Christian's Blog

Obama announces new FHA Refinance Program

Homeland Financial — Tue, 06 Mar 2012 11:47:11 -0800

President Obama announced today that FHA will lower its upfront and annual mortgage insurance premiums for it's streamline refinance program. This is big news for homeowners who currently have an FHA loan and have been shut out of the refinance market and historically low interest rates.

FHA increased it's annual mortgage insurance premium (which is paid on a monthly basis) for loans they insure from 0.55% to 0.90% in October of 2010 and again in April of 2011 to the current rate of 1.15% more than double what it was previously. Many homeowners with mortgages they took out prior to October 2010 who could have saved a significant amount of money by refinancing into a lower rate saw those savings wiped out by the increased mortgage insurance premium.

The latest plan reduces the costs on up-front FHA mortgage insurance premiums to 0.01 percent from 1 percent of a borrower's loan balance for refinancing under the "streamline" program. It also cuts the annual mortgage insurance premium fee for these loans to 0.55 percent. The new fees will apply to borrowers refinancing with original loans taken out before June 1, 2009.

With mortgage rates hovering around 4 percent, the administration estimates a typical FHA borrower with $175,000 outstanding on their loan could save $100 a month by refinancing into the streamline refinance with the lower insurance premium fees. The new lower mortgage insurance premiums will take effect on June 11, 2012.

White House Fact Sheet on FHA Refi Fee Changes.

HUD Press Release 12-045

Independent Foreclosure Review

Homeland Financial — Tue, 24 Jan 2012 11:57:45 -0800

The following information was compiled and copied from the the Office of the Comptroller of the Currency (OCC) website: http://www.occ.gov.

As part of a consent order with federal bank regulators, the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS) (independent bureaus of the U.S. Department of the Treasury), and the Board of Governors of the Federal Reserve System, fourteen mortgage servicers and their affiliates are identifying customers who were part of a foreclosure action on their primary residence during the period of January 1, 2009 to December 31, 2010.

The Independent Foreclosure Review is providing homeowners the opportunity to request an independent review of their foreclosure process. If the review finds that financial injury occurred as a result of errors, misrepresentations or other deficiencies in the servicer’s foreclosure process, the customer may receive compensation or other remedy.

Borrowers may also visit www.IndependentForeclosureReview.com for more information about the review and claim process. Assistance with the form and answers to questions about the process are available at 1-888-952-9105, Monday through Friday from 8 a.m. to 10 p.m. (ET) and Saturday from 8 a.m. to 5 p.m. (ET). Requests for review must be received by April 30, 2012.

Watch out for scams - there is only one Independent Foreclosure Review. Beware of anyone who asks you to pay a fee for any foreclosure review service, such as completing the Request for Review Form.

For additional information, visit the following links:

OCC website announcement
Independent Foreclosure Review info website

Tax consequences of a short sale

Homeland Financial — Thu, 05 Jan 2012 13:22:38 -0800

Did you or someone you know just receive a 1099-C form from their previous mortgage company after a short sale? If you owed more on your house than what you sold it for through a short sale, the excess amount of the loan balance above the sales price may be forgiven by the lender. The forgiven amount is considered cancellation of debt (COD) income for federal income tax purposes. As an example: Your current mortgage balance is $200k. You execute a short sale and sell the house for $150k. You still owe the bank $50k. This $50k may be forgiven by your lender. If it is forgiven, the forgiven amount is considered income for your tax filing purposes. But there is some good news.

The Mortgage Debt Relief Act of 2007 allows taxpayers to exclude the income from the discharge of debt as long as the property sold in the short sale was their primary residence. The act applies to debt forgiven in calendar years 2007 through end of 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). For additional info, please visit the IRS website: Ten facts for Mortgage Debt Forgiveness.

You still have to report the forgiven debt as income on your personal tax return but you must file IRS form 982 to exclude this as part of your income. As always, consult a certified tax professional to seek advise for your particular situation.

A holiday present from the Congress hidden in the Payroll Tax Bill

Homeland Financial — Tue, 20 Dec 2011 10:50:06 -0800

A holiday present from the Congress hidden in the Payroll Tax Bill

In the haste to create an Payroll Tax Cut bill that would allow the passage of funding bill that would keep the government running and protect the payroll tax cut, not too many of us noticed that Title IV of HR 3630 is all about increasing guarantee fees charged by Fannie Mae, Freddie Mac and the FHA for packaging MBS’s to lenders.

IMMAAG thanks a Colorado originator and broker company owner, Don Opeka for his heads up on this quiet little “tax”.

The GSE’s charge an upfront and an on-going guarantee fee for packaging securities. These fees help cover the costs associated with the process and provide some modest amount of “insurance” when pools don’t perform well. The average upfront fees have ranged from 5 basis points (bps) in 2007 to 10 bps in 2010, or about $100 to $200 per $200,000; while the on-gong fees have gone from an average of 17 bps in 2007 to 14 bps in 2010. These guarantee fees are charged to protect the GSEs’ income statement and provide some degree of profit on their MBS activity.

House bill (HR-3630) which was passed to keep the government funded provides for an incremental “minimum” guarantee fee of 10 bps to be added to all MBS’s offered by the GSE’s. It also provides a mandated similar increase in FHA annual guarantee fees of no less than 10 bps on the remaining balances.

A major difference between these new “guarantee” fees and the historic guarantee fees is that the money generated will be deposited directly in the Treasury. It will be part of the general fund and become available only as directed under future appropriations acts. So, the bill may call them guarantee fess, but they guarantee nothing except that homeowners ultimately will bear this new, non-trapnsparent tax increase. And, the only contributor to the funds will be homeowners or prospective homeowners who have mortgages. Yes, the fees are paid by the lenders, but we know that the fees will be covered ultimately by the overall cost of a mortgage. Unlike property taxes which at least are tied to the community, these taxes stay at the Federal level without any specifically designated use.

The mandated minimum 10 bps increase more than doubles the average upfront guarantee fee that already exists and according to the Federal Housing Finance Agency’s 2011 guarantee fee report issue in September 2011 the minor impact of the HARP volume should not require this or any other material increase to maintain the soundness of the guarantee program. The 10 bps is a 71% increase on the 2010 average fee of 14 bps for on-going fees and occurs during a time when the portfolios are getting stronger and performing better.

So, one can only conclude the purpose of this new tax is to find yet a new source of funds, provide no transparency in doing so, make the GSE’s less competitive and give the largest lenders a better chance to portfolio loans and create a private market to replace, not just supplement the GSEs’ liquidity role. That may be a supportable objective, but it seems the appropriations process is not the place to introduce it and the clandestine approach violates the committed to “transparency” we hear so much about.

