Wednesday, December 23, 2009

NHORA Members Successfully Completed REO Certification Course




NHORA Membership opportunities are open to industry professionals and leaders in Housing, Banking, Ancillary Service Providers and housing related Business Owners with chapters scheduled nationwide. Learn More @

Monday, December 21, 2009

Como Comprar Una Propiedad Al Banco (REOs)

REO en términos simples (Wells Fargo Home Mortgage)

¿Qué es una propiedad REO en resumidas cuentas? ¿En qué se diferencia del proceso de compra típico? Cuando analice una propiedad REO - al igual que todas las propiedades - es importante que esté bien informado, de modo que conozca muy bien el proceso, desde el primer saludo hasta el momento del cierre.

P. ¿Qué significan las siglas REO?

R. REO es el acrónimo del término inglés "Real Estate Owned" o propiedades embargadas tras juicio hipotecario. REO es un término de la industria financiera que hace referencia a las propiedades que una institución ha ejecutado y que ahora le corresponden.

P. Si presento una oferta directamente en lugar de hacerlo a través del agente registrado, ¿Premiere Asset Services aceptará un precio menor?

R. Sólo aceptaremos ofertas presentadas a través de agentes registrados. Realizamos la valoración de nuestras propiedades de conformidad con el mercado local y asumimos que las venderemos al valor justo del mercado. Al igual que con cualquier listado de propiedades, el precio solicitado está basado en su condición frente al mercado local.

P. Luego de presentar la oferta, ¿cuánto demora una respuesta normalmente?

R. En el término de 48 horas a partir de la recepción de la oferta de nuestro agente registrado, aceptaremos la oferta o le presentaremos una contraoferta. El agente registrado le comunicará nuestra respuesta al agente del comprador, en el caso de que usted esté trabajando con un agente por separado, o a usted directamente. Si la oferta es presentada durante un fin de semana, la analizaremos al siguiente día hábil.

P. ¿Qué sucede si la propiedad requiere reparaciones, ya sean menores o considerables?

R. Asegúrese de hablar con el agente registrado para confirmar que usted entiende claramente los términos de nuestro listado. En la mayoría de los casos, la propiedad será ofrecida "tal como está" y su condición estará reflejada en el precio de lista. Cuando compre una propiedad "tal como está", asegúrese de realizar un estudio para comprender claramente en qué condición estructural y mecánica se encuentra la propiedad; los sistemas de calefacción, ventilación y aire acondicionado; las cañerías internas; el pozo y el sistema séptico. Es posible que el estado de estos componentes de la casa influya en los tipos de financiamiento disponibles. No obstante, existen préstamos especiales disponibles que permiten obtener préstamos sobre el valor de la casa tras las mejoras. Estas opciones le permiten comprar una casa sumamente venida a menos y convertirla en la casa de sus sueños. Para obtener más información, visite Recursos para la compra de una casa.

Friday, December 18, 2009

Pew Data on Five Largest Latino Populations in U.S.

If you haven't decide whether or not target the Latino market in the USA, here is some stas that will help you decide.

•Mexicans make up over two-thirds of the U.S. Hispanic population, with four in ten living in California.

•The number of Puerto Ricans living in the U.S. and DC is higher (4.1 million) than those living in Puerto Rico (3.9 million), and are the second largest population of Hispanic origin residing in the U.S.

•The share of Cubans who live in poverty (12.3) is much closer to the percentage of the overall U.S. population (11.9%) and below the share among all Hispanics (19.5%).

•Six in ten Dominicans in the U.S. are foreign born, and eight out of ten live in the Northeast.

Tuesday, December 15, 2009

More Hispanics Buying Homes

Sioux Falls' Hispanic community is flexing its financial muscle in the real estate market. Breaking down language barriers is opening up more housing opportunities for immigrant families.

Sioux Falls real estate agent Freddie Contreras has seen the number of his Hispanic clients grow from zero to forty percent in the past year.

"That process is growing, I'm marketing more to them," Contreras said.

It helps that Contreras, of Mexican descent, speaks the language. He often has to translate the housing paperwork line-by-line for his Hispanic customers looking to buy a home. To Contreras, trust is just as important as what's in the fine print.

"You do build a good relationship with them, almost as a family they're, a second family for yourself, because there is a huge trust factor that you're not saying something that's not on the documents," Contreras said.

Many immigrants are often reluctant to buy a home on credit. They come from a culture where paying cash up front is the only way to do business.

"So for them to translate that now over here to ok, maybe I should owe something so that they will let me borrow something is difficult for them sometimes to comprehend," Contreras said.

As real estate companies and banks offer more bilingual support, Hispanic families are responding by purchasing both start-up and move-up homes; proving that pride in ownership crosses all cultural and language barriers.

This September, Contreras took part in a home buying seminar for Hispanic immigrants sponsored by the Sioux Falls Spanish Speaking Community Association. Four families who attended the seminar are in the process of closing on homes.

Perry Groten
© 2009 KELOLAND TV. All Rights Reserved.

San Francisco Bay Area home prices inch toward stability with fewer foreclosure sales

Home prices in the San Francisco Bay Area registered year-over-year gains last month for the first time in nearly two years.

The gains marked a move back toward stability for the region’s real estate as fewer distressed properties were sold and homes costing more than $500,000 accounted for a larger portion of sales.

The median price paid for all homes reached $390,000, up 6.8% from $365,000 in September and up 4% from $375,000 in October 2008, according to MDA DataQuick of San Diego. The last time the nine-county area booked a year-over-year gain was in November 2007.

Last month’s median was the highest since hitting $395,000 in July this year. But the October median was still 41.4% below the $665,000 peak reached during the height of the Bay Area’s boom in June and July of 2007. The median is the point at which half the homes sold for more and half sold for less.

A total of 7,933 homes were sold last month, up 0.7% from 7,879 in September and 4.2% from 7,613 in October 2008. Sales in the region’s pricier areas – Marin, San Francisco, Santa Clara and San Mateo – made up 42.2% of October sales, up from 35.3% in October 2008.

Sales of homes that cost more than $500,000 constituted 36% of sales in October, up from 34.9% in October 2008 and well up from a low of 22.7% in January.

