New Mortgage Rules Help Unemployed Homeowners
Mortgage loan servicers will be required to extend the forbearance period for unemployed homeowners to 12 months under new Federal Housing Administration (FHA) rules announced by the Department of Housing and Urban Development (HUD). The requirements will also require servicers who participate in the Making Home Affordable Program (MHA) to extend the minimum forbearance period to 12 months whenever possible. The goal is to get the mortgage industry to provide more robust assistance to unemployed homeowners who are struggling in a tough economy.
“The current unemployment forbearance programs have mandatory periods that are inadequate for the majority of unemployed borrowers,” HUD secretary Shaun Donovan says. “Today, 60 percent of the unemployed have been out of work for more than three months and 45 percent have been out of work for more than six. Providing the option for a year of forbearance will give struggling homeowners a substantially greater chance of finding employment before they lose their home.”
Fri, Jul 8, 2011 source:
Council of Residential Specialists
Why would you move to New Bern? The better question is perhaps, "Why wouldn’t you move to New Bern"? The city has so much to offer besides the mild, yet seasonal climate, making recreation a year round event!
I think it all started with "Ed TV". Most of us don’t remember the movie directed by Ron Howard, starring Matthew McConaughey. It was a movie about reality TV. The main character, Ed, signed an agreement to have a television crew film him during every aspect of his life and millions of viewers watched him, live. After much disillusionment, the only way Ed could "opt out" of his contract was to threaten to reveal a "private" implant operation of one of the male producers. It left us all thinking that reality TV was immoral and an invasion of privacy.
The title of this blog can be deceiving as are some statistics. While most real estate companies in most cities can say, "We’re still selling", the question is, "Where, to whom and how much". It is also important to know how many months supply your city has on the market, often referred to as the "absortion rate".
The Sunday Jazz Showcase brings together top talent from all over and is a highly anticipated New Bern event for the past 20 years! The performances take place at the Sheraton Hotel Ballroom. This year the tribute is to the great Jazz Artist, Benny Goodman. The date is Sunday, February 8, 2009. Tickets go quickly to this popular event. Tickets for the 1:30 pm performance are $30 for members of Craven Arts Council and Gallery and $35 for nonmembers; tickets for the 7 pm performance are $25 for members and $30 for nonmembers. Tickets are available at the Craven Art Council and Gallery, 317 Middle St. New Bern and can also be ordered by phone at 252-638-2577. To get more information go to 
While it is true that home sales have decreased in our area, we are not as dramatically hit as the rest of the country seems to be, at least in moderate price ranges. This chart, compiled by New Bern MLS data, shows that homes less than $250k are selling. More homes in this price range sold last year than are currently listed. This takes a 12 month period into account (not a true absorption figure according to some experts) but it is a good measure of what is available and what is in demand.
Halloween is celebrated by many people, old and young, and New Bern has events for everyone!
