30 in 30 Is Complete and Still Posting!!!! - 09/30/10 08:48 AM
The 30 in 30 challenge was definitely quite a challenge.  Trying to post at least once every single day does take a huge time commitment.  I did learn quite a bit during it though.  I started out by deciding to do a daily Market Update post.  Since I read market updates every day, I thought this would be something I could realistically take on.  For it, I read some of the email alerts that I receive every morning.  I would then go through and pick out some facts and statistics to share.  To make it more local, I added some Atlanta … (5 comments)

9 to 5: The Musical Hits Atlanta's Fox Theatre Sept 28th - Oct 3rd - 09/29/10 07:16 PM
The Tony Award nominated show, 9 to 5: The Musical, hits Atlanta this week after its very well received tour launch in Nashville last week.  As the second stop of the National Tour, the show opened last night at the Fox Theatre.  Performances will continue until this Sunday. 
This brand new musical is based on the 1980 smash movie of the same name.  It was the 4th highest grossing film of that year.  The musical features music and lyrics by Dolly Parton with the book by Patricia Resnick.  The movie was also the basis for Parton's #1 single "9 to 5" which topped Billboard's … (2 comments)

FHA Financing Mortgage Program Overview/Updates - 09/28/10 12:07 PM
 
FHA Program Basics
Separate the Fact From the Fiction - The Real Story on FHA Seller Concession Limitations
FHA Minimum Down Payment Increases to 3.5% on Jan 1st
 


FHA Guideline FAQ - Appraisals (Also see Property Conditions)
FHA Appraisal Transfer Changes Effective January 1, 2010
FHA Appraisal Validity Period Change Effective January 1, 2010
 


FHA Guideline FAQ - Assets/Bank Accounts/GiftsSelf-Employed???? Acceptable Use of Business Funds for Closing
 



FHA Guideline FAQ - Condominiums
Getting a Gift for Closing Funds??? - Know the FHA Rules

10 Questions You and Your Buyers Must … (0 comments)

Conventional Financing Mortgage Program Overview/Updates - 09/28/10 12:03 PM

Program Basics
HomePath Financing Mortgage Program Overview/Updates Conventional Loan Limits to Remain Unchanged in 2011
Conventional Guideline FAQ - Assets
Self-Employed???? Acceptable Use of Business Funds for Closing
Conventional Guideline FAQ - Credit
Do You Need a New Credit Report Before Closing??? - Fannie Mae Clarifies Its PositionFannie Mae Updates Policy for Borrowers With a Previous BankruptcyFannie Mae's Latest Guidance for Foreclosures, Bankruptcies, & Short Sales

Conventional Guideline FAQ - IncomeBusiness Expense Deductions vs Qualifying for a Mortgage Minimum Time of Employment - Fannie Mae Conventional GuidelinesConventional Guideline FAQ - MiscellaneousMultiple Mortgages for the Same Borrower - Fannie Mae … (1 comments)

HomePath Financing Mortgage Program Overview/Updates - 09/28/10 11:06 AM
HomePath® Financing Highlights
 
This special financing is available exclusively on Fannie Mae homes with the HomePath logo
Search for Fannie Mae REO's at http://reosearch.fanniemae.com/reosearch/.

Program Basics
HomePath Financing for Fannie Mae REO'sHomePath Financing - Buy a Home in Georgia With Only 3% DownGeorgia Investors Can Purchase With as Little as 10% DownBuy an Alabama Second / Vacation With as Little as 10% Down. Conventional Guideline FAQ - AssetsSelf-Employed???? Acceptable Use of Business Funds for Closing
Conventional Guideline FAQ - Credit
Do You Need a New Credit Report Before Closing??? - Fannie Mae Clarifies Its PositionFannie Mae Updates Policy for … (1 comments)

