Everyone is being affected in some manner by the outbreak of Covid-19 coronavirus. During this time, buyers will have more questions than normal about the home buying process and their ability to buy a new home. While we can’t predict what the next few weeks and months will bring, the more we can educate ourselves, the better we can help buyers navigate the buying process smoothly during the pandemic. Here are a few common buyer questions as they related to the Coronavirus outbreak and real estate answered.

1. Can we still go see home listings in person? – This is the hardest question to answer and it will depend on the home, the seller, the agent and any fast-changing governmental policies put in place. Agents should be able to offer a Skype or Face Time home tour virtually. Talk to your agent to find out what they have available for the buyers to pre- screen the home virtually before setting up the visit; they might have virtual tours already available which can help rule out those that don’t suit their needs.

2. How can I stay safe while visiting homes? – Everyone’s health has to be the priority; this includes the buyers, sellers, and agents. If you are going to see a home in person during this time, carry hand sanitizer and wipes to use before, during and after the tour. Drive separately from your agent meet at the homes. During the tour, designate one person to open doors, drawers, and closets and use disposable gloves during the showing.

3. What happens if I lose my job during the escrow period? –Most real estate contracts include a contingency that protects the buyer in the event they can’t get final loan approval and close the loan. Typically during the process, this contingency is removed after a set time frame, or after receiving the loan approval. Since every aspect of real estate is negotiable, consider asking for the contingency deadline to be extended and in place until the close; talk through this aspect with the seller and their agent in advance to set the right expectation.

4. Will I still have access to the home during the escrow period? – It’s very common for the buyer to have easy access to the home during the escrow period; home inspections, appraisals and just measuring are all common reasons to visit the home during escrow. Consider grouping these activities whenever possible.

5. Will I get a better deal if I wait to buy a new home? – We all know there’s no crystal ball, but with everything that’s going on, sellers on the market should be very motivated to sell. There are also historically low-interest rates on home loans. There is no way to predict the future, so if the right home comes along, it makes sense to consider it.

​The Covid-19 outbreak is causing some uncertainty among home buyers, sellers, and even agents. However, with the use of technology and following best practices, you can still find the home you’ve been waiting for during this time.

 Freddie Mac mortgage relief and loan lookup, visit My Home by Freddie Mac


​MCLEAN, Va., March 18, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced it is taking numerous actions to protect those affected, either directly or indirectly, by the novel coronavirus, known as COVID-19. Specifically, for its Single-Family business, the company announced a nationwide suspension of all foreclosure sales and evictions of borrowers living in homes owned by the company. It also announced a variety of additional mortgage relief options, including an expansion of its forbearance program, to incorporate additional impacted borrowers. The company also has reminded Servicers of its existing suite of mortgage relief options to assist borrowers, while also making additional disaster related loan modifications available.

These measures are effective immediately and apply to borrowers who are unable to make their mortgage payments due to a decline in income resulting from the impact of COVID-19, regardless of whether they have contracted the virus.
Forbearance plans provide borrowers with payment relief for up to 12-months and suspend borrower late charges and penalties. It also suspends reporting to credit bureaus of past due payments of borrowers who are in a forbearance plan as a result of hardships attributable to this national emergency.

“We are doing all we can to help those adversely impacted by the coronavirus, including by immediately suspending foreclosure sales and evictions during this challenging time,” said Donna Corley, executive vice president and head of Freddie Mac’s Single-Family business. “These eviction and foreclosure stoppages are just one part of the comprehensive assistance we’re providing borrowers to help protect our communities. We are also expanding relief available through our well-known forbearance programs, allowing us to reach the majority of affected borrowers as expeditiously as possible.”

Borrowers who may be experiencing financial challenges due to COVID-19 are strongly encouraged to contact their mortgage servicer – the company they send their monthly mortgage payments to – so they can explore one of the Freddie Mac workout options.