Last month’s increase in the median sales price also came as foreclosure properties made up a smaller portion of the resale market. Sales of homes that had been foreclosed upon in the prior 12 months made up 31.9% of all previously owned homes sold in October, DataQuick said.

That was down from 32.3% in September and 44% in October 2008. Foreclosure sales peaked at 52% of the resale market in February.

The drop in foreclosure sales came as banks and loan servicers increasingly pursued alternatives to the foreclosure process such as loan modifications and short sales -- where a lender agrees to sell a home for less than the value of a mortgage, DataQuick said.

-- Alejandro Lazo

Think-tank study finds foreclosure crisis hits blacks, Latinos hardest

By Deepti Hajela

The Associated Press

NEW YORK — African Americans and Latinos are at a disproportionate risk in the ongoing foreclosure crisis because they are more likely than whites to have higher-cost mortgage loans and face higher unemployment rates, a report says.

The new report from the San Antonio-based William C. Velasquez Institute called on the federal government to take steps, including reforming bankruptcy laws and expanding eligibility for mortgage modification, to help combat the crisis.

"If nothing is done, then the foreclosures will continue disproportionately hitting blacks and Latinos," said UCLA professor Raul Hinojosa, the study's author.

Hinojosa said continued foreclosures could wipe out billions of dollars in home equity amassed in those communities, and that even owners who kept their homes would be affected by lower property values in foreclosure-riddled neighborhoods.

"Not only are you wiping out this generation of black and Latino families," he said, "but those neighborhoods go into serious decline."

Jose Calderon, vice president of programs and policy for the Hispanic Federation, said the foreclosures carried a far-reaching impact.

"The social cohesion of our communities is being destroyed," he said.

Unemployment is now the primary force behind foreclosures. Borrowers are struggling with no income and lenders are having a harder time reworking troubled loans.

Blacks and Latinos suffer in comparison to whites both in unemployment rates and having loans with higher interest rates.

The nationwide unemployment rate is 10.2 percent. For blacks, it's 15.7 percent and for Latinos, 13.1 percent.

The report said that in regions across the country, blacks and Latinos were anywhere from two to nine times as likely as whites to have high-cost mortgages.

The William C. Velasquez Institute is a nonpartisan think tank that studies Hispanic issues.

Guia de Bienes Raices de Tampa, FL

Bienvenidos a la Guia de Bienes Raices de Tampa, FL

Mas que solo una ciudad grande con toda la sofisticacion, cultura, industria y los servicios que eso implica, Tampa tambion es el lugar para las vacaciones familiares y los encuentros de tipo natural. Localizada en la ensenada mos grande de Florida, Tampa Bay, la cual la separa de St. Petersburg su ciudad hermana, tiene bastante historia maritima pasada y presente. Con su posicion estrategica empezo como un fuerte de Guerra Seminole, posteriormente su acceso rapido al Golfo de Mexico y el puerto profundo trajeron la fabricacion de cigarros y preparaciones para la guerra hispanoamericana a la ciudad.

Para una lista completa de recursos locales en Tampa, visiten

¡Antes De Comprar Tu Casa Infórmate! Guia Para Compradores!

Aprende todo el proceso de comprar una casa al descargar la Guía Completa De Bienes Raíces como parte de la campaña educativa de Esta es una guía completa con mucha información actualizada y que en verdad beneficia al comprador Latino. Explica el proceso de prestamos, pasos a tomar antes de trabajar con un Realtor, los tipos de prestamos que más te conviene y como si esto fuera poco también incluimos información para mejorar tu crédito gratuitamente y así poder recibir las mejores tazas de interés en el mercado.

Para descargar una copia gratis de la Guía haga un click aqui!

Friday, December 11, 2009


FOR IMMEDIATE RELEASE Contact: Ginny Walthour, (904) 630-2518

Foreclosure Task Force Applauds Initiatives and Monetary Donations

JACKSONVILLE, Fla., Dec. 10, 2009 – City Council Member Kevin Hyde joined members of the Jacksonville Foreclosure Task Force today to recognize the foreclosure efforts and monetary donations that local banks, Regions Bank, Wachovia/Wells Fargo and EverBank, have contributed to the City of Jacksonville’s marketing efforts in foreclosure prevention. Together, the three banks have donated $35,000 to assist the city with their efforts to reach homeowners in need to prevent foreclosure.

According to the Duval County Clerk of Courts, from January to September, more than 10,770 lis pendens notices were filed. Jacksonville recently posted a 64 percent foreclosure rate – one of the highest in the country, according to RealtyTrac.

Council Member Hyde was instrumental in creating the Jacksonville Foreclosure Task Force whose responsibility is to make recommendations to the mayor, city council and the Housing & Neighborhoods Department for further action in preventing foreclosure and providing assistance and relief to those facing or subject to foreclosure. Michael Boylan, president of WJCT, chairs the task force which is composed of nine members with considerable experience in banking, consumer law, marketing, housing, credit counseling, social service or other fields that provide a unique and substantial insight into foreclosure prevention, assistance and relief.

“The primary goal of the task force is to ensure that homeowners facing financial difficulty can fully explore ways to stay in their home. The task force, in an innovative partnership with the private sector and the city’s Housing & Neighborhoods Department, continues to distribute information and develop ideas to assist homeowners in need,” said Council Member Hyde. “I would especially like to express my appreciation to the local banks— Regions, Wachovia/Wells Fargo and EverBank—for their continued financial support in helping to achieve these goals.”

Through its extensive community efforts and programs such as the Stay Home Web program Web site on and the Facing the Mortgage Crisis initiative with WJCT, the city has been able to provide resources to connect those homeowners who may face or are facing foreclosure with the appropriate agencies for assistance. The Housing & Neighborhoods Department has mailed more than 2,260 informational packets to homeowners who have received lis pendens notices and anticipates reaching more than 5,000 families in the upcoming months as more notices are filed.

“The key to success for homeowners in trouble is to get assistance as early as possible. I was pleased to help lead the fundraising efforts with the local banks to raise the necessary monies to assist the city in reaching homeowners in need,” said Regions Bank President Marty Lanahan. “Prevention of foreclosures starts with educating homeowners about managing credit and the pitfalls of predatory lenders and the informational resources provided by the city are well-equipped to help our homeowners.”

