HUD Secretary's Opportunity and Empowerment Award Application

The Department of Housing and Urban Development and the American Planning Association (APA) have announced the criteria for the 13th annual HUD Secretary's Opportunity and Empowerment Award.

The award is part of the APA's 2010 National Awards Program, for which winners will be announced at APA's National Planning Conference in New Orleans, Louisiana on April 10-14, 2010.

The award honors excellence in community planning that has led to measurable benefits in terms of increased economic employment, education, or housing choice or mobility for low- and moderate-income residents. The emphasis of the award is on how creative housing, economic development, and private investments have been used in or with a comprehensive community development plan to produce tangible results.

Entries must be submitted online through the American Planning Association website at www.planning.org/awards/. The online application form will be available beginning June 30, 2009; the deadline for completed submissions is September 9, 2009.

The criteria, submission information, and requirements for this competition are currently available on HUD USER at www.huduser.org/research/APA10_AwardApp.pdf. APA Public Affairs Associate Roberta Rewers can be contacted by phone at 312-786-6395 or via email at rrewers@planning.org for additional information.

Esperanza Addresses the Real Estate and Mortgage Crisis During The State of Hispanic Housing Dinner

The dinner will focus on the state of Hispanic housing in the United States and will highlight the specific issues that affect the Latino community. Mr. Kenneth D. Wade, CEO, NeighborWorks America, will speak to the challenges regarding the foreclosure crisis and will identify strategies for confronting the crisis as it relates to the Hispanic community.

Mr. Ira Goldstein, Director, Policy and Information Services for The Reinvestment Fund, will also speak during the dinner. He will present a study he was commissioned to conduct by the Federal Home Loan Bank of Pittsburgh identifying the impact of the current real estate and mortgage markets on the Hispanic population.

Congressman Mario Diaz Balart (R-FL) will address the audience, as well, and will express his support of and commitment to Latino homeownership as a facet of the American Dream that should be achievable for every American.

The hope is that as Hispanic clergy become more informed of the depth and breadth of the housing crisis and the approaches necessary to navigate the system successfully, they can serve as conduits to their church congregants who are experiencing the direct impact of the housing dilemma, as well as be able to affect public policy and drive a movement for just legislation.

Immediately following the State of Hispanic Housing Dinner, three-time Latin Grammy Award winner, Marcos Witt, will be speaking during the Church Leadership Plenary where he will be discussing, in an open forum, how church leaders can address a community in crisis.

Renowned Christian singers Ingrid Rosario and ARPA Award winner, Julissa will lend their voices and perform during both the State of Hispanic Housing Dinner and the Church Leadership Plenary.

"Many Hispanics are losing or are in danger of losing their homes," stated Reverend Luis Cortes, Jr., President and Founder of Esperanza. "Esperanza is one of only a handful of Hispanic groups addressing this issue and we are hopeful we can get other Latinos to join us."

The Reverend Luis Cortes, Jr. is president of Esperanza, the largest Hispanic faith-based Evangelical network in the United Sates. With a national network of more than 12,000 churches, ministries, and community organizations, Esperanza is one of the leading voices for Hispanics in America.

For more information, go to www.esperanza.us.

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NAHREP Inland Empire presents Seven City Tour: RESULTS Driven Marketing for REALTORS!

NAHREP Inland Empire presents Seven City Tour: RESULTS Driven Marketing for REALTORS!

"Monday, June 29, 2009 / 8:30 am - 4:00 pmInland Valley Association of REALTORS®, 3690 Elizabeth St. Riverside CA 92506One stimulating day.Six top producer trainers.One Hundred Top Producers.Seven Ways to improve YOUR Business NOW!

1. Develop personal sales skills to go beyond a first impression to a lasting relationship.

2. Increase your energy output when you need it most.

3. Overcome economic and mental obstacles.

4. Know key funding programs to attract and retain buyers.

5. Learn how to use technology that is making the Realtor business soar!6. Use "Big Business" strategies at your disposal as a "little guy."

7. Implement just one strategy from this training and generate at least one new deal in the next 30 days!

This one day training will give you the keys to guide you through this economy:Generate more leadsIncrease referralsSet more appointmentsClose more salesSimply make more money!

