craig bland: Increase in Upfront Premiums for FHA Mortgage Insurance - 01/22/10 02:17 PM
ML 2010-02: Increase in Upfront Premiums for FHA Mortgage Insurance (01/21/10)
First-Time Homebuyer with HUD-Approved Pre-Purchase Counseling
The National Housing Act, as amended by the Housing and Economic Recovery Act in 2008, authorizes upfront premiums of up to 3.00 and authorizes premiums of up to 2.75 percent for first-time homebuyers who complete HUD-approved pre-purchase counseling. Since the upfront premium rate of 2.25 percent remains below the statutory cap, no variable rate for counseled first-time homebuyers is provided for under this Mortgagee Letter.
If you should have any questions concerning this Mortgagee Letter, call 1-800-CALLFHA. Persons with hearing or speech impairments may … (2 comments)
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craig bland: Take a break - 12/22/09 05:16 AM
Are you like me? Worn out? It is tiring at this time of the year! Are you ready for a break? NO I mean a REAL break!!
I am one of those crazy guys that seems to work 24/7. Do you find yourself up at 5am (like right now) writing blogs or sending out marketing emails via icontact or contact contact etc. Sometimes I think I am crazy. Actually I know I am crazy! But it is also this commitment to my referral partners and my willingness to answer my phone pretty much anytime that makes me successful. I have built … (10 comments)
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craig bland: Georgia Dream "Plus" - 09/21/09 02:42 PM
Atlanta, GA -
Today the Georgia Department of Community Affairs announced a new down payment assistance option to its Georgia Dream Homeownership Program. The Georgia Dream "Plus" option offers down payment and closing cost assistance for first time home buyers with incomes up to 100% of their Area Median Incomes (AMI). Georgia Dream's down payment assistance options are normally restricted to borrowers whose incomes are at or below 80% AMI. This assistance comes in the form of a second mortgage loan, with a zero percent interest rate and requires no repayment until the home is sold, refinanced, or no longer used … (0 comments)
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craig bland: $8000 tax credit. Can your parents co-sign and you still qualify? - 09/02/09 12:20 PM
One of the questions I am often asked as a mortgage advisor is "if my parents co-sign will I still be eligible for the $8000 First Time Homebuyers Tax credit?"
Well I have an answer - direct from the IRS's mouth!
Finally an answer to the question we get so often - Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much?
Hi,
I researched your question concerning the First Time Homebuyers Tax Credit. I've included the … (6 comments)
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craig bland: GEORGIA PROPERTY TAXES - IMPORTANT DUE DATES FOR 2009 - 08/28/09 09:55 AM
Many property tax deadlines have been extended for 2009:
Fulton County: bills have not been generated yet- the county is seeking a Temporary Collection order to bill and collect taxes
Usual due date: October 15th
2009 due date: Undetermined
City of Atlanta: if in Fulton County, will be billed as shown above
If in DeKalb County, already billed and due 9/15/09
DeKalb County: payable in two installments
1. 8/31 (extended from 8/15 just for 2009)
2. 11/15 (same deadline for 2nd installment)
Gwinnett County: payable in two installments
1. 10/15 (extended from 9/15 just for 2009)
2. 11/15 (same deadline for … (0 comments)
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craig bland: The 10 Commandments - when applying for a mortgage - 08/27/09 01:16 PM
1. Thou shalt not change jobs, become self-employed or quit your job. Longer employment time shows stability and a reduced likelyhood of default.
2. Thou shalt not buy a car, truck or van (or you may be
living in it)! This will increase your debt to income ratio.
3. Thou shalt not use charge cards excessively or let your
accounts fall behind. This shows poor money management and an increased risk of default.
4. Thou shalt not spend money you have set aside for closing. It costs money to borrow money - make sure you have enough.
5. Thou shalt not … (3 comments)
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craig bland: 95% Conventional Financing is Back - 08/27/09 12:10 PM
Wonderful News.
95% conventional loans are back!
Academy Mortgage can now offer a combo loan with a 80% first loan and a 15% second loan.
This is great news as it was very difficult to get mortgage insurance ob loans greater than 90%.
Call Craig Bland at 678-234-0545 for more details.
… (0 comments)
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craig bland: Possible Extension of the Home Buying Credit - 06/24/09 11:33 AM
Yesterday, USA Today reported that Congress is considering an extension of the first-time home-buyer credit due to expire this fall. Some in Congress are even proposing to raise the credit from $8,000 to $15,000 and apply it to anyone who buys a home.
It seems likely the credit will be extended beyond the fall as there are a few proposed House bills to do so. Each bill carries a different twist beyond merely extending the credit past the fall.
According to the article, four separate proposals and ideas to continue to spur the housing market have emerged:
A Senate bill submitted … (0 comments)
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craig bland: Sick and Tired of the Mainline Media - 10/07/08 08:47 PM
Let me ask you a question. Am I the only one who is sick and tired of the mainline media giving us nothing but bad news about the economy? I know I know we are in a terrible position right now and as a mortgage consultant I believe I am part of the problems that we currently have but come on. I don’t know about you but I am ready for the press and TV to back off and start looking at some positives.
You would think based on what you hear that no banks are offering any loans … (0 comments)
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craig bland: High Velocity Radio - Craig Bland interviewed by Stone Payton - 10/07/08 05:03 PM
Take a few moments to listen to my interview on the HIGH VELOCITY RADIO SHOW. Stone Payton did a great job of asking some very important questions about today's financial climate. There are also some great pointers on how Craig became one of the top mortgage bankers in GA.
http://marketmate.org/hvradio.html
Craig Bland - 678-234-0545
… (1 comments)
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craig bland: No Closing Costs - 10/02/08 06:12 AM
If you live in the Atlanta Metro or other big cities I am sure you have heard the guy talking about the no closing cost mortgage. He calls it the biggest no brainer in the history of the universe.
It goes something like... Don’t pay closing costs. Don’t give those pimps your money. We’ll close your loan for free, No Closing Costs! Then we’ll manage your loan for you. We’ll sit back, watch the market and the when the time is right, we’ll do it all over again. It’s the biggest no-brainer in the history of man!’
Well, he’s right. It … (10 comments)
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