John Balladares's (jballadares) Blog

  The U.S. Treasury wants to quit writing paper checks. At the same time, it wants to give taxpayers more choices. Its latest effort consists of a pilot program to deliver tax refunds through prepaid debit cards. About 600,000 taxpayers earning $35,000 a year or less have received letters inviti...

Mortgage industry changes: Low rates and terms may soon be history You are going to be hearing a lot about restructuring the mortgage industry in the next months and years. But the bottom line for home buyers is buy now and get financing in place by as early as May. The great terms of recent yea...

  It's still a great time to buy real estate! With real estate inventories at an all-time high, and rates still at attractive levels, the window is wide open for home buyers. But buyers beware, the window doesn't stay open indefinitely. Take a look at the blog by Economists Outlook, which featur...

This week brings us the release of five reports that are considered relevant to mortgage rates but some of the data is considered to be very important and one is arguably the single most important data we see each month. We also have two Treasury auctions that have the potential to swing bond tr...

  With its extremely low down payment, the Federal Housing Agency (FHA) loan is the primary method for financing for homebuyers across the country. According to a recent Wall Street Journal article, the FHA loan will be undergoing some changes that could have a major effect on affordability. "Ab...

What would happen if loan giants Freddie Mac and Fannie Mae were shut down? A recent New York Times article explains that if the government eventually shuts down these companies, the 30-year fixed-rate mortgage loan could be a thing of the past. Homeownership as we know it could change drasticall...

  President Obama has signed a bill that has extended the tax deduction of mortgage insurance through 2011.  Here are the rules to remember in regards to this tax deduction: 1. Your purchase or refinance loan must close before Dec 31st, 2011. 2. Household income must be $100,000 or less to get t...

Points paid on a purchase transaction are a tax deduction in the year of the close of escrow Paying points can dramatically reduce the interest rate on the loan Lowering the rate lowers the payment, lowering the income needed to qualify A lower rate saves the buyer thousands of dollars over the ...

This week brings us the release of five monthly and quarterly reports for the bond market to digest. Two of the reports can be considered much less important than the others, but with mortgage-relevant reports scheduled four out of the five days we will still likely see some movement in rates a ...

  When the stress of a possible foreclosure rises, it is important to remember that there are many resources out there to help avoid it. The programs and agencies below all specialize in helping people avoid foreclosure on their homes: U.S. Department of Housing and Urban Development (HUD)800-56...