Reprinted from IMMAAG

HUD Emergency Homeowners' Loan Program (EHLP)

Homeland Financial — Thu, 14 Jul 2011 11:42:42 -0700

Act Fast for Mortgage Bail-Out

By Kathy Kristof | Jun 21, 2011
moneywatch.com

Consumer advocates are famous for saying that if an offer seems too good to be true, it is and you should avoid it. Just this once, ignore that advice.

If you’re a homeowner struggling to make mortgage payments because you are unemployed or underemployed, the federal government has just launched a program to help. The Emergency Homeowner Loan Program, or EHLP, will provide zero-interest loans of up to $50,000 to pay your mortgage, property tax and insurance bills for up to two years.

The program will essentially subsidize your mortgage payments, allowing you to pay just 31% of your income or $150, whichever is greater. EHLP will pay the balance. Homeowners can receive this help for up to 24 months, or until they run through the maximum EHLP loan amount of $50,000.

No payments are due on the 5-year term of these loans as long as the borrower continues to meet the program requirements. Better yet, if you do meet all the conditions of the program, your loan will be forgiven in 20% increments each year, essentially turning the loan into grant over five years.

But you’ve got to act fast. Homeowners only have until July 22, 2011 to submit pre-screening applications for this money. There is $1 billion available. When the money is spent, the program is over, says Ruth Susswein, deputy director for national priorities at Consumer Action.

“Because this is being done in such a rush and the offer is so good, it seems like you’re hitting every warning sign that this is a scam,” Susswein said. “But in this rare case, it happens to be true. There is help out there. But you have to act fast to get it.”

The just-launched Emergency Homeowner Loan Program is just the latest in a series of government programs aimed at easing the national housing crisis that left roughly 10% of the nation’s homeowners struggling to make mortgage payments. Where previous programs offered to “modify” loans for those who had been subjected to deceptive predatory loans, help was needed for homeowners who had simply lost jobs and were struggling to make ends meet, Susswein says.

Last year, the government moved to provide about $2 billion in help to homeowners in states that had been hardest hit by unemployment and sliding home prices, including Arizona, California, Florida, Michigan and Nevada. However, homeowners in the states that didn’t qualify for these “hardest-hit” funds were left high and dry. EHLP was designed to fill the gap by providing funds for homeowners in the remaining 32 states, she says.

Who qualifies

To qualify for the EHLP program you must live in one of the 32 states affected by the program and have experienced at least a 15% decline in income due to a job loss or serious illness, leaving you at risk of losing your home.

Those 32 states are: Alaska, Arkansas,Colorado, connecticut, Delaware, Hawaii, Idaho, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, Pennsylvania, Puerto rico, South Dakota, Texas, Utah, Vermont Virginia, Washington, West Virginia, Wisconsin and Wyoming.

If you are at risk of losing your home, but live in a state that doesn’t qualify for EHLP, you may still be able to get help, but it would be through a different program. (More on that below.)

What you should do now

If you are in one the 32 states that qualify for the EHLP program, go to www.findehlp.org or call 855-346-3345. Be patient. The website appears to be overwhelmed, so it’s loading exceptionally slowly. When I called the phone line earlier today, the phone operators were also “helping other customers.”

The best time to get through to the web site may well be in the middle of the night or very early in the morning. (By the way, be careful of typos in the web address. The above link will get you to a site offered by NeighborWorks America. If you mistype the address as “findhelp,” you’ll get a commercial site that is not affiliated with this program.)

If your state is not listed here, it’s likely among the “hardest-hit” states and offers help through the hardest-hit program, which is operated on a state-by-state basis. You can find your state’s hardest-hit program here.

You will need to fill out the relevant applications and gather documents, including recent mortgage statements; a written notice from your employer, showing your termination or cut in pay; a notice from your lender, saying you’re at risk of foreclosure; tax returns for the past two years; citizenship documents (such as a passport or birth certificate); and documentation of current income, such as a pay stub.

Hurry. And good luck.

Gas prices prompt IRS to raise mileage rates

Homeland Financial — Fri, 24 Jun 2011 10:40:34 -0700

Tax agency hikes standard rate for deducting driving costs

By Andrea Coombes, MarketWatch

SAN FRANCISCO (MarketWatch) — Higher gas prices prompted the IRS to make an unusual midyear hike to the standard mileage rate used to deduct the cost of business-related driving, the tax agency said Thursday.

The rate will jump to 55.5 cents per mile for travel in July through December, a 4.5 cent hike from 51 cents a mile for driving in January through June.

The rate for driving for medical purposes or for a job-required move also rose, to 23.5 cents for the second half of the year, from 19 cents in the first six months of 2011.

“This year’s increased gas prices are having a major impact on individual Americans. The IRS is adjusting the standard mileage rates to better reflect the recent increase in gas prices,” said IRS Commissioner Doug Shulman in a press release. “We are taking this step so the reimbursement rate will be fair to taxpayers.”

The announcement came the same day the International Energy Agency said it will tap emergency reserves of crude oil; after the IEA’s announcement, crude-oil futures prices plunged. Read more about the IEA tapping oil reserves.

Read blog on three reasons why oil-reserve release is bad news.

Generally the IRS adjusts the mileage rate once a year, though the tax agency made a similar midyear change in 2008, pushing the rate then to 58.5 cents a mile, an 8 cent hike from 50.5 cents in the first half of that year. In 2010, the mileage rate was just 50 cents, down from 55 cents in 2009.

Reuters

A gallon of regular unleaded gas costs $3.61 on average nationwide, up from $2.74 a year ago, though that varies widely by state, according to a daily report from AAA, the travel group. In California, Connecticut, Illinois and New York, for example, a gallon averages between $3.80 and $3.90. In Alaska and Hawaii it tops $4. See the report on AAA’s site.

Taxpayers can choose to keep track of their precise expenses or use the standard mileage rate when calculating their business costs.

The standard mileage deduction is limited to companies using four or fewer vehicles. For larger companies ineligible to take the deduction, the IRS standard mileage figure is widely used as a benchmark in setting reimbursement rates for employees’ driving expenses.

To determine the mileage rate, the IRS hires an independent researcher to analyze driving costs, including fuel prices, car maintenance and registration.

The mileage rate for deducting driving costs related to charitable work is 14 cents a mile, as it has been for years. That rate is set by the U.S. Congress.