Georgia Dream Down Payment Assistance Program Overview/Updates - 09/27/10 08:03 PM
Georgia Dream First Mortgage Loan Financing
30 Year Fixed Rate Mortgage Conventional, FHA, USDA-RD, or VA programs available Up to 100% financing (Additional household income restrictions apply)
Georgia Dream Second Mortgage Loan Financing
Down payment funds are provided as a Second Mortgage Loan for the purpose of principal reduction and the payment of pre-paid items and closing costs and is made in conjunction with a Georgia Dream First Mortgage Loan.
No Monthly Payments No Interest Loan must be repaid when home is sold or refinanced or no longer used as the borrowers personal residence as this loan is never forgiven. … (2 comments)

Atlanta, GA Market Update - September 27, 2010 - 09/27/10 05:56 PM
Mortgage Bonds opened improved on Monday morning.  There were no economic reports scheduled for release today. 
This afternoon, we had a $36 Billion auction of 3 Year notes.  The results were announced at 1:00 pm EST.  Tomorrow, there will be a $35 Billion auction of 5 Year notes.  Wednesday will see $29 Billion of 7 Year notes being auctioned off. 
The rest of the week will be quite busy. 
The big news story for Atlanta this morning was the announcement that Southwest Airlines would be buying AirTran Airways.  The deal is reported to be valued at $1.4 Billion.  While based on Orlando, FL, … (1 comments)

FHA 203K HUD Consultant Fee Schedule - 09/26/10 09:20 PM
The FHA 203K Consultant Renovation loan requires the use of a HUD Approved Consultant.  HUD has a preset schedule of fees that are to be charged to the borrower. 

For 2-4 unit properties, there will be an additional fee of $25/unit.  HUD does allow for mileage charges when the properties is located outside of the Consultant's area. 
Search For A HUD Approved Consultant
The FHA 203K Streamline Renovation loan does not require the use of a HUD Approved Consultant.
 

… (7 comments)

Fannie Mae's Latest Guidance for Foreclosures, Bankruptcies, & Short Sales - 09/25/10 12:54 PM
Fannie Mae has updated its polices regarding new financing for borrowers with a previous bankruptcy, foreclosure, or short sale.  The waiting period ranges from 2 years from the discharge date of a Chapter 13 Bankruptcy to 7 years from the date of a Foreclosure.

 
 
 
 
All borrowers will now be required to meet the minimum waiting period after the derogatory event in order to be eligible for a new conventional mortgage loan backed by Fannie Mae. 
 
 
 
… (1 comments)

Atlanta, GA Market Update - September 24, 2010 - 09/25/10 11:08 AM
Market volatility continues on Friday morning as the Mortgage Bond market opened down from Thursday's close.  This comes after a strong Durable Orders report for August.  August saw overall durable goods orders fall 1.3%. Excluding transportation, the orders increased 2.0%.  This is much stronger than the analysts expectations of a 0.6% increase. 
New home sales came in at near expectations for August.  They were virtually unchanged from July with an annualized rate of 288,000.  
On Friday, the Georgia Department of Banking and Finance revoked the mortgage license of United Funding Mortgage.  The company operated in Alpharetta as Vertical Mortgage Company.  The department stated … (0 comments)

Yes Mr/Miss/Mrs Agent, I May Need Your Social Security Number, Driver's License, Etc - 09/24/10 11:44 AM
Yes Mr/Miss/Mrs Agent, I may need your Social Security number, driver's license, etc so that your buyer/seller can close.   This topic was brought up in a post yesterday by Donna Harris The Lender Wants MY Social Security Number... What Do I Have to Do With My Buyer's Loan?.  There were many comments about this topic.  Most all blamed the lender, suggested contacting attorneys, etc.  Basically, everything except for acknowledging it as an actual and valid requirement that must be fulfilled.  No, it's not a lender being ridiculous. No, it's not a lender who doesn't know what they are doing. No, … (26 comments)

Atlanta, GA Market Update - September 23, 2010 - 09/23/10 11:48 AM
Mortgage Bonds could not maintain their momentum from the last few days as economic news has been mixed.  After peaking mid-afternoon yesterday, they slipped some prior to the market close.  That carried through to today. 
The initial Claims report came in higher than expected. They rose 12,000 to a seasonally adjusted 465,000 for the week ending September 18.  Analysts has anticipated no change from the previous week.  For metro Atlanta, the unemployment rate rose to 10.4 in August.  This is up from 10.1 in July.   
Existing Home sales came in slightly better than expected.  This has caused money to flow … (0 comments)

Before You Get Too Excited, No HUD Has NOT Lowered FHA Credit Score Requirements - 09/23/10 09:54 AM

 
 
Before you get too excited, no HUD has NOT lowered the credit score requirements for FHA loans.  I have seen several posts written over the last few weeks about the new credit score requirements that go into effect on October 4, 2010.  This is true.  However, the facts are not clearly stated.While I may have missed it, I have yet to see one post that informs reader that, prior to this announcement, HUD has NEVER had a MINIMUM credit score requirement for FHA loans.  Yes, you heard that correctly.  Since HUD created the FHA program in the National … (6 comments)

Atlanta, GA Market Update - September 22, 2010 - 09/22/10 05:02 PM
Wednesday morning saw Mortgage Bonds open trading higher. This follows the gains from Tuesday afternoon's post Fed rally.  During the announcement, the Fed stated that it is “prepared to provide additional accommodation if needed to support economic recovery and to return inflation, over time, to levels consistent with its mandate.” It also kept its "extended period" language in place. 
The Fed's statement has led to a rally in the Mortgage Bond market.   There is now speculation that the Fed may be buying more Treasuries on a larger scale. This would be done in a effort to stimulate the markets.
… (0 comments)

Fannie Mae Updates Policy for Borrowers With a Previous Bankruptcy - 09/21/10 10:12 PM

 
Fannie Mae has updated its polices regarding new financing for borrowers with a previous bankruptcy.  The waiting period now ranges from 2 years from the discharge date of a Chapter 13 Bankruptcy to 5 years from the discharge or dismissal date for someone with multiple bankruptcy filings.
 
 
 
… (3 comments)

Atlanta, GA Market Update - September 21, 2010 - 09/21/10 12:09 PM
After Mortgage Bonds rallied yesterday afternoon, the gains continued this morning.  This is ahead of the Federal Open Market Committee rate policy decision.   It is set to be released at 2:15 pm EST.  Analysts anticipate both rates to remain unchanged. 
It was reported that housing starts rose 10.5% in August.  Last month, housing starts increased to an annual rate of 598,000.  This is up from a revised 541,000 and beat the expectations of 550,000.  Its also the best increase in four months. 
Building permits increased 1.8%.  This number was also beat analyst's expectations.  It follows a 4.1% unrevised drop in July. 
Mortgage rates are … (0 comments)

Atlanta, GA Market Update - September 20, 2010 - 09/20/10 11:34 AM
The Mortgage Bond market opened this morning relatively unchanged from Friday's close.  Since there are no economic reports scheduled for release today, Mortgage Bonds will take direction from the Stock Market. 
The Wall Street Journal reports that IBM has announced it intent to buy software company Netezza for $1.7 Billion.  With the S&P 500 currently trading higher, this could place additional pressure on pushing mortgage rates higher. 
This morning, there was a weaker than expected outlook on home builder conditionsreport.    September saw the National Association of Home Builders/Wells Fargo housing market index unchanged at 13.  Analysts are predicted a 14.  A measure of <50 indicates … (0 comments)

Midtown Atlanta Makeover Continues - 09/20/10 09:48 AM
Midtown Atlanta is undergoing a makeover.  These are all going to be very welcomed changes.  The new traffic light at 6th and Peachtree is going to be especially helped.  For whatever reason, 6th St was one of the few cross streets of Peachtree that only has a crosswalk. 
 
Via Thomas Ramon Realty Midtown Atlanta Real Estate:
Midtown Atlanta Makeover Continues Improvements to Midtown Atlanta just keep on coming! As you'll recall, I posted a couple weeks back that some Midtown Atlanta Streets were getting a makeover. Crescent Street certainly was in need of some sprucing! But it seems that is not all … (1 comments)

Do You Know Who Is Responsible for Setting Mortgage Underwriting Guidelines??? - 09/19/10 10:28 PM
What is the Secondary Market you ask? In mortgages, the Secondary Market is where bonds and securities are backed by the value of mortgage loans, collateralized and then they are sold on Wall St.  These security instruments are also known as Mortgage Backed Securities (MBS).  Being packaged as an MBS is how mortgage loans are bought and sold after the borrowers have closed on their transaction.  All mortgage loans are underwritten by the lender to predetermined underwriting guidelines.  Therefore, each mortgage loan program has its own unique set of underwriting guidelines.  This loan programs include:
Conventional (Fannie Mae & Freddie … (3 comments)

Buyer's Agents, Are You Tired of Unresponsive REO Listing Agents??? - 09/18/10 04:11 PM
Buyer's Agents, are you tired of REO Listing Agents not returning your phone calls and e-mails?????  If you are, then do you part to help out.  Learn more about REO's. 
REO Listing Agents get tons of phone calls on their listings.  In the first few days of a property being listed for sale or the days immediately after a price reduction, activity on the property is typically at its peak.  Just like you and I, they only have xxxx number of hours in the day.  Often times, they get more phone calls and emails that can realistically be responded to.  … (7 comments)

Select Atlanta Area Museums to Offer FREE Admission on September 25 - 09/18/10 02:03 PM
Museum goers can visit select Atlanta area museums for FREE on Saturday, September 25th.  Ten Atlanta area museums will be participating in the Sixth Annual Smithsonian Museum Day.  
These metro Atlanta museums will duplicate the Smithsonian Institution’s free admission special for that day.  Next Saturday, select museums across the country will open their doors free of charge.  Visitors must download the Museum Day Ticket from www.smithsonian.com.
Museum visitors must present the official pass the gain free admission.   Each pass has a limit of two people, per email address and is only valid at participating museums and cultural venues. … (0 comments)

Atlanta, GA Market Update - September 17, 2010 - 09/17/10 09:35 PM
Mortgage Bonds opened in positive territory this morning.  This comes after the Labor Department announced that the Consumer Price Index (CPI) came in near expectations with an increase of 0.3%.  July experienced a similar increase.  The CPI is gauge used to measure inflation. Excluding volatile food and energy prices, the core rate was unchanged.  This is slightly lower than the increase of 0.1% that economists had predicted.  This reading helped to reinforce the Fed' claim that inflation remains under control. 
 
The University of Michigan consumer sentiment index declined to 66.6 in September.  This reading is down from 68.9 in August.  It is also worse … (0 comments)

Atlanta, GA Market Update - September 16, 2010 - 09/16/10 08:33 PM
Once again, Mortgage Bonds opened lower this morning.  This comes after a rough afternoon of trading yesterday which results in a worsening of mortgage rates late in the day.  Today's economic news is mixed bag. 
The Initial Claims were lower than expectations.  The inflation at the wholesale level in the form of the Producer price Index was slightly better than anticipated.  In the week ending September 11, jobless claims fell from 453,000 to 450,00.  This beat the expectations of 460,000.  
For the second month in a row, the Philadelphia Fed Index of manufacturing came in negative.  It did … (0 comments)

Atlanta, GA Market Update - September 15, 2010 - 09/16/10 12:33 PM
Mortgage Bonds opened lower on Wednesday morning.  This comes after less than stellar manufacturing data was released.  New York 's Empire Manufacturing Index dropped to 4.1 in September.  This is down significantly from the August's 7.1 reading.  Analysts has only predicted a decline of 6.4.   
August saw industrial production rose slightly to 0.2%.  This is 0.1% less than the 0.3% reading that was anticipated.  July's number was a revised 0.6%. 
Mortgage Bonds continue to be pressure by the Stock market. 
 
 
… (0 comments)

Freddie Mac Adds First Look Initiative to It's HomeSteps REO Properties - 09/15/10 01:19 PM
The Freddie Mac First Look Initiative now gives home buyers 15 days of exclusive access to buy a HomeSteps property as their primary residence.  Freddie Mac announced today that it is expanding the Freddie Mac First Look Initiative on its HomeSteps listings.  The First Look Initiative goes into effect on September 17, 2010.  According to Chris Bowden, Vice President, HomeSteps,  "Expanding the Freddie Mac First Look Initiative emphasizes Freddie Mac's commitment to manage its REO inventory to help stabilize communities, foster affordable homeownership opportunities, and responsibly safeguard tax dollars." What is HomeSteps? HomeSteps is the national real estate sales unit of … (4 comments)

Atlanta, GA Market Update - September 14, 2010 - 09/14/10 12:33 PM
The momentum gained from yesterday's rally also carries through to today.  Treasuries and mortgage bonds once again opened to high levels.  This rally comes as economic growth is still of concern. 
Economic data this morning revealed better than expected results.  Retails sales increased .04% in August.  This follows a downwardly revised 0.3% increase in July.  It is also slightly better than the previously forecasted 0.3% increase.  It is the highest reading in the last five months. Since the August 2009 reading was higher, this shows that the economy has slowed.
July saw business inventories increase by 1%.  This is up 0.3% over the … (4 comments)

Atlanta, GA Market Update - September 13, 2010 - 09/13/10 02:12 PM

Following a tough week for Mortgage Bonds last week, they have regained some lost ground today.  This is all while the stocks are trading higher.  This also comes after the European Commission increased their outlook for this year's growth from 0.9% to 1.7%.
Also calming fears, the Basel Committee increased it's capital standards from 2% to 4.5%.  Banks have been given until 2015 to reach the new standards. Domestically, there is little market news today. 
 
 
Tomorrow, we will see Retail saels numbers released.  Industrial Production & Capacity Utilization will be released on Wednesday.  With little new economic news today, … (0 comments)

Tyler Perry Auctions Contents of Atlanta Home - 09/12/10 07:12 PM
On September 12, 2010, Tyler Perry is set to auction off the contents of one of his recent real estate purchases.  Perry is the newest owner of Dean Gardens, the 58-acre estate located on Old Alabama Rd in Johns Creek.
The $7.6 million sale was completed in late July, although Perry was not identified as the buyer until a few weeks later.  The current home took over 4 years to build and has been on and off of the market for the last 15 years.  Reports are that the current 32,000 square foot home will be torn down for Perry … (0 comments)

Atlanta Population Increased 29% in Last 9 Years - 09/11/10 10:51 PM
According to revised population figures released yesterday by the US Census Bureau, Atlanta had the 8th largest population increase in the country.  This ranking is for communities who added at least 100,000 residents during the 9 year period of 2000-2009.  
The city of Atlanta added 122,009 residents.  This is a 29.% increase which brings the city a population of 540,922.  Atlanta now ranks as 33rd among 19,507 cities.   Metropolitan Atlanta population numbers place the area in the top 10 for the country.  
 
Selected Georgia Cities Adding Residents:
City                            Population (2009)   Increase       Percentage
Newnan                               31,587          15,311          94.07%
Canton                                23,073          … (7 comments)

Atlanta, GA Market Update - September 10, 2010 - 09/10/10 09:32 PM

Once again, economic optimism has driven stocks higher this morning.  This rally comes after the Wholesale Inventories report improves the most in two years. 
According to the Commerce Department, wholesale inventories jumped 1.6% in July.  This is much better than the 0.4% increase that had been expected.  Treasuries and mortgage bonds are once again suffering for the sixth out of the last seen trading days.  
St. Louis Federal Reserve Bank President, James "Raging" Bullard stated that he sees a slowdown in the economy for the second half of this year.  He does though predict a pickup in 2011. He added that the … (0 comments)

Atlanta, GA Market Update - September 9, 2010 - 09/09/10 11:37 AM
Mortgage bonds are once again under pressure this morning.  This time, it is due to a better than expected Initial Jobless Claims report.  For the week ending September 4, the initial jobless claims fell to 451,000.  This is down 27,000 from 478,000.  The reading is also considerably lower than the 470,000 that economists had previously predicted. 
A report showing a narrower than expected trade deficit has also led to the sell-off.  This economic news has the stock market up today.  At 1:00 pm EST today, the Treasure will sell $13 billion in 30 Yr Bonds. 


