mortgage: WaysHome launched by Fannie Mae - 01/06/11 05:39 AM
I was looking for a way to embed the interactive video about "WaysHome" from Fannie Mae into my blog.  If there is a way to embed the video I am not seeing it. 
An email I got from Fannie Mae HomePath Real Estate News says:
"Today, January 6, Fannie Mae launched WaysHomeTM, a new interactive video to educate homeowners about their options to avoid foreclosure, motivate them to make the right decisions, and encourage them to seek help. WaysHome is part of Fannie Mae's Know Your OptionsTM consumer initiative to help today's struggling homeowners and is available on "
I … (3 comments)

mortgage: Does HUD owe you a refund for an old FHA loan? Here's how to find out. - 08/27/10 10:43 AM
This a Re-Blog of a post from Sally Dunbar, a real estate agent in California.  Have you had an FHA mortgage?  Check if HUD owes you money. 
Thanks to Sally for allowing her message for consumers to be Re-Blogged.
If you have ever had an FHA loan, Uncle Sam may owe you a refund.  HUD has been stepping up efforts lately to identify people who have a refund due, but have not collected.  "Could that be me", you ask?  Let's find out.
Go to HUD's website at  and look for the FHA LOAN REFUND program. (You guessed it, my link … (7 comments)

mortgage: FHA announces implementation of lender net worth requirements - 06/15/10 11:52 AM
FHA changes that may affect you as a home buyer.  This is from a lender in TN / GA  not someone in Central Ohio.  Thanks to Richard Smith for allowing his post to be Re-Blogged.
FHA Reform-Strengthening Risk Management through Responsible FHA-Approved Lenders
FHA has issued its new mortgagee letter announcing its implementation of the Final Rule for lender net worth requirements. It should not have much immediate impact on consumers, but it is significant nonetheless.
Perhaps more impact to consumers - FHA will no longer approve loan correspondents - mortgage brokers. This responsibility will shift entirely to HUD approved lenders.

mortgage: Mortgage Credit Certificate for Columbus first time home buyers - 05/25/10 05:34 AM
Mortgage Credit Certificate for Columbus first time home buyers
MCC stand for Mortgage Credit Certificate
How does the OHFA (Ohio Home Finance Agency) MCC (Mortgage Credit Certificate) work? 
From their site:
"Homebuyers who qualify for the program receive a Mortgage Credit Certificate from OHFA, which can be used to reduce their household's tax burden every year for the life of their mortgage loan. With an MCC, a percentage of what you pay in mortgage interest (20, 25, or 30%) becomes a tax credit that you can deduct dollar-for-dollar from your income tax liability. The remaining 80, 75, or 70% of … (0 comments)

mortgage: Grants for Grads - OHFA - 05/13/10 01:33 AM
Grants for Grads -  Gosh I got it wrong...
I was thinking it was graduating from Ohio colleges...  It is graduating from Ohio high schools and then going on to graduate from a college (associate degree, bachelors degree, masters degree, Phd.) but it does NOT need to be an Ohio college...
next step buy a house in Ohio...   Central Ohio homes for sale  - Search
or perhaps get a job in Ohio... then get ready to buy a house.
I went to a class... about OHFA programs including the Grants for Grads Second Mortgage...
Second Mortgage?  The 2.5 second mortgage is … (0 comments)

mortgage: ARE Strategic Defaults (aka "Walking Away") OK? - 05/10/10 04:26 AM
"Strategic Defaults (aka "Walking Away") are OK" is Spencer Rascoff's title.   I am changing it to ARE Strategic defaults OK ?  And I'm gonna slap a poll on..
Did you watch 60 Minutes last night?  I did not.  What do you think? 
Spencer who is with is talking to the real estate industry about Strategic Defaults...  I am talking to the general public.
Thanks to Spencer for allowing the Re-Blog of his post
I've kept mostly silent on this blog about a very important issue affecting the housing market -- strategic defaults. This is the phenomenon where a homeowner, … (4 comments)

mortgage: FHA, the EPA and Flaking Paint - New Regulations May Increase Selling Costs - 04/05/10 11:57 PM
Thanks to Leslie Ebersole in Illinois for allowing this post to be Re-Blogged. 
I have not heard of these changes in  Central Ohio.  I wonder if Central Ohio painting contractors are raising prices for painting on homes built before 1978. 
This could affect buyers and sellers in Central Ohio.  FHA loans are more common than ever.
Satisfying FHA loan approval requirements for properties built before 1978 is about to get tougher and possibly more expensive thanks to new regulations from the EPA.
One of the most common flags in an FHA appraisal is flaking paint. To remedy this, the … (0 comments)