Andrea Coombes is MarketWatch's personal finance editor, based in San Francisco.

FHA annual mortgage insurance premium to increase in April.

Homeland Financial — Mon, 14 Feb 2011 16:53:19 -0800

HUD announced today that it will increase the annual mortgage insurance premium by 0.25% on all 30 yr and 15 yr loans. The upfront MIP will remain unchanged at 1.0 percent. The new annual premium will be effective for all loans with case numbers on or after April 18, 2011. Below are examples and the impact of the change. The end result is an increase in overall payment for the borrower.

The full mortgagee letter pertaining to the increase can be found on HUD's website: FHA Mortgagee Letter 11-10.

Homestead Exemption and Property Tax info

Homeland Financial — Thu, 20 Jan 2011 12:08:28 -0800

Homestead Exemption and Property Tax help:

Following are very important homestead exemption and property valuation assessment dispute information. I hope that the information I provide is useful. I am proving links to homestead exemption info per county. Most of Metro Atlanta counties are listed. Some web links may be broken due to county website updates. Please contact me and I will help you track down the proper websites and updated links.

What is homestead and what is needed to apply?

Homestead is a property tax reduction program, intended to keep taxes lower on owner-occupied homes.

In order to receive homestead exemption, you must present proof of ownership, complete a homestead application and provide the social security number of all owners. You must be listed as the owner on county tax records.

Who qualifies?

Those who own and occupy the property as their primary residence as of January 1 of the year for which application is made.

When should you apply?

You must apply by March 1 to receive credit on the current year tax bill. Applications received after March 1 will be processed for the following year.

Are there any special homestead exemptions?

Yes, for blind, disabled or paraplegic veterans, senior citizens and some people in military service. If all owners do not occupy the property, a partial homestead exemption may be given.

How often must I file?

Once, unless a form is mailed to you by the Assessor. If you receive an application, it is important that you complete it and return it to the address on the form.

Where can I file?

You should receive an application in the mail by February 1. If you do not receive an application in the mail, contact your county tax commissioner’s office for an application and for any additional questions.

The property valuation assessment dispute starts first with the filing of a “Taxpayer’s Return of Real Property”. Obtain the form, write in your estimated “Fair Market Value” and mail it to your county's tax assessor’s office. Upon reviewing the submitted return, your county's tax assessor’s office will either agree or disagree with your “fair market value”. If they do not accept your stated value, they will issue a “Notice of Change of Assessment”. This notice will inform you of the valuation the county will use to calculate your tax for the current tax year. If you disagree with this value, you will then have the right to appeal. Instructions on how to appeal will be included with the notice. If they accept your valuation, the “Notice of Change of Assessment” will not be issued and taxes will be adjusted based on the fair market value you submitted. Below are the links to the “Taxpayer’s Return of Real Property” by county.

One tip in filling out the Property Tax Return is to search for your tax bill online with the county. The tax bill will contain your Map and parcel ID plus partial legal description of your property. Use this information to complete the Property Tax Return. You do not have to break down your estimated value by “land” and “improvements”. Simply fill out a total estimated value in the “total” section. Remember you must file by March 1. Make sure to mail the return via Certified Mail. Please contact me if you need additional information or clarification. Good luck!

Cobb County:
Property tax Info search: Cobb County Tax Bill Search
Homestead Exemption: Cobb County Homestead Exemption Forms
Real Property Return: Cobb County Real Property Return Forms

Cherokee County:
Property tax Info search: Cherokee County Tax Bill Search
Homestead Exemption: Forms available at county tax commissioner’s office :
2780 Marietta Highway Canton 30114 : 678.493.6400
Real Property Return: Cherokee County Real Property Return Forms

Clayton County:
Property tax Info search: Clayton County Tax Bill Search
Homestead: Clayton County Homestead Exemption Forms
Real Property Return: Clayton County Real Property Return Forms

Dekalb County:
Property tax Info search: Dekalb County Tax Bill Search
Homestead: Dekalb County Homestead Exemption Forms
Real Property Return: Dekalb County Real Property Return Forms

Fulton County:
Property tax Info search: Fulton County Tax Bill Search
Homestead: Fulton County Homestead Exemption Forms
Real Property Return: Fulton County Real Property Return Forms

Forsyth County;
Property tax Info search: Forsyth County Tax Bill Search
Homestead: Forsyth County Homestead Exemption Forms
Real Property Return: Forsyth County Real Property Return Forms

Gwinnett County;
Property tax Info search: Gwinnett County Tax Bill Search
Homestead: Gwinnett County Homestead Exemption Forms
Real Property Return: Gwinnett County Real Property Return Forms

Hall County;
Property tax Info search: Hall County Tax Bill Search
Homestead: Hall County Homestead Exemption Forms
Real Property Return: Forms available at county tax assessor’s office:
300 Henry Ward Way, Suite 203 Gainesville, GA 30501 : 770.531.6720

Homeland Financial is proud to display the "Lending Integrity" seal of approval. This seal identifies Homeland Financial as meeting the Highest Ethical Lending Standards. Georgia Residential Mortgage Licensee NMLS: 150504/162627

What the new tax bill means for you

Homeland Financial — Fri, 17 Dec 2010 12:26:15 -0800

Dec. 17, 2010, 7:19 a.m. EST

What the new tax bill means for you

By Jennifer Waters, MarketWatch

CHICAGO (MarketWatch) -- The new tax bill now on its way to President Obama for his signature will save every American from a number of tax hikes that would have begun Jan. 1 and will add more than a year of benefits for those who are long-term unemployed.

But there are plenty of other tax perks in the bill, most of which extend breaks already in place. Here’s a rundown:

Marginal tax rates

Federal income-tax rates, which were lowered under the Bush tax plans of 2001 and 2003 and scheduled to end Dec. 31, will remain in place through 2012. Had Congress and President Obama not reached a compromise on the tax bill, everyone’s taxes would have risen Jan. 1. That includes an extension of lowered capital-gains taxes for investors.

Unemployment benefits

Long-term unemployment benefits get extended for 13 months.

Estate tax

Among Obama’s concessions to Republicans is a 35% tax levied on an inheritance of $5 million or more. If no estate provision had been passed, wealthy families would have been hit with a 55% tax on an inheritance of $1 million or more beginning Jan. 1, according to the Tax Institute at H&R Block. House Democrats originally balked at the provision, seeking a higher tax on the wealthiest estates.

