Diane Gerdes's (dianegerdes) Blog

This past week the administration serenaded the American housing market with the same old songs and repetitive lyrics. The HAMP loan modification program or  the banks refuse to reduce the principal balance program because it would hurt their bottom line planis blowing in the wind by reporting  a...

Question: My client  heard that there are no loans for the self-employed.  He owns his company and says he makes a lot of money. Is that true?   Answer:    Our great country is based on entrepreneurs that made the gutsy decision to control their own financial destinies.  The self employed encompa...

Question: Which is better option for my client a 3.5% down FHA loan or a 5% down conventional loan?    Answer:   FHA loan limits in Arizona are $346,250.  Conventional loans will go to $417,000.    The FHA payment will come to about $65.00 less based on a comparison to the loan amounts of $346,25...

The American Economy should take lessons from our 2010 Olympic champions.  The American athletes are playing with injuries that would put the rest of us in a hospital for an extended stay. At the very least you would find our battered bodies sequestered in our hot tubs (or in my case, a warm bath...

Bail outs are taking a whole different meaning in today's world.  A few short years ago bail out meant contacting Dennis, the bail bondsman to borrow money to get my irresponsible brother out of jail.    Now 15 members of the Euro Zone have gotten the call to bail out their financially reckless s...

Question: Is it true you can purchase a another home immediately after a short sale? I just received a flyer and it says my former short sale client can now buy another home.     Answer:  Well, maybe.   If your client sold his primary residence utilizing a short sale, the following are the FHA gu...

The new moon next week (no, not the one with beautiful blood sucking teenagers or ripped hairy guys) begins the Chinese New Year celebration of the Year of the Tiger.   Fireworks are a tradition: a call for the Dragon to come ward off evil spirits.     But the recent sparks between China and the ...