“We are committed to helping families affected by the virus and we are instructing Servicers to work with borrowers who are unable to make their mortgage payments to ensure they are evaluated for a forbearance plan or other appropriate assistance,” added Kevin Palmer, senior vice president of Single-Family portfolio management at Freddie Mac. “We ask that Servicers be responsive to potential requests for assistance from borrowers who may be impacted by COVID-19.”
Freddie Mac’s mortgage relief options for borrowers impacted by COVID-19 include:

• Ensuring payment relief by providing borrowers forbearance for up to 12 months;
• Waiving assessments of penalties or late fees against borrowers;
• Suspending the reporting of delinquency related to forbearance, repayment or trial plans to credit bureaus; and
• Allowing Servicers to offer borrowers additional loss mitigation options that are typically only enacted to address natural disasters. This includes loan modifications that give servicers options to provide payment relief or keep the payment the same post the forbearance period.

Borrowers are eligible for forbearance regardless of whether their property is owner occupied, a second home or an investment property.

The suspension of foreclosure sales and evictions is effective immediately and applies until May 17, 2020. If necessary, and at the direction of the Federal Housing Finance Agency, Freddie Mac may extend the suspension of evictions beyond May 17, 2020.

Freddie Mac has helped more than 1.3 million financially troubled borrowers avoid foreclosure since 2009. For more information on Freddie Mac mortgage relief, visit My Home by Freddie Mac(SM).

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) wants to help ensure families are given options in these uncertain times in the case of job loss, a reduction in work hours, illness, or other issues. We want to remind those impacted by COVID-19 of available mortgage assistance and relief options. Under Fannie Mae's guidelines for single-family mortgages:

• Homeowners who are adversely impacted by this national emergency may request mortgage assistance by contacting their mortgage servicer
• Foreclosure sales and evictions of borrowers are suspended for 60 days
• Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months
• Credit bureau reporting of past due payments of borrowers in a forbearance plan as a result of hardships attributable to this national emergency is suspended
• Homeowners in a forbearance plan will not incur late fees
• After forbearance, a servicer must work with the borrower on a permanent plan to help maintain or reduce monthly payment amounts as necessary, including a loan modification

Fannie Mae also offers help navigating the broader financial effects of this national emergency to homeowners with a Fannie Mae-owned mortgage through its Disaster Response Network*, including:

• A needs assessment and personalized recovery plan
• Help requesting financial relief from insurance, servicers, and other sources
• Web resources and ongoing guidance from experienced disaster relief advisors 

Homeowners can find out if they have a Fannie Mae-owned mortgage and access to the Disaster Response Network™* by visiting www.KnowYourOptions.com/loanlookup.

"Our thoughts are with everyone who may be impacted by COVID-19 and we urge you to stay safe and well during these unprecedented times. Fannie Mae, along with our lending and servicing partners, is committed to ensuring assistance is available to homeowners in need. We encourage residents whose employment or income are impacted by COVID-19 to seek available assistance as soon as possible," said Malloy Evans, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae.

Homeowners can reach out to Fannie Mae directly by calling 1-800-2FANNIE (1-800-232-6643). For more information, please visit www.knowyouroptions.com/covid19assistance.

If your mortgage is owned by Fannie Mae, or Freddie Mac then Know Your Options. To learn more about foreclosure assistance options find out who owns your loan.

Follow the link below to see if it is FANNIE or Freddie owned.

FANNIE MAE

www.knowyouroptions.com/loanlookup



FREDDIE MAC

https;//www.freddiemac.com


If you have any questions please feel free to reach out to us!

August 9, U.S. stock index futures ticked higher on Thursday, with the S&P 500 aiming at a fresh record, as the second-quarter earnings season winds down on a strong note.

Futures implied the benchmark index would open at 2,859.95, about 13 points away from the record, which it last hit in late January.

A strong earnings season has kept up the momentum in the markets, helping cushion major blows from trade-related issues.

Of the 440 companies in the S&P 500 that have reported so far, 78.6 percent have beaten analyst expectations, according to Thomson Reuters I/B/E/S.

Shares of U.S.-listed Chinese stocks were higher in premarket trading, tracking a rebound in Shanghai stocks.

JD.com (JD.O) rose 0.4 percent and Baidu (BIDU.O) 0.8 percent.