Register on-line at www.SevenCityTour.com Use Promo Code RLPRO
$20 Tuition per Person Includes:- Marketing Stimulus Training Manuel for Realtors®- "The Two Minute Networker" by Author and Sales Trainer Rhonda Sher- Continental Breakfast- LunchInvest one day in yourself and create your own market! Look for additional Seven City Tour dates and locations throughout the Inland Empire in Corona, Moreno Valley, Rancho Cucamonga, Riverside, San Dimas, Temecula and Victorville/Hesperia!

Visit http://www.sevencitytour.com/ for details on speakers, topics, agenda and to register!NAHREP Inland Empire Chapter.

Bringing stimulating marketing solutions to real estate practitioners.

Sponsorship available.Contact:Event Co-chair: Gil Pacheco, President @ (909) 235-1728 Joe Michel, Board Member @ (951) 818-8719

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NAR President Addressed Members of Dallas-Fort Worth NAHREP Chapter

Leader of National Association of Realtors sounds an optimistic note.

By SANDRA BAKER
sabaker@star-telegram.com

The dream of homeownership is alive and well in the U.S., the president of the nation’s largest real estate trade association recently told a professional group in Fort Worth.

"That’s pretty remarkable considering what’s happened to home prices and sales this year," said Charles McMillan, who this year is leading the 1.1 million-member National Association of Realtors.

McMillan got his start in real estate in Fort
Worth in 1983. He was the Greater Fort Worth Association of Realtors’ 1992 Realtor of the Year and the 2000 Texas Realtor of the Year.

He’s now director of realty relations and broker of record with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. He returned to his home turf Friday to speak to the Dallas-Fort Worth Chapter of the National Association of Hispanic Real Estate Professionals.

He told the group that consumers want back in the market on two conditions: They can get a home for a good price and financing at an affordable rate.
"With so many distressed properties for sale, it’s not difficult to find a bargain.

However, some might say that we communicated our message too well because now we have so many buyers who have unrealistic low-price expectations for all homes. They have the feeling that all sellers are distressed sellers and they’re not." Read Full Article Here!

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Struggling Latino CU in Phoenix Merges

Jim Rubenstein
The $3.5 million Chicanos Por La Causa Federal Credit Union of Phoenix has become the latest victim of the Arizona economy, formally merged this month into its Latino rival, the $27 million Marisol FCU.

“Conditions could not have been much worse for a credit union whose members are involved in real estate construction and related fields,” said Robin Romano, president/CEO of Marisol and who since last July has been serving as interim manager for the struggling Chicanos Por La Causa.

The CU was founded by a Phoenix-based Latino nonprofit group and is a member of the National Federation of Community Development Credit Unions. Read More Here.

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Just Released: U.S. Housing Market Conditions, First Quarter 2009

HUD's Office of Policy Development and Research has released U.S. Housing Market Conditions for the first quarter of 2009. The report contains a quarterly analysis of housing production, marketing, affordability and interest rates, and the multifamily housing sector.

The data are compared to both the previous quarter and the first quarter of 2008. This issue also presents updated national data, overviews of economic and housing market trends within each HUD region, and reviews historical trends in national and regional housing markets.

The feature article highlights an update of the Low-Income Housing Tax Credit (LIHTC) Database, which now includes LIHTC- financed projects placed in service through 2006. In-depth, housing market profiles explore the following areas: Atlanta-Sandy Springs-Marietta, Georgia; Denver-Aurora-Boulder, Colorado; Midland- Odessa, Texas, Nashville-Davidson-Murfreesboro- Franklin, Tennessee; Phoenix, Arizona; Rochester, New York, Sacramento-Arden-Arcade-Roseville, California; and Tulsa, Oklahoma.

This and previous U.S. Housing Market Conditions reports are available online and can be downloaded for free at www.huduser.org/periodicals/ushmc.html.

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The nation’s mayors address growing need for affordable housing

Here is a great article about Affordable Housing, how this economy is impacting it and what are some mayors doing to maintain a positive flow of affordable housing.