More information about the city’s foreclosure programs can be found at

Friday, November 20, 2009

NAHREP: FHA’s Expanded Role Vital to Housing Market, Economy

Hispanic Real Estate Trade Group Appeals to Congress To Support FHA’s Continued Expanded Role

11.17.2009 – SAN DIEGO -- The National Association of Hispanic Real Estate Professionals (NAHREP) issued an appeal to members of Congress this week for its support of the Federal Housing Administration’s efforts to strengthen the housing market, calling it the only real vehicle for working families to buy homes. NAHREP joined other real estate and housing groups in a joint letter issued to members of the U.S. House and Senate.

“FHA has filled an enormously important void in today’s challenging mortgage market. Without FHA, working families would be unable to buy homes,” said Tino Diaz, NAHREP’s chairman. “FHA is vital to the homeownership dreams of millions of Americans. Their ability to buy has a direct impact on our nation’s economy.”

Hispanic real estate professionals support FHA’s expanded role and the efforts taken by the agency’s leadership to manage risk. NAHREP also favors giving the agency the tools, staffing and technology it needs to be effective in its enhanced role in the current market. For Latino borrowers, FHA is a critical source of mortgage insurance accounting for nearly 50 percent of their 2008 home purchase loans.

The letter-writing outreach to members of Congress is to voice minority concerns about possible changes or restrictions to the FHA program that would, in turn, inhibit the nation’s economic recovery and virtually shut out Latinos and working families from the housing market.

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in San Diego, NAHREP is the premier trade organization for Hispanics and has more than 16,000 members in 48 states and 62 affiliate chapters.

Thursday, November 19, 2009

Press Release- Fidelity National Financial Goes Greener

For Immediate Release

Fidelity National Financial joins America Recycles Day by establishing a Green Title & Settlement Program

San Francisco, California – November 16, 2009 - Fidelity National Financial, Inc. (NYSE:FNF), one of the nation's largest title insurance companies through its title insurance underwriters - Chicago Title, Fidelity National Title, Ticor Title, Security Union Title, Lawyers Title, Commonwealth Title and Alamo Title - today announced an enhanced effort to implement energy saving and environmentally friendly policies. The FNF Green Title & Settlement Program (GTSP) will be initially launched in Northern California and the Pacific Northwest.

“The public is more aware of the need to protect our environment, and consumers are increasingly supporting sustainability measures in their homes and businesses. We want them to know that FNF stands behind the importance of this initiative, and with our leadership in this program we are raising the bar within our family of company’s and our industry,” said Jeff Knudson, Executive Vice President of the Fidelity National Title Group. Recently, FNF announced that quarterly statements for the Group 401(k) Profit Sharing Plan and FNF Employee Stock Purchase Plan quarterly statements will no longer be mailed to employees at home but will be available online.

The GTSP encourages the use of state of the art technology that is available to both customers and FNTG title offices. In addition to the use of the latest technology, title offices will implement more aggressive and comprehensive policies that are environmentally friendly and will develop online information to inform employees and members of the public on best practices that better protect our natural resources. “Our goal is to expand sustainability practices and to play a bigger role in protecting our natural resources,” said Pablo Wong, senior vice president for market development and project leader for this program.

About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. (NYSE: FNF), is a leading provider of title insurance, specialty insurance and claims management services. FNF is one of the nation's largest title insurance companies through its title insurance underwriters - Alamo Title, Commonwealth Title, Fidelity National Title, Chicago Title, Lawyers Title, Security Union Title and Ticor Title - that issue approximately 28 percent of all title insurance policies in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. More information about FNF can be found at

Pablo Wong

Wednesday, November 18, 2009

Announcing the launch of NHORA (National Hispanic Organization of Real Estate Associates)


Contact: Richard Gonzalez or Margie O’Campo de Castillo
TEL: 800-75 NHORA Email:

Real Estate Professionals organize trade association to elevate professional standards and promote commerce with sustainable home ownership in the Latino community.

(San Diego, Ca. November 14, 2009) In response to the need for consumer education and community outreach, Hispanic Leaders in Arizona, California, Florida, Illinois, and Texas announce the launch of NHORA tm, the National Hispanic Organization of Real Estate Associates at Booth #3309 of the
NAR Convention in San Diego California November 15-16, 2009 with specially developed founding membership levels to mark the NHORA inaugural year.

NHORA National Board Member, Richard Gonzalez of California says “Our communities need an organization whose values are more than words in a mission statement. They need organized leadership and membership that exemplifies the care and well being of community in all financial affairs, especially housing”.

NHORA National Board Member, Margie O’Campo de Castillo of Arizona adds “ Our trade association is made up of democratically elected, seasoned industry leaders that are well known for their commitment to elevating the standard of service by providing valuable and timely information and educational forums for community outreach to ethical professionals in the mentoring of local, regional, and national leadership. NHORA members will act as one body in the advocacy of necessary changes within the Hispanic community with the strength of professional affinity membership”.

The impact of the current economic market has had a disproportionally higher negative impact on Hispanic communities. NHORA has been created to help thwart this kind of damage in our communities and further educate and empower ethical professionals and the consumers they serve.

National Board Member, Jorge Carcamo of San Francisco states “Our vision is to promote a true democratic trade association within the context of a membership based organization of ethical professionals primarily engaged in facilitating sustainable home ownership and commerce building opportunities with affinity professionals for the benefit of the communities they serve with complete transparency”.

The NHORA National Founding Board of Directors and Advisory Board of distinguished professionals including Hilda Ramirez, Miguel Velazco, and Patricia Lindo are currently developing NHORA Chapters in the states of Arizona, Northern and Southern California, Illinois, Florida, and Texas hosting various business developments and networking seminars beginning in the fall of 2009 into 2010 and beyond.

NHORA Membership opportunities are open to industry professionals and leaders in Housing, Banking, Ancillary Service Providers and housing related Business Owners with chapters scheduled nationwide.

