home loan: Tougher lending is not always a bad thing - 10/29/08 09:18 AM
Some of the program changes are not all bad for us. Back in about 2002 and before when you got a home loan you had to provide 2 years of w-2's, a month of pay stubs, bank statements, show job stability and have decent credit. Then you sat down with a … (0 comments)
|
home loan: Down Payment Assistance, know it for 2008 - 06/04/08 12:23 PM
With all the tightening in the lending industry lately. FHA and VA loans are definately on the upswing. Did you know that you can get the 3% down for FHA and the closing costs for both paid by the seller. If it is your seller than you should look into all … (2 comments)
|
home loan: 100% financing is going away - 03/20/08 06:55 PM
The only true 100% financing left will be VA.
FHA is still at 3% down payment. This program allows 6% to come from other parties. So the 3% down payment and the closing costs can be covered through seller concessions.
All other first time homebuyer programs will be with a 3% … (4 comments)
|
home loan: Conforming Loan Limits for 2008 left unchanged - 11/27/07 12:49 PM
With the state of our markets it suprises me that they left the loan limits alone. Here in Washington it is very easy to surpass the loan limits and the underwriting for Jumbos is more strict. Well atleast the rates are great right now with a 30 yr fixed just below … (1 comments)
|
home loan: Sound Fundamentals Promise Improved Housing Market - 11/14/07 09:42 AM
It was a mystery that only the crack investigators at RSI - the REALTOR® Scene Investigation - could uncover. Faced with the conundrum of consumers staying on the homebuying fence in the midst of solid U.S. economic performance, NAR President Pat V. Combs, in a spoof of the hit TV show … (3 comments)
|
home loan: HUD Defeated on Down-Payment Assistance - 11/01/07 11:40 AM
HUD's ban on seller-financed mortgage down-payment assistance programs has been temporarily blocked by U.S. District Court Judge Paul Friedman. In a four-page ruling, Friedman said the rule threatens to put nonprofit organizations offering such programs out of business and added that HUD "failed to supply a reasoned analysis for its departure … (0 comments)
|
home loan: Pitches to fix bad credit can be a scam - 10/25/07 01:14 PM
By Michelle Singletary
Every day, consumers pay untold sums to companies that promise a quick credit fix. Most of the time, that money is wasted.I understand why these offers might seem so enticing. Good credit can get you much better interest rates for a car or home loan. A bad credit history … (1 comments)
|
home loan: Good news for short term rates. - 10/22/07 01:49 PM
The Federal Reserve will do whatever is necessary to prevent damage to the economy from the credit crunch that has gripped Wall Street, a Fed official said Monday, warning it will take time for financial markets to fully recover from the strains.
Fed Governor Randall Kroszner's remarks came as fears about … (1 comments)
|
home loan: buying down the rate. A sellers carrot! - 10/18/07 06:15 PM
To make their homes more attractive and more affordable to prospective buyers, sellers have options. From a purely financial point of view, the obvious way that comes to mind is to simply lower the asking price. Another way that has been discussed recently in this column is to agree to pay … (4 comments)
|
home loan: Another helpfull listing tool - 10/11/07 11:55 AM
Payment Abatement -No Payment For Up to 6 Months!
The interest abatement program is a feature available on many purchase programs.
With payment abatement a special escrow account is set-up to pay a portion or all of the borrower's monthly payment during the first 3 to 6 months the loan is open.
The escrow … (3 comments)
|
home loan: FHASecure could help many of your clients - 10/02/07 03:38 PM
WHAT IS FHASecure?
FHASecure is a refinancing option that gives credit-worthy homeowners, who were making timely mortgage payments before their loans reset but are now in default, a second chance with a FHA insured loan product.
WHO IS ELIGIBLE
Eligible homeowners must meet the following requirements:
•1. Have a non-FHA insured ARM that … (1 comments)
|
home loan: Over 40 funny stuff to lighten your day. - 09/06/07 03:59 PM
Mom used to cut chicken, chop eggs and spread mayo on the same cutting board with the same knife and no bleach, but we didn't get food poisoning.My Mom used to defrost hamburger on the counter, AND I used to eat a bite raw sometimes, too. Our school sandwiches were wrapped … (1 comments)
|
home loan: Unique open house idea - 08/14/07 03:04 PM
I was at an open house with an agent of mine last Thursday in Everett, WA. We were talking about how 3-4 months ago there might be 10-15 open houses on the tour date. This particular day there was 39! Granted our listings in the area are up about 51%. So we … (7 comments)
|
home loan: Ways to improve your credit and great info for your clients - 08/10/07 01:59 PM
With all the stuff happening out in the mortgage industry higher credit scores are needed on a variety of loans. So I wanted to give some basic information to help people out there maintain there own credit and gives more information to pass on to your clients. I was teaching a … (5 comments)
|
home loan: 100% financing is still there - 08/08/07 07:00 PM
At my office in Everett Washington, I heard these realtors saying that the only loan that was close to 100% was FHA. This week alone lenders like Countrywide, National City, US Bank and Washington Mutual are all scaling back some of their programs. There is still a great program or 2 out … (1 comments)
|
home loan: Program Cuts and the fed - 08/07/07 03:25 PM
National City Home Equity and Washington Mutual are among the big lenders that are scaling back their no-money-down mortgage offerings, and some lenders have decided to stop making zero-down mortgages available altogether. The move comes at a time when the number of bad loans continues to increase, with lenders now equating … (0 comments)
|
home loan: Refinancing in Lake Stevens - 07/31/07 03:55 PM
Refinancing in Lake Stevens is not as tough as all the media is claiming. Yes there has been a slough of sub prime lenders that have went out of bussiness. Today American Home Mortgage stopped funding loans. Some people may ask, How does that effect my refinance in Lake Stevens. Well … (0 comments)
|
home loan: Another lender in trouble - 07/31/07 12:09 PM
American Home Shares DelayedAfter Banks Make Margin Calls
By MIKE BARRISJuly 30, 2007 11:31 a.m.NEW YORK -- Shares of American Home Mortgage Investment Corp. didn't open for trading Monday morning after the company said late Friday its banks are demanding it put up more cash after the mortgage lender wrote down the … (2 comments)
|
;)
Links;)
Archives
