ARCHIVED BLOG POSTS
2010
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Reviewing The FHA Mortgage Changes One widely speculated change wasn't made -- the increase of the FHA minimum downpayment. Homebuyers in Billings and elsewhere can still buy with just 3.5 percent down. However, the group did roll out a number of other changes, including: · An increase i...
03/31/2010
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just released the mortgage delinquency numbers by Fannie . the stand out is that despite what others are saying this chart does not show the government programs having any effect on people going into default. The Q4 numbers from the OTS and OCC on U.S. homeowner stress and the number of borrower...
03/31/2010
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Credit & LoansYour Rights: Credit Reporting Summaries of Rights Fair Credit Reporting Act Identity Theft The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies - Equifax, Experian, and TransUnion - to provide you with a free copy of your credit report, a...
03/30/2010
The following information provides a brief overview of the key features of the refinance option. Detailed guidelines will be announced by FHA Mortgagee Letter. 1. FHA Refinance Option for Underwater Homeowners - Encouraging Responsible Refinancings Voluntary option for lenders and borrowers E...
03/30/2010
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we are off to the races with the tax credit. what follows is three pieces of key information 1st is inventory second is pending sales and third is what i consider the important piece is comparing the two. at this point and probably through the end April as Long as pendings are climbing as fast as...
03/27/2010
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the federal government announced a new modification program toady to reduce principal amounts of loans . the amount to spent is $14,000,000,000 billion dollars. this amount sounds pretty impressive. the plan is to try and help 1,500,000 million homes owners. again sounds like a great plan yet whe...
03/26/2010
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The 35% increase of Texas foreclosures in February was the highest monthly gain of any state in the country, according to data from ForeclosureListings.com, an online foreclosure marketplace. Michigan had the second highest increase at 17.5%, followed by California at 11.9% and Florida at 4.7%. G...
03/25/2010
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The single family sales for new construction were released today they cam in at 308,000 units and the main stream media was surprised they declined. It amazes me the main stream media can not figure out that unless you are employed it is very difficult to qualify for a home purchase. The other ma...
03/25/2010
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comments from the federal president of San Fransico well worth reading if you have any interest in housing It was housing of course that led the economy down. The great bust wiped out some $7 trillion in home values. In the second half of 2009 though, housing showed signs of stabilizing and I bec...
03/23/2010
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just wanted to make sure everyone understands timing on the tax credits. Both the first time buyer($8,000) and the existing home owner ($6,500) require you to have a purchase agreement in place by April 30th 2010. On both credits you do not actually have to close the purchase until June 30th 2010...
03/23/2010
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