Residential Real Estate

WASHINGTON – As part of the Obama Administration’s effort to prevent and effectively end homelessness, the U.S. Department of Housing and Urban Development announced today that it will offer $1.9 billion for fiscal year 2015 to support existing and new homelessness programs. Funded throughHUD’s Continuum of Care (CoC) Homeless Assistance Program Notice of Funding Availability (NOFA), this notice will further incentivize local applicants to pursue permanent housing using a Housing First approach to target their resources to proven strategies.

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Are you looking for ways to find new investors for your project?  What if you could provide something better than a return.  If you have ever been to a GDF seminar, then you know that the three major components to any funding deal are:

1.  Job Creation

2. Provides Economic Development Activities

3.  Shovel Ready

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WASHINGTON – The U.S. Department of Housing and Urban Development today announced $29 million in grants to help approximately 1,200 extremely low-income persons and families living with HIV/AIDS annually. These grants provide a combination of housing assistance and supportive services for this vulnerable population.

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Guidance allows lenders to assign loan to HUD and keep non-borrowing spouse in the home


WASHINGTON – The Federal Housing Administration (FHA) today issued a new policy under its Home Equity Conversion Mortgage (HECM) Program giving FHA-approved lenders the option to delay calling HECMs with eligible  ‘non-borrowing spouses’ due and payable.  A delay would postpone foreclosure normally triggered by the death of the last surviving borrower.   FHA’s new guidance will allow reverse mortgage lenders to assign eligible HECMs to HUD upon the death of the last surviving borrowing spouse, thereby allowing eligible surviving spouses the opportunity to remain in the home despite their non-borrowing status.


Last year, FHA amended its HECM policies to allow for the deferral of foreclosure, or ‘due and payable status’ for certain Eligible Non-Borrowing Spouses for case numbers assigned on or after August 4, 2014.  Today’s action allows lenders to offer similar treatment for eligible HECMs and Eligible Non-Borrowing Spouses with FHA case numbers issued before August 4, 2014.


Under FHA’s new policy, lenders will be allowed to pursue claim payments for HECMs with Eligible Surviving Non-Borrowing Spouses and Case Numbers assigned before August 4, 2014 by:


  • Allowing claim payment following sale of the property by heirs or estate;
  • Foreclosing in accordance with the terms of the mortgage, and filing an insurance claim under the FHA insurance contract as endorsed; or
  • Electing to assign the HECM to HUD upon the death of the last surviving borrower, where the HECM would not otherwise be assignable to FHA. (The MOE Assignment)


By electing the Mortgagee Optional Election Assignment, lenders will be permitted to modify their FHA mortgage insurance contracts to permit assignment of an eligible HECM to HUD despite the HECM being eligible to be called due and payable as a result of the death of the last surviving borrower.

Read FHA’s new mortgagee letter.

WASHINGTON – U.S. Housing and Urban Development Secretary Julián Castro today announced the Federal Housing Administration (FHA) will reduce the annual premiums new borrowers will pay by half of a percent.  This action is projected to save more than two million FHA homeowners an average of $900 annually and spur 250,000 new homebuyers to purchase their first home over the next three years.

Today’s action also reflects the improved economic health of FHA’s Mutual Mortgage Insurance Fund (MMIF).  FHA’s recent annual report to Congress demonstrates the economic condition of the agency’s single-family insurance fund continues to improve, adding $21 billion in value over the past two years.

“This action will make homeownership more affordable for over two million Americans in the next three years,” said U.S. Department of Housing and Urban Development Secretary Julián Castro.  “Since 2009, the Obama Administration has taken bold steps to reduce risks in the mortgage market and to protect consumers.  These efforts have made it possible to take this prudent measure while also ensuring FHA remains on a positive financial trajectory.  By bringing our premiums down, we’re helping folks lift themselves up so they can open new doors of opportunity and strengthen their financial futures.”

In the wake of the nation’s housing crisis, FHA increased its premium prices to stabilize the health of its MMI Fund.  In addition, the Obama Administration took dramatic steps to safeguard consumers in the mortgage market to ensure responsible borrowers continued to have access to mortgage capital as many private lending sources tightened their lending standards.

