Fannie Mae, the nationwide mortgage company, opened Philadelphia Mortgage Help Center 2 days ago to provide free education and counseling to Philadelphia residents with foreclosure issues. The Center was developed in partnership with Consumer Credit Counseling Service of Delaware Valley, local community and elected officials, and area mortgage servicers.

The center is located at 399 Franklin Mills Circle in the Northeast and is the latest of nine to open across the country. The services are available only for homeowners with a mortgage owned by Fannie Mae and require an appointment, which can be made by calling 866-442-8570.

Services available at the Center include one-on-one consultations with experienced housing counselors to review mortgage loans and financing options, explain the range of options available, and help borrowers apply for loan workouts and other alternatives to foreclosure. Services are available in both English and Spanish.

“Philadelphia’s nationally recognized Mortgage Foreclosure Prevention Program has already saved more than 3,000 homeowners from foreclosure,” says Mayor Michael A. Nutter. “We welcome Fannie Mae to our region and are pleased to have another partner in the fight to keep Philadelphia families in their homes.”

Determine if Fannie Mae owns your loan
or you can call 800-7FANNIE

Just a collection of random stories and articles from the week that we found interesting and thought we’d share.

2 women wage tireless war to halt  Point Breeze townhouses (Daily News)

Boardwalk And South Street Ramp (Naked Philly)

Fishtown Shad Fest (shadfestdotorg)

Proposal for 3,000-patron live music venue in Fishtown heads to City Council (Plan Philly)

Ride the Duck returs to Delaware River (Plan Philly)

Existing-home sales perked up in March (MSNBC)

Mortgage denied: Sometimes, for no good reason (CNN Money)

Foreclosures: Is the Worst Behind Us? (National Association of Realtors)

New Philly Ad Woos Lesbians (G Philly)

HOW MUCH IS MY HOME WORTH

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courtesy of Fix Philly Taxes

In 1981 the Mayor and City Council of Philadelphia entered into a political “deal” that was supposed to correct the systemic problems by equalizing property values over six years.  Over 25 years have passed since the court-ordered deadline in their agreement…and still the system has not been fixed.

I think we all agree that the real estate tax system in Philadelphia is broken. Attempts at fixing the inequities have been by and large dismal failures. With the recent “temporary” tax increase and the Actual Value Initiative on the horizon there has been lots of discussion this week in the news.

Daily News Editorial: Property taxes: Getting past crazy

Philadelphia must justify property-tax projections

Nutter, Council pull off tax-hike switcheroo

Inquirer Editorial: Smells like a tax hike

This Is A Temporary Tax Hike, Right?

Philadelphia eyes a boost in real estate tax revenue

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Just a collection of random stories and articles from the week that we found interesting and thought we’d share.

A Little-Known Strategy for Cutting Mortgage Payments (New York Times)

10 Rittenhouse Square condo developer files Chapter 11 (Inquirer)

Big Real Estate Investors Tip Toe Back in (Inquirer)

Mortgage rates dip after weeks of rising (MSNBC)

Rent vs Buy in 2011 (Fortune)

Is West Philly the next Center City (Philly Magazine)

Philly gets $5 million grant for waterfront project (Inquirer)

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posted by janice SEARCH the Philadelphia MLS. No Registration Required!

Philadelphia real estate has performed exceptionally well this past decade. Philadelphia, despite the current downturn, came in number 2 out of the 75 largest cities in the country. The study calculated the change in home values over the last 10 years and ranked the cities by total appreciation in that time period.

 The median home value in Philadelphia has risen 121 percent, from $51,207 in October 2000 to $113,160 in October 2010. Philadelphia never quite saw the housing bubble burst the way many other major U.S. cities did, with 17 consecutive months of annualized appreciation greater than 20 percent. Home values peaked in Philadelphia in May 2007 at $120,353 and remained relatively flat for some time. However, this trend has changed in recent months, from September to October home values fell 2 percent.

Read the complete article: Top 20 Best Performing Cities of the Decade

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posted by janice SEARCH the Philadelphia MLS. No Registration Required!

Just a collection of random stories and articles from the week that we found interesting and thought we’d share.

Sheriff’s office books to undergo a forensic audit, $716 million cannot be reconciled with bank statements or other records (Inquirer)

Hiring a Lawyer for Loan-Modification Help (NY Times)

Philly Brownstoner calls it quits (Brownstoner)

Will rising mortage rates hurt housing market? (Wall Steet Journal)

Kensington’s bright side has its adherents (Inquirer)

Top 20 Best Performing Cities of the Decade: Philly is # 2!  (Zillow)

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posted by janice SEARCH the Philadelphia MLS. No Registration Required!

Just a collection of random stories and articles from the week that we found interesting and thought we’d share. And hey most of it is good news.

Philadelphia quarterly condo sales are still strong (Inquirer)

Real estate all doom and gloom? (Brownstoner)

 City of Philadelphia plans to attack neighborhood blight (Inquirer)

“Era of Less” real estate report says (Inquirer)

Home values in Center City are down a fraction of what other cities are experiencing (Inquirer)

Phila. area housing showed smaller price drops than S. Jersey since 2007 (Inquirer)

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posted by janice SEARCH the Philadelphia MLS. No Registration Required!

Just a collection of random stories and articles from the week that we found interesting and thought we’d share.

Interest rates that in any other recent era would have been considered stealing (NY Times)

Under new Pa. law, neighbors can control abandoned lots (Inquirer)

 Philadelphia Fail: $164M in Philly taxes could be missing (Bloomberg Businessweek)

Virtual staging maybe the next big tool for home sellers (NY Times)

New mortgage guidelines: 11^th hour inspection of finances (NY Times)

Center City housing market weathering downturn (Philadelphia Business Journal)

Philadelphia real estate sales, prices fall after tax credit expiration (Inquirer)

posted by janice       SEARCH the Philadelphia MLS. No Registration Required!

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