Mortgage Rules Change Again.. - 05/18/10 10:15 PM

Realtors and Mortgage lenders have always advised homebuyers to refrain from applying for consumer credit once the home buying process has started, but effective June 1st 2010, new Fannie Mae rules require mortgage lenders to order a new full credit screening immediately before closing.  
The pre-closing screening insures that the homebuyer has not obtained or tried to obtain new credit that might adversely affect their debt to income ratios and their ability to repay the mortgage debt that they are about to assume. If the prescreening reveals new credit lines of any kind including auto loans, home equity lines of … (0 comments)

TAX CREDIT STILL AVAILABLE FOR SOME.. - 05/18/10 08:20 PM

While the Homebuyer Tax Credit has expired for most buyers signing contracts after April 30, 2010, the credit remains in effect for certain military personnel and foreign service employees deployed overseas for 90 days or more between January 1, 2009 and April 30, 2010.  They can still claim the credit if they sign a contract on or before April 30, 2011 and close on or before June 30, 2011.  While this is a relatively small group, it is worth keeping in mind particularly for members of the military ending tours of duty in Iraq and Afghanistan among other places as … (0 comments)

UNDER CONTRACT - 103B Stewart Lane, Chapel Hill NC. - 05/13/10 09:02 PM
This Chapel Hill Home is Under Contract in 30 days.
$205,000 103 Stewart Lane Unit BChapel Hill, NC 27514
 
 
New counter tops just installed.

Living Room features vaulted ceiling.
… (0 comments)

IS YOUR CHAPEL HILL, DURHAM OR RALEIGH AREA HOME READY TO SELL? - 05/10/10 10:51 AM
Thinking of selling your Chapel Hill, Durham or Raleigh North Carolina area home? Think your home is in good condition? When was the last time you ventured under your homes crawl space or climbed into the attic areas?  Are your GFCI's working properly, have you recently installed a new hot water heater or HVAC system and was it installed according to your local building codes? Have you or previous owners made improvements to the property like adding a deck or a room or have you finished previously unfinished space and if so were building permits issued for the work?  Do you … (0 comments)

CHAPEL HILL, DURHAM AND RALEIGH AREA INTEREST RATES STILL LOW. - 05/07/10 10:09 PM
Home Buyers who sat on the fence as the Federal Home buyers incentives expired for those not under contract by April 30th with a scheduled closing on or befor June 30th, missed an opportunity to purchase a home and enjoy up to $8.000.00 dollars in tax credits. If you've missed out on tax credit, don't miss out on the historically low rates currently available. Most financial experts and analyst agree that interest rates will rise soon. See below for current mortgage rates in the Chapel Hill, NC. area.
** RATES AS OF 05/07/2010.**

All quotes with 1% origination fee
Rates vary according … (0 comments)

 
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Colin Moody

Chapel Hill, NC

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Fonville Morisey Realty

Address: 1520 E. Franklin Street, Chapel Hill, NC, 27514

Office Phone: (919) 491-0739

Cell Phone: (919) 491-0739

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Real Estate Blog that discusses housing market in the Raleigh, Durham, Chapel Hill area of North Carolina


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