Social Security tax holiday

The so-called payroll tax holiday stays put too, meaning employees who pay 6.2% in Social Security taxes out of each paycheck will pay just 4.2% for the next year on wages up to $106,800.

Making Work Pay

The “Making Work Pay,” which was part of the 2009 Recovery Act, is set to expire Dec. 31 and will not be renewed. The credit was worth $400 to taxpayers making $75,000 or less ($800 to couples earning under $150,000).

Alternative minimum tax

The alternative minimum tax patch continues into 2011 and the exemptions increase slightly, according to Bankrate.com. For married joint filers, the 2011 threshold is at $74,450; it’s $48,450 for single or head of household taxpayers and $37,225 for married taxpayers filing separate returns.

Tax breaks for families

The $1,000 per child tax credit stays through 2012 rather than reverting to $500 per child. The credits begin to phase out for singles with adjusted gross income of $75,000 and $110,000 for married couples.

The tax credit of up to $3,000 for dependent care for children under 13 sticks too. If the kids are now in college, the $2,500 “American Opportunity Credit” for the first four years is available for anyone with a salary of $90,000 or less.

Marriage penalty relief

Marriage still gets a reprieve. The Bush tax law aimed at fixing the so-called marriage penalty is extended to 2012. Before the 2001 tax changes, married couples got better deductions filing separately rather than in a joint tax return. Since then, the standard deductions for joint filers was double than that for individuals.

Without these, joint filers with taxable incomes at $57,000 and above would have faced a tax increase in 2011, according to the Tax Institute.

Other breaks

A number of additional energy- and business-related tax credits were also extended or expanded, including popular credits for homeowners who make energy-efficient home improvements or buy energy-efficient new homes.

Jennifer Waters is a MarketWatch reporter, based in Chicago.

http://www.marketwatch.com/story/what-the-new-tax-bill-means-for-you-2010-12-17

Applying for a home loan after a foreclosure or short sale

Homeland Financial — Wed, 15 Dec 2010 14:52:06 -0800

With the current market conditions and the large number of home owners who are facing foreclosure or short sales, this question comes up often, "How long do I have to wait before I can qualify for a mortgage loan after I go through a foreclosure or a short sale?". Fannie Mae, who sets most conventional loan guidelines updated their waiting period guidelines this year. Below is a table showing the various derogatory credit event and the waiting period requirements:

(1) The maximum LTV ratios permitted are the lesser of the LTV ratios in this table or the maximum LTV ratios for the transaction per the Eligibility Matrix.

You can see that the minimum waiting time after a foreclosure is 3 years and for a short sale is 2 years with EXTENUATING CIRCUMSTANCES". So that begs the question, "What is considered Extenuating Circumstances?". Fannie Mae defines it as follows:

"Extenuating circumstances are nonrecurring events that are beyond the borrower’s control that result in a sudden, significant, and prolonged reduction in income or a catastrophic increase in financial obligations".

So a documented loss of job for an extended period of time would be considered an extenuating circumstance but you quiting a job because you hate your boss (although I can understand and sympathize) would not be considered an extenuating circumstance. The important thing in all this is keeping accurate records and documents regrading your extenuating circumstance. Fannie Mae says:

"If a borrower claims that derogatory information is the result of extenuating circumstances, the lender must substantiate the borrower’s claim. Examples of documentation that can be used to support extenuating circumstances include documents that confirm the event (such as a copy of a divorce decree, medical reports or bills, notice of job layoff, job severance papers, etc.) and documents that illustrate factors that contributed to the borrower’s inability to resolve the problems that resulted from the event (such as a copy of insurance papers or claim settlements, property listing agreements, lease agreements, tax returns (covering the periods prior to, during, and after a loss of employment), etc.)".

If you you cannot DOCUMENT your extenuating circumstance, you would have to wait 7 years after a foreclosure or short sale to qualify for a home mortgage loan up to the maximum LTV. For short sales, you can qualify for a new mortgage in a shorter period of time but the maximum LTV is reduced (see chart above).

Also keep in mind that the above guidelines are for conventional loans. FHA has slight different requirements. As of today, FHA has a 3 year wait period. The 3 year wait period can be waived with extenuating circumstances and re-established credit

Bowen Family Homes shuts down

Homeland Financial — Wed, 03 Nov 2010 15:14:06 -0700

Bowen Family Homes shuts down

House in Hunter's Run by Bowen Homes.

Atlanta Business Chronicle

Date: Tuesday, November 2, 2010, 12:19pm EDT

The privately held Duluth, Ga.-based homebuilder put up a message on its website explaining the economy forced it to shut down after more than 40 years in the business.

“The decision to close Bowen Family Homes after 40 plus years in the business has been a difficult one. Unfortunately, the market dynamics of the past few years have made it impossible for us to continue business. If you have a qualified Bowen purchase that is currently in progress, that purchase will be honored.”

The company said customers with questions should contact lead broker Tamra Wade Tamra Wade & Partners of RE/MAX Center at (678) 804-2595.

The company began in 1969 when Rudy Bowen, a former lumber salesman, built a single new home in Gwinnett County.

Over the next five years, the elder Bowen worked up to 50 homes a year. By the mid-1980s, the company needed an edge over its many competitors.

In 1985, Bowen began its own land development efforts, which allowed the company to avoid third-party costs. Soon Bowen was building its own communities and creating an organization that could provide a total home-buying experience.

Careful selection of land for development made Bowen homes popular.

The homebuilder was the fourth-largest in metro Atlanta with 549 homes closed, according to the 2009-2010 Atlanta Business Chronicle Book of Lists. It generated $165 million in revenue in 2008 and had 30 full-time employees.

In a February interview with Atlanta Business Chronicle, Chief Financial Officer Steve Palmer noted the company was almost out of new inventory and only expected to start 150 new homes in 2010 due to the sour housing market. The company had fewer options for bank financing than some of the publicly traded builders in the market, like Pulte (NYSE: PHM) and D.R. Horton Inc. (NYSE: DHI), Palmer said.

Mortgage-interest tax break may face ax

Homeland Financial — Mon, 25 Oct 2010 10:35:13 -0700

Mortgage-interest tax break may face ax

Bipartisan deficit-cutting panel puts deduction on table

By Steve Goldstein, MarketWatch

WASHINGTON (MarketWatch) — The hugely popular mortgage-interest tax deduction could be targeted by a bipartisan commission charged with finding ways to chop the deficit, according to a report published Monday.

The Wall Street Journal reported that the mortgage-interest deduction, child tax credits and payment for health insurance with pretax dollars all could be put in jeopardy by the deficit commission, which is to issue recommendations on balancing the budget by 2015.