… (1 comments)

Atlanta, GA Market Update - September 8, 2010 - 09/08/10 02:21 PM


Volatility in the market continues throughout today.  The market opened with stocks moving higher while mortgage bonds gave back most of the gains from yesterday afternoon.  This comes after a successful debt offering in Portugal which has help calm some of the fear surrounding the European debt issues.
There were no economic reports released today. 
At 1:00 pm EST, there will be an auction for a $21 billion 1-Yr Note offering.  An hour later, at 2:00 pm EST, the Federal Reserve will release its Beige Book.  This will offer more details on economic conditions as complied by the 12 regional district of the … (4 comments)

Atlanta, GA Market Update - September 7, 2010 - 09/07/10 09:17 PM
After last week losses, mortgage bonds got off to a good start this morning.  There is renewed concern regarding the European debt crisis.  Yesterday, the Federal Association of German Banks said that after the recent stress tests, the country's 10 biggest banks might need as much as 105 billion euros in capital to meet new standards. 
All of this has led to an improvement in mortgage rates today.
This will be a light week when it comes to reports.  There will be several Treasury auctions this week.  This includes one at 1 pm today for $33B in 3 -Year T Notes.  Tomorrow, … (2 comments)

Atlanta, GA Market Update - Week Ahead - 09/06/10 11:20 PM
With Monday being Labor Day, there will be a short work week ahead.  There will be very few financial reports released.
Wednesday - 10:30 am - Crude Inventories
Wednesday - 2:00 pm - Beige Book
Thursday - 8:30 am - Jobless Claims (Initial)
Thursday - 8:30 am - Balance of Trade
 
Mortgage rates did suffer last week.  With a light week ahead for reports, mortgage bonds will take direction from the stock market.
 
… (0 comments)

The Launch of Publix Curbside Service - Toco Hills - 09/06/10 12:52 AM
Publix announces the launching of its new Publix Curbside service.   This service debuts at the Toco Hills location in Atlanta, GA.  Publix Curbside will also be launching in Tampa, FL soon. "How does it work? Just click on your location below to shop online at your convenience. Our easy-to-use site lets you select products from that store—and even honors sales prices and special deals offered in our weekly ad. Like your Deli meat, produce, or other items a certain way? Make a note! Our specially trained Curbside associates will put your entire order together, taking care to do just as … (1 comments)

HUD Announces Changes to FHA Mortgage Insurance Premiums - Effective October 4, 2010 - 09/05/10 07:48 PM

 
 
 
On September 1, 2010, HUD announced that it will adjust its FHA Mortgage Insurance Premium effective October 4, 2010.  These changes are outlined in Mortgagee Letter 2010-28
 
 
 
Effective for all case numbers ordered on or after October 4, 2010:
 
Up front MI will decrease from 2.25% down to 1%.  
Monthly MI will increase from .55% to .90% annually for LTV's > 95%.  
Monthly MI will increase from .50% to .85% for LTV's < = 95%. This change will increase the borrower's total monthly mortgage expense.  The total loan amount, however, … (0 comments)

For the Best Cupcakes in Savannah, Visit Mabel Francis Potter's Cupcake Emporium - 09/04/10 06:58 PM
The next time you are in Historic Downtown Savannah, be sure to visit Mabel Francis Potter's Cupcake Emporium.  There, you can find a variety of cupcakes, cookies, and other treasures.  Located in the heart of the Downtown Historic District, they are on E State St near the corner of Bull St.  You can find 12 different varieties of cupcakes baked fresh each day.  With over 50 varieties in all, narrowing those down to only 12 each day can be their biggest challenge.  Your biggest challenge will be deciding which ones to try.  Cupcakes
Chocolate Vanilla Strawberry Lemon Red Velvet The … (2 comments)

