kansas: Lawrence Kansas Mortgages Guideline Updates - 11/13/08 03:30 AM
On Wednesday the 12th ,2008, the Department of Housing and Urban Development (HUD) issued a press release announcing the finalization of its changes to the Real Estate Settlement Procedures Act (RESPA).  HUD has released a Fact Sheet on the final Rule as well as a copy of the new GFE and HUD-1.
For the first time ever, HUD will require mortgage lenders and brokers to provide borrowers with an easy-to read standard Good Faith Estimate (GFE) that will clearly answer the key questions they have when applying for a mortgage including:
     What is the term of the loan?
     Is … (2 comments)

kansas: Lawrence Kansas Mortgages rates update - 11/05/08 03:57 AM
Rates are on the move, in a good way, DOWN.  Stocks are down, and investors are moving money back into bonds.  Lets hope this gains traction and rates get so low buyes can't help them selfs, but to get back in the market.

 
About Us:
With 7 years of experience working with Realtors, Investors, and most importantly BUYERS.  The client always comes first.  As a Broker, I can provide the best rates, and fair closing cost.  My GFE's usually are spot on, and never are to be exceeded without written notice to the buyer usually weeks in advance of closing.
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kansas: Lawrence Kansas Mortgages rates - 11/04/08 02:19 AM
Rates:
With little or no news to effect rates today, watch the stock market.  If we get a big change in the stock market today, we can see a change in rates, moving the other direction. As of this posting, the stock market is up 290 points at 10:15 local time.  If this trend continues, expect a small rate increase.

 
About Us:
With 7 years of experience working with Realtors, Investors, and most importantly BUYERS.  The client always comes first.  As a Broker, I can provide the best rates, and fair closing cost.  My GFE's usually are spot on, and … (0 comments)

kansas: Lawrence Kansas Mortgages - 11/04/08 02:14 AM
Will the TV networks go off the air?
 
Now that the political ads have run us into TIVO mode while trying to watch our favorite TV shows, will there be enough advertizing to keep the networks afloat?  I sure hope so, because I miss shows like 24, and others. 
How much work did the two senators get done while pulling full salaries and benefits?  We the tax payers paid them full boat while they spent millions in advertizing on television.  What is wrong with this picture? I guess the TV population liked it, and I guess it will help the … (0 comments)

kansas: Lawrence Kansas Mortgages and market conditions - 10/27/08 04:46 AM
The Bottom is near. 
Bottom of what?
Stock markets, housing prices, bond markets, commodities and the like are showing signs of being near the bottom of there current values.
 
Don't think of these markets are having a true bottom, think of this as a natural event taking time.  No one true moment will be the absolute bottom, however when looking back we will see what dips an bumps are truly the bottom of each market.  Think about several bounces occurring, kind of like a ball bouncing down a stairway. Even after the last step, the ball will keep bouncing.
 
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kansas: Mattress Money Lawrence Kansas Mortgages - 10/17/08 04:25 AM
Warren Buffett made a statement today that people who keep there hard earned cash under the mattress will fall behind in net worth.  The banks are safe, your cash is now protected and backed by our government.  If your not investing in the market, says Mr. Buffett, you will loose your net value in the long term. His idea of a long term is 5-10 yrs.  Is your money working for you, or is it keeping you warm at nights under your mattress?

 
About Us:
With 7 years of experience working with Realtors, Investors, and most importantly BUYERS.  The client … (3 comments)

kansas: Lawrence Kansas Mortgages Rates - 10/02/08 05:10 AM
Market Updates:
 
Volatility is still the name of the game.  The Senate passed a new version of the $700 Billion rescue plan last night by a wide 74-25 margin.  This Bill has a few tweaks from the old one that was shot down in the House, including raising the FDIC insured limit to $250,000 from the $100,000. This is designed to stop the run on banks that has caused so much of a problem in the banking industry.  Even with the bill in the Senate passed, stocks are down heavily. Why?  This Bill is far from being passed, right now … (0 comments)

kansas: Rates Lawrence Kansas Mortgages Home Loans, realestate - 09/30/08 10:59 AM
Look I have been watching rates move up several times each day, since the house failed to pass the bail out plan.  This trend will continue.  It will only stop when our law makers get there act together and pass a plan to loosen up the liquidity paralysiswe are now experiencing.  If and when that finally happens we can enjoy a down ride on the rate elevator.
 
About Us:
With 7 years of experience working with Realtors, Investors, and most importantly BUYERS.  The client always comes first.  As a Broker, I can provide the best rates, and fair closing cost.  … (0 comments)

kansas: Lawrence Kansas Mortgages update What's next, house axes bail out - 09/29/08 06:44 AM
Now that the house has failed to pass the bail out bill, stocks are down, bonds are up. oil is down, gold is up.  All on the figure pointing at the partisan vote of the house.  So your retirements being held in mutual funds, (that's about 50% of the US) keeps seeing the value drop more and more.
Something has to give, soon.  Make it clear to your representatives that we all need to pull together and come up with an agreement that will hold wall street and main street together.