The report, citing people familiar with the matter, indicated that these tax breaks could be preserved at a lower level. Defense spending and a freeze on domestic discretionary spending also are being weighed, the report said.

Medicaid and Medicare changes are unlikely, and the commission has decided that Social Security changes wouldn’t have an impact for at least a decade because changes would have to be phased in.

The commission is facing a Dec. 1 deadline.

No matter what is proposed by the commission, led by former Republican Sen. Alan Simpson and Erskine Bowles, a chief of staff in the Clinton White House, Congress still may be loath to take the ideas on board. The banking and real-estate lobbies in the past have aggressively fought efforts to target the mortgage-interest deduction.

Officials need to find roughly $240 billion in annual savings to balance the budget by 2015, even when interest payments on debt are excluded.

In the last budget, the deficit was $1.29 trillion, the second highest in history. See earlier story on budget deficit.

President Barack Obama formed the National Commission on Fiscal Responsibility and Reform in February.

Steve Goldstein is MarketWatch's Washington bureau chief.

The 100/0 Principle : The Secret of Great Relationships

Homeland Financial — Tue, 28 Sep 2010 12:55:31 -0700

		The 100/0 Principle The Secret of Great Relationships Brian Tracy once noted that, "80% of life's satisfaction comes from meaningful relationships." If you would like to have better relationships with your spouse, children, co-workers, and clientele, we encourage you to read on, and to adopt the 100/0 Principle. What would happen if you took full responsibility for a relationship (the 100) and expected nothing in return (the 0)? As the above movie from Simple Truths tells us, "When you take authentic responsibility for a relationship, more often than not the other person quickly chooses to take responsibility as well." Take a few moments and watch The 100/0 Principle from Simple Truths to learn more about how 100/0 relationships become 100/100 ones. And to see more inspirational movies, visit www.simpletruths.com.

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Christian Pak
Homeland Financial
3050 Presidential Pkwy Ste. 105
Atlanta, GA 30340

FHA Negative Equity Refinance Program

Homeland Financial — Tue, 24 Aug 2010 17:17:14 -0700

On August 6th, 2010, FHA published Mortgagee Letter 2010-23 which details the refinance program available to homeowners that owe more than the value of their homes. Although HUD estimates an economic benefit up to $35 billion, the success will be determined by the current lien holders who must participate by writing down the mortgages at least 10%. The program is for loans whose case numbers are issued on September 7th, 2010 and closed by December 31st, 2012.

Here are the 8 things you need to know about this program:

First lien holder must write off 10% of current unpaid principal balance.
The mortgage to be paid off CANNOT be an FHA loan and must be current
The max LTV is 97.75% and the max CLTV is 115%
Second lien holders must subordinate to the new first
Loans that receive an "accept/approve" by TOTAL do not require a review of income or credit history
Loans that receive a "Refer" by TOTAL and/or manually underwritten files, the ratios CANNOT exceed 31/50 (31% includes both 1st and 2nds) and must have acceptable credit history with a minimum credit score of 500
Lenders CANNOT use premium pricing to pay off debt to qualify borrower OR bring mortgage current for the borrower
The borrower must occupy the subject property

You can read the full HUD mortgagee letter by following the link: HUD Mortgage letter 2010-23

New FHA Fees To Start In September | FHA Mortgage Guide

Homeland Financial — Fri, 06 Aug 2010 10:37:56 -0700

New FHA Fees To Start In September | FHA Mortgage Guide

New FHA Fees To Start In September

The HUD will shortly announce new FHA mortgage requirements that will start as of September 7th (UPDATED October 4, 2010) for FHA loans made on or after that date.

With the passage of H.R. 5981 by both the House and the Senate, a measure expected to be quickly signed by the President, the FHA will have the authority to change both the up-front mortgage insurance premium and the annual mortgage insurance premium

The changes for most borrowers will look like this:

___ The up-front mortgage insurance premium will be REDUCED from 2.25 percent to 1.00 percent. For a $200,000 FHA loan the upfront MIP will drop from $4,500 to $2,000.

___ The annual mortgage insurance premium will be INCREASED from .55 percent to .85 (95%LTV or less) & .90 (> 95% LTV) basis points. For an FHA loan with a balance of $200,000 the monthly fee will change from $1,100 divided by 12 ($91.67) to as much as $1,800 divided by 12 ($150).

“A Mortgagee Letter will be forthcoming once President Obama signs the bill into law,” says FHA Commissioner David H. Stevens, ” but with today’s passage of H.R. 5981 and our expedited implementation schedule, I wanted to immediately inform the industry of our plans so the lending community can begin preparing for the operational and system changes required to implement FHA’s new mortgage insurance premium structure on all new case numbers by September 7, 2010.”

HUD has the authority under FHA Reform Act of 2010 to raise up-front premiums to as much as 2.25 percent and annual premiums to a high of 1.55 percent. These changes were made to assure that the FHA would have the authority in hand if higher premiums were needed but there was no inclination to raise fees to such levels.

June Testimony

As we wrote in June, “there is some talk of raising the annual MIP — and LOWERING the up-front MIP at the same time.

“During congressional testimony in May, Commissioner Stevens offered this comment: “While HUD is moving to increase the upfront premium to 225 basis points we are ultimately planning to reduce that premium to 100 basis points, offset by a proposed increase in the annual premium to 85 basis points for loans with loan-to-value ratios (LTV) up to and including 95 percent and to 90 basis points for LTVs above 95 percent.”

$300 Million Per Month

The changes will significantly increase FHA premium receipts.

Stevens says the “bill gives FHA the authority to adjust its annual mortgage insurance premium, yielding approximately $300 million per month in value to the FHA Mutual Mortgage Insurance Fund at a time when its reserves are perilously low.”

This is a bunch of money, an additional $3.6 billion per year to shore up FHA reserves.

The FHA loan program has been running in the black despite tough market conditions around the country. The new fee schedule will help bulk up FHA reserves in case things turn sour.

FHA Rule Changes including 3% Seller Concessions

Homeland Financial — Tue, 20 Jul 2010 10:56:51 -0700

HUD recently issued a new notice regarding changes to FHA guidelines (full notice is below). These changes include lowering seller concessions to 3%, increasing down payment requirements and tightening guidelines for manually underwritten FHA loans. HUD has issued a 30 day public comment period. Although the changes regarding higher down payment for borrowers with less than 580 credit score (no lender is underwriting these loans) and the tighter guidelines for manual underwritten FHA loans will have minimal impact to the market and FHA borrowers and is a needed change to strengthen FHA, the lower seller concessions to 3% can have a measurable impact to today’s FHA first time home buyer’s cash to close requirements. I encourage everyone to post their comments regarding these possible changes. You can leave comments at the following link: http://www.regulations.gov.

