ForeclosureListService.com has posted the number of new default listings, plus sale auctions and REOs, for June. The numbers are holding steady compared to first 5 months of 2009, but substantially higher than historical norms. Later this week we’ll post the sales and price statistics to see how these foreclosures are affecting price points.

FEMA is proposing changes to boundary areas for 100 year flood zones that primarily affect the Oxnard area. Homes that are in these areas will be required to obtain flood insurance. There will be a community meeting at 7 p.m. on July 8th at the Oxnard High School Performing Arts Center at 3400 W. Gonzales Road. Here is FEMA’s fact sheet, and here is their map (9.5 MG).

HUD yesterday announced that homes can now be “underwater” up to 125% (compared to the previous 105% limit) of value and still qualify for the Home Affordable Refinance program established earlier this year by the Obama administration. This applies to borrowers current on their payments who have loans currently owned or guaranteed by Fannie Mae or Freddie Mac. Read HUD’s press release for more details.

Taking a page from the auto industry, and to help provide first-time home buyers with peace of mind when purchasing a home, the California Association Of Realtors® Housing Affordability Fund (C.A.R.H.A.F.) is offering a free supplemental insurance product for qualified first time homebuyers.  Through this program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month, for six months, to help make their mortgage payments, and qualified co-buyers can receive  $750. Questions? Call and ask me about this!