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mortgage: Housing Stimulus Bill Signed - July 30, 2008 - 07/30/08 04:14 PM
President George Bush put pen to paper today and signed the Housing and Economic Recovery Act of 2008. There is a lot to this bill, some good and some bad. Here are the highlights: the good, the bad and the hideously ugly...
Conforming Loan Limits
Conforming loan limits were permanently set at $417,000 or 115% of local median home price (with a $625K cap), whichever is greater. For those of us here in Tucson, that means a conforming limit of $417,000. This will allow those needing to borrow money up to that amount to do so at "normal" rates as opposed … (6 comments)
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mortgage: I Paid for my House - Why Can't I Get the Keys??? - 06/20/08 02:34 PM
Why would we sign all the documents, put down all our money, and have to wait another day to receive entry into our home?
This was a question posed to me by a client recently and it is a fantastic question that deserves an answer. It doesn't make sense that you would pay for a home and have already signed the documents and still be waiting to get the keys, right?
Well, the problem here is that even though my clients put down a sizeable down payment, they were still not paying for the home in its entirety. Like many other people, … (2 comments)
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mortgage: Alternative Financing - Popular Again - 02/05/08 11:05 AM
According to an article in Realty Times, homeownership is "plunging" as people continue to have difficulties obtaining mortgage loans. This article also indicates that affordability is lower as it takes more income to purchase a home than in prior years.
While it is true that it is currently more difficult to qualify for traditional mortgages, it is also a fact that sellers who really need to sell their homes will do what they have to do to get the job done. As in past times, alternative forms of financing are becoming more popular and I predict that they will continue to remain popular until traditional mortgages … (2 comments)
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mortgage: FHASecure or Insecure? - 01/14/08 12:09 PM
A little-discussed addition to the Bush Administration's plan to help stop foreclosures last year was the addition of a new FHA loan product called FHASecure. The idea behind this plan is to relax qualifying restrictions somewhat so that people who have ARMs (Adjustable Rate Mortgages) that are resetting can get into a new loan and continue to make timely payments.
That sounds like a good plan, right? Let's talk about the details.
1) FHASecure mortgages will only be available through the end of this year. The application must be signed on or before December 31, 2008.
2) FHASecure allows for loan amounts and combined … (5 comments)
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Robin Willis, Tucson's Expert Agent, Realty Executives
Tucson,
AZ
More about me…
Realty Executives Southern Arizona
Address: 1849 N Kolb Rd, Tucson, AZ, 85715
Office Phone: (520) 886-8282
Cell Phone: (520) 481-3695
Email Me
Tucson, AZ is a varied and exciting community to live in. Whether you are buying or selling a home, it's vital to have someone on your side who has the information pertinent to your area.
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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