 
About Us:
With 7 years of experience working … (0 comments)

kansas: Lawrence Kansas mortgages/realestate another one bites the dust - 09/26/08 03:06 AM
Washington Mutual, was seized by the federal Office of Thrift Supervision .  This is the largest bankfailure in US history.  The Assets of Washington Mutual were sold to JP Mprgan Chase for $1.9 Billion.  This story highlights the sense of urgence required to pass some sort of rescure plan quickly.  Who will be next?

 
About Us:
With 7 years of experience working with Realtors, Investors, and most importantly BUYERS.  The client always comes first.  As a Broker, I can provide the best rates, and fair closing cost.  My GFE's usually are spot on, and never are to be exceeded without … (1 comments)

kansas: Lawrence Kansas Mortgages Guidelines Buy & Bail - 09/23/08 02:57 AM
To address increasing occurrences of the practice known as "buy and bail," FHA has issued Mortgagee Letter 08-25- Converting Existing Homes to Rentals- underwriting instructions.  FHA is instituting the following requirements for borrowers who purchase a new primary residence without selling their existing primary residence.  The term "buy and bail" refers to a developing trend where borrowers purchase a new primary residence either closer to their employment or in close proximity to their existing primary residence.  Once the new mortgage is closed, the borrower stops making mortgage payments on the original primary residence and allows the lender to foreclose.
 
Effective … (0 comments)

kansas: Lawrence Kansas Mortgages Guideline Updates buy and bail - 09/23/08 02:52 AM
To address increasing occurrences of the practice known as "buy and bail," FHA has issued Mortgagee Letter 08-25- Converting Existing Homes to Rentals- underwriting instructions.  FHA is instituting the following requirements for borrowers who purchase a new primary residence without selling their existing primary residence.  The term "buy and bail" refers to a developing trend where borrowers purchase a new primary residence either closer to their employment or in close proximity to their existing primary residence.  Once the new mortgage is closed, the borrower stops making mortgage payments on the original primary residence and allows the lender to foreclose.
 
Effective … (0 comments)

kansas: Lawrence Kansas Mortgages Update Markets - 09/22/08 04:39 AM
Lawrence Kansas Mortgages and updates (edit/delete)
9/22/08
 
Volatility continues to be the name of the game.  Rates are opening up higher that Fridays close.  Inflation is pushing up commodities, and we have a slow week of information that can confirm inflation.  Wednesday existing home sales number will be out followed the next day with new home sales.
Trend for new is to lock if you can, I see rates on the move, in the wrong direction.  However with the volatility in mortgage bonds just about any news can send rates in another direction.  Watch your news and see where … (0 comments)

kansas: Lawrence Kansas Mortgages and updates - 09/22/08 04:37 AM
9/22/08
 
Volatility continues to be the name of the game.  Rates are opening up higher that Fridays close.  Inflation is pushing up commodities, and we have a slow week of information that can confirm inflation.  Wednesday existing home sales number will be out followed the next day with new home sales.
Trend for new is to lock if you can, I see rates on the move, in the wrong direction.  However with the volatility in mortgage bonds just about any news can send rates in another direction.  Watch your news and see where are next move will be.
 
Bob … (0 comments)

kansas: Financials, a week in history. Where we will go from here. - 09/19/08 03:54 AM
A week in History
 
There are three huge announcements that are changing the financial markets around the world. 
First, fear over the safety of money in savings for many Americans. Banks are either folding or on the brink of collapse, bonds are losing some or all of their value, and stocks are dropping at an alarming rate, all causing fears and anxiety for investors.
Second, Today Treasury Secretary Hank Paulson announced that the government will guarantee money market funds. This action is helping settle the markets and as a result stocks around the world have responded very favorably to this.
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kansas: Lawrence Kansas Mortgages Guideline Update Non Owner Occupied - 09/18/08 02:58 AM
UPDATE:
Starting today, all PMI company's have discountiued offering private mortgage for non owner occupied purchases.  This means 80% LTV max.  or at least 20% down on all investment property.
About Us:
With 7 years of experience working with Realtors, Investors, and most importantly BUYERS. Mortgages are what I do. The client always comes first.  As a Broker, I can provide the best rates, and fair closing cost.  My GFE's usually are spot on, and never are to be exceeded without written notice to the buyer usually weeks in advance of closing.
My follow up with my clients and co marketing plans are welcomed by … (1 comments)

 

Bob Buchanan

Lawrence, KS

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First Assured Mortgage

Address: 4830 Bob Billings Parkway Suite 100A, Lawrence, KS, 66049

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