Shay Campbell's Blog

  What does the payroll tax cut extension and mortgages have in common?  Up until today I would have said nothing but I would have been wrong; the 112th Congress has linked the two together.  Over the weekend, the US Senate passed a two month extension of the payroll tax cut and long-term unemplo...

  You can quit holding your breath, USDA has funding.  For all of us who do USDA loans or as they are called in some parts, Rural Housing loans, we now have funding for the rest of fiscal year 2012.  Since October 1st of this year, Congress has issued two continuing resolutions that gave short te...

  Following are 5 reasons to use an FHA loan in NC.  FHA loans have been around for over 50 years.  In that time FHA has help millions of home buyers buy their first home or their tenth home.  FHA rates are very competitive with other mortgage products and they don’t take any more time to close t...

      USDA will implement a new monthly fee starting October 1, 2011.  Most people in the mortgage industry will consider this a mortgage insurance premium (MIP).  Up until now one of the unique features of a USDA home loan is it had no MIP.  This addition of MIP will mean a higher mortgage payme...

  Raleigh North Carolina has done it again.  Businessweek.com, this week, has rated Raleigh as America’s best city.  Businessweek.com was looking for a way to measure “quality of life” in America’s cities.  They came up with 16 criteria: “the number of restaurants, bars and museums per capita: th...

I have a question for North Carolina REALTORS.  Why does the home buyer lose their due diligence fee when the home appraises below the contract price? In the past year a new purchase contract was adopted by the North Carolina Real Estate Commission that included the due diligence period.  My und...

FHA has lowered the maximum loan limit in 24 North Carolina counties.  In FHA Mortgagee letter 11-29 dated August 19, 2011, FHA announced they are lowering the maximum loan limits in 24 North Carolina counties.  No counties had their limits raised. In the Triangle region of North Carolina Frankl...

My mortgage niche is the first time home buyer in North Carolina.  The first time home buyer is who I get the greatest satisfaction from and they are fun to work with.  They return calls promptly and ask a lot of questions.  All of this makes for a smooth closing with no surprises. Unless the fi...

  USDA announced yesterday that they have enough money to fund their Single Family Housing Guaranteed Loan Program through the rest of this fiscal year.  USDA fiscal year 2011 ends on September 30, 2011.  Unlike other years when USDA ran out of money and had to shut this popular program down, thi...

Currently Rural Housing loans have no monthly mortgage insurance but that will change on or after October 1st 2011.  A Rural Housing loan is a mortgage program favored by first time home buyer because of the no down payment requirement.  Rural Housing loans, or as sometimes called USDA loans, ha...