Among other movers, Century Link (CTL.N) jumped 4.4 percent after reporting quarterly results.

Twenty-First Century Fox (FOXA.O) climbed 0.2 percent after its quarterly profit and revenue topped estimates, helped by the popularity of superhero movie Deadpool 2.

Rite Aid (RAD.N) fell 10.9 percent and was the most heavily traded stock after the drug store chain and U.S. grocer Albertsons Cos ABS.N agreed to terminate their merger agreement.

Perrigo (PRGO.N) fell 8.3 percent after its board approved a plan to separate its Prescription Pharmaceuticals business and after the generic drugmaker reported quarterly results.

At 7:00 a.m. ET, Dow e-minis 1YMc1 were down 1 points, or -0 percent. S&P 500 e-minis ESc1 were up 1.75 points, or 0.06 percent and Nasdaq 100 e-minis NQc1 were up 4 points, or 0.05 percent.

Investors are also eyeing inflation numbers to gauge the impact of tariffs on pricing and for clues on the path of interest rate hikes.

A U.S. Labor Department report is expected to show producer price index for final demand rose 0.2 percent for July from 0.3 percent in June. The data is due at 8:30 a.m. ET.

Reporting by Amy Caren Daniel in Bengaluru; Editing by Anil D'Silva

March 21, World shares were flat on Wednesday and the dollar eased off three-week highs as investors marked time before a likely hike in U.S. interest rates and awaited guidance on how many more to expect for this year.

Markets are on edge, not only because of the U.S. Federal Reserve meeting which should deliver the first rate rise of 2018, but also because of a selloff in U.S. tech shares, which has wiped almost $50 billion off the value of Facebook (FB.O) this week amid uproar over the alleged misuse of users data.

The Facebook losses have filtered through other tech shares in the United States and overseas, with shares in Twitter (TWTR.N) falling more than 10 percent on Tuesday .SPX.

The losses are likely to have hit investors hard, with Bank of America Merrill Lynchs monthly survey showing global funds heavily positioned in tech shares just before the rout began.

There are tensions between potential bad news and good news in the market. The bad news is the problem facing the tech sector, which has been the leading light of U.S. and Asian equity markets for over a year, said Andrew Milligan, head of global strategy at Aberdeen Standard Investments.

The good news is we must recall why the Fed is tightening policy. It's because of the underlying strength of the U.S. and global economy.

MSCI's all-country equity index flatlined MIWD00000PUS>, and is now 6 percent off record highs hit at the end of January, pressured by fears of a global trade war ignited by U.S. President Donald Trump and the possibility that the Fed could end up raising interest rates more than three times this year.

The Fed has increased borrowing costs five times since it began tightening policy in late 2015. Markets are pricing in three rises this year but some reckon policymakers could squeeze in a fourth, which might trigger a bond and equity selloff.

The 1800 GMT announcement will also be the first under new Fed chair Jerome Powell, analysts note.

We might have significant changes in communication compared with what we've seen under (previous chair Janet) Yellen, said Chris Scicluna, head of economic research at Daiwa Capital Markets.

The economic situation post tax cuts also justifies a significant shift upwards in the dot plot, he added, referring to fears the Fed's de facto policy forecast chart could signal four rate rises rather than three, due to the economic boost delivered by Trump's tax reforms.

Those expectations had sent the dollar to nearly three-week highs on Tuesday but it eased back a quarter percent against a basket of currencies .DXY on Wednesday, having lost almost half a percent this month.

The greenback's weakness it fell 10 percent last year  is at least partly down to U.S. capital seeking to invest overseas amid robust world growth. Milligan said that would continue unless trade skirmishes started impacting the world economy or U.S. growth accelerated further.

To get the dollar higher we will need combination of the Fed being more aggressive and signaling more changes for 2019, he added.

European shares edged down, despite a small tech index bounce off two-week lows .SX8P and equity futures signaled that Wall Street would likewise open a touch lower ESC1

Emerging equities fell 0.2 percent .MSCIEF

TRADE WAR FEARS

A major overhang for financial markets is the specter of a global trade war.

