Chris Brown - Orlando Mortgage Pro's Blog

Top 10 Things to Know about the Tax Credit Extension.

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 09 Nov 2009 15:54:58 -0600

General Rules for Orlando Home Buyer Tax Credit Seekers:

A "first time home buyer" is defined as someone who has not owned a home in the last three years. If you are a "first-time home buyer", your tax credit will amount to 10% of the purchase price of your new home not to exceed $8,000.

A "long-time resident" is defined as someone who has lived in the same primary home for 5 out of the past 8 years. If you are a "long-time resident", your tax credit will amount to 10% of the purchase price of your new home not to exceed $6,500.

The tax credit does not need to be paid back if you continue living in the home as your primary residence for three years without selling it

The home must be purchased for less than $800,000 before May 1, 2010. If you sign a binding contract to purchase a home before May 1st, you would need to close on the transaction before July 1, 2010.

Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit

You cannot purchase the home from a related party like a spouse, direct ancestor, or direct lineal descendent (child or grandchild); however, you can still qualify for the credit if you purchase a property from siblings, nephews, nieces, and others

If you are married, both spouses must qualify for the credit

If more than one unmarried individual is buying the property, the credit can be split up among all the individuals who qualify. However, the total credit taken cannot exceed $8,000 (or $6,500 for "long-time residents"). Alternatively, if only one of the unmarried buyers qualifies for the credit based on their income or past home ownership status, the individual who qualifies for the credit can claim the full credit.

The credit applies even if you have co-signers on your mortgage loan

The credit applies to 1-4 unit homes as long as you live in one of the units as your primary residence - you could live in one unit and rent out the others

How does the tax credit work? A tax credit is kind of like a gift certificate that you can use to pay your taxes - it reduces your income tax bill on a dollar for dollar basis. Imagine paying your bill at IRS Restaurant, and then later getting an IRS Restaurant gift certificate. Normally, you would need to go back to IRS Restaurant and buy more food in order to use your new gift certificate. But what if IRS Restaurant allowed you to just turn in your gift certificate for cash? That's how the home buyer tax credit works! All you need to do is file a form with the IRS after you buy your new home and they will send you a refund check for $8,000 (or $6,500) - just like the example of IRS Restaurant that allows you to exchange your gift certificate for cash! Remember though, you'll receive the $8,000 (or $6,500) from the IRS AFTER you purchase your new home, so you cannot use the funds to help with your down payment.

Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the many leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and has been recently featured on Fox35 News.

Chris can be found at Orlando FHA Loans, Chris[at]OrlandoMortgagePro[dot]com, or by calling 407.377.0500 x 210

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A video created by a good friend, Dustin Hughes. If you need a mortgage in Oregon - he is your guy... need one in FL - I would be honored to help!

Chris Brown

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Tax Credit Update YouTube Video

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 09 Nov 2009 10:24:28 -0600

A video created by a good friend, Dustin Hughes. If you need a mortgage in Oregon - he is your guy... need one in FL - I would be honored to help!

Chris Brown

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

What's Ahead For Mortgage Rates This Week : November 9, 2009

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 09 Nov 2009 03:00:53 -0600

Mortgage markets were extremely volatile last week, carving out a wide range between Monday and Friday.

Thankfully for rate shoppers, the overall momentum was positive.

Mortgage rates fell for the second time in as many weeks. Rates still sit higher versus their early-October lows.

For pure "news", last week was a busy one:

The Federal Reserve held the Fed Funds Rate near 0.000 percent
The Unemployment Rate crossed 10 percent
The First-Time Home Buyer Tax Credit was extended to April 2010

Combined, the 3 events reinforced the growing belief on Wall Street that the U.S. economy is in recovery, but not yet out of the woods. This particular philosophy has been excellent for mortgage rates, helping to hold conforming 30-year fixed mortgage rates near 5.250 percent since the start of the year.

It helped rates last week, too. But low rates......

Read the COMPLETE BLOG POST HERE:

What's Ahead For Mortgage Rates This Week : November 9, 2009

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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.

Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Congress Expands And Extends The First-Time Home Buyer Tax Credit

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 05 Nov 2009 22:36:50 -0600

Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday.

The White House says the President will sign it into law today.

The up-to-$8000 tax credit's expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010.

The program's basic eligibility requirements remain the same:

Buyers can't purchase the home from a parent, spouse, or child
Buyers can't purchase the home from an entity in which they're a majority owner
Buyers can't acquire the home by gift or inheritance
All parties to the purchase must meet eligibility requirements

The new law includes some notable updates, however.

For one, the definition of "first-time home buyer" has been expanded to include most homeowners with at least 5 years in their current home. "Move-up" buyers like these are now eligible for IRS tax credits, but with a cap at $6,500.

This means that you don't have to be a true first-time home buyer to claim the "first-time home buyer tax credit".

Other eligibility changes include:.......

Read the COMPLETE BLOG POST HERE:

Congress Expands And Extends The First-Time Home Buyer Tax Credit

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

A Simple Explanation Of The Federal Reserve Statement (November 4, 2009 Edition)

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 05 Nov 2009 04:03:35 -0600

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.

In its press release, the FOMC noted that the U.S. economy "has continued to pick up" since the September FOMC meeting and that housing market activity has increased.

It's the third consecutive post-FOMC statement in which the Fed speaks optimistically about the U.S. economy -- a signal that the recession is likely over.

The economy isn't without threats, however, and the Fed identified several in its announcement, including:

Ongoing job losses for American workers
Reduced fixed investment by businesses
Ongoing challenges for the financial markets

The overall tone remained positive, however,........

Read the COMPLETE BLOG POST HERE:

A Simple Explanation Of The Federal Reserve Statement (November 4, 2009 Edition)

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Because Of The Federal Reserve, You Should Lock Before 2:15 PM ET Today

Chris Brown | Florida's #1 FHA Mortgage Broker — Wed, 04 Nov 2009 03:46:56 -0600

The Federal Open Market Committee caps off a scheduled, 2-day meeting today in the nation's capital, its 8th meeting of the year.

The group adjourns at 2:15 PM ET and, as is customary, will issue a press release reviewing its monetary policy and the health of the U.S. economy.

The FOMC's post-meeting statements are brief but comprehensive. They're a window into the mind of the Federal Reserve and Wall Street picks apart every sentence for clues.

It's why FOMC meetings tend to shake up the mortgage markets -- for good and for bad.

After its September 2009 meeting, the FOMC said in its press release:.....

Read the COMPLETE BLOG POST HERE:

Because Of The Federal Reserve, You Should Lock Before 2:15 PM ET Today

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Higher Home Prices Ahead, Says The Pending Home Sales Index

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 02 Nov 2009 22:13:40 -0600

The housing market continues to steam forward.

As reported by the National Association of Realtors®, the Pending Home Sales Index posted its 8th consecutive monthly gain in September.

It's the longest winning streak in the history of the index and Pending Home Sales are now at their highest levels since December 2006.

A Pending Home Sale is a home under contract to sell, but not yet closed. It's the precursor to an Existing Home Sale.

Trade group data shows that nearly 80 percent of "pending" homes close within 2 months. The majority of those remaining close within months 3 and 4.

When the Pending Home Sales Index rises, it tells us that........

Read the COMPLETE BLOG HERE:

Higher Home Prices Ahead, Says The Pending Home Sales Index

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Significance of the Home Buyer Tax Credit Extension and Changes

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 02 Nov 2009 08:31:30 -0600

The Florida First-Time Home buyer Tax Credit may soon be known as the Home Buyer Tax Credit… being opened to non-first time buyers for the first time.

As you have likely already read on My FHA Mortgage Blog - the Florida First-Time Home Buyer tax credit is on the verge of extension. I noted there that there are a few exciting changes that benefit you - the home buyer! Here is an explanation as to their significance. Those noteworthy changes between the current tax credit and the proposed tax credit are:

To read the Whole Blog Post please visit:

Significance of the Home Buyer Tax Credit Extension and Changes

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What's Ahead For Mortgage Rates This Week : November 2, 2009

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 02 Nov 2009 02:51:31 -0600

Mortgage markets improved last week after a series of hugely volatile trading sessions.