mortgage: Upside Down on Your Home? – Here’s Your Playbook - 04/04/10 12:38 AM
Here's some advice from a loan officer about what to do if you are "underwater" on your mortgage. 
I am surprised to hear 39% of Minnesota is "underwater" and I do not know what the percentage for Ohio is.
Thanks to Charles for allowing this to be Re-Blogged.
In my home state of Minnesota, Minneapolis and Saint Paul have nearly 39 percent of homeowners under water.   I've had the question, "I'm upside down on my home, what are my options?" so many times that I wanted to prepare a menu of options for people to reference.  This article briefly … (0 comments)

mortgage: A Lender’s Appraisal Does Not Care About Your Upgrades - 02/25/10 12:21 AM
This is from Tony Grego next door in Indiana... a loan officer.
I remember a class where a Central Ohio lender said "The appraiser does not care about your granite counter tops...." I about fell off my chair.   Of course the buyer is buying your house because of your granite counter tops.
Thanks to Tony for allowing his post to be Re-Blogged.
Do you feel that pricing a home is a little like throwing darts these days? Sometimes you hit, most times you miss?
At the end of the day Realtors have a next to impossible job trying to … (0 comments)

mortgage: sweeping FHA policy changes - 01/24/10 12:38 AM
More about the changes in FHA that were announced earlier this week from David H. Stevens, the Assistant Secretary of Housing - FHA Commissioner.  This is a Re-Blog.
Earlier this week : FHA Announcements
I wanted to take a moment to make sure you are familiar with events surrounding a sweeping set of policy changes for FHA announced earlier this week. The announcement details the changes that Secretary Donovan promised to deliver by the end of January when he testified before Congress last month.
The new policies are designed to strengthen the FHA's capital reserves so we … (0 comments)

mortgage: Do you use birth control? - 01/23/10 12:43 AM
WOW Financing flashback from someone who has been in the mortgage business a long time. This is a Re-Blog of content from Ruth Vogt who manages a mortgage company branch in Colorado.
Buyers can you imagine being asked "Do you use birth control"  when applying for a mortgage on a Central Ohio home?   I've had never heard that before. I started selling real estate about a decade later than the 1976 date of the  Equal Credit Opportunity Act Ruth references. 
Thanks Ruth...
Thanks those who passed the Equal Credit Opportunity Act (ECOA)!!!!!
Before I explain that question, let me ask … (1 comments)

mortgage: FHA Announcements - 01/20/10 07:54 AM
David H. Stevens the Assitant Secretary of Housing - FHA Commissioner shares the announcements of changes in FHA financing with us via ActiveRain.  
To be fair I heard it from our inhouse loan officer  with Real Living Morgage a few hours ago. 
A Re-Blog of David H. Stevens, the Assistant Secretary of Housing - FHA Commissioner and ActiveRain ( a national real estate network) member.
Today I will be announcing a series of changes to FHA that will affect some of you. As you read about them, please note a few key points.
FHA fell below is legislated … (0 comments)

mortgage: The road to hell and the new mortgage disclosures - 12/21/09 11:09 PM
The new mortgage disclosures 2010
This is national change.... so it affects or is that effects (those are my worst two confusing words, affect and effect...)
The changes in disclosures, the Good Faith Estimate changes  touches us in Columbus as it does consumers all over the country.  This is a Re-Blog of mortgage information from a Florida loan officer, Gerry Suarez Jr. of Thomas Mortgage.   Thanks Gerry for allowing this Re-Blog of your opinion of these changes.  I think Gerry's  "road to hell" caught my attention.
At Real Living HER in Worthington we've been introduced to some of the upcoming changes … (4 comments)

mortgage: Building Good Credit: Getting the Word Out - 10/04/09 10:42 PM
This is a Re-Blog of a post from Steve Shatsky a real estate agent in Dallas. 
Steve lived in Central Ohio in the 1980's.   I believe Steve worked out at Honda.  Lived in the Sawmill Road area? 
Steve is a short sale expert in the Dallas market.
Good Credit does not happen accