mortgage: Could Dumbo the elephant get a JUMBO loan today? - 04/19/09 06:33 PM
For the last half of 2007 and all of 2008 the hardest to sell market in the Puget Sound area was homes that were in the roughly $650,000 to $1.5M range. Why? Because most of those properties required JUMBO loans for the buyers to secure the purchase and this was the … (0 comments)
mortgage: Got a low credit score and want to buy a house or condo? FHA may be your answer... - 03/21/09 03:14 PM
I've run across several people lately who would like to buy a home but who also tell me they are struggling with credit score issues and down payment funds. For these folks it might make sense to look into FHA financing, which has lower thresholds than conventional financing products right now for … (1 comments)
mortgage: Your house will be worth more when pigs fly... - 03/10/09 06:02 PM
There are many jobs that are ancillary to the real estate world and one of them is being an appraiser. When a house is sold, if there will be a loan against the property an appraiser is typically called out to determine if the sale value can be supported and that … (10 comments)
mortgage: Sellers get some additional time for tax relief on debt forgiven on short sales of homes - 02/23/09 12:51 PM
Congress has amended The Mortgage Debt Relief Act of 2007 to The Mortgage Forgiveness Debt Relief Act and Debt Cancellation. The amended act contains expanded coverage and an extended deadline from 2009 to 2012.
http://www.irs.gov/individuals/article/0,,id=179414,00.html
The MFDRA does not cover properties that are considered vacation homes or investments. Homeowners need to … (1 comments)
mortgage: Can you ID what went wrong in this condo sale? - 02/21/09 01:23 PM
In the Feb 20th Seattle Times edition there is a story about 6 immigrants that are suing because of what they believe to be bad behavior on the part of the preferred lender and the developer of a Bellevue condo project. Just reading the headline "$1.5M condo on $20K income? Prospective … (1 comments)
mortgage: What to do with a crash down shack? - 11/18/08 11:28 PM
A very good friend of mine has a name for what most of us would call a "tear down". He calls it a crash down shack. Recently, a colleague of mine referred a new client to me to handle what he said would be a residential transaction in Seattle - normally this … (3 comments)
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