Rates carved out a wide range on the week, culminating in a late-Friday plunge that dropped rates by about 1/8 percent.

It was the first time in 5 weeks that mortgage rates fell.

Volatility like that of last week is nothing new on Wall Street; it's been a running theme in 2009. Volatility occurs when markets don't agree on what's next for the economy and, this year, there's been a lot of disagreement like that.

Data has been inconsistent. Take last week for example.

At 9:00 AM Tuesday morning, the Case-Shiller Index showed home prices rising nationwide. Because many analysts believe housing fueled the recession, strength in the sector is widely construed a positive for the economy.

Mortgage rates rose on the news.

But then, an hour later, the national consumer confidence report revealed a substantial deterioration in sentiment versus the month prior. The data forced Wall Street to do an about-face.

Housing is important to the economy, but it can't affect growth like consumer spending can. When Americans are less confident about their future income, they tend to keep their wallets closed, retarding economic growth.

Holiday Shopping Season is getting underway and......

Read the COMPLETE BLOG HERE:

What's Ahead For Mortgage Rates This Week : November 2, 2009

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

How To Find Good Deals As The Buyers Market Comes To An End

Chris Brown | Florida's #1 FHA Mortgage Broker — Fri, 30 Oct 2009 00:39:08 -0500

At some point in their lives, every home buyer in America has wondered "Is now the best time to buy a home?" In this 3-minute video, NBC's The Today Show does a good job of answering the question.

The conclusion? Yes, but not if you're going to overpay.

The Buyers Market is ending, we learn, as home prices rise across most of the country. Pockets of opportunity remain, however, and the focused home buyer can still find a "good deal".

Some of the video's tips include:......

Read the COMPLETE BLOG POST HERE:

How To Find Good Deals As The Buyers Market Comes To An End

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Should Congress Be Exempt From the Health Care They "CHOOSE" for the Rest of Us?

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 29 Oct 2009 10:29:52 -0500

On Tuesday, the Senate health committee voted 12-11 in favor of a two-page amendment, courtesy of Tom Coburn which would require all Members of Congress and their staff members to enroll in any new government-run health plan.

Congressman John Fleming has proposed an amendment that would require Congressmen and Senators to take the same health care plan that they would force on us.

(Under proposed legislation they are exempt.)

Congressman Fleming is encouraging people to go to his Website and sign his petition. The process is very simple. I have done just that at:

http://fleming.house.gov/

Senator Coburn and Congressman Fleming are both physicians.

Regardless of your political beliefs, it sure seems reasonable that Congress should have exactly the same medical coverage that they impose on the rest of us, does it not?

Please urge as many people as you can to do the same!

Thanks, H R 615 - Please forward to everyone you know

Read for yourself!

FREEDOM EDEN: John Fleming: H.R. 615 http://ow.ly/xkqH

HR 615 - Want No Part of Health Care Reform Bill | WhoVotedHow? http://ow.ly/xkrw

City-Data Forum http://ow.ly/xktm

http://www.opencongress.org/bill/111-h615/blogs

The FHA Mortgage Pro

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What The Media About September's New Home Sales Report

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 29 Oct 2009 02:12:53 -0500

Some days, newspaper headlines are a terrible place to get your real estate news.

Today is one of those days.

After the September New Home Sales report showed sales volume down from August, the mainstream media jumped on the story:

But the headlines miss the point, somewhat. Yes, home sales volume is important to housing, but it's not as important as home supply.

A deeper look at the New Home Sales data reveals an interesting comparison point:

New home sales volume fell 3.6%
The number of new homes available for sale fell 3.8%

In other words, sales outpaced.......

Read the COMPLETE BLOG HERE:

What The Media About September's New Home Sales Report

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Home Values In 95% Of Case-Shiller Markets Are Improving Year-To-Year

Chris Brown | Florida's #1 FHA Mortgage Broker — Wed, 28 Oct 2009 04:29:25 -0500

For August, the Case-Shiller Index showed annual home values improving across 19 of 20 U.S. markets. It's the first time in 3-plus years that the benchmark housing index has shown such strength.