Trump is expected to unveil up to $60 billion in import duties on Chinese goods by Friday, after imposing tariffs on imported steel and aluminum earlier this month.

Investors are worried his actions could escalate into a full-blown trade war if China and other countries retaliate with similar or harsher measures, threatening global growth.

This week's meeting of finance ministers and central banks of the worlds 20 biggest economies failed to diffuse tensions, with the so-called G20 bloc saying only it recognised the need for more dialogue and actions.

The currencies of export-heavy nations such as the Australian, New Zealand and Canadian dollars were on the defensive after being knocked down to multi-month lows, while most emerging currencies were also marked lower.

The Aussie AUD=D4 languished near three-month troughs against the dollar of $0.7679 while the Kiwi NZD=D4 hit the lowest since early January. The Canadian dollar CAD=D4 held at $1.3029 after hitting $1.3124 on Monday, a low not seen since mid-2017.

The Mexican peso was up almost 1 percent against the dollar after reports the United States had dropped a demand that vehicles imported from Canada and Mexico should contain 50 percent U.S. content.

Fears of a trade war have also weighed on commodity prices, though tensions in the Middle East supported oil, lifting Brent futures LCOc1 almost half a percent.

Copper prices in Shanghai fell to their lowest in almost six month, their fourth straight day of losses SCFcv1.

Reporting by Sujata Rao; Additional reporting by Swati Pandey in Sydney and Dhara Ranasinghe in London; Editing by Catherine Evans

While everyone was preparing for New Year’s Eve, investors were patiently waiting to celebrate the Dow reaching 20,000. It seemed to be a probable goal by Christmas, but, the last week of the year kept investors waiting to release the balloons and pop the bubbly. The Dow cruised to a high of 19,974 on December 20 and then stalled. On Wednesday, the Dow dropped more than 100 points to close at 19,840. The downward trend continued throughout the week as the year closed out at 19,762.60.

Meanwhile, Consumer Confidence grew in December reaching 113.7 per the index, up from a revised 109.4 in November. This was the highest level since 2001. Experts attribute this rise to an improving U.S. economy and anticipation of a Trump presidency.

While Trump’s victory may have been positive for stocks and business, it has hurt Pending Home Sales. Before the election, mortgage rates were around 3.6 percent. Since the election, rates have surged to 4.4 percent. With rates moving almost a point, that is adding, roughly an extra $100 a month payment to a $200,000 mortgage. Combined with a shortage of inventory, the jump in interest rates have led to Pending Home Sales dropping 2.5 percent in November. However, with steady growth in the economy and positive job market prospects, many families have the renewed confidence to buy a house. In addition, home prices continue to rise. The S&P Case-Shiller Index rose .6 percent in October and is 5.1 percent higher for the year. Cities in the west, such as Seattle, led the increase while New York showed the biggest decline, down .2 percent from the previous month and only 1.7 percent higher for the year. Builders have increased production to meet the rising demand for housing which could in turn slow down rising prices.

The U.S. Trade Gap increased 5.5 percent in November, according to the Commerce Department. This was a higher increase than anticipated and the highest reading since 2008. Exports were up 1 percent while Imports were up 1.2 percent. In addition, Wholesale Inventories increased slightly, .9 percent, in November.

Jobless Claims fell 10,000 last week as many Americans move in and out of the workforce throughout the holiday season. The four-week average of initial claims was down slightly, 750 less applicants. However, Continuing Jobless Claims rose by 63,000 to 2.1 million for the week ending December 17.

To wrap up the light news week, Chicago PMI fell 3 points in December to 54.6. The Chicago PMI is a measure of Midwest economic activity. New orders, one of the components of the index, fell 6.7 percent to 56.5. A majority of business owners expect the Trump administration to be favorable for their business.

Looking forward to the New Year and the following reports being released:

Tuesday: ISM and Construction Spending

Wednesday: Motor Vehicle Sales

Thursday: Weekly Jobless Claims and ISM Non-manufacturing

Friday: NonFarm Payrolls, Unemployment Rate, Average Hourly Earnings, Foreign Trade Balance, and Factory Orders

Thank you for your business and many wishes for a happy and very prosperous new year!