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Under a decision announced last week, the U.S. Department of Housing and Urban Development (HUD) will allow eligible first-time home buyers to use the tax credit authorized under The American Recovery and Reinvestment Act of 2009 during the actual home purchasing process.   However this Mortgagee Letter 2009-15 issued on May 11th appears to have been rescinded effective May 13th.  So in short, as it stands currently first time home buyers.....continue reading

 
Posted by James R. Venney CMP, CMPS on 05/29/2009 10:07 PM   Comments (0)  
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The Condo Paradox, Distruction Of A Market Place
James R. Venney CMP, CMPS (Gibraltar Private Bank & Trust)
March 16th, 2009 by James Venney Categories: Home Mortgage News Comments: No Comments » Would you be outraged if you found out that the Federal Government was taking actions that are slowing the pace of the recovery in the…
First Time Home Buyer Tax Credit Fact Sheet
James R. Venney CMP, CMPS (Gibraltar Private Bank & Trust)
As most of you know my work is focused almost exclusively on providing financing for luxury homes and therefore first time home buyers are not my area of expertise but I am aware that many will have questions regarding the new Tax Credit that is…
A Jumbo Rumor That Can Cost You Plenty
James R. Venney CMP, CMPS (Gibraltar Private Bank & Trust)
If you are a savvy luxury home buyer looking to take advantage of historically low interest rates and the dramatic price reductions in the high end market dont’ be mislead by the rumor on the street that Jumbo financing is not available…
What Are The Banks Doing With Your Tax Dollars?
James R. Venney CMP, CMPS (Gibraltar Private Bank & Trust)
Wells Fargo is the first of the major financial institutions to announce that it is paying a quarterly dividend of $371. 5 million back to the Federal government on the preferred shares the bank issued when it received TARP funds. Wells Fargo…
State Farm Won’t Roll The Dice In Florida | Should They Get You Auto Insurance Business?
James R. Venney CMP, CMPS (Gibraltar Private Bank & Trust)
State Farm is the most recent of the national insurance carriers to announce that it will no longer be writing home owners insurance policies in the state of Florida. This announcement will effect approximately 1. 2 million Florida households many…
More Buyers Qualify Through The Private Mortgage Bank
James R. Venney CMP, CMPS (Gibraltar Private Bank & Trust)
Success has it's privileges one of which is Private Mortgage Banking. I am in the twin cities of Minneapolis / St. Paul (yes, it's freezing… why don't they hold these events in Hawaii? ) attending a Private Mortgage Bankers conference and I…
Why Prime Rate Is Not Going Down
James R. Venney CMP, CMPS (Gibraltar Private Bank & Trust)
There appears to be a lot of confusion about what the Federal Reserve did last week in response to the developing credit and liquidity crisis. The Fed lowered the "Discount Window" rate by 5%. The Discount Window rate is the interest rate…
 

James R. Venney CMP, CMPS

Coral Gables, FL

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Gibraltar Private Bank & Trust

Address: 220 Alhambra Circle, 5th Floor, Coral Gables, Fl, 33134

Office Phone: (305) 476-5539

Cell Phone: (305) 389-5061

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