Friday, October 16, 2009

FHA Commissioner Stevens to Address HUD's Role in Housing Recovery at AREAA/NAHREP Conference

FHA Commissioner Stevens to Address HUD's Role in Housing Recovery
Assistant Secretary of Housing and Federal Housing Commissioner for the U.S. Department of Housing and Urban Development, David Stevens, will speak at the opening general session of the AREAA/NAHREP Real Estate and Marketing Conference in Las Vegas on October 26th. In this role, Stevens is responsible for overseeing the $600 billion FHA mortgage insurance portfolio and HUD’s multifamily subsidized housing program. In addition, he oversees HUD's regulatory responsibilities in the areas of the Real Estate Settlement Procedures Act (RESPA), and the manufactured housing industry.

The event is the nation's single largest meeting of multicultural real estate professionals and will provide Commissioner Stevens an opportunity to discuss HUD's plans to increase homeownership opportunities for America's minority communities.

Other notable speakers include: Lloyd Frink, CEO of Zillow; Economists Lawrence Yun, National Association of Realtors; Eugenio Aleman, Wells Fargo; political consultant Howard Glaser; Barrett Burns, CEO of Vantage Score and senior executives from Fannie Mae, Freddie Mac, Bank of America, Chase and Wells Fargo.
View a complete list of speakers here

Be part of the discussion. Online registration expires October 20th
Register today

AREAA and NAHREP are non-profit professional trade organizations dedicated to promoting sustainable homeownership opportunities in underserved communities. Visit the organizations online at and

Tuesday, October 06, 2009

Popular Home Loan Programs For First Home Buyers

There are many times of financing options available to home buyers. Here are some of the most common mortgage products on the current real estate market: For more information or to apply for a mortgage visit.

Fixed Rate Mortgage
The interest rate on a fixed rate mortgage stays the same throughout the term of the loan, usually 15 or 30 years. This means the principal interest portion of your payment remains the same. Payments are stable but initial rates tend to be higher than adjustable rate loans and often cannot be assumed by a subsequent buyer.

FHA Loan
FHA does not lend money or make a loan; rather, it insures loans. The down payment can be as low as 3.5%. Either buyer or seller may pay discount points. FHA charges a 2.25% up front Mortgage Insurance Premium (or as little as 2% for a first time home buyer) that can be financed in the mortgage amount or paid in cash (no premium is required for condominiums). The borrower must also pay an annual Mortgage Insurance Premium or .5%, which is collected monthly.

VA Loan
The VA does not lend money; it guarantees a portion of the loan so that lenders who originate the loan feel comfortable with their risk. Qualified veterans can obtain loans with no down payment (Click Here For Local VA Mortgage Limit). VA-guaranteed loans can be combined with second mortgages and are assumable upon qualifying by any future buyer.

Saturday, October 03, 2009

Foreclosures Impact Latino Immigrant Communities

Here is an article addressing the currently foreclosure crisis and how is affecting the Latino community. Please share it.

KANSAS CITY, KS (kcur) - The foreclosure crisis has brought a particular set of issues to Latino immigrants in the Kansas City area. Because of language barriers and the lack of a credit history, many immigrants are vulnerable to predatory lenders. They haven't faced more foreclosures than other groups. But when they do have housing problems, there are a few places where they can turn for help.

Carmen and Luis Amiel came to Kansas City about three years ago to buy a house.

"Because I lived 16 years in California and could never buy a house," Luis Amiel says. "Because it was too expensive."

Luis Amiel is from Peru, originally, and Carmen Amiel is from Mexico, where she had studied architecture. They met in Los Angeles, married and had three children. But then Carmen heard from some relatives about the good housing market in Kansas City.

She says they were excited about possibility of a house, with space for their kids, decent schools, and a quiet neighborhood. Her family recommended a real estate agent.

He sold the Amiels a $60,000 house with many structural problems. He promised to fix them, but never did.

"Because they didn't have the knowledge," says Licha Ybarra, who runs a home ownership program at Harvest America, a non-profit agency based in Kansas City Kansas. "They didn't know what to do. They didn't know how to do it. They didn't know who to go to. They were not able to get anything done, period."

Earlier this year, the Amiels came to Harvest America looking for help, when Luis lost one of his two jobs, and they fell behind in their mortgage payments. In the past year, Licha Ybarra's office has gotten hundreds of calls for help with loan modifications, mainly from Latino immigrant families.

"Someone just found out about Harvest America," Ybarra says. "And then we had all these calls; so we had a high volume of, unfortunately, foreclosure cases."

For Ybarra, it's been a stunning turn of events. About 15 years ago, she helped found one of the first local home-buyer programs geared towards Spanish speakers.

"There was a boom," Ybarra says. "In their countries, you have to be rich to buy a house and when they found out that all they needed was between a three percent and five percent down-payment. It was just word of mouth!"

In the late 1990s, several banks saw this as an under-served market. They began translating mortgage applications into Spanish, and accepted taxpayer IDs for those who didn't have social security numbers.

"I have to tell you that most Latinos are ready," Ybarra says. They have their money saved up, they have their savings, they have great work history, great rent history.

Ybarra says if they don't have traditional credit, she and the banks will work with home-buyers to come up with an alternative. But without that help, immigrants were at the mercy of some unscrupulous lenders.

"So here they were signing all these documents, you know, paying all these high fees, interest rates, paying all this money to the broker, to the real estate agent. And you know what, a lot of Spanish-speaking brokers, and a lot of Spanish-speaking real estate agents sadly took advantage of their own people."

In the past year, Ybarra says she's been able to help most families with bad mortgages get loan modifications.

Now this doesn't mean that Latino immigrants have had more problems with foreclosures than others. Ann Murguia heads the Argentine Neighborhood Development Association. She's been tracking foreclosures throughout Wyandotte County, where she's also a Unified Government Commissioner.

"Based on my experience in Argentine," Murguia says, "The number of foreclosures with migrants is few and far between."

Murguia's observations coincide with a national report from the Pew Hispanic Center, which says the rate of homeownership among immigrant Latinos has stayed the same in the past couple of years. That's even while homeownership has dropped for US-born Latinos, African Americans and whites.

"Migrants typically don't over-extend themselves," Murguia says. "It's a very conservative population, and they try to live within their means."

Murguia says even in situations where families have been the victims of predatory schemes, many will just keep paying a large portion of their incomes on loans they'll probably never pay off. And that's for modest homes.

