texas home loans: Non Purchasing Spouse with Texas FHA Loans - 11/22/09 02:04 PM
Non Purchasing Spouse with Texas FHA Loans
The non purchasing spouse is a married person NOT on the mortgage loan. But there is special treatment of the non purchasing spouse with respect to FHA Mortgage Loans in Community Property States like The Great State of Texas.
A non purchasing spouse … (0 comments)
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texas home loans: FHA Streamline Refinance Changes - 11/22/09 09:49 AM
FHA Streamline Refinance Changes
We have seen tightening of all loan guidelines.... And the same is true for the FHA Streamline Refinance Loan.
Key Revisions:
* Seasoning: At time of application the borrower must have made at least 6 payments.
* Payment History: For mortgages with less then 12 months payment … (1 comments)
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texas home loans: General Mortgage Loan Guideline Changes - Regarding Debt Ratios - 11/21/09 04:52 PM
Mortgage Loan Guideline Changes
Capital Market adjustments to guidelines:
Conforming Fannie Mae & Freddie Mac Debt Ratios: Effective on loans funding after December 12, 2009 the maximum debt ratios are as follows. References to DU 8.0 are due to the pending update to Desktop Underwriter(automated underwriting).* DTI > 45% must be … (0 comments)
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texas home loans: TX Mortgage Rates. - 11/17/09 01:53 PM
Texas Mortgage Rates, Dallas TX Lender
What a year. We have seen rates as high as in the mid 6%'s and as low as the low 4% range on 15yr loans.
We are staring at the lows right now.... A great time to refinance to a low fixed rate that … (3 comments)
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texas home loans: New Homebuyer Tax Credit.... What you need to know - 11/07/09 10:51 AM
New homebuyer tax credit
A new tax credit for homebuyers has been enacted and there are some changes. Income limits have been increased and it is no longer restricted to First Time Homebuyers.
I have included a chart below from the National Association of Realtors. This is the best illustration … (2 comments)
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texas home loans: Rapid Rescore Your Credit Report for Loan Approval - 07/08/09 11:17 PM
Rapid Rescore….. What is it?
Quite simply, it is what is says…. A rapid rescoring of the credit report with certain supporting documentation.
What is it not? Well, it isn’t credit repair as the term has been commonly used.
Rapid Rescore removes erroneous information from the credit report with solid supporting … (2 comments)
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texas home loans: confucius says: “He who shops for the lowest rate and fee will find neither” - 07/07/09 04:13 PM
Is there such a thing as too much shopping for a mortgage loan? I believe so!
“What is your rate?” <= I get that question a lot. Hehe… I usually answer it like this. “Same as everyone else”.
Well, it is true….. We sell our loans to the same people … (1 comments)
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texas home loans: Is your lender a responsible organization? - Personal info found in trash - 03/24/09 08:54 PM
http://abclocal.go.com/ktrk/story?section=news/local&id=6724615
By Deborah Wrigley
BAYTOWN, TX (KTRK) -- Some Baytown homeowners are concerned after they discovered that boxes filled with documents containing their personal information, including names and Social Security numbers, had just been tossed in the trash.
I can only cringe.... I know outfits like this still exist. … (6 comments)
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texas home loans: SEO Testimonial from a recent article I wrote... - 01/31/09 06:15 PM
I recently put together a bunch of info about the First Time Home Buyer Tax Credit and included the IRS form to submit along with your tax return.
I just got an email that I have copied below.... It speaks for itself.
THANK YOU!!!!!!
For days I have … (8 comments)
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texas home loans: To Pay or Not To Pay... That's the Point!!! - 01/26/09 12:59 PM
Mortgage Discount Points.
How do I know when I should pay them? Are they a good deal or not?
They are a great deal if the borrower stays in the loan long enough. And, do I have to say it? They are a bad deal if the borrower doesn't stay in … (10 comments)
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texas home loans: Texas' swift foreclosure process puts struggling homeowners in a bind - 12/12/08 03:40 PM
http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-foreclosures_10bus.ART.State.Edition2.4a3780e.html
WASHINGTON – Even as banks streamline programs to renegotiate troubled mortgages, efforts to help Texas homeowners are being hindered by the state's fast-track foreclosure process, according to housing counselors and government officials.
