Here is the video of the 2012 State of the Union address. Obama talks about housing at minute mark 35:48 if you wanted to skip to that section.  Enjoy

Wow, what a deal. Check out this story about a guy in Texas getting a steal of a deal!

Texas man pays $15 to move into $340,000 house

© 2011 The Associated Press

July 31, 2011, 9:00PM

FLOWER MOUND, Texas — It has the makings of a tall tale: A man finds a two-story, 3,250-square-foot house worth $340,000 in a Dallas suburb and pays only $15 for it.

Kenneth T. Robinson, 50, who sells vitamins and other dietary supplements for a marketing company, laid claim to the 1997-built house in Flower Mound under Texas’ obscure “adverse possession” law — commonly known as “squatter’s rights.”

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Thats right, looks like if you pay your mortgage on time, you get a bonus according to the article I found down below. Read on and see what you think……..

Should Everyone Get Bonus For Paying Mortgage On Time?

Published: Monday, 11 Jul 2011 | 3:23 PM ET

By: Diana Olick
CNBC Real Estate Reporter

At what point is moral hazard trumped by corporate survival and the cold hard need to get people to pay their mortgages? The answer is: Now.

As home values continue to fall and more borrowers fall into a negative equity position on their home loans, those who stand to lose, banks and investors, are working to keep borrowers current.

To date, they have focused on delinquent borrowers, offering loan modifications and foreclosure alternatives, like short sales and deeds in lieu of foreclosure.

Last fall, New Jersey-based Loan Value Group launched a new business model, offering lenders and mortgage investors a way to keep their current, but underwater, borrowers current through cash incentives.

It’s called Responsible Homeowner Reward, and today, one of the nation’s largest mortgage insurers, PMI Mortgage Insurance, joined in.

Here’s how it works………..READ MORE.

The count down to the government tax credits only gives 60 days left until a sales contract needs to be completed by April 30th.  Do you have a chance at part of this credit? Have you already bought a house and looking for this tax form from my previous blog? Well, lets take a look at some of the things you need to know that is happening right now in the real estate and mortgage market.

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Hmmmm…..seems like I have been telling of this warning at my earlier blog post Predictions for 2010  <<<Click that link<<<, now others are saying the same thing. Don’t know how high they will go, but not really seeing rates staying at these levels too much longer.

Check out this article I found and let me know what you think.

Full article visit: http://www.cnbc.com/id/34513588

 Mortgage rates have inched upward in  the last weeks of 2009, and that trend will continue through 2010. The question is how high they will go.

 “If you told me by the end of 2010 a 30-year rate was at 6 percent, that sounds about right,” says Mark Zandi, chief economist at Moody’s. “I don’t think there’s any question rates are headed up.”

Rates are still historically low heading into the new year. The average fixed rate on a 30-year mortgage was 4.94 percent the third week of December. But that’s higher from the record low of 4.71 percent the week of Dec. 3.

So far, it’s turned out to be a case of nowhere to go but up, says Lawrence Yun, Chief economist at National Association of Realtors.

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For first time home buyers, this is a common question that is either asked or going through their minds. Hopefully I can give you some helpfull information to this question. Lets think of the reasons why people rent, and please add a comment so I can hear some more reasons.

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Winter is usually a slow time during the homebuying season because of everything taking place near the end of the year. This year is different since you have a stimulus package for buying a home that ends in April, and mortgage rates that more then likely will go up near the end of March. Yes, mortgage applications should be up as people need to realize the time to act is now with all the government help. Hopefully people are listening Always good to speak with a professional and make sure to stay away from a lot of scam artiest. If it sounds too good to be true, walk away and take some time to think about it before acting. Below is a article found on Reuters. Hope you enjoy

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Found this real good article from Diana Olick below with her Real Estate Predictions for 2010. Just wanted to high light the Mortgage section for rates and my previous post about Mortgage Rates Will Rise by End of 1st Quarter 2010 (March). Remember, with the FED backing away from buying Treasuries Securities by the end of 1st Quarter 2010, unemployment number possibly trending down, and housing stimulus programs nearing an end, then mortgage rates should move up. Also be listening to what the FED plans on doing about the over night rate because it can not say at 0% to .25% for much longer.

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As posted in my last article Mortgage Interest Rates 

Now, it has been announced that the FED will start to pull back from buying Treasury securities sometime around March 2010. Economics 101, if demand for these go down then price will go up and that means interest rates. The problem though with predicting anything in the financial market is that it is never just that ONE item that causes movement. There are a lot of other factors that will cause interest rates to change, and this is just one of those causes.

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This is a common question that comes up and each situation a borrower might need a little bit more information depending on the underwriters opinion. Here is a general list to go by that will help your home loan or mortgage process go smoothly.

1. A fully executed agreement of sale for the property being purchased

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