According to a Case-Shiller Index spokesperson, "The rate of annual decline in home price values continues to improve."

It's yet another sign that housing may have already bottomed.

However, just because the Case-Shiller Index shows a stabilization in home values, that doesn't necessarily make it true. This is because real estate happens on the local level and the Case-Shiller Index is more "national". It tracks data in just 20 U.S. cities.

Homeowners everywhere else are.......

Read the COMPLETE BLOG HERE:

Home Values In 95% Of Case-Shiller Markets Are Improving Year-To-Year

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Falling Home Supplies Mean More Multiple-Offer Situations For Buyers

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 26 Oct 2009 23:19:53 -0500

The national housing supply fell to a 2-year low last month, according to the National Association of Realtors®.

At the current sales pace, existing home inventories would sell out in 7.8 months -- 30 percent faster versus November 2008.

For a 10-month window, that's a major housing supply reduction and it helps to explain why multiple-offer situations have been so common lately.

Moreover, the same report from NAR showed sales activity reaching its highest point since July 2007, too.

If you're looking for evidence that the long-standing Buyers Market is ending, this month's Existing Home Sales report might be it.

Even median sales prices -- typically dragged lower by..............

Read the COMPLETE BLOG POST HERE:

Falling Home Supplies Mean More Multiple-Offer Situations For Buyers

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

What's Ahead For Mortgage Rates This Week : October 26, 2009

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 26 Oct 2009 02:25:17 -0500

Mortgage markets were volatile last week, making it very difficult to shop for mortgage rates.

On most days, lenders issued multiple rate sheets with the trend putting rates higher in the morning, and lower in the afternoon.

Overall, mortgage rates were unchanged on the week. It broke a three-week streak through which mortgage rates rose.

Rates remain roughly one-half percent higher than the lows of early-October.

The biggest positive for rate shoppers last week was tame economic data -- specifically concerning the Producer Price Index and the housing sector.

The Producer Price Index is an inflationary, Cost of Living-like measurement for businesses and it went negative in September. Analysts weren't expecting that and the surprise pulled rates down an eighth.

Similarly, in housing, both the Home Price Index and ......

Read the COMPLETE BLOG POST HERE:

What's Ahead For Mortgage Rates This Week : October 26, 2009

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Government : Home Prices Edged Lower In August

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 22 Oct 2009 23:56:46 -0500

According to the government, home values edged lower last month.

The Federal Housing Finance Agency's Home Price Index report shows values down by 0.3 percent from the month prior -- the index's first down month since April.

The Home Price Index is based on the value of homes financed via Fannie Mae or Freddie Mac and, in this sense, the FHFA Home Price Index is more of a "national" real estate index that its private-sector cousin, the Case-Shiller Index.

But like the Case-Shiller, the HPI is as notable for what it specifically excludes as for what it includes. Most notably, the Home Price Index doesn't account for homes meeting any of the following descriptions:.......

Read the COMPLETE BLOG POST HERE:

Government : Home Prices Edged Lower In August

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Google + Tweets+ Local Info = BUSINESS for me!

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 22 Oct 2009 11:07:11 -0500

Via Erica McClenny (eRealty Inc.):

Google, Tweet and find me faster!

Tweet, tweet says I! If you'd like to propose real time information to your clients, potential buyers and sellers or just reach out to folks who haven't embraced all that the social media world offers...your words will now reach people faster than ever.

Think about someone looking for a Foreclosure in (Your Area)...you can post a specific property and there's a potential that they will see a short Twitter post instead of that blog post, that takes you minutes (or hours for some) to type up. Quick info, quick response will equal an increased bottom line.

THIS IS BIG NEWS!

Official Google Blog

10/21/2009 02:09:00 PM

At Google, our goal is to create the most comprehensive, relevant and fast search in the world. In the past few years, an entirely new type of data has emerged — real-time updates like those on Twitter have appeared not only as a way for people to communicate their thoughts and feelings, but also as an interesting source of data about what is happening right now in regard to a particular topic.