"People want to keep paying because they don't want to raise any attention to themselves. And I don't just say that because they're undocumented. They don't want to cause problems, they don't want to make waves, and so - they don't complain."

Back at Harvest America, Licha Ybarra says some of these same predatory lenders are now charging families to do loan modifications.

Ybarra tells the Amiels, "Don't trust someone just because they speak your language."

And as for them, Luis Amiel hasn't been able to find enough work here. So he's thinking about going back to California, while Carmen and the kids stay in Kansas City.

"How sad," Licha Ybarra says, "That they'll need to be separated just to keep paying for their home."

This story was produced for KC Currents.

Friday, October 02, 2009

Credit Woes to Threaten Housing Recovery?

Source: RISMEDIA, September 30, 2009—Nearly two-thirds of single-family home builders are reporting a severe lack of credit for housing production, threatening the fragile housing recovery before it has time to take hold, according to a new builder survey of acquisition, development and construction (AD&C) financing conducted by the National Association of Home Builders (NAHB).

“Across the country, home builders and developers are reporting a deterioration in credit availability and intensifying pressure on borrowers with outstanding loans,” said NAHB Chairman Joe Robson, a home builder from Tulsa, OK. “Lenders are cutting off loans for viable new housing projects and producing unnecessary foreclosures and losses on AD&C loans. With the pending expiration of the $8,000 first-time home buyer tax credit, these challenges threaten to halt any positive developments we have seen in the housing market in recent months.”

In the latest NAHB survey of AD&C financing conditions, 63% of builders stated that the availability of credit for single-family construction loans worsened in the second quarter of 2009.

Read more:

Tuesday, September 29, 2009

Hispanic Homeownership Dropped to 49.1%

Homeownership fell in '08; Asians hit worst
By ALEX VEIGA (AP) – Sep 21, 2009

LOS ANGELES — Asians, many of them living in foreclosure-ravaged California, suffered the sharpest drop in homeownership last year, eclipsing declines felt by whites, blacks and Hispanics, according to new Census data.

The decline was surprising, because Asians tend to earn more than other minority groups and have less debt. But one out of three Asian homeowners lives in California, which has seen foreclosure rates skyrocket and home values plummet since the housing bubble burst. And that appears to have disproportionately exposed them to the effects from the housing collapse, experts suggested.

The U.S. homeownership rate fell to 66.6 percent last year, the lowest in six years, after hitting a peak of 67.3 percent in 2006, according to figures from the American Community Survey, which was released Monday by the U.S. Census Bureau.

Homeownership for Asians fell 1.24 percentage points last year to 59.4 percent.

The decline was 0.88 percentage points for blacks to 45.6 percent. Hispanics experienced a similar decline, down 0.80 to 49.1 percent. Whites suffered the smallest decline, down 0.40 to 73.4 percent.

But because Asians only represent 3.3 percent of all U.S. homeowners, the decline in the number of black and white households was greater. The number of Hispanic homeowners actually rose, reflecting trends in immigration and higher birth rates.

Nevertheless, as a population group, Asian homeowners fared far worse than others.

That revelation surprised some experts such as Edward Wolff, an economist at New York University.

"Based on their income and relatively low debt, one would expect that they would have a smaller decline in homeownership," Wolff said.

The median annual household income for Asians was just over $70,000 last year, higher than for any other racial group.

"It's possible that it's a regional effect," Wolff suggested. "There's a high concentration of Asian-Americans in California, and California got particularly hard hit by property (price) declines and high foreclosure rates."

While foreclosures have been declining on a monthly basis in California this year, the state continues to have the most foreclosures in the country and one of the highest rates of foreclosure-related filings, according to RealtyTrac Inc.

The drop in homeownership is a reversal after the housing boom years, when minorities in the U.S. took advantage of easy access to financing and became homeowners.

Minorities haven't lost all the gains reaped during the housing boom years, but data from 2009 could begin to show otherwise, said demographer Mark Mather with the Population Reference Bureau in Washington D.C.

"So far these rates are still higher than they were back at the beginning of the decade, but it could be that this data are too young," he said. "We need to wait for the 2009 data because we're really just capturing part of the recession at this point. And the really high double-digit unemployment didn't hit until earlier this year."

Jennifer Nguyen and her husband Mike Truong are among this year's once-again renters, who will be counted in the 2009 Census survey that will be released next year.

The couple owned a townhome and sold it in 2004, making a $200,000 profit that they put toward a $555,000, three-bedroom, two-bath house in Anaheim two years later.

But financial problems mounted after Troung, a truck driver, saw business slow along with the economy. The couple fought to hang on to their home, but couldn't refinance because the property's value had dropped sharply. Attempts to get their mortgage loan modified also failed.

In June, the bank took possession and sold it at auction.

"At that moment my body was numb," Nguyen, 30, wrote in an e-mail. "Our first chapter of our life has been shredded and we are now ready for a new fresh start."

AP data specialist Allen Chen in New York contributed to this report.

On the Net:
Census Bureau:

Friday, September 25, 2009

Consumers Group Takes Mortgage Modification Programs to Task

By David Morrison
The National Consumer Law Center, a Washington based consumer protection organization released a 50 page report sharply criticizing federal, state and local mortgage modification programs for not really pushing mortgage servicers to help homeowners.

“Ultimately, under most of the existing foreclosure mediation programs servicer discretion prevails,” the report said in its executive summary. “If the programs continue to demand little or no accountability from servicers, they will likely go the way of other efforts to control foreclosures that relied on voluntary compliance by the lending industry. They will become another piece of imagery the industry uses to support its

claims that voluntary efforts work, that statutory and other government mandates for loan modifications are unnecessary, and that jargon about the benefits of communication can solve the foreclosure crisis.”

In order to better the process for consumers, the NCLC recommended forcing mortgage servicers to disclose more about their modification calculations, bargain in good faith and not allow judicial or non-judicial foreclosures to move forward unless the servicer can show it has tried in good faith to modify the mortgage.
The National Consumer Law Center, a Washington based consumer protection organization released a 50 page report sharply criticizing federal, state and local mortgage modification programs for not really pushing mortgage servicers to help homeowners.

