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Jenny Talasazan's Blog

By Jenny Talasazan Realtor | Agent in San Diego County, CA
  • FLOOD INSURANCE -is it a problem?

    Posted Under: Market Conditions in San Diego County, Property Q&A in San Diego County, Home Insurance in San Diego County  |  September 16, 2011 9:47 AM  |  862 views  |  No comments

    Fewer than 10 Percent of Homeowners Affected by Irene had Flood Insurance According to new J.D. Power and Associates reports, fewer than 10 percent of homeowners in the path of Hurricane/Tropical Storm Irene carried flood insurance[1]. Even in risky areas like the Gulf of Mexico region of the country, only about a quarter of the residents carry flood insurance. Worse, now that hurricane season is in “full throttle,” J.D. Power warns that many homeowners may not be able to obtain coverage before another storm hits thanks to a 30-day waiting period between when an insurance policy is purchased and when it goes into effect. Jeremy Bowler, senior director of insurance practice at J.D. Power, fears that “many may find their claims denied” when they file damage claims in the wake of Irene.

    In the United States, flood insurance is the exclusive province of the federal government and handled by the National Flood Insurance Program (NFIP). However, in the wake of Irene the NFIP, which was already foundering thanks to Katrina, could end up going under[2]. That would leave homeowners literally defenseless when it comes to flood insurance. “Because the federal government undercut the private sector, it is now the only insurer in the floodplain management area,” explains former FEMA director Joe Allbaugh, adding that NFIP spends “most of its time in the red…because it’s another government program [where] the premiums that are charged are way under market value.”

    How do you think that flood insurance should be handled?

    From  :       REJournalOnline!


    [2] http://www.reuters.com/article/2011/08/30/us-storm-irene-flood-idUSTRE77T5M620110830



  • FLOOD INSURANCE -is it a problem?

    Posted Under: Market Conditions in San Diego County, Property Q&A in San Diego County, Home Insurance in San Diego County  |  September 16, 2011 9:46 AM  |  687 views  |  No comments

    Fewer than 10 Percent of Homeowners Affected by Irene had Flood Insurance According to new J.D. Power and Associates reports, fewer than 10 percent of homeowners in the path of Hurricane/Tropical Storm Irene carried flood insurance[1]. Even in risky areas like the Gulf of Mexico region of the country, only about a quarter of the residents carry flood insurance. Worse, now that hurricane season is in “full throttle,” J.D. Power warns that many homeowners may not be able to obtain coverage before another storm hits thanks to a 30-day waiting period between when an insurance policy is purchased and when it goes into effect. Jeremy Bowler, senior director of insurance practice at J.D. Power, fears that “many may find their claims denied” when they file damage claims in the wake of Irene.

    In the United States, flood insurance is the exclusive province of the federal government and handled by the National Flood Insurance Program (NFIP). However, in the wake of Irene the NFIP, which was already foundering thanks to Katrina, could end up going under[2]. That would leave homeowners literally defenseless when it comes to flood insurance. “Because the federal government undercut the private sector, it is now the only insurer in the floodplain management area,” explains former FEMA director Joe Allbaugh, adding that NFIP spends “most of its time in the red…because it’s another government program [where] the premiums that are charged are way under market value.”

    How do you think that flood insurance should be handled?

    From  :       REJournalOnline!


    [2] http://www.reuters.com/article/2011/08/30/us-storm-irene-flood-idUSTRE77T5M620110830



  • FLOOD INSURANCE -is it a problem?

    Posted Under: Market Conditions in San Diego County, Property Q&A in San Diego County, Home Insurance in San Diego County  |  September 16, 2011 9:46 AM  |  678 views  |  No comments

    Fewer than 10 Percent of Homeowners Affected by Irene had Flood Insurance According to new J.D. Power and Associates reports, fewer than 10 percent of homeowners in the path of Hurricane/Tropical Storm Irene carried flood insurance[1]. Even in risky areas like the Gulf of Mexico region of the country, only about a quarter of the residents carry flood insurance. Worse, now that hurricane season is in “full throttle,” J.D. Power warns that many homeowners may not be able to obtain coverage before another storm hits thanks to a 30-day waiting period between when an insurance policy is purchased and when it goes into effect. Jeremy Bowler, senior director of insurance practice at J.D. Power, fears that “many may find their claims denied” when they file damage claims in the wake of Irene.

    In the United States, flood insurance is the exclusive province of the federal government and handled by the National Flood Insurance Program (NFIP). However, in the wake of Irene the NFIP, which was already foundering thanks to Katrina, could end up going under[2]. That would leave homeowners literally defenseless when it comes to flood insurance. “Because the federal government undercut the private sector, it is now the only insurer in the floodplain management area,” explains former FEMA director Joe Allbaugh, adding that NFIP spends “most of its time in the red…because it’s another government program [where] the premiums that are charged are way under market value.”

    How do you think that flood insurance should be handled?

    From  :       REJournalOnline!


    [2] http://www.reuters.com/article/2011/08/30/us-storm-irene-flood-idUSTRE77T5M620110830



  • Does anyone know about Realty Bargains Lead company

    Posted Under: Market Conditions in San Diego County, Tech Tips in San Diego County, Agent2Agent in San Diego County  |  September 15, 2011 1:23 PM  |  1,016 views  |  4 comments
    Hello, I was wondering if anyone has used the website for realty Bargains. They want 60 dollars a month. Is this worth it. they said I would get about 10 buyers or sellers on average a month. Anyone close any deals or know if this is a reputable company. I spoke to Bruce Williams at 5166849900. He also said NO contract. If anyone has time to check it out or has feed back I would appreciate it!
  • People are getting Great Modifications!

    Posted Under: Market Conditions in San Diego County  |  January 11, 2010 1:43 PM  |  455 views  |  No comments
    Fannie and Freddie Implement 405,700 Loan Mods D.C. Watch

    The Federal Housing and Finance Agency (FHFA) announced that as of November of last year, the GSE’s Fannie Mae and Freddie Mac implemented 405,700 trial and permanent loan modifications under the Administration's Home Affordable Modification Program (HAMP) and refinanced 4 million loans, according to a recent report.



    The FHFA’s report details the actions taken by Fannie Mae and Freddie Mac to prevent foreclosures.

    According to the report, foreclosure starts for the GSEs declined in the third quarter by 15%.

    The amount of loan modifications done outside of HAMP increased 14% to 36,700 from 32,300 in the third quarter.

    The report also shows that somewhere around half of the loan modifications completed in the third quarter, not including HAMP trial modifications, ended in borrowers' payments declining by more than 20 %.

    The FHFA also reported delinquencies in the GSE portfolios showing loans that were only one month delinquent rose by 52,000 loans or nearly 8% in the third quarter to 734,000.

    Delinquent loans that were overdue 60 days or more increased by 20% to 1.6 million.

    “A number of these loans are in some form of foreclosure prevention relief, such as an active HAMP trial modification, but remain in a delinquent status until the execution of a HAMP permanent modification or successful completion of an active repayment or forbearance plan,” the report states.

    Also in the report was data on short sales and deeds in lieu that increased by 39% during the third quarter from 12,300 to 17,400.

    posted from mortgage ledger


 
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