Given this new type of information and its value to search, we are very excited to announce that we have reached an agreement with Twitter to include their updates in our search results. We believe that our search results and user experience will greatly benefit from the inclusion of this up-to-the-minute data, and we look forward to having a product that showcases how tweets can make search better in the coming months. That way, the next time you search for something that can be aided by a real-time observation, say, snow conditions at your favorite ski resort, you'll find tweets from other users who are there and sharing the latest and greatest information.

Posted by Marissa Mayer, Vice President of Search Products and User Experience

Follow me here for updated Raleigh, NC, Wake County, NC and North Carolina foreclosures searches. I offer FREE Foreclosure searches for all my home buyers looking for Raleigh real estate.

Follow my TWEETS @EricaMcClenny

Erica McClenny, Broker/Realtor

eRealty Inc.

o) 919-844-4686

Helping home buyers and sellers save $$$ in Raleigh, Cary, Wake County

& the Greater Triangle area.

Happy House Hunting!

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

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As Gas Prices Rise, Mortgage Rates Are Rising, Too

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 22 Oct 2009 04:36:01 -0500

With crude oil at its highest levels since October 2008, retail gas is up 8 cents per gallon this week.

It's bad news for home buyers and mortgage rate shoppers. The same force that's driving oil higher is linked to rising mortgage rates.

We're talking about the weakening U.S. Dollar which is now at its worst levels versus the Euro in 15 months.

Crude oil is priced in U.S. dollars, by the barrel. When the dollar loses value, more of them are needed to buy the same barrel of oil. As a result, predictably, the price of crude oil goes up.

Now, there are other reasons why crude oil is rising, but the fading U.S. dollar is one of the major ones and it's why we're addressing it.

The dollar has a similar impact on mortgage rates.

Mortgage rates are based on the...

Read the COMPLETE BLOG POST HERE:

As Gas Prices Rise, Mortgage Rates Are Rising, Too

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Previewing The New Good Faith Estimate

Chris Brown | Florida's #1 FHA Mortgage Broker — Tue, 20 Oct 2009 00:08:43 -0500

The new Good Faith Estimate makes its debut January 1, 2010.

Expanded from 1page to 3, the legislators responsible for the new Good Faith Estimate want it to be simpler for homeowners and home buyers to understand than the former version.

By most accounts, Congress will meet this goal.

The new Good Faith Estimate includes plain-English explanations of every fee, charge, and interest payment involved in a purchase or refinance. It also includes a section called "The Shopping Cart" in which applicants can compare lenders.

The new Good Faith Estimate is concise, too. Using a series of "Yes/No" checkboxes on Page 1, mortgage lenders specifically note:..............................

Read the COMPLETE BLOG HERE:

Previewing The New Good Faith Estimate

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

How Do I know the difference between the Flu and the Swine Flu?

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 19 Oct 2009 08:57:01 -0500

Okay, I am no Doctor, I don't even play one on TV... but what I do know is that what people care about is useful information online, and that is what Orlando Mortgage Chili Blog is all about.

So - here it goes.

I encourage you to do your own research as well - even check with your doctor before taking this to heart, but here is a nice, succinct chart on comparing the regular cold or flu with the H1N1 Swine Flu.

To see the FULL comparison Chart:

How Do I know the difference between the Flu and the Swine Flu?

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The FHA Mortgage Pro

that FHA Mortgage Pros go to

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What's Ahead For Mortgage Rates This Week : October 19, 2009

Chris Brown | Florida's #1 FHA Mortgage Broker — Mon, 19 Oct 2009 03:21:14 -0500

Mortgage markets worsened last week on better than expected economic data, causing mortgage rates to rise.

Last week was the third consecutive week that mortgage rates moved higher and, since touching a multi-month low in early-October, conforming mortgage rates are up by about a half-percent.

It's likely rates will continue to rise, too. That's because the same force that held rates down for so long is now the force pulling them up -- expectations for the U.S. economy.

Over the last 6 months, it wasn't clear in what direction the country was headed. The housing sector has been gaining in strength, but the rest of the economy has been a question mark.