“Ultimately, under most of the existing foreclosure mediation programs servicer discretion prevails,” the report said in its executive summary. “If the programs continue to demand little or no accountability from servicers, they will likely go the way of other efforts to control foreclosures that relied on voluntary compliance by the lending industry. They will become another piece of imagery the industry uses to support its

claims that voluntary efforts work, that statutory and other government mandates for loan modifications are unnecessary, and that jargon about the benefits of communication can solve the foreclosure crisis.”

In order to better the process for consumers, the NCLC recommended forcing mortgage servicers to disclose more about their modification calculations, bargain in good faith and not allow judicial or non-judicial foreclosures to move forward unless the servicer can show it has tried in good faith to modify the mortgage.

Source: Credit Union Times

RELN Weekly Real Estate Blog-Briefing

• Maine Warns of Phone Housing Scam
Homeowners in Maine have been receiving phone solicitations of fake foreclosure or refinancing help and the Maine Housing Authority is warning them to watch out for more housing scams.... Read more »

. Mortgage Applications Up Again After Rate Decline Read more »

. Home seminar offered by Hispanic agents
AZ - Craig Anderson - ‎Sep 23, 2009‎
The Hispanic Association of Real Estate Professionals event will be 10 am to 5 pm at Christown Spectrum Mall, 1703 W. Bethany Home Road. Read more »

Interested In Targeting The Latino Market?

Real Estate Latino Network Can Help! We offer our clients agents and brokers a full complement online marketing solutions, managed by a Latino culturally diverse team with bilingual capabilities and over 10 years of real estate experience. We focus on helping real estate professional and agencies communicate effectively to Latino buyers and sellers with culturally relevant online marketing. Target marketing that converts leads into closed deals!

Friday, September 18, 2009

Another Sales Spike But Prices Down.OverView

Existing-home sales – including single-family, townhomes,
condominiums and co-ops – rose 7.2 percent to a seasonally
adjusted annual rate of 5.24 million units in July from a
level of 4.89 million in June, and are 5.0 percent above the
4.99 million-unit pace in July 2008. The last time sales rose
for four consecutive months was in June 2004, and the last time
sales were higher than a year earlier was November 2005.

Lawrence Yun, NAR chief economist, said he is encouraged. “The
housing market has decisively turned for the better. A
combination of first-time buyers taking advantage of the housing
stimulus tax credit and greatly improved affordability conditions
are contributing to higher sales,” he said.

Total housing inventory at the end of July rose 7.3 percent to
4.09 million existing homes available for sale, which represents a
9.4-month supply at the current sales pace, which was unchanged from
June because of the strong sales gain. Raw inventory totals are
10.6 percent lower than a year ago when the number of unsold homes
was at a record.

The national median existing-home price for all housing types was
$178,400 in July, which is 15.1 percent lower than July 2008.

In new sales there were also month-to-month increases in activity but
decreases from a year ago. Sales of new one-family houses in July 2009
were at a seasonally adjusted annual rate of 433,000, according to
estimates released jointly August 26th by the U.S. Census Bureau and
the Department of Housing and Urban Development. This is 9.6
percent (±13.4%) above the revised June rate of 395,000, but is 13.4
percent (±12.9%) below the July 2008 estimate of 500,000.
The median sales price of new houses sold in July 2009 was $210,100;
the average sales price was $269,200. The seasonally adjusted estimate
of new houses for sale at the end of July was 271,000. This represents
a supply of 7.5 months at the current sales rate.

There are several pieces of good news in these reports. The decline
in sales actvitydefinitely has stopped for at least the last several
months. In addition, total inventory in both resale and new homes
is slowly declining. Finally, prices are still dropping (good news
for buyers) but there is a good deal of analysis that points to a potential
bottom--whether temporary or more permanent--in the current environment.

Wednesday, September 16, 2009

CLose More Leads With RELN's Solution! RE-Think Latino

Online Marketing Solution for Bilingual Real Estate Agents and Brokers

Most real estate agents and brokers today are faced with tighter budgets, and the marketing dollars that they do have are being shifted ever-increasingly to digital media. Now more than ever in these tough economic times, you must have the ability to measure and demonstrate ROI; and you need to focus on the most efficient way to reach new and existing customers. (REL) offers bilingual agents and brokers an effective and affordable alternative to traditional high-cost marketing media, delivering high-quality phone-verified leads, right to their inbox.

Only quality leads - Never recycled! How can we do this? For over five years our company has been a leader in the online Latino real estate market. REL’s affiliated websites have become trusted allies for thousands of Latinos looking for a trusted advisor, who will guide them along the process of buying their home. We deliver true leads: Real people wanting to engage with an agent who is willing to take the time to explain the real estate process, find the home, and help them negotiate and close the deal.

You are always in control! Real Estate Latino Network offers territorial exclusivity to agents and brokers (one city or two towns). We are not in the business of selling leads; we are in the business of generating and converting potential leads that will help our clients greatly increase their online market share. We invest large amounts of time and efforts helping our clients stay in touch with the lead, and provide them with online tools that make the follow-up process easy and accessible from any computer that has internet access.

Unlike any other company, we work closely with our clients to customize their online marketing campaign based on their needs and target demographics. For example, if you do business in Miami you might also want to consider the growing number of Latin American buyers who now call South Florida home. The internet, via, is the natural place to meet these buyers.

Who benefits from this service? Any agents or brokers seeking to expand their online Latino market share, without having to become a real estate marketing expert, and without having to spend excessive marketing dollars. We recognize that each one of our clients is unique, and our team of professionals would be delighted to tailor our services to your needs, to ensure your complete satisfaction.

Following is a list that describes some typical REL clients:

•An agent or broker who has tried similar services but has not seen the desired results
•An agent or broker wanting to expand his or her online business by targeting the Latino community
•An agent or broker who does not want to bother with all the time and challenges related to the marketing of their services
•An agent or broker who is simply seeking an online presence
•An agent or broker needing a Spanish site in order to complete his/her bilingual service offerings
•An agent or broker who is willing to create a strategic partnership with an online marketer who can guarantee results in the Latino market, and beyond.
To schedule a confidential, no obligation online presentation, just write us an e-mail and send it to, or call REL toll-free today at 1-888-934-9779.