HUD No. 10-150
Lemar Wooley
(202) 708-0685

FOR RELEASE
Thursday
July 15, 2010

HUD SEEKS PUBLIC COMMENT ON THREE INITIATIVES TO BOOST FHA CAPITAL RESERVES
New measures will help FHA control risk, continue supporting housing recovery

WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today unveiled three specific policy changes to strengthen the FHA’s capital reserves while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The U.S. Department of Housing and Urban Development today published a Notice, seeking public comment on three specific measures to reduce financial risk and preserve affordable mortgage financing for responsible consumers.

In addition to earlier steps taken to manage its risks and to boost reserves, FHA is proposing to update the combination of credit and down payment requirements for new borrowers; reduce seller concessions from six to three percent; and tighten underwriting standards for manually underwritten mortgage loans.

“These are the latest in a series of changes to allow the FHA to manage its risk better while continuing to support the nation’s housing recovery,” said Stevens. “By protecting FHA’s capital reserves, we can continue providing affordable, responsible mortgage products and will remain the nation’s largest source of home purchase financing for underserved communities.”

For the next 30 days, HUD is seeking public comment on the following policy changes, each of which are designed to mitigate risk to the Mutual Mortgage Insurance Fund while promoting sustainable homeownership for FHA borrowers:

Update the combination of credit and down payment requirements for new borrowers. New borrowers seeking FHA-insured financing will be required to have a minimum FICO score of 580 to qualify for FHA’s flagship 3.5 percent down payment program. New borrowers with credit scores of less than a 580 will be required to make a cash investment of at least 10 percent. Borrowers with credit scores of less than 500 will no longer qualify for an FHA-insured mortgage.
Reduce allowable seller concessions from six to three percent. Allowing sellers to contribute up to six percent of the home’s sales price to offset a buyer’s costs exposes the FHA to excess risk by potentially driving up the cost of the home beyond its appraised value. Reducing seller concessions to three percent will bring FHA into conformity with industry standards.
Tighten underwriting standards for manually underwritten loans. When using compensating factors in the underwriting process, lenders will be required to consider those factors which are the best predictive indicators of loan performance, such as the borrower’s credit history, loan-to-value (LTV) percentage, debt-to income ratio, and cash reserves.

###

HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

Financial Regulatory Reform Bill Passes

Homeland Financial — Fri, 16 Jul 2010 15:07:53 -0700

For Immediate Release Contact: Jon Otto

July 15, 2010 (703) 342-5851

Financial Regulatory Reform Bill Passes

Fairfax , VA – NAMB – the Association of Mortgage Professionals expressed its disappointment with the Senate’s passage of the financial regulatory reform package, the “Dodd-Frank Wall Street Reform and Consumer Protection Act” today.

“The final bill approved by the Senate today and expected to be signed by the President in the coming days will adversely affect consumers and small businesses at a time when they need relief,” said NAMB President, William Howe, CMC, CRMS. “The unfortunate consequence of this bill will be higher costs to the consumers and continued job loss for small businesses in the mortgage industry.”

The final bill will deprive consumers of their existing choices and options to finance mortgage closing costs. Consumers will only have two choices at the closing table: to come up with thousands of dollars to pay for closing costs out of their pocket at the closing table or to roll all of their closing costs into their interest rate. No longer will they have the opportunity to enjoy the benefits of utilizing both at the closing table. In effect, this would steer them toward financing all costs in the interest rate of the mortgage loan causing consumers to pay interest on these costs for the life of the loan. Congress has also failed to show any evidence to support provisions in the bill that tie an originator’s compensation to a consumer’s ability to repay a loan.

“Despite NAMB’s efforts to spotlight the adverse consequences of some of the provisions contained in the bill, the provisions remain that will cause more harm than good,” said Howe. “However, NAMB is committed to working with regulators through the rule-writing process on the numerous regulations called for in the final bill.”

###

NAMB - The Association of Mortgage Professionals is the voice of the mortgage broker industry with members in all 50 states and the District of Columbia. NAMB provides education, certification and government affairs representation for the mortgage broker industry.

Home Buyer Tax Credit Closing Extension Passes

Homeland Financial — Fri, 02 Jul 2010 09:59:17 -0700

After having issues being passed as part of a larger unemployment benefits bill, both the House and Senate passed the Homebuyer Assistance and Improvement Act, HR5623 and will be signed into law by President Obama. This stand alone bill gives home buyers additional time to close on home purchases and qualify for the home buyer tax credit. The home buyer tax credit gives first time home buyers up to $8000 tax credit and repeat buyers up to $6500 tax credit.

The extension only applies to buyers who had binding contracts by April 30, 2010. The extension gives these buyers until September 30, 2010 to close on the purchases and still qualify for the home buyer tax credit. The original tax credit required buyers to close on their purchases by June 30, 2010. This is not an extension of the home buyer tax credit; only an extension of time to close on purchases already under contract.

Christian Pak

Fannie Mae's Loan Quality Initiative

Homeland Financial — Tue, 29 Jun 2010 16:35:57 -0700

Fannie Mae's new "Loan Quality Initiative" went into effect on June 1, 2010…which means that loans may be at risk for some buyers. Here's what you need to know – and what you need to do – to keep your deals from blowing up right before closing.

Undisclosed debt is a leading cause of mortgage fraud and early payment loan defaults. That's why, as of June 1, lenders who originate mortgages that will be sold to Fannie Mae are being advised to pull a second credit report on many transactions just before the loan closes. By reviewing a second credit report, lenders can find out whether other creditors have recently requested information about the mortgage applicant. This can uncover situations in which an applicant might be trying to obtain several loans (from multiple, unwitting lenders) on the same property. It can also reveal less insidious, but still relevant conditions, such as a change in the applicant's debt-to-income levels.

If the second credit report includes any negative changes, the result could be a higher interest rate and/or fees, or even worse, the loan could be denied altogether!

Don't let this happen to your homebuyers. Share with them the attached "Top 10 Credit Don'ts During the Loan Process" so they will know exactly what they need to do (and not do) when they are in the process of purchasing a home. You could laminate copies (or print copies on cardstock), give them to potential homebuyers during the application process, and tell them to keep the list on their refrigerator for easy reference. I would also share this list with your sellers who will be purchasing a home after their home is sold. This news is simply too important to keep to yourself.