Last week put an end to some of those questions:.............

Read the COMPLETE BLOG HERE

What's Ahead For Mortgage Rates This Week : October 19, 2009

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

The Fed Thinks The Economy Is Improving And What It Means For Home Affordability

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 15 Oct 2009 23:11:05 -0500

Mortgage rates are higher after the Federal Reserve released the internal notes of its September 22-23, 2009 meeting.

Known as the "Fed Minutes", the report details the conversation and cross-currents that led to the Federal Reserve's decision to vote "unchanged" on the Fed Funds Rate after its last meeting.

The Fed Minutes are the lengthy companion to the more famous, succinct post-meeting press release.

As a comparison:

Press Release: 383 words
Minutes: 6934 words

The extra level of details is a big deal because Wall Street is perpetually in search of clues about what the Federal Reserve is going to do next.

In the past week, multiple Federal Reserve members hinted that..............

Read the COMPLETE BLOG POST HERE

The Fed Thinks The Economy Is Improving And What It Means For Home Affordability

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

Foreclosure Activity Remains Concentrated In Just 4 States

Chris Brown | Florida's #1 FHA Mortgage Broker — Thu, 15 Oct 2009 00:37:52 -0500

For the seventh consecutive month, foreclosure activity in the U.S. was dominated by a tiny subset of states.

As reported by RealtyTrac.com, more than half of September's foreclosure-related activity occurred in just 4 states:

California
Florida
Nevada
Michigan

These states represent just 22.05 percent of the total U.S. population.

Overall, foreclosures are up 29 percent from September 2008 and, while, the data seems negative, defaults are creating some interesting buying opportunities.

Foreclosed homes often sell at a discount as compared to non-foreclosed homes. Cheap prices, low mortgage rates and willing buyers have helped to spur home sales in many U.S. markets. In August, "distressed homes" accounted for one-third of all existing home sales.

That said, buying foreclosures isn't for everyone.

First off, foreclosed homes are often sold "as-is" and may be in perfect condition,...........

Read the COMPLETE BLOG POST HERE:

Foreclosure Activity Remains Concentrated In Just 4 States

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

What's Ahead For Mortgage Rates This Week : October 13, 2009

Chris Brown | Florida's #1 FHA Mortgage Broker — Tue, 13 Oct 2009 23:07:40 -0500

Mortgage markets worsened last week as investors responded to a recovering global economy.

Despite briefly touching their lowest levels since May, mortgage rates ended the week dramatically higher.

It's the second straight week that rates soared on a Friday.

For several months, Wall Street has been in limbo; undecided whether the economy is truly showing signs of improvement. Negative news has tended to sink rates while positive news has tended to do the opposite.

Lately, investors have been in search of signals anywhere signals can be found. Last week -- sans hard-hitting economic data -- those signals came from the worlds' Central Banks.

Shortly after Australia raised its interest rates by one-quarter percent, Fed Chairman Ben Bernanke suggested that........

Read the COMPLETE BLOG POST HERE:

What's Ahead For Mortgage Rates This Week : October 13, 2009

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.

It's A Good Time To Look At Adjustable-Rate Mortgages

Chris Brown | Florida's #1 FHA Mortgage Broker — Tue, 13 Oct 2009 01:37:20 -0500

According to the Freddie Mac weekly mortgage rate survey, the relative cost of a 5-year ARM is dropping versus its 30-year fixed-rate cousin.

During the first 5 months of 2009, the products ran neck-and-neck. Today, they're a half-percent apart.

On a $200,000 home loan, that's a difference of $60 per month.

Adjustable-rate mortgages aren't for everyone, but for the right household, they can be a terrific fit. A few scenarios that warrant consideration of a 5-year ARM include persons:...

Read the COMPLETE BLOG POST HERE:

It's A Good Time To Look At Adjustable-Rate Mortgages

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Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

The FHA Mortgage Pro

that FHA Mortgage Pros go to

when they need an FHA Mortgage Pro.

Orlando FHA Loans | MortgageChiliBlog.com.