HomePath® Renovation Mortgage Financing, a Great Opportunity for a Home Buyers

By Bill Arce.
Fannie Mae offers buyers an opportunity to purchase their primary home in need of renovation to include the rehab cost in the home loan. This special financing is available if purchase a Fannie Mae home, make sure your real estate agent and lender are aware of this program.

This program is available only on homes you make your primary residence and offers these benefits:

•Financing to fund both your purchase and light renovation
•Low down payment and flexible mortgage terms (fixed-rate or adjustable-rate)
•Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer
•No mortgage insurance*
•HomePath Renovation Mortgage financing is available from several lenders, make sure to ask for a bilingual representative.

More Free Tips and Advise @

Monday, September 14, 2009

Acculturation vs. Translation

Acculturation vs. Translation: Your Path to Cultivating the Latino Real Estate Market
by Bill Arce
Real Estate Agents cannot simply apply directly to the U.S. Latino market the conceptualizations or marketing strategies that work with the general real estate market. Many factors – financial, historical, background, cultural, demographic and expectations -- place Latino real estate consumers in a different category, making essential for professionals to RE-Think Latino. A combination of Brand awareness and trusted advisor are product elements deemed important by Latino consumers, especially first time home buyers.

For many agents’ website, direct translations and usage of traditional online marketing strategies tend to miss the emotional and culturally relevant elements involve in the home purchasing for any Latino family. Some results will be there, but not with the sales volume, strength and recall that a truly culturally-attuned online marketing and co-branding efforts that Real Estate Latino Network can reach for your company.

Make no mistake, the integration of generations and diverse countries of origin within the U.S. Latino market has created a complex culture that requires experience and research to understand, Real Estate Latino Network with over 5 years on the market can assist you reach this market of opportunity. The time to act is now! Visit for more information.

Wednesday, August 19, 2009

New Hispanic Demographics. We Must Re-Think Latino

This information is from the Wall Street Journal:

•Hispanics now account for more than 15% of the U.S. population
•Hispanics control more disposable income than any other minority group. The figure stands at $860 billion a year and is expected to hit $1.3 trillion by 2012.
•Between 2000 and 2007, 16 states -- among them West Virginia, Illinois and New Jersey -- saw their white population decline, according to the new Census data. Over the same period, whites accounted for a majority of population growth in only 11 states.
•According to the Pew Research Center, whites are projected to make up only 45% of the working-age population in 2050, down from 68% in 2005.
•The center projects that the share of Hispanics in the working-age population will double rising from 14% to 31%.

Read the WSJ article here

Utilizing Email Marketing To Generate More Leads

Utilizing Email Marketing To Successfully Expand Your Real Estate Business
By Bill Arce

If you are looking for ways to improve your lead generation strategic, “Email Marketing” could be an affordable option available to you. Using email marketing to generate new leads is easy and it could even be more effective than traditional cold calling or real estate farming. Here I give you some tips that can help you set up your own email marketing campaign.

Are You Ready?

Before getting ready to blast your email contact list with your newsletters, you need to plan your email marketing campaign carefully. How can you do it? Very Easy! First, make sure that your website info is up-to-date. If you are planning on promoting just one service (e.g. an open house or a new listing) you could direct email receivers to a “landing page” with more elaborated information. If you just want people to know about resources available in your website, then you can just send them a link to your site home page for more references.

Free Vs. Email Marketing Service:

It is no secret, if you can send an email from your email client like Microsoft Outlook; you are able to send emails to several contacts in your address book at once. Bud, would it look professional? Provably it will not. This is one of the reasons why using an email marketing company to assist you managing your email marketing campaigns make sense.

Virtual companies like, and can offer a variety of tools that will help you create, manage and gather data from your email marketing campaigns. Price varies, but they all offer new clients a free trial that to give you an opportunity to get a feeling which company will work better for you.

Building Your List:

Ok, now you know how to create an email marketing campaign, but how useful this is if you don’t have a list of emails to target. First, I would start by gathering emails from family, friends and colleagues. Then, I will add email addresses from past satisfied clients to my master list. Finally, I will make it easy for new potential clients to share their emails with me.

How to capture new emails:

Your main goal is to constantly maintain a flow of new email coming to you, to achieve this an smart agent only need to do one thing, ask for it,. How? Here are some ideas.

 You can solicit emails by simply have a Newsletter sign up section in your website
 Offer free information articles and eBooks to visitors willing to give you their email address
 Offer a “Free Consultation Section” on your site where visitors can ask you questions
 Ask for emails in open houses sign up sheets
 Include emails as part of your client intake form
 Ask for emails at homebuyer seminars sign up sheets

Don’t Forget:

Never spam, when you send emails give the option to unsubscribe to your email marketing campaign if your recipients feel they didn’t ask for the email or just don’t want to receive anymore emails.

Let people know that you will protect their private information and that their emails will never be shared with another company.

Be consistent, don’t just send an email campaign this month and not the following month, to be successfully you must make sure that you will be able to maintain those emails coming at list once a month.

For More Information Bout Our Services Visit

Tuesday, August 18, 2009 continues providing Free Services to the Latino community in the US. leading bilingual online real estate community based in Jacksonville, FL continue providing Free Services to the Latino community in the US.

We are experiencing a very challenging and fast changing real estate market with a lot of opportunities for Latinos to buy their dream home, but these opportunities can be easily out of reach to many Latinos for lack of information or knowing where to find resources, said Bill Arce, President and CEO of Real Estate Latino Network.

Record low Interest rates, new down payment assistance program like the federal tax credit, first time buyer program under the Neighborhood Stabilization Program, just to name a few, are examples of resources available to Latinos NOW, continue, Mr. Arc. offers free access to detailed information to these and more resources available across the border in Spanish. not just offer FREE real estate information and resources, as a part of a its commitment to assist a Latino homebuyer reach the “American Dream”, REL provides homebuyers with an unique professional matching service. Latino buyers looking to purchase a home in the US can ask REL to be referred to one of the many REL’s certified real estate agents to help them find, negotiate and close on their dream home. is taking daily applications from ready to buy buyers looking to purchase a new home within 90 days. We are currently offering exclusive territories in Florida, Texas and California, if you are a broker/owner and would like to know more about this great offer, email me at or just call our company 888-934-9779.