Photos by COURTNEY PERRY/DMN
Forrest Brannon, 78, of Dallas got behind on his mortgage after having … (7 comments)
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texas home loans: I just approved a Home Loan for a dead man..... - 12/11/08 11:18 PM
Well... Equifax and Transunion think he is dead anyway.
You see, once the credit bureaus have been alerted(usually by a creditor) that a person has died, that file is flagged as 'Deceased'. This prevents a posthumous indentity theft situation. Otherwise, illegal aliens would be perusing the obituaries on a daily basis … (11 comments)
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texas home loans: Will Fannie Mae and Freddie Mac waive appraisal requirement on refi's? - 12/10/08 02:50 PM
Fannie, Freddie May Waive Appraisals for Refinancings
By Dawn Kopecki
Dec. 10 (Bloomberg) -- Fannie Mae and Freddie Mac, the mortgage-finance companies seized by the U.S. government, are considering waiving a requirement for new appraisals on refinanced loans, their regulator said.
“If they refinance someone, rather than doing a loan mod, do they need … (8 comments)
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texas home loans: Real Problems for North Texas Real Estate Agents - 11/12/08 12:46 PM
Buyer's are still buying homes in North Texas -- Remember That The Media thrives on NEGATIVITY, so call your Realtor or Loan Officer before you decide to do nothing!
No, the sky isn't falling and the credit crunch didn't get worse....!! The problem is reporting like this. Jay … (7 comments)
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texas home loans: D-I-V-O-R-C-E --- Divorce and Credit...... How Does it Affect You?!?!? - 10/01/08 11:48 PM
Divorce or dissolution of marriage is the termination of a marriage.
Divorce can be contrasted with an annulment, which is a declaration that a marriage is void, though the effects of marriage may be recognised in such unions, such as spousal support or alimony, child custody, child support, and distribution of property.
The above is from WikipediA, the … (12 comments)
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texas home loans: 2008 NCAA Football 'Helmet Schedule' Spreadsheet - 09/09/08 10:48 AM
I have been overwhelmed by emails from friends wanting a new copy of the Helmet Schedule I sent to them last year.
This is a cool little tool! It is a complete 2008 NCAA Football Schedule broken down by conference; all in one spreadsheet. Every game!!
So, here it is: http://www.dallasloanguy.com/2008_helmet_schedule.xls
… (3 comments)
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texas home loans: Elimination of Seller Funded Down Payment Assistance - Timeline - 08/22/08 02:47 PM
A memo from my operations team. I thought I would throw this out to the readership since I get a lot of questions about the timing of this event.
Due to FHA's elimination of Seller-funded down payment assistance programs October 1, 2008 Supreme is implementing the following deadlines:
All FHA … (10 comments)
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texas home loans: Do You Work for a ‘Class' Organization? How Can You Tell? - 08/16/08 12:58 PM
Leave!! That's right, leave your company and see the attitudes change.
Whether you have been terminated for violating company policy or you found greener pastures with the competition and transitioned out of your company, you should expect the same ‘Class' from your bosses and support staff as was shown to you … (10 comments)
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texas home loans: Seller Funded DPA = Money Laundering. <= Did I really say that?!?! - 07/07/08 03:13 PM
Dave Michaels with the Dallas Morning News called me out of the blue the other day. He was working on a story about FHA Loans in Texas. It seems that I show up pretty high in the Search Engines for the keywords that he was interested in that day(Thanks ActiveRain).
<Article Link>
The … (27 comments)
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texas home loans: About Last Night.....North Dallas Happy Hour!! - 06/19/08 02:22 PM
The Babe Magnet that I am.... I had the great pleasure of meeting up with fellow Rainers Lorrie Semlar and Sharon Parisi last night for a little Happy Hour at the new and hip Sting Club in N. Dallas.
The food was simple but good and the beers were cold. I am even … (19 comments)
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