mortgage news: Changes to Making Home Affordable and Hope for Homeowners - 05/02/09 11:56 AM
Making Home Affordable - Part 2by Jim Sahnger*In an effort to fill in some of the gaps exposed in the initial Making Home Affordable (MHA) program, Washington has stepped up its efforts to assist more distressed homeowners. In a press release on April 28th, the U.S. Treasury announced an update to … (2 comments)
mortgage news: Federal Reserve Surprises Financial Markets - 03/19/09 07:59 AM
Here we go again, with the talking heads on financial news misinterpreting the impact of the Fed's actions on home loan rates.
Here's the scoop. What the Fed just announced is huge - they have committed to buy another $750B in Mortgage Backed Securities, and $300B in Treasuries.
But what … (0 comments)
mortgage news: Federal Reserve Surprises Financial Markets - 03/19/09 07:58 AM
Here we go again, with the talking heads on financial news misinterpreting the impact of the Fed's actions on home loan rates.
Here's the scoop. What the Fed just announced is huge - they have committed to buy another $750B in Mortgage Backed Securities, and $300B in Treasuries.
But what … (0 comments)
mortgage news: Imminent FHA Guideline Changes - 03/18/09 01:51 PM
According to a letter that went out to lenders this week, The Federal Housing Administration (FHA) plans to make it tougher for borrowers to secure a cash-out refinance mortgage.
Until now, the FHA has approved cash-out refinances for homeowners who have at least 5% equity in their properties and a record … (0 comments)
mortgage news: FHA Changes Cash-out Refi Guidelines - 03/17/09 12:52 PM
This update from FHA Letter 2009-08 establishes temporary cash-out refi guidelines.
Here are the 9 things you need to know about these changes:
1. This is a temporary change, and effective as of April 1st, 2009 (No, it's not a joke).
2. When adding a simultaneous 2nd lien, there will … (0 comments)
mortgage news: Tax Credit for Homebuyers - 02/20/09 04:39 PM
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction - a tax … (4 comments)
mortgage news: ****NJHMFA Police & Firemen's Retirement System Interest Rate Change to 3.75%**** - 02/03/09 09:26 AM
Effective February 15, 2009the interest rate for the Police & Firemen's Retirement System Mortgage Loan Program will be 3.75%.
This program is only available for First Time Home Buyers.
Currently there is approximately $64,000,000 in available funds.
Funds dried up very quickly the last time these moneys were made available, so … (2 comments)
mortgage news: The Fed Meets Next Week, Act Now! - 01/22/09 01:26 PM
Superior Home Mortgage Corp. licensed in DE, FL, GA: Georgia Residential Mortgage Licensee #14511, MD, MI, NY: Licensed Mortgage Banker - NY State Banking Department, NC, PA, SC, VA: Virginia State Corporation Commission License # MLB-566, & DC. Superior Mortgage Corp. licensed in CT, MA: Mortgage Lender License # MC3208, … (2 comments)
mortgage news: Changing The Rules - Mortgages and The World Series - 01/21/09 10:26 AM
I came into the office this morning to find the latest email notifying me of guideline changes. In the current mortgage environment, this is a daily occurrence. Often, we are notified ahead of time regarding changes and loans in progress get grandfathered into the previous guidelines. Other times changes take place … (0 comments)
Freddie Mac and Fannie Mae will implement a revised Home Valuation Code of Conduct beginning May 1, 2009. In an attempt to increase the reliability of appraisals, the revised code builds on existing seller-servicer guidelines and will apply to lenders that sell single-family mortgage loans to Fannie Mae … (6 comments)
mortgage news: Why Now Is A Great Time To Buy A Home - 12/23/08 10:31 AM
For quite some time I have been hearing people offer their theories as to when we will hit the bottom of the housing market. So many are trying to time things just right so they can get the best possible deal. The reality is that we will not know when we've … (0 comments)
mortgage news: 4.5% Just A Dream??? - 12/08/08 11:13 AM
Last week everyone was a buzz with excitement. The Treasury announced they would step up the purchase of Mortgage-Backed Securities issued by Fannie Mae and Freddie Mac in a coordinated move to drive home loan rates down to 4.5%.
As rates have decreased the past week or so, mortgage companies saw … (4 comments)
mortgage news: 3 News Stories Every Homeowner Should Know - 12/06/08 06:12 PM
During tough financial times, news is king. A simple announcement from the media can instantly send the financial and mortgage markets racing in either direction. As the financial markets continue to adjust to the credit crisis, current and potential homeowners will have to adjust and react immediately as well. With … (2 comments)
mortgage news: Conforming Loan Limits Stay the Same - 11/11/08 02:13 PM
The Federal Housing Finance Agency (FHFA) announced that conforming loan limits for 2009 will remain at the 2008 level, except in certain high-cost areas. The good news, however, is that mortgage interest rates have remained favorable as well. Combine this with lower home prices and an increase in inventory in many … (2 comments)
The Federal Reserve is scheduled to meet this week and announce its new Policy Statement and Interest Rate Decision Wednesday...and will cut the Fed Funds Rate once again. This is no big surprise. Throughout 2008, the Fed has lowered key interest rates in an effort to stimulate the … (0 comments)
mortgage news: People Can Still Buy Houses - 10/09/08 01:21 PM
I received a call today from a customer I had not heard from in 8 months. He had contacted me originally about helping his dad buy a home. The last few times I had called him in February he did not return my calls, so I moved on.
Today he calls … (26 comments)
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Karl PeidlLincoln Mortgage Company251 Bellevue Avenue, Suite 102 Hammonton, NJ 08037© Copyright 2009. All About News, Inc.
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