in the 1980s, the site has been used as a temporary holding facility for contaminated dirt.
No one told them that studies have shown elevated cancer rates in the area.
"We've never been told anything," said Cecilia Sandoval, who bought her house in the neighborhood two years ago. "No one said anything then, and they haven't said anything recently."

Since 1980, when residents first began lobbying for a thorium cleanup, whites have left the neighborhood in droves; slightly more than half as many people now live there. At the same time, though, the number of Latinos has almost doubled, a Daily Herald analysis of data from the U.S. Census Bureau shows.
The number of whites has dropped from 8,947 to 2,988. At the same time, the Hispanic population has increased from 1,661 to 2,969.

It's unclear whether Hispanics specifically were kept in the dark about the neighborhood's history. Some say it's simply a poor area to which low-income Hispanics have gravitated.

But white people, too, say they weren't informed about the neighborhood's past. And, an agreement among federal, state and city officials calls for non-disclosure of the thorium on deeds. That agreement was aimed at protecting property values from the stigma of a thorium label once the sites had been cleaned up.

Either way, Latinos are now clustered in one of the most toxic areas in West Chicago, an example of what some experts call classic environmental racism.
Full disclosure
Soon after her family bought their home in 2003 near the former Kerr-McGee plant, Maria Salazar commented to a neighbor on how nice her new backyard and porch looked.
"She said, 'Maria, don't you know?'" Salazar recalled. The neighbor told her that her entire yard and back porch had to be dug up to remove thorium.

Salazar called the agent who had sold her the home, former Illinois House Speaker Lee Daniels of Elmhurst, who now owns a real estate company.

"I said, 'Why didn't you tell me? Weren't you supposed to?' I was upset. I have small children," she recalled. "He said he didn't have to."
Daniels did not respond to several requests for comment.
Daniel Bluthardt, director of the Illinois Division of Professional Regulation, which certifies Realtors, said

Friday, November 02, 2007

RealEstateLatino.com Launches Updated Educational Website

RealEstateLatino.com becomes and instrumental component in educating the Latino underserved community by releasing the most comprehensive and educational Spanish language website available. Bill Arce, Founder and CEO of RealEstateLatino.com, recently announced his exponential growth continued, with corporate support from such entities as Fidelity National Financial and RED Key Internacional, LLC of Orlando, FL.

Orlando, FL, September 29, 2007 Education remains a major barrier to Latino homeownership.RealEstateLatino, LLC, one of the nation’s leading real estate resources for the Latino community, announced today the launch of its updated Spanish web portal, RealEstateLatino.com.

The website, found at www.RealEstateLatino.com, is part of the company’s online real estate education and resource initiatives to help raise home-ownership rates for the underserved Latino community.

Launched in 2004, RealEstateLatino.com has quickly become the online source for consumers in need of real estate information and other industry resources. According to eMarketer, there were 15.7 million Hispanic internet users in the United States in 2005, rising to 16.7 million in 2006. The number of users is expected to grow by 33 percent over the next five years, reaching 20.9 million in 2010. “As a result of this fast-growing market segment, RealEstateLatino.com has implemented in its new version a combination of a more user-friendly, easy-to-navigate interface, with direct access to industry news and information, resources, a Realtor directory, and information on foreclosure prevention and predatory lending,” said William R. Arce, founder of Real Estate Latino, LLC and President of the Jacksonville Chapter of the National Association of Hispanic Real Estate Professionals.

Arce considers one of RealEstateLatino.com’s greatest accomplishments as bringing together organizations, companies and professionals in one online marketplace that are committed to assisting Latino home buyers, especially first-time home buyers who depend heavily on a trusted advisor to successfully purchase their dream home. “My goal, as an immigrant myself, is to continue assisting fellow Latinos in creating more wealth through real property ownership,” Arce stated.

“The recent sub prime loan crisis reminds us how important it is to educate and reach out to consumers, particularly the traditionally underserved and immigrant communities,” said Pablo Wong, Senior Vice President for Market Development for Fidelity National Financial (FNF). FNF is one of the nation's largest title insurance companies through its title insurance underwriters - Chicago Title, Fidelity National Title, Ticor Title, Security Union Title and Alamo Title. Through title education and its national network of Spanish-speaking closers, FNF is hoping to help RealEstateLatino.com assist home buyers overcome the barriers to homeownership.

About RealEstateLatino.com:

RealEstateLatino.com, based in Jacksonville, Fla., is the nation’s leading provider of real estate resource and information with the mission of increasing homeownership opportunities within the Latino community. Launched in 2004, RealEstateLatino.com was founded by William R. Arce to answer Latinos real estate concerns about purchasing homes. The future is only brighter for their Hispanic real estate community, as RealEstateLatino.com partners with such entities as Fidelity National Financial and RED Key Internacional, LLC - a national consulting and educational research firm - to make it the premier source of real estate information nationally and internationally.
For more information please visit, www.realestatelatino.com.
Media Contact:
Bill Arce(904) 415-2755
Bill.arce@realestatelatino.com

Cuatro razones por las que 2016 será el año para comprar casa en Estados Unidos

(CNNMoney) -  Si has estado renuente a comprar una casa, 2016 es el año para dar el paso, al menos en el mercado estadounidense. Las ta...