Real World Mortgage Solutions

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Mortgage and Lending - Team Move OVM Financial - NMLS # 78989
The goal of my blog is to give you real world mortgage solutions to actual mortgage scenarios I see everyday.
The Commerce Department reported on Wednesday that December New Home Sales surged 10.8 percent from November to an annual rate of 544,000 units, above the 506,000 expected. It was the third consecutive monthly gain and the third best annual gain since 2008. Sales rose 14.5 percent in 2015 to 501,...
The S&P/Case Shiller 20-city Home Price Index rose 5.8 percent year-over-year due to continued low mortgage rates, tight supplies and an improving labor market. On a monthly basis, prices were up 0.9 percent from October, the fastest monthly gain since March. In addition, 14 cities put up better ...
December Existing Home Sales Surge!The National Association of REALTORS® reported on Friday that December Existing Home Sales surged nearly 15 percent from November to an annual rate of 5.46 million units. This was well above the 5.12 million expected. The big gains could be due to delayed closin...
Why did so many buyers move to North Carolina in 2015?North Carolina consistently ranks very high in the annual United Van Lines Movers Study and in this article we share the reasons why so many buyers moved to NC in 2015.Guess what?  The population continues to move away from the cold of the nor...
Why did so many buyers move to South Carolina in 2015?South Carolina consistently ranks very high in the annual United Van Lines Movers Study and in this article we share the reason why so many buyers moved to SC in 2015.Everyone knows South Carolina for the beaches, so why wouldn’t people want t...
 Picture this scenario:  A happy couple or individual has never purchased a home but would love to be homeowners in the future, BUT…*  There is not a lot of credit report experience or there are credit issues*  Has no money in reserves or for down payment*  Doesn’t have a budget in order to affor...
Is PMI Still a Tax Deduction?We continue to hear threats of axing the mortgage interest and PMI tax deduction but there has been a decision for 2015 & 2016.  Low to Middle level taxpayers take their tax deductions seriously and want everything possible that will lower their tax burden or better y...
When the Fed speaks, the mortgage world braces themselves.  But this time the result was ok – so far!Mortgage rates, so far, have barely moved from where they were prior to the Fed rate increase.  Normally, mortgage interest rates rise when the Fed increases their federal funds interest rate but ...
The Commerce Department reported on Wednesday that Housing Starts in November rose 10.5 percent from October to an annualized rate of 1.173 million units; this was above the 1.135 million expected. The big jump in November nearly erases the 12 percent decline from September to October. Single-fam...
Check out this success story!  A little known tip which licensed Real Estate Agents can take advantage of is using their commission as down payment for the purchase of their own home.We just had a closing on new construction for a buyer using near the loan size limit for an FHA loan (County limit...

Russell Smith

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