Today’s reduction will significantly expand access to mortgage credit for these families and is expected to lower the cost of housing for the approximately 800,000 households who use FHA annually.

FHA’s new annual premium prices are expected to take effect towards the end of the month. FHA will publish a mortgagee letter detailing its new pricing structure shortly.

The City of Fremont (City) is announcing a Notice of Funding Availability
(NOFA) for the creation of affordable rental housing in Fremont.

Approximately $8.0 million in funding is available to support predevelopment, acquisition and construction or rehabilitation of affordable housing.  The funding is intended to fill the financing gap between a project’s total development cost and other available financing sources.

The funding available through this NOFA is for capital costs only; no financing is available to fund operating subsidies or supportive services. It should be noted that if additional housing funds become available to the City during the NOFA evaluation process, the amount awarded through this NOFA may also increase.
Qualified affordable housing developers that can meet the NOFA requirements
and demonstrate their ability to finance, design, build/rehabilitate and manage affordable housing are encouraged to submit proposals. All proposals must be received by February 13, 2015.  Applications submitted after the deadline will not be considered. Funding will be awarded by the City on a competitive basis to the project or projects that provide the best opportunity to address the City’s affordable housing needs.

The City reserves the right to request that Applicants submit additional information as may be requested by staff to clarify submitted information. Also, the City reserves the right to reject any and all proposals for any reason, and at its sole discretion.

Click here for more information.


​​​The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to begin setting aside and allocating funds to the Housing Trust Fund and the Capital Magnet Fund pursuant to the Housing and Economic Recovery Act of 2008 (HERA).   HERA authorized FHFA to temporarily suspend these allocations, and FHFA informed Fannie Mae and Freddie Mac of a temporary suspension on November 13, 2008.  In letters sent today (links below), FHFA notified Fannie Mae and Freddie Mac of the agency’s decision to reverse the temporary suspension.

Separately, FHFA sent to the Federal Register an Interim Final Rule to address the statutory requirement that the allocations may not result in transferring their expense to originators or other Enterprise counterparties.  The Interim Final rule is effective upon publication and has a 30-day comment period.

2015 Loan limits for highest and lowest cost areas to remain unchanged

WASHINGTON - The Federal Housing Administration (FHA) today announced the agency's news schedule of loan limits for 2015. These loan limits are effective for case numbers assigned on or after January 1, 2015, and will remain in effect through the end of the year.

FHA's calculation for maximum loan limits in high cost metropolitan areas of the country will remain the same as the 2014 level of $625,500. The current standard loan limit for areas where housing costs are relatively low will also remain unchanged at $271,050.

Each year, FHA recalculates its national loan limit based on a percentage calculation of the national conforming loan limit. Depending on those limits, FHA's minimum national loan limit "floor" is at 65 percent of the national conforming loan limit. The floor applies to those areas where 115 percent of the median home price is less than 65 percent of the national conforming loan limit.

Conversely, any area where the loan limit exceeds the "floor" is considered a high cost area. The maximum FHA national loan limit "ceiling" is at 150 percent of the national conforming limit. In areas where 115 percent of the median home price (of the highest cost county) exceeds 150 percent of the conforming loan limit, the FHA loan limits remain at 150 percent of the conforming loan limit.

Areas are eligible for FHA loan limits above the national standard limit, and up to the national ceiling level, based on median area home prices. Additional information and loan limit adjustments for two-, three-, and four-unit properties, and in Special Exception Areas, are noted in FHA's mortgagee letter. An attachment to the Mortgagee Letter provides information on which counties are eligible for loan limits above the national standard. Borrowers with existing FHA insured mortgages may continue to utilize FHA's Streamline refinance program regardless of their loan balance.

The mortgage loan limits for FHA-insured reverse mortgages will also remain unchanged. The FHA reverse-mortgage product, known as the Home Equity Conversion Mortgage (HECM), will continue to have a maximum claim amount of $625,500, with actual loan limits based on property value, borrower age, and current interest rates. Reverse mortgages allow homeowners age 62 and older to age in place by borrowing against the value of their homes without any requirements for monthly payments; no repayment is required as long as a homeowner lives in the home. The reverse mortgage is repaid, with interest, when the homeowner leaves the home.

WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today announced enhancements to programs under Making Home Affordable (MHA) to better assist struggling homeowners and communities still recovering from the effects of the financial crisis. The enhancements are designed to motivate homeowners in MHA to continue making their mortgage payments on-time, strengthen the safety net for those facing continuing financial hardships, and help homeowners in MHA programs build equity in their homes, an important factor in stabilizing neighborhoods.

"Today's announcement signals our commitment to helping more hardworking families continue the American dream of homeownership," said Secretary of Housing and Urban Development Julián Castro. "These enhancements will expand the opportunity for more folks to stay in their home, stabilizing local communities and continuing our nation's positive economic momentum."

"While the housing sector has strengthened in recent years, there are still many homeowners struggling to make their mortgage payments," said Secretary of the Treasury Jacob J. Lew. "The changes we are announcing today offer meaningful incentives for borrowers to stay current in their modifications, increase their opportunity to build equity in their homes, and provide vital safety nets for those facing greater financial strains."

Treasury and HUD established HAMP (Home Affordable Modification Program®) in 2009 to provide relief to homeowners facing financial hardship. Through a combination of lowered interest rates and modified loan terms, monthly payments are reduced to affordable levels. In addition, many homeowners who remain current following their modification are eligible to earn up to $5,000 over the first five years of their modification, which is applied in repayment of their outstanding principal balance.

Under the revised guidelines announced today, all homeowners in HAMP will now be eligible to earn $5,000 in the sixth year of their modification, which will reduce their outstanding principal balance by as much as $10,000. Homeowners will also be offered an opportunity to re-amortize the reduced mortgage balance, which will have the effect of lowering their monthly payment. As of today, approximately one million homeowners with HAMP modifications are eligible to earn the increased HAMP incentive.

In addition, in an effort to bolster the safety net for homeowners who face difficulty making their payments in HAMP Tier 1 or similar non-HAMP modifications, Treasury and HUD have introduced enhancements to HAMP Tier 2 and the Home Affordable Foreclosure Alternatives® (HAFA) Program.

HAMP Tier 2 is an alternative modification that provides a low fixed rate for the life of the loan to homeowners who do not qualify for or cannot sustain a HAMP Tier 1 modification. The enhancements announced today include reducing the interest rate for HAMP Tier 2 by 50 basis points, which will enable more homeowners to qualify for a modification, and extending the $5,000 pay-for-performance incentive to HAMP Tier 2 borrowers in good standing at the end of the sixth year of their modification.

HAFA assists homeowners who need to transition to a more affordable living situation through a short sale or deed-in-lieu. Treasury and HUD announced today that they have increased the amount of relocation assistance provided to homeowners to $10,000 to better reflect increased rents and the cost of moving in many parts of the country.

If you are a homeowner in need of mortgage assistance, please visit to explore all options available to help you avoid foreclosure.

You can also contact Government Deal Funding to see if we can help.

Special Personal Cost Savings Report From Government Deal Funding!

People around the world, and around the country, are becoming less complacent about the choices they make. They are beginning to understand that some of the decisions they've made in the past were wrong and need to be changed. They are beginning to understand the renewable energy advantages.

Things like solar power and wind power are clean, renewable, and very cost effective for household use. As technology advances the advantages to these types of energy sources will only increase.

As we find even more advanced methods for converting energy from the wind and sun into power and learn more effective ways to store that power, we will dramatically increase the usefulness of these methods.

Many people are installing their own solar panels and wind turbines today, and both can effectively cut your energy bill as well as the negative impact of using fossil fuels for electricity.

Here is a list some some of the advantages to implementing renewable resources into your household:

1. By providing even a portion of your electricity needs using solar power and/or installing a wind turbine you can cut your utility bill by up to 80%. When you calculate what that would be over the course of years you will see that the savings is significant.

2. The more you can contribute to your own energy needs with renewable energy sources, the less of the pollutant rich fossil fuels you will have to use.

3. Neither wind nor solar power pollutes the environment with their use.

I know some of these things may seem obvious but it's important enough to be reiterated. If you want to help the planet and save money at the same time you owe it to yourself to do a little more research into renewable energy advantages. Saving money while saving the planet: there just isn't a downside.