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va: Will Mortgage Insurance Still Be Tax Deductible After December 31 2010? - 11/18/09 10:15 AM
With all the rapid changes we’re seeing in the mortgage industry, those that have been instituted and many coming down the pipe, I haven’t heard anything about the tax deduction for Mortgage Insurance Premium that expires 12/31/2010. Right now, eligible taxpayers may deduct their eligible mortgage insurance premiums, including FHA upfront mortgage insurance and monthly mortgage insurance premium, USDA guarantee fee, and VA funding fee as well as the private mortgage insurance premiums required on conventional Fannie Mae|Freddie Mac vs. government loans.
Although these mortgage insurance premiums are not nearly as much as the mortgage interest taxpayers deduct, they can … (6 comments)
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va: First Time Buyers In Medford Oregon Have MULTIPLE Options! - 09/10/09 02:32 PM
It isn’t often in life that we get multiple choices available to assist us on our journey, especially on the journey to homeownership, but eligible First Time Home Buyers in Medford Oregon have MULTIPLE CHOICES! Whether it is up to $50,000 for the Medford Neighborhood Stabilization Program for home buyers making up to 120% of the area median household income purchasing eligible foreclosure properties, or up to $15,000 for the City of Medford First Time Buyer program that gives eligible first time home buyers earning up to 80% of the area median household income purchasing a home in the city limits … (2 comments)
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va: TO Be Or Not To Be....Neighborhood Stabilization Program Funding Available? That Is The Question - 06/18/09 09:12 PM
Here in this beautiful area of Southern Oregon where the Rogue Valley lays, surroundedby the serene beauty of the Siskiyou and Cascade mountain ranges, lakes, rivers and streams abounding, filled with fabulous family activities for her residents and visitors to enjoy, I find myself wondering if I just may have a bit of extra time to enjoy the wonderful place I live. It's summertime, temperatures are on the rise, there are SO MANY outdoor living opportunities available here, and I just might get out there and enjoy some of them.
Headed in to June, armed with some amazingly low interest rates … (1 comments)
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va: Hmmm... VA (State or Federal) or USDA Guaranteed Rural Housing to Buy Your Home? - 06/12/09 06:41 PM
Honored to have the opportunity to serve several veterans this week, grateful for the opportunity to help them now in return for their service and sacrifice for our country, I had the opportunity to show the comparisions between some fabulous government loan programs.
Using one's VA benefit to purchase a home can be a great tool! Here are some of the highlights of these programs, and how we may use them to purchase a home in our Southern Oregon real estate markets.
Federal VA programs - With no down payment required, this is a great tool for eligible veterans wanting to use their benefit … (2 comments)
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va: Southern Oregon First Time Home Buyers and the $8000 Tax Credit - 06/10/09 04:03 PM
Back and forth, back and forth goes HUD and the negotiations with participating FHA lenders on the monetization of the $8,000 tax credit approved in 2009. The latest (May 29th) word is that the FHA guidelines have been changed in order to make these funds available at closing to first time home buyers eligible for this tax credit. The good news is up to $8,000 WILL be made available by participating FHA lenders to eligible first time home buyers to use these funds to help pay for their closing costs/prepaid expenses. The bad news is it may not be used to … (2 comments)
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va: Note To President Obama/Senate Banking Committee – It appears Not Everyone Is Onboard With The Home Affordable Programs - 05/08/09 05:15 PM
Here it is a month after the Home Affordable Programs got up and running. Well, more like a week, since many lenders did not come out with the pricing on the Fannie Mae DU Refi Plus until within the past couple of weeks, and only a few are coming out with the Freddie Mac Relief Refinance pricing.
Here are some discoveries/experiences I've encountered.
On Home Affordable Refinance:
Private Mortgage Insurance Companiesare restricting the transfer of their mortgage insurance policies to the existing lender/servicer only, eliminating the homeowners' opportunity to shop for their pricing and eliminating competition.
Banks/Mortgage companies holding … (6 comments)
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va: Calling All Southern Oregon First Time Homebuyers: ABCs of Homebuying Course Sat Apr 18th at Medford RCC - 04/13/09 05:24 PM
It's that time again, time for the HUD approved ABC's of Homebuying course that Southern Oregon Housing Resource Center and Rogue Community College put on for first time home buyers seeking the knowledge and preparation, and for some, to meet the required program certification for many first time home buyer down payment assistance programs, getting ready to buy their first home.
If you haven't registered already, you may do so online through RCC, or call ACCESS/Southern Oregon Housing Resource at (541)779-6691
Presented by ACCESS Inc.
AND THE SOUTHERN OREGON HOUSING RESOURCE CENTER
April 18, 2009 at RCC … (0 comments)
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va: Effective Today Fannie Mae's Declining Markets Reinstated Guideline Takes Effect - 01/15/08 01:48 PM
Well, today is the day. Loan Applications dated January 15, 2008 or later may be subject to this reinstated regulation. Freddie Mac, VA and HUD have all posted similar notifications, making Fannie Mae the last one to the table on this issue. I'm finding that with a such a wide-based and undefined criteria, not all lenders are treating the regulation the same. Most lenders are ignoring Fannie Mae's recommendation that since real estate markets are local markets, and properties in one neighborhood may have stable values, while those in other neighborhoods may not. Fannie Mae Notice 07-22 states that if an appraiser stipulates on their … (9 comments)
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va: First Time Home Buyer Resources (Part 4– Temporary Subsidy Buydown) - 01/07/08 02:12 PM
Temporary subsidy buydown plans are a way to help homebuyers qualify with the mortgage payment lowered initially, by the interest being "bought down" or prepaid by the homebuyer or the seller. When a homebuyer opts for a buydown plan, they will get lower, more affordable mortgage payments with the stability of predictable payment increases over time.
Most homebuyers choose one of two temporary buydown plans, a Limited or an Extended buydown plan. The Extended plan allows the borrower to qualify at the initial (bought down) interest rate that can be up to 1.5 percentage points lower than the note rate. This rate is then … (0 comments)
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Karen Pierce Cooper
Medford,
OR
More about me…
Karen Pierce Cooper| Housing Counselor |Oregon
Address: PO Box 4126, NMLS#223305 , Medford, OR, 97501
Office Phone: (541) 779-6691
Email Me
Bringing 28 years of experience providing Southern Oregon and California Home Buyers and Homeowners | Serving all of Jackson County Oregon including Ashland- Talent- Phoenix- Medford-Jacksonville- Ruch- Central Point- White City- Eagle Point- Shady Cove- Gold Hill, as well as Josephine County including Grants Pass- Merlin- Wilderville | Helping Southern Oregonians on the road to fulfilling the American Dream of Homeownership - and staying there! ,
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