Atlanta, GA Market Update - September 3, 2010 - 09/03/10 11:17 AM
Friday morning saw the release of the Jobs Report.  In August, 54,000 jobs were reported lost.  This is far better than the consensus estimates of 120,000.  This includes the elimination of about 114,000 temporary census workers.  For the private sector, this mean that around 67,000 new jobs were created.  That number is much better then the 44,000 that was expected.
The Unemployment Rate did increase slightly to 9.6%.  This was in line with expectations. 
Number two fast food giant Burger King announced yesterday that it is being acquired by 3G Capital.  The cost of the acquisition is a report $3.26 billion.  Burger King currently hasmore … (0 comments)

Atlanta, GA Market Update - September 2, 2010 - 09/02/10 12:25 PM
Thursday continues to be another bad day for mortgage bonds and mortgage interest rates.  The Initial Jobs Claims report was released this morning.  Claims fell by 6,000 to 472,000.  This is slightly better than the expected 475,000. 
This has given some optimism heading into tomorrow's Nonfarm payrolls.  Expectations are for Nonfarm payrolls to show a loss of approximately 100,000 to 120,000 jobs. 
There was an unexpected increased in Pending Home Sales for July.  There was a 5.2% month over month increase.  Little change was forecasted. 
All of this positive data has treasuries and mortgages declining this morning.  This in turn, leads to … (1 comments)

A FAKE MORTGAGE COMPANY - 09/01/10 09:09 PM
Thanks to Dee for this one.  Take a look at the FDIC's latest attempt to educate consumers about potential mortgage scams.  If it sounds too good to be true, then it usually is.
 
 
 
 
Via 'Dee' Mayers : License #01461870 San Gabriel Valley, CA REALTOR® (First Citywide Realty):
Have you heard about this?  Esteemed Lending Services is a fictitious company on the internet there to educate people about scams. 
It is the brain child of the Federal Trade Commission. There tag line is "A loan for every situation. Guaranteed".  The site promises loans and interest rates best suited to you, … (2 comments)

What Information Do I Need for an Existing FHA Condo (DELRAP) Approval???? - 09/01/10 04:28 PM
What Information Do I Need for an Existing FHA Condo (DELRAP) Approval????
If you are interested in an existing condo and you will be using FHA financing, the project must be FHA approved.  To find out if a condo has been FHA approved, you can visit the Condominium Page on the HUD website.  There are a variety of ways to search to a project. 
Should you not see your community on the list, Prospect Mortgage is an approved DELRAP lender.  HUD only grants DELRAP authority to direct lenders that it has deemed to have significant condo project approval experience.  At … (3 comments)

IT’S A HOME, NOT A PIECE OF STOCK! - 09/01/10 01:55 PM
CURRENT homeowners listen up too. 
I think that many people have lost sight of the "HOME" concept.  How many people truly want to live and raise a family in an apartment?  Do you?  I bet that answer is no.  A house is a home first and an investment second.  Of course, when making a purchase, one should always consider all of the factors. A home gives you some stability that an apartment cannot.
 
Via Donne Knudsen, NMLS#249822, DRE#01364050 (Cobalt Financial Corp.):
ATTENTION FUTURE HOMEOWNERS:  If you are currently looking to purchase a primary residence to live in for awhile, please keep in mind, you're buying … (1 comments)

Atlanta, GA Market Update - September 1, 2010 - 09/01/10 01:11 PM

After enjoying a rally yesterday, treasuries and mortgages experienced a decline this morning giving back most of their gains.  This is pushing mortgage interest rates slightly higher today.  The decline comes after a strong Institute of Supply Management (ISM) manufacturing Index.  The ISM Index rose from 55.5 in July to 56.3 in August.  This more than beat expectations of a speculated drop to 52.9. 
Adding to the ISM result is the rally being reported in the stock markets of Asia and Europe.  Those stocks began to climb with the announcement of that the China Federation of Logistics and Purchasing managers index climbed to … (0 comments)

 

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