Sean Murphy's (coast0downlender) Blog

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Mortgage and Lending - Centennial Mortgage Corp.
RECENT BLOG POSTS
The power of depreciation is that it is a great way for investors to boost buying power by reducing taxes.  Lets take for example a $140,000 go zone purchase.  Generally the land basis is 20% so say $28,000.  That leaves $112,000 times 50% or $56,000 of depreciation for the first year if you choo...
03/03/2008
  Are you a builder or developer who is looking for the best lender for your buyers and investors?  Look no further.  Call Sean Murphy at Community First Bank.  We are a financially strong federal savings and loan with our own in house processors and underwriters for quick turnaround times.  Call...
03/03/2008
On Monday, October 1, 2007, the U.S. Department of Housing and Urban Development ("HUD") published its final rule (attached herein) governing seller-funded downpayment assistance gifts in connection with Federal Housing Administration ("FHA") mortgage loan transactions.  Generally, under current ...
10/08/2007
Seven ways to boost your credit scoreBy MARSHALL LOEBMARKETWATCHNEW YORK --If you've been ignoring your credit score, it's time to get your head out of the sand. That three-digit number may seem like an airy abstraction, but it has a very real impact on your life: Credit scores are used to determ...
10/08/2007
Attention Realtors and Investors: Are you an investor and need a go zone lender that can get the job done? If you want some Go Zone tax information call me for the name of a local Certified Public Accountant. Investors looking for preconstruction go zone properties direct from the developer call ...
09/24/2007
Stocks soar after half-point rate cutBy MADLEN READAP Business Writer Richard Drew/AP Photo A television screen in a booth on the floor of the New York Stock Exchange shows the rate decision of the Federal reserve, Tuesday, Sept. 18, 2007. The Federal Reserve cut a key interest rate, Tuesday, for...
09/21/2007
Bernanke assures Hill on mortgage hitBy JEANNINE AVERSAAP Economics Writer Susan Walsh/AP Photo Chairman of the Federal Reserve Ben Bernanke, right, Housing and Urban Development Secretary Alphonso Jackson, center, and Treasury Secretary Henry Paulson, Jr., left, listen to opening remarks prior t...
09/21/2007
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Sound Off In Action: Save money - pay down principalBy PRISCILLA FRULLApfrulla@sunherald.comA reader recently sent in the following question about why borrowers should try to pay off mortgages as quickly as possible:Q: Every now and then I hear about how you should double your mortgage payments o...
09/21/2007
SELLER CONTRIBUTED DOWN PAYMENT ASSISTANCE IS UNDER ATTACKOn September 18, 2007, the House of Representatives passed their version of the FHA Reform Act of 2007. The Bill includes language that specifically prohibits HUD from implementing its Proposed Rule that eliminates the use of Seller Contri...
09/19/2007
Building stronger pays offNew shopping center getting half off its insurance premiumsCongratulations Mark and Brent Cumbest!  This is what I was talking about in one of my previous blogs.  Coast people taking advantage of the go zone and keeping on top of the new rules.  You're making us proud.  ...
09/17/2007
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