Mortgage Rates on the Rise! Waiting to Buy May Cost You More Than You Think! - 06/12/08 05:31 PM
Mortgage rates keep climbing and bernake has indicated that the Fed may start to raise its rates soon in an attempt to curb inflation. 
Many experts are stating that we will likely see the Fed increase rates before the end of the year. 
Anyone who is thinking about buying a home and thinks that it make sense to wait and see, might want to consider where rates are going before sitting out too long.  Even if values are still dropping in the area that you are looking to buy, if the rates keep climbing and at the same time the loan … (2 comments)

Is FHA Going to Create it’s Own Meltdown? How Long Can FHA Hold Out? - 06/12/08 11:19 AM
It seems that FHA, which has recently been the "solution" for many home buyers and homeowners may be the next top headline in the mortgage crisis in the near future.
 Let's look at the facts:
 FHA is the only alternative to buy a home with Zero Down.
            Buyers and Sellers must agree to use a 3rd party down payment assistance program
 FHA does not have any restrictions in regard to declining markets
            While Fannie Mae and Freddie Mac, have both removed their declining markets policies recently, the companies that provide mortgage insurance to borrower who have less then 20% … (0 comments)

Appraisals and Why the Mortgage Professional Needs to Order Them - 06/03/08 07:11 PM
I have noticed a few posts out there from Real Estate Agents wondering why the Mortgage Company needs to order the appraisal and not let the home buyer order it from his or her friends.
There are several answers for this, but the most relevant to today's market is simply that it is a good ANTI-FRAUD Policy.  Basically if you have a home buyer or home owner who is purchasing or refinancing a home and they want to use an appraiser that they know personally, there may be additional influence or pressure being placed on the appraiser by the home owner … (2 comments)

 

James Mucci

Clinton Township, MI

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Sierra Pacific Mortgage

Address: 0, MI

Cell Phone: (586) 709-2100

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