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mortgages: MONTHLY LOAN PAYMENTS GOING UP ON OCTOBER 4TH ON NEW FHA MORTGAGES - 09/01/10 07:24 AM
FHA is giving homeowners and buyers until October 4th, 2010 to lock in a low monthly mortgage insurance premium on new home loans to be financed by FHA.
After October 4th, the monthly mortgage insurance premiums will increase by nearly 65%.
Mortgage Insurance is a loan requirement of all FHA home loan borrowers.
This increase will make a significant difference in a borrower's monthly home loan payments. Currently, a buyer with a $200,000 loan pays less than $90.00 a month for the insurance. After October 4th, a new buyer of an FHA mortgaged home will pay just shy of $150.00 for the … (2 comments)
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mortgages: RASCAL MC CASKILL ADDRESSED THE FINANCIAL MELT DOWN - 12/10/08 06:34 AM
My friend of more than fifty-years, legendary disc jockey and BIG brain, Bill "Rascal" McCaskill sent me an interesting email this morning. It was a retort that someone had written that took the media to task for blaming the financial melt down on President George W. Bush and the Republican administration.
The bottom line is that the email factually pointed to the genesis of each of the issues that has caused the problem, and when and how they happened.
Economics, especially the sub-catagory "banking" is my educational forte, so I couldn't resist responding to Rascal. And then I thought maybe I should share … (11 comments)
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mortgages: Government Backed Mortgages - 07/20/08 10:07 PM
If one were to go back in time and review the sequence of events that caused the Federal Deposit Insurance Corporation and the Federal Savings & Loan Insurance Corporation to be formed, it might be eye-opening.
But you'd have to also consider the various bank and savings and loan association problems that caused it to evolve to what it is today.
Nevertheless, from almost the beginning, for a financial institution to be a member of the appropriate insurer, the institution had to be a member and pay dues based on its risk to the insurer.
If you owned a member bank … (6 comments)
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mortgages: MORTGAGE MARKET "COLLAPSE" IS NOT REALLY THE PROBLEM - 02/07/08 09:31 AM
Much is being made about the prospects of a pending recession. Politicians, media and some business people and economist are making every effort to build a case that charges the mortgage lenders, whose credit underwriting parameters are thought to have been too lax.
In some effort to make citizens feel good, and at the same time in hopes of heading off a recession, congress has plans of sending every taxpayer a check. It also is putting in place a mechanism to reduce the number of projected foreclosures.
While these are both important and need addressing, the real culprit, the one that is doing … (10 comments)
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BILL CHERRY
Dallas,
TX
More about me…
BILL CHERRY, Real Estate Broker
Address: Dallas, Tx
Office Phone: (214) 503-8563
Email Me
This is a place where the ins and outs of real estate and home ownership are discussed.
All in the light of my 46 Years as a licensed Texas Real Estate Broker.
I've represented several thousand clients. That experience can be yours, too, and it doesn't cost a dime more.
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