Real estate blog entries tagged with minnesota mortgage by Sherri Sherpy (Mortgage & Investment Consultants)

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minnesota mortgage: Turn Your Current Home Into a Rental and Buy New? MAYBE NOT ANYMORE! - 08/07/08 09:49 AM

Remember the good ole days when a buyer could EASILY turn their current residence into a rental and buy a new home? Well, those days are over. Our lives and our buyers lives just got a little tougher.
There are new guideline changes that became effective Aug 1st that we should all … (0 comments)

minnesota mortgage: Is Your City in a "Declining Market"? Part 4...Is It Over? And What's Saavy Got to Do With It? - 05/30/08 05:00 PM

Recently, Fannie Mae lifted it's Declining Market Policy (word that Freddie is soon to follow). This new update is effective June 1, 2008 for all new underwriting submissions. Yipee! Yahoo! No more declining market hurdles to deal with!
In it's announcement, Fannie Mae will no longer require lenders to make a downward … (4 comments)

minnesota mortgage: Don't Make Me Say, "I Told You So!" - 02/26/08 02:02 PM

My goodness...yet another trip down the Freddie/Fannie lane...
Why is it so important to contact your database of clients TODAY? Because there are changes coming down...BIG changes and this one is a WHOPPER.
I cannot stress enough to get your 100% buyers to the closing table as soon as possible. With these changes, … (5 comments)

minnesota mortgage: Is Your City in a "Declining Market" PART 3 (And A Cool Tool!) - 02/12/08 04:41 PM

Recently I posted 2 articles regarding Declining Markets.
Is Your City in a "Declining Market"?
Is Your City in a "Declining Market"? Part 2
One of the most common questions I get asked by Real Estate Agents and clients is:
"How Can I Tell Find Out What Areas Are Considered A Declining Market"?
Minnesota markets have … (6 comments)

minnesota mortgage: Need Help Explaining the Recent Fed Cut? - 01/25/08 12:22 PM

If your clients are inquiring about the Federal Funds Rate cut on Tuesday here is some information that can help you explain what it is and how it does/doesn't affect mortgage rates.
1. When the Feds cut the Federal Funds Rate, it does not mean that they are cutting mortgage … (0 comments)

minnesota mortgage: Is Your City in a "Declining Market"??? - 01/15/08 11:31 PM

There has been much disturbance currently about the consequences of the designation of Minnesota and the 11 county Twin Cities Metro area (as well as Pierce and St Croix counties in WI) as a "Declining Market". Yes, our state recently "earned" that label. Along with this designation comes more challenges for Loan … (10 comments)

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