Please don't hesitate to contact me if I can answer any questions at all for you about this important news from Fannie Mae. It's a pleasure working with you to serve our clients at the highest level possible.

Christian Pak

Homeland Financial

FTC Settlement with Countrywide Home Loan

Homeland Financial — Mon, 07 Jun 2010 17:31:35 -0700

The Federal Trade Commission (FTC), the nation’s consumer protection agency, sued Countrywide for unfair and deceptive practices in servicing the mortgages of homeowners in default or Chapter 13 bankruptcy. The settlement requires Countrywide to pay $108 million in refunds.

After the court approves the settlement, the FTC will send refunds to eligible homeowners. You’ll be notified by mail in the coming months if you’re eligible. You don’t need to do anything now.

Bookmark this page and check back regularly. We’ll post more information as soon as it becomes available.

Settlement Q & A's

What’s this case about?

According to the FTC, Countrywide used unlawful practices in servicing homeowners’ mortgages. The company allegedly:

charged excessive fees for default-related services like property inspections
made claims about amounts owed by homeowners in bankruptcy that were false or couldn’t be backed up; and
didn’t tell people going through bankruptcy when new fees or charges were being added to their loans.

The FTC settlement includes a $108 million consumer redress fund. Countrywide also agreed to stop the illegal servicing practices and make major changes to its business practices.

How do I know if I’m eligible for a refund?

If you’re eligible, you’ll get a letter in the mail. You don’t need to do anything now to make a claim.

When will I be notified if I’m eligible for redress?

After the court approves the settlement, the FTC will notify eligible homeowners. This process can take several months. Check back here in 30 days for any updates.

If I accept a refund, will it affect my loan? Should I stop making payments on my loan?

Your loan obligations aren’t affected by the settlement. Continue to make your monthly loan payments.

Where can I find out more?

There’s free information about mortgages and other consumer credit issues at www.ftc.gov/moneymatters.

Click on the questions below for more information.

Class Action Settlement With Major Lawn Mower and Engine Manufacturers

Homeland Financial — Mon, 03 May 2010 11:08:58 -0700

Have you or anyone you know purchase a lawn mower in the past 17 years? If so, you may be eligible to be part of a class action legal settlement against major lawn mower and engine manufacturers. You could receive up to $35 for each walk behind mower and up to $75 for each riding lawn mower.

You can receive these benefits if:

1. You purchased a lawn mower, for your own use, containing an engine with up to 30 horsepower in the United States or Puerto Rico and between January 1, 1994 and April 12, 2010.

2. Either the lawn mower or the engine of the lawn mower was manufactured or sold by a Company listed below.

3. You submit a claim.

Your lawn mower is included if your engine was manufactured by:
Briggs & Stratton
Honda
Kawasaki
Kohler
Tecumseh
Toro

Or, your lawn mower is included if your lawn mower was manufactured by:
Deere
EHP
Honda
Husqvarna
MTD
Sears
Toro

Brands manufactured by these companies include, but are not limited to:

Yard-Man, Cub Cadet, Honda, Bolens, Exmark, Deere, Sabre, Scotts, Toro, Yard Machines, Craftsman, Troy Bilt, Husqvarna, Poulan, Poulan PRO, Lawn-Boy, Weed Eater, White Outdoor, Snapper, Simplicity, Brute, Murray, and other brands.

The lawsuit does not concern the safety of these lawn mowers.

You can download a claim form clicking DOWNLOAD CLAIM FORM or the easiest way to file a claim is to file an ONLINE CLAIM. Please visit Lawn Mower Class Action Settlement for additional information.

Homebuyer Tax Credit to Expire by June 30, 2010

Homeland Financial — Mon, 29 Mar 2010 12:38:42 -0700

The Federal Home buyer tax credit will begin to sunset on April 30, 2010 and expire on June 30, 2010.

The Federal Home buyer tax credit will begin to sunset on April 30, 2010 and expire on June 30, 2010.

Following are the latest provisions of the proposed First Time Home Buyer Tax Credit Extension:

—The tax credit would be $8,000 for first-time home buyers and $6,500 for repeat buyers (from December 1, 2009 to April 30, 2010).

— Repeat buyers will be eligible, so long as the home they are leaving has been used as their principal residence for 5 years or more.

— The tax credit would sunset on April 30, 2010. However, there would a binding contract rule that will permit those with contracts as of April 30th to qualify for the credit so long as they complete the transaction within 60 days.

— The income limits for both first-time home buyers and repeat buyers would be $125,000 for single return and $225,000 joint return.

— Cost of the home may not exceed $800,000 to be eligible.

— For purchases made in 2010, taxpayers would be able to claim the credit on their 2009 income tax return.

— Home buyers would not have to repay the credit, provided the home remains their principal residence for 36 months after the purchase date.

— The amendment includes a military waiver provision, meaning the recapture provision would not apply in the case of a member of the Armed Forces, military intelligence or Foreign Service who is on qualified official extended duty. In addition, members of the military who have been deployed overseas for 90 days or more in 2008 or 2009 would have until April 30, 2011, to claim the home buyer tax credit.

— The amendment also includes anti-fraud language that provides math authority to the IRS to do greater oversight during the processing of the return rather than waiting for an audit situation. The amendment requires the taxpayer claiming the credit to be 18 or older as well as requiring a HUD-1 settlement statement to be attached when claiming the credit.

Homeland Financial is proud to display the "Lending Integrity" seal of approval. This seal identifies Homeland Financial as meeting the Highest Ethical Lending Standards.

Georgia Residential Mortgage Licensee
NMLS: 150504 / 162627

Christian Pak
Homeland Financial
3050 Presidential Pkwy Ste. 105
Atlanta, GA 30340

Homestead Exemption and Property Tax help

Homeland Financial — Fri, 12 Mar 2010 14:16:24 -0800

Homestead Exemption and Property Tax help:

Many of you have said that you would like to have information regarding homestead exemption and property tax assessment dispute without searching all over the internet. I hope that the information I provide is useful and help you and your customers. I am proving links to homestead exemption info per county. Most of Metro Atlanta counties are listed.