Read This Article Here: http://www.housingfinance.com/ahf/articles/2009/june/0609-specialfocus-The-View-from-City-Hall.htm

FREDDIE MAC MODIFIES RELIEF REFINANCE MORTGAGES

Changes Provide Broader Availability for Borrowers, More Flexibility for Closing Costs


McLean, VA -- In a move aimed at furthering the success of President Obama’s Making Home Affordable Program, Freddie Mac (NYSE: FRE) today announced several changes to its refinance offering under the program. Freddie Mac’s Relief Refinance Mortgage is designed to assist borrowers who are current on their mortgage payments but who would benefit from refinancing into mortgages with terms that better position them for long-term homeownership.

Once these changes are available, borrowers will be able to refinance a Freddie Mac-owned or guaranteed mortgage with any lender affiliated with Freddie Mac. Previously, borrowers had to work with the lender who currently services their mortgage. In addition, to help reach more borrowers, Freddie Mac is increasing the amount of closing costs that can be rolled into the new refinance mortgage.

“We are responding to consumers’ desires to have more refinancing options,” said Freddie Mac Executive Vice President Don Bisenius. “As an added benefit, we are expanding the program and providing greater flexibility in financing closing costs. Freddie Mac is committed to doing everything we can to bring the benefits of the Administration’s Making Home Affordable program to as many borrowers as possible.”

Borrowers can continue to work with their existing servicer to refinance their mortgage. In the vast majority of these cases, the current servicer will not have to re-underwrite the borrower. If the borrower chooses to work with another Freddie Mac-affiliated lender, the mortgage will need to be re-underwritten.

Freddie Mac will allow the lesser of 4 percent of the new refinance mortgage amount or $5,000 of closing costs, financing costs and prepaids/escrows to be rolled into the new refinance mortgage.

Freddie Mac’s standard postsettlement delivery fees, up to a maximum of 2 percent, will apply to the Relief Refinance Program.

Borrowers should visit www.freddiemac.com/corporate/ and complete the online form to determine if Freddie Mac owns their mortgage.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

Using First-Time Homebuyer Tax Credits

The American Recovery and Reinvestment Act of 2009 (Recovery Act) provides for as much as an $8000 tax credit to qualified first-time homebuyers. FHA supports this important initiative to promote homeownership…

To read this mortgagee letter & any attachments in their entirety, please visit: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/ view the 2009 letters & click on the letter of your choice. Mortgagee Letters from previous years can be found on the same page.

RE/MAX Adds Brazil to International Roster

RISMEDIA, June 3, 2009-RE/MAX International Inc., recently welcomed the Federative Republic of Brazil to its expanding list of international regions. Four region owners, who originate from Brazil and Portugal, have purchased master franchise rights for RE/MAX Brazil and plan to open offices throughout the largest country in South America.

In 2008, RE/MAX sold more than 700 franchises and surpassed the 70 country milestone, an international presence greater than any of its competitors. Brazil is only the eighth country to join the RE/MAX Network in the last six months, preceded by Albania, Bahamas, Ecuador, India, Macedonia, Singapore and Uruguay.

“Brazil is a country of great international stature because of its economic viability and we’re thrilled to have a presence there,” said William Soteroff, senior vice president of International Development at RE/MAX International. “The new region owners have a vision to use the RE/MAX Network to bring a new level of professionalism and education to the real estate industry. Brazilians will certainly benefit from an internationally-recognized name brand with a reputation for outstanding customer service.”

RE/MAX Brazil Region Owners Luis Juliao, Jose Luiz Monteis, Renato Teixeira and Paolo Toledo average more than 20 years of real estate experience and have been operating an independent firm in Brazil with more than 800 agents.

Full story: http://rismedia.com/2009-06-02/remax-adds-brazil-to-international-roster/

Long Island homeowners are warned about foreclosure rescue ‘scams”

With an increased in foreclosures federal officials in Long Island, NY announced back in April that the FTC is cracking down on companies that promise to modify loans who are in default for a fee. Some homeowners still are facing foreclosure after trying to do workouts thru some of these companies. Read the full article here.