Rene Lugo
Account Manager

Real Estate Latino, LLC

$8,000.00 Federal Tax Credit-What You Need To Know

Thursday, July 30, 2009

Jacksonville Community Empowerment Expo

The Community Empowerment Expo (CEE) will take place 8:30 a.m-1:30 p.m., Saturday, Sept. 12, at the Downtown Main Library, 303 N. Laura St.

CEE will offer tangible resources and result-producing workshops to people who live below, at or just above the poverty line. This program has been carefully designed to bring businesses and non-profits together to provide real help to individuals seeking to improve their economic situation.

Workshops will focus on key areas that can and will help improve individual economic status, including:

credit repair
career building
operating on a limited budget
building wealth
leading a healthy life
housing and foreclosure issues
advanced training and education
All workshops will result in a tangible resource for each attendee to take away from the Expo to help improve their quality of life. For example, a career building workshop will not only discuss the importance of a resume, but each person participating will leave with a professionally-designed resume.

Resource Expo
The Resource Expo will include more than 50 partnering agencies, businesses and organizations. In keeping with the CEE focus, each partner must offer a program or service for attendees. For example, a banking institution may offer a no-fee checking account to everyone who registers for and attends a banking workshop following the expo.

Please check back often as the Sept. 12 date for the Community Empowerment Expo nears. This site will be updated with information on specific workshops and resources committed to the event, as well as tips on how to prepare for the Expo in order to get the most out of it.

Community Empowerment Expo Partners

City of Jacksonville
National Disability Institute
Bank of America
ClearChannel Radio
Duval County Health Department
BluceCross BlueShield of Florida
Internal Revenue Service
Jacksonville University
Ready 4 Work

Wednesday, July 29, 2009

Foreclosure Workshop In Jacksonville

Florida Chief Financial Officer Alex Sink
invites you to participate in

Florida Housing Help

A community outreach program sponsored by the
Department of Financial Services and the
Financial Action Team (FACT) in partnership with
Wealth Watchers, Inc.

Florida Housing Help is designed to educate
and assist families facing foreclosure.

Event: Florida Housing Help Workshop

Date: Saturday, August 1, 2009

Where: Beaver Street Enterprise Center
1225 W. Beaver Street, Jacksonville, FL 32204

Time: 8 a.m. to 12 p.m.

This workshop will include opportunities to meet with mortgage
lenders, HUD-certified housing counselors, local housing authorities,
legal assistance, credit counseling services, and many other
foreclosure assistance programs.

Pre-registration is recommended
online at or call (904) 380-0347.

Thursday, July 16, 2009

Online Marketing Services For Real Estate Professionals offers real estate agencies and brokers the assistance needed to maximize their ROI by partnering with them on a customized online marketing strategy. For more information email us @ or call me at 888-934-9779.

Wednesday, July 15, 2009

SBA Forms Strategic Alliance with Vista Chapter of the National Association of Hispanic Real Estate Professionals

SAN DIEGO - (Business Wire) Ruben Garcia, the San Diego district director of the U.S. Small Business Administration (SBA), signed a strategic alliance memorandum today with Maria Lopez Flores, President/CEO of the National Association of Hispanic Real Estate Professionals (NAHREP), Vista chapter.

The signed agreement allows SBA and the NAHREP Vista to work together, with SBA and its resource partners providing maximum financial opportunities, training and technological information to NAHREP entrepreneurs.

“I’m extremely pleased with the work that is being accomplished by NAHREP Vista and the excellent leadership provided by Maria Lopez Flores,” said Garcia. “Maria has a rich history of helping entrepreneurs take their place as business owners and I know she’ll continue doing a great job of assisting potential owners to fulfill their dreams of small business ownership.”

This collaboration between the SBA and the NAHREP Vista is building a strong foundation for the future. NAHREP’s mission is to increase Hispanic homeownership rates through educational tools and a network of professionals in the real estate industry.

Notes Maria Lopez Flores, “Having SBA San Diego as a strategic alliance partner only enhances a strong foundation of services for future entrepreneurs, especially those working in North San Diego County.”

To learn more about the SBA call (619) 557-7250 or (619) 727-4883 and visit the web at To find out more about NAHREP Vista, call Maria Lopez Flores at (760) 803-4696.

Release Number: 09-17

U.S. Small Business Administration
Cynthia Harris, 619-727-4884

Tuesday, July 07, 2009

The First Time Home buyers Tax Credit of $8000 can be used as a down payment

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment.

Marketing the tax credit to the Latino community can be a great way to generate new leads. Here are some ideas of what you can do to attract potential homebuyers.

First: I would include a bilingual version of the tax credit program on my website homepage. As everything that has anything to do with government, this program is not exempt of red tape and confusion. So why not prepare a short tax credit fact sheet in English and Spanish for your visitors. DO NOT forget to make easy for them to ask you questions about the program, that why you will be able to generate and later convert leads into prospective.

Second: Create a bilingual flyer highlighting FAQ about the program and blast Wal-Marts, local business, homeownership fairs and apartment complexes. Make sure to refer readers to your website for more information and leave your cell number and email for easy contact.

Lastly: I will blast the information online at the local level. Create a bilingual Google pay-per-click campaign targeting first time homebuyers in your town. Use keyword like “tax credit program” “first time home buyer” “government assistance”. Utilized the free services of, post a new ad every couple days in the real estate and finance section of your home town, this will help you drive traffic to your website. Write a blog, if you have not done so; create a blog by using some free platform like and

Just keep in mind that if your strategy is educate and inform potential leads, they will appreciate and eventually would love the opportunity to work with you and find a home together.

Tuesday, June 23, 2009

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 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 APA Public Affairs Associate Roberta Rewers can be contacted by phone at 312-786-6395 or via email at 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

Monday, June 22, 2009

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 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 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.


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!

Back to

Tuesday, June 09, 2009

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.

Go back to

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

Monday, June 08, 2009

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:

Friday, June 05, 2009


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 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.

BIENVENIDOS AL ÁREA DE ORANDO, AQUÍ SIEMPRE ESTARÁS DIVIRTIÉNDOTE. El centro de la Florida compuesto por cuatros condados, Lake,...