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Condo Insurance - Don't be caught under covered on your HO6 policy - 02/29/12 09:43 AM
What you MAY NOT know about Condo insurance
Newer lender regulation REQUIRE people owning a condo and even some town homes to get homeowners insurance. This policy is similar to a “renters insurance policy“, but is actually called an HO6 policy.
If you or one of your clients owns a Condo or a Townhouse, there is an important coverage to consider.
It is called “extended protection”. this coverage protects the owner for any damages that may occur that the owners association will not pay because the master policy for the association has a deductible of $5,ooo or $10,000.
If for example, … (0 comments)
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Why you should wait until April to get a HARP 2.0 Loan - 02/27/12 05:26 AM
Why you should wait until April to get a HARP 2.0 Loan
Just a few years ago, consumers with weaker credit getting a conforming mortgage loan (one designed to be sold to Fannie Mae or Freddie Mac) got a great deal. If you barely qualified with a low 620 credit score, you got the exact same rate as someone with an excellent 800 credit score.
When the mortgage markets collapsed and the housing agencies started hemorrhaging cash, they instituted new fee policies known as Loan Level Pricing Adjustments (LLPA) and Adverse Market Delivery Charges (AMDC) as a means to fix their … (2 comments)
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The awesome FHA Streamline Refinance Program - 02/19/12 07:16 AM
The FHA Streamline Refinance Program
Minneapolis, MN: If you currently have an FHA mortgage you are eligible for one of the simplest money saving refinances available today.
The FHA Streamline Refinance allows existing FHA borrowers to reduce their interest rate without having to jump through a lot of hoops. Basically, if you have made on time payments on your current FHA loan for the past 12 months. You get (almost) an automatic approval for the streamline refinance! How COOL IS THAT?
Most current FHA loans qualify for a no out-of-pocket cost streamline refinance loan that lowers your FHA interest rate and reduces your … (2 comments)
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$25 Billion for not paying your mortgage. What next? - 02/10/12 11:53 AM
FEDERAL GOVERNMENT AND STATE ATTORNEYS GENERAL REACH $25 BILLION AGREEMENT WITH FIVE LARGEST MORTGAGE SERVICERS TO ADDRESS MORTGAGE LOAN SERVICING AND FORECLOSURE ABUSES
$25 billion agreement provides homeowner relief & new protections, stops abuses
WASHINGTON–U.S. Attorney General Eric Holder, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced on 02/09/12 that the federal government and 49 state attorneys general have reached a landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. The agreement provides substantial financial … (2 comments)
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Can you get a VA Jumbo Loans Over $417,000? YES! - 02/04/12 09:41 AM
Can you get a VA Jumbo loan?
Yes, the Department of Veterans Affairs has allowed Jumbo VA loans for years. The basic VA rule is their loan limit follows the Fannie Mae conforming loan limit, which is currently $417,000 in most of the country.
VA Loans also allows for higher loan limits in certain higher cost counties in states like Hawaii, California, and Florida. Conforming loan limits in some of those area can be more than $417,000. You can check VA loan limits in your area here, (select the Fannie Mae option) but generally speaking, the bulk of the country … (2 comments)
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Debunking two big myths about Real estate Agents - 02/01/12 09:01 AM
With millions of web sites to look at for home for sale listing, it is becoming more and more common for people to feel they don’t need the help of a licensed Real Estate Agent.
More specifically, people seem to ONLY be calling listing agents for the properties you want to see. The thought behind this I suppose is “I can get a better deal if I don’t involve another agent and contact the listing agent directly.”
While the listing agent loves you only calling them, here is why is is usually a costly mistake for home buyers.
Myth # 1- … (1 comments)
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Joseph Metzler MLO MMS NMLS # 274132.
,
MN
More about me…
Mortgages Unlimited, Inc
Address: 33 Wentworth Ave E #290, Saint Paul, MN, 55118
Office Phone: (651) 552-3681
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Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use.
Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.
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