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fha: FHA mortgage insurance increases - 04/20/11 04:09 PM
FHA Mortgages Are Now More Expensive
FHA loans are guaranteed by the federal government. Should a home owner default on her monthly payments, the U.S. Department of Housing and Urban (HUD) development has committed to paying the lender a percentage of the default on the debtor's behalf. Part of the payments made on an FHA loan is based on a monthly insurance fee, otherwise known as a mortgage insurance premium (MIP). The second increase in MIP since October 2010 took effect on Monday 18, 2011. The upfront MIP remained unchaged at 1%.
What this means is on a $200,000 loan the monthly payment … (2 comments)

fha: Financing a condo? Five things you should know - 10/07/10 08:32 PM
From Fox Business and HSH.com - "While condominiums took the brunt of home value loss in many places across the country, they also represent some of the biggest bargains around. Here's what you should know before shopping for a condominium and a condo loan.
For most people, buying a condo means financing a condo. In today's lending environment, financing a condo is not an easy accomplishment. Learn what's required for a condominium loan so you don't waste your time on units you can't finance or even afford."Five things that you should know:
The condo catch-22 
Fannie and Freddie financing 
FHA condo … (4 comments)

fha: Could 100,000 new FHA mortgages be on the way? - 04/27/10 10:58 PM
Congress contemplates "Green" Mortgages  
The House Financial Service Committee approved H.R. 2336  The GREEN Act (Green Resources for Energy Efficient Neighborhoods), by a voice vote on Earth Day, April 22, 2010.
According to the Committee, part of the legislation "directs HUD to establish a four-year, 50,000-unit demonstration program to highlight the cost effectiveness of funding a portion of the costs of meeting the enhanced HUD energy efficiency standards. In addition, the Federal Housing Authority (FHA) is encouraged to insure at least 50,000 energy efficient mortgages by December 31, 2012. As FHA begins seeking these types of mortgages, a market will emerge among … (3 comments)

fha: Do you have the right strategies to sell your home, now? - 04/06/10 03:02 PM
What you can do to help sell your Somerset home
Is your home priced realistically?   Buyers are using online tools to search information concerning your home's value. In today's market, you can't be greedy or price your home based upon what you might need to move on.  Often it will take the expertise of a Realtor to come up with a realistic asking price.  Setting an aggressive asking price will attract a greater number of prospective buyers and discourages lowball offers. What sellers don't realize is a house priced too high only helps to highlight the comparable homes in the area.  … (3 comments)

 
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Michael Adams

Franklin Township, NJ

More about me…

Keller Williams Cornerstone Realty

Address: 2230 Route 206, Belle Mead, NJ, 08503

Office Phone: (908) 359-0893

Cell Phone: (908) 583-0409

Email Me

08873 is the Postal Code for Franklin Township in Somerset County, NJ and we love living here. Hi, I'm Mike Adams and this is a Real Estate blog For and About current and future residents of Franklin Township, also known as Somerset New Jersey. I would love to help you with your central NJ real estate needs. Just contact me via phone, my websites or email. I invite your comments and please visit Somerset 08873 often. Michael Adams CENTURY21 Moretti Realty 852 Easton Ave, Somerset, NJ 08873 Business: 732.828.3700 ext.306 PLEASE CALL DIRECT: 908.377.9262 Fax: 732.828.3913 mjadams@century21.com http://www.mjAdamsSellsHomes.com


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