Add HUD / FHA as a Friend on Facebook? - 03/24/09 02:09 PM
Okay- so many of you already know this...
But the Federal Housing Administration (yep, FHA) now has a page on Facebook! 
AND!  If that wasn't cool enough (I mean you can leave questions on their WALL!) you can also follow them on Twitter!
Say what you might about Obama plans - but having access to information has never been this easy!  Look at the Fianancial Stability Plan! (click here) and The Making Homes Affordable Details (click here)!
Website designers are BUSY in Washington - and I like it!
 
 
… (6 comments)

Do I really need a home inspection? - 03/20/09 10:54 AM
Mortgage Companies do not require a home inspection - but we definately feel they are important!  This is great information for all!

Via Lee & Pamela St. Peter Your Raleigh NC Realtors ~ GRI, CRS, ABR (Prudential York Simpson Underwood Realty):
Why do I need to get an Inspection...
So often I hear this question!  Sometimes it's because my client is purchasing new construction, sometimes it's because they feel they are qualified to tell what the condition of the home is on their own..  But honestly people whether you are buying or selling a home, you should have a professional home … (6 comments)

Raleigh / Cary Fastest Growing Place in the Country! - 03/20/09 10:37 AM
With all the "Hoop Madness" going on - you might think of BASKETBALL!!   And we love our basketball here in NC!! 
But recently we were named the FASTEST growing area in the COUNTRY!  "Raleigh, and its Cary suburb (where I live) make up the fastest growing metropolitan area in the country, according to federal statistics released last Thursday!"
The FASTEST GROWING!  WOW!
My mom was an agent - and as kids, we routinely listened to her "speech."  Today, we might call it the "elevator" speech, but my mom is also from the south - and there's NO WAY you could've heard the whole thing … (3 comments)

New Opportunity for Investors? - 03/16/09 02:16 PM
The Obama administration is due to release details for the "Troubled Assets" on the Bank's books later this week.  Those would be the "Mortgage Loans" that went on the bank books in 2006 before all of this mess happened.
It appears to me that the plan fall along the lines of this... If the assets have been sitting on the bank books for an extended period of time, and maybe they have had a few lates on the mortgages, then the government is going to loan money to Private Investors to purchase them.  If the loans have been made under the … (9 comments)

HELLO! Appraisers use foreclosures to value your home! - 03/04/09 02:06 PM
I wrote earlier that I believe one of the reasons that CREDIT SCORES are getting tighter in NC is because of a squeeze in values... This is a GREAT piece of information!

Via Mary Thompson Lake Lanier Appraiser in Georgia (LakeFrontPros.com):
Okay first let me BUST a MYTH out there. The administration is telling people that even though YOU are not going to get bailed out while your neighbor who is going through foreclosure is, you should be happy because YOUR home will not suffer further loss in value if we can get these foreclosures sold and no longer sitting vacant, etc.
… (6 comments)

First Time Homebuyers! Get Your $8000 Piece of the Bailout! - 03/03/09 10:10 AM
There is a silver lining to all of this Bailout Business (thank goodness!) and it applies all First Time Homebuyers!  In the recent stimulus package, Congress, and President Obama wrote in a $8000 Tax Credit for First Time Homebuyer's who purchase a home between January 1, 2009 and December 1, 2009 (that's right, the actual law says DECEMBER ONE, so you need to close by November 30, 2009!)
The actual Credit is $8,000 or 10% of the purchase price, whichever is less.  It is a CREDIT.  This is much different than a Tax Deduction.  If your total tax liability came to $6,000, but you … (22 comments)

Contractors and FHA 203K Loans in NC - 03/02/09 01:14 PM
FHA offers a great mortgage program for folks who want to make improvements to their home (through a refinance) or those who are purchasing a home that needs some "TLC!"  The program's official name is 203k. 
If you are not familiar with the loan, you can find basic program details, like how the FHA 203K loan works, by clicking here.  If you want to know what Improvements are Eligablie (and not Eligable) with the FHA 203K mortgage program, please click here!  This program works GREAT for folks purchasing foreclosed property!
BASIC INFO ABOUT  FINDING AND HIRING
 A CONTRACTOR TO DO WORK … (16 comments)

 
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Eleanor Thorne 919-649-5057 Cary Mortgage Loans

Cary, NC

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Steve Thorne NC Mortgage Experts

Address: 111 Corning Road, Suite 230, Cary, NC, 27518

Office Phone: (919) 649-5058

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