refinance: FHA and VA refinance - 11/23/09 02:07 PM
If you know of anyone in your data base that has a FHA or VA loan, now is the time to make a call to them. If their interest rate is at or above 6% then they should consider a refinance. With FHA and VA there is a "Streamline Refi" available. What … (0 comments)
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refinance: Fed Funds - 11/04/09 01:40 PM
The fed funds were left unchanged today. On that news the mortgage bond have seen some pressure and are off aobut 19bp's. This should move rates up slightly in the afternoon and tomorrow morning. Applications rose in the last week by 8.2% though. The next big event will be the auctions … (0 comments)
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refinance: $8000 tax credit - 10/27/09 02:35 PM
Well the Senate has the bill now to vote to extend the tax credit. Lets all hope they do. If they fail to extend this I believe the housing market will come to a crawl. This would be for two reasons. First the consumer confidence would be shot. Consumers would see … (1 comments)
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refinance: 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)
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refinance: Save the Down Payment Assistance Programs - 08/26/08 09:57 PM
Congress has this bill on the floor when they return from the Summer Break. We all need to voice our opinion to keep the Down Payment Assistance programs alive.
Congress introduced bipartisan legislation, H.R. 6694 that would reauthorize and reform charitable downpayment assistance. This bill would remedy a harmful provision in … (0 comments)
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refinance: 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)
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refinance: 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)
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refinance: 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)
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refinance: 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)
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refinance: 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)
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refinance: 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)
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refinance: 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)
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refinance: 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)
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refinance: 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)
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refinance: 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)
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refinance: 10 Ways to profit in a difficult market - 09/25/07 12:29 PM
Even though in Washington our market has not seen the woes of the national market I thought that I would put out here what I tell the people in my office. Below are a few things to consider in this market.
1) Pick a Niche: Choose a market that you want to … (3 comments)
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refinance: 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)
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refinance: Investors were spoiled with 100% loans - 08/20/07 02:19 PM
For the past few years it was a snap to get 100% financing on a Non Owner occupied property. Those days are about gone. I have 1 investor that I can still do them through. The only issue it that the interest rate is about 13.6%. There is a very slim … (4 comments)
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refinance: Understanding the Credit Crunch in lending. - 08/17/07 01:13 PM
The media has coined the phrase "Credit Crunch". Most people that I talk to have no idea what this is or what it means. All they see is on every news station that more lenders are going bankrupt or cutting programs. What I will attempt to do here is explain what … (2 comments)
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refinance: 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)
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