michigan: Mortgage News You Can Use 5/21/2008 - 05/21/08 02:45 PM
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michigan: Mortgage News You Can Use - 05/16/08 11:05 AM
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michigan: Mortgage news you can use - 04/04/08 03:26 PM
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michigan: Mortgage Insurance Bad or Good? - 03/04/08 03:31 PM
I have been a mortgage lender since 1995 and have heard every negative comment, story, rant, and opinion about Private Mortgage Insurance (PMI). I never really understood why people had such strong negative opinions about PMI. I would, from time to time, try and explain that without PMI most people wouldn't … (3 comments)
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michigan: Mortgage News You Can Use - 11/19/07 12:55 PM
Mortgage News You Can Use
November 16, 2007
The Good News That Does Not Get Reported:
1. Thirty-five percent of the homes in the U.S. do NOT have a mortgage.
2. Some 94.88 percent of the loans ARE performing.
3. The foreclosure problem in this country is really a story about seven states.
4. The biggest foreclosure problems are in Michigan, … (0 comments)
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michigan: Mortgage News You Can Use October 4th, 2007 - 10/04/07 02:53 PM
The hubbub over the sub-prime mortgage meltdown has abated a bit. A month ago 151 major U.S. lending operations had imploded since late 2006. In the last month the number has increased to 161 operations. We have seen the Federal Reserve cut the Federal Funds Rate by .5% causing short-term rates … (0 comments)
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michigan: Mortgage News You Can Use - 08/29/07 03:15 PM
August 29, 2007
Update: 100% financing is still available. The availability is dependent upon credit score, reserves after closing, and income levels. Appraisal are being scrutinized very carefully as we are in an area with declining values.
Rural Development Loans-We participate in the program and it's a great product once you get … (0 comments)
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michigan: Reverse Mortgages - 08/15/07 03:04 PM
There is a lot of talk about reverse mortgages. What is true and what is false about this program. In this Blog I will try to clear up some common myths and help you, the reader, to have a solid understanding.
A reverse mortgage is a FHA insured, government regulated home … (6 comments)
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michigan: An idea to sell to first time home buyers - 06/06/07 10:16 AM
A few weeks ago a realtor friend of mine asked me if I had any ideas how she could make her listings more attractive to potential buyers. Most of her listings were under two hundred thousand so she was looking for first time home buyers. I put together a flyer marketing … (4 comments)
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michigan: Mortgage News You Can Use - 03/20/07 03:03 PM
March 20, 2007
The Subprime Dilemma-These loans have been around for years-so why all the drama now?
Many subprime and other adjustable home loan rates have moved dramatically higher, due in part to the Federal Reserve Boards recent rate hike cycle. So as these rates are adjusting higher-and the payment right along … (1 comments)
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michigan: Mortgage News You Can Use - 02/27/07 02:22 PM
February 27, 2007
Rate Watch - Mortgage rates fell in the past week. The 30-year fixed rate mortgage averaged 6.22%, down from 6.30% last week, according to Freddie Mac's Primary Mortgage Market Survey. Last year at this time, the 30-year averaged 6.26%.
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What happens overseas has an impact on our interest rates. … (0 comments)
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michigan: First Time Home Buyers (FTHB) Advice - 02/16/07 05:54 PM
Are you thinking about buying a home this year? Very cool! Owning a home is such an awesome experience. You get your own space, you can paint and decorate anyway you want to. If you want orange walls with green shag carpet you can have it (although you may be stuck … (3 comments)
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michigan: Mortgage News You Can Use!! - 01/24/07 02:10 PM
Rate Watch - For the week ending January 19th, 30-year fixed rates averaged 6.22%, edging up 0.03 percent from the previous week. The average for 15-year fixed mortgages rose slightly to 5.93%. A year ago 30-year fixed rates were at 6.04%.
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Not much on the economic calendar until Friday's New Home Sales … (0 comments)
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michigan: Mortgage News You Can Use 1/11/07 - 01/11/07 03:05 PM
MORTGAGE NEWS YOU CAN USE
Rate Watch - Mortgage rates rose on solid job news after holding steady the previous week. The 30-year fixed mortgage rate averaged 6.21% for the week ending Jan. 11, up from 6.18% the prior week, according to Freddie Mac. 15-year fixed mortgages also rose slightly to 5.96% … (0 comments)
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michigan: MORTGAGE NEWS YOU CAN USE - 12/21/06 02:18 PM
Rate Watch - Freddie Mac reported on Dec. 14 that 30-year fixed-rate mortgages averaged 6.12%, up from 6.11% two weeks back. 15-year loan rates increased from 5.86% from 5.84%. With mortgage rates remaining near their lowest levels, exotic mortgage borrowers are now jumping into the safety of fixed-rate loans.
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As expected, the … (1 comments)
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michigan: Zero Down Loans - 12/11/06 01:38 PM
More and more of my clients in the Ann Arbor area are buying homes with no down payment loans. In the 1990's it was very rare for someone to buy a home in Washtenaw County without some sort of down payment (except for VA loans which always offered a no down … (5 comments)
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michigan: Mortgage News You Can Use - 12/08/06 01:51 PM
Mortgage News You Can Use!!
Rate Watch - Mortgage rates fell for the fifth consecutive week, sending rates to the lowest level in nearly a year. For the week ending Nov. 30th, 30-year fixed rates averaged 6.14%, down from 6.18% the previous week. A year ago 30-year rates were at 6.26%.
All eyes … (2 comments)
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