The property valuation assessment dispute starts first with the filing of a “Taxpayer’s Return of Real Property”. Obtain the form, write in your estimated “Fair Market Value” and mail it to your counties tax assessor’s office. Upon reviewing the submitted return, your counties tax assessor’s office will either agree or disagree with your “fair market value”. If they do not accept your stated value, they will issue a “Notice of Change of Assessment”. This notice will inform you of the
valuation the county will use to calculate your tax for 2010. If you disagree with this value, you will then have the right to appeal. Instructions on how to appeal will be included with the notice. If they accept your valuation, the “Notice of Change of Assessment” will not be issued and taxes will be adjusted based on your fair market value. Below are the links to the “Taxpayer’s Return of Real Property” by county.

One tip in filling out the Property Tax Return is to search for your tax bill online with the county. The tax bill will contain your Map and parcel ID plus partial legal description of your property. Use this information to complete the Property Tax Return. You do not have to break down your estimated value by “land” and “improvements”. Simply fill out a total estimated value in the “total” section. Remember you must file by March 31, 2010. Make sure to mail the return via Certified Mail. Please contact me if you need additional information or clarification. Good luck!

Cobb County:
Property tax Info search: Cobb County Tax Bill Search
Homestead Exemption: Cobb County Homestead Exemption Forms
Real Property Return: Cobb County Real Property Return Forms

Cherokee County:
Property tax Info search: Cherokee County Tax Bill Search
Homestead Exemption: Forms available at county tax commissioner’s office :
2780 Marietta Highway Canton 30114 : 678.493.6400
Real Property Return: Cherokee County Real Property Return Forms

Clayton County:
Property tax Info search: Clayton County Tax Bill Search
Homestead: Clayton County Homestead Exemption Forms
Real Property Return: Clayton County Real Property Return Forms

Dekalb County:
Property tax Info search: Dekalb County Tax Bill Search
Homestead: Dekalb County Homestead Exemption Forms
Real Property Return: Dekalb County Real Property Return Forms

Fulton County:
Property tax Info search: Fulton County Tax Bill Search
Homestead: Fulton County Homestead Exemption Forms
Real Property Return: Fulton County Real Property Return Forms

Forsyth County;
Property tax Info search: Forsyth County Tax Bill Search
Homestead: Forsyth County Homestead Exemption Forms
Real Property Return: Forsyth County Real Property Return Forms

Gwinnett County;
Property tax Info search: Gwinnett County Tax Bill Search
Homestead: Gwinnett County Homestead Exemption Forms
Real Property Return: Gwinnett County Real Property Return Forms

Hall County;
Property tax Info search: Hall County Tax Bill Search
Homestead: Hall County Homestead Exemption Forms
Real Property Return: Forms available at county tax assessor’s office:
300 Henry Ward Way, Suite 203 Gainesville, GA 30501 : 770.531.6720

Homeland Financial is proud to display the "Lending Integrity" seal of approval. This seal identifies Homeland Financial as meeting the Highest Ethical Lending Standards.

Georgia Residential Mortgage Licensee
NMLS: 150504 / 162627

Christian Pak
Homeland Financial
3050 Presidential Pkwy Ste. 105
Atlanta, GA 30340

Higher Mortgage Rates in the Near Future

Homeland Financial — Wed, 17 Feb 2010 14:07:35 -0800

The Fed will be exiting the mortgage backed securities market in the very near future. This will bring about a jump in mortgage rates. Following video clip gives an overview of what can happen when the Fed exits the mortgage backed securities market.

Fannie Mae Announces 3.5 Percent Seller Assistance on HomePath® Properties

Homeland Financial — Mon, 01 Feb 2010 10:11:24 -0800

Fannie Mae Announces 3.5 Percent Seller Assistance on HomePath® Properties

Incentive Part of Ongoing Effort to Stabilize Neighborhoods

"WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010.

"Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover. Many families are taking advantage of the federal homebuyer tax credit to buy a new home so this is a great time for Fannie Mae to offer some additional help," said Terry Edwards, Executive Vice President of Credit Portfolio Management. "Homebuyers have the option to choose between financial assistance toward closing costs or new appliances for their home."

Properties eligible for this incentive are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing which offers homebuyers an opportunity to purchase with as little as 3 percent down".

You can search for Fannie Mae HomePath properties that qualify for the closing cost credit by clicking the Fannie Mae HomePath logo below. I am able to finance all Fannie Mae HomePath properties. Please call me for additional details.

Christian's Blog

Obama announces new FHA Refinance Program

Independent Foreclosure Review

OCC website announcement Independent Foreclosure Review info website

Tax consequences of a short sale

A holiday present from the Congress hidden in the Payroll Tax Bill

HUD Emergency Homeowners' Loan Program (EHLP)

Act Fast for Mortgage Bail-Out

Gas prices prompt IRS to raise mileage rates

Tax agency hikes standard rate for deducting driving costs

FHA annual mortgage insurance premium to increase in April.

Homestead Exemption and Property Tax info

What the new tax bill means for you

What the new tax bill means for you

CHICAGO (MarketWatch) -- The new tax bill now on its way to President Obama for his signature will save every American from a number of tax hikes that would have begun Jan. 1 and will add more than a year of benefits for those who are long-term unemployed.

Marginal tax rates

Unemployment benefits

Estate tax

Social Security tax holiday

Making Work Pay

Alternative minimum tax

Tax breaks for families

Marriage penalty relief

Other breaks

Applying for a home loan after a foreclosure or short sale

Bowen Family Homes shuts down

Bowen Family Homes shuts down

Atlanta Business Chronicle

Mortgage-interest tax break may face ax

Mortgage-interest tax break may face ax

Bipartisan deficit-cutting panel puts deduction on table

The 100/0 Principle : The Secret of Great Relationships

FHA Negative Equity Refinance Program

New FHA Fees To Start In September | FHA Mortgage Guide

New FHA Fees To Start In September

FHA Rule Changes including 3% Seller Concessions

Financial Regulatory Reform Bill Passes

Home Buyer Tax Credit Closing Extension Passes

Fannie Mae's Loan Quality Initiative

FTC Settlement with Countrywide Home Loan

Settlement Q & A's

What’s this case about?

How do I know if I’m eligible for a refund?

When will I be notified if I’m eligible for redress?

If I accept a refund, will it affect my loan? Should I stop making payments on my loan?

Where can I find out more?

Class Action Settlement With Major Lawn Mower and Engine Manufacturers

Homebuyer Tax Credit to Expire by June 30, 2010

Homestead Exemption and Property Tax help

Higher Mortgage Rates in the Near Future

Fannie Mae Announces 3.5 Percent Seller Assistance on HomePath® Properties

OCC website announcement
Independent Foreclosure Review info website