FHA is Getting Tougher on Home Buyers! - 03/30/10 04:29 PM
FHA is getting tougher! What's The BUZZZ?
In an effort to shore up its flailing balance sheet and dwindling capital reserves , the Federal Housing Authority is rolling out sweeping financial changes. FHA borrowers have to look better on paper and be better credit risks.
Mortgage insurance premiums are rising, too.
Changes Effective April 5, 2010
In its official announcement , the FHA said it's trying to better position itself to "manage its risk while continuing to support the nation's housing market".
The changes are effective with case numbers assigned starting April 5, 2010.
One widely speculated change wasn't … (1 comments)

Green Living and Building - 03/17/10 12:12 PM
Thanks to Kate McCaffrey and StopWaste’s Grant Chen, Erin McNichol and Misty McKinney.   While on this site you can apply for a home loan, get rate quotes, or find your dream home!  Take a look around and let me know if you need my assistance! Theme Song Courtesy of Matisyahu.  … (0 comments)

The Attitude of the Home Seller According to Thomas Reuters - 03/17/10 12:10 PM
Interestingly enough, in a recent survey, Thomas Reuters and the University of Michigan indicates that it is sellers who are holding the market at low levels. In the survey results, approximately 75 percent of homeowners who participated in the survey viewed current home buying conditions as favorable because of attractive home prices and low interest rates. However, nine out of ten of those home owners viewed the conditions for the sale of their own home as unfavorable, not because of lack of buyers, but because of price declines.
Reuters goes on to suggest that these responses are predicting a long-term drag … (0 comments)

The Fed's Statement Didn't Surprise Anyone - 03/17/10 12:03 PM
The Feds statement didn't surprise anyone. Since markets don't like surprises, and there were none, things improved. The Feds stated "Economic activity has continued to strengthen and the labor market is stabilizing...Household spending is expanding at a moderate rate but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit...investment in nonresidential structures is declining, housing starts have been flat at a depressed level, and employers remain reluctant to add to payrolls. While bank lending continues to contract, financial market conditions remain supportive of economic growth. Although the pace of economic recovery is likely to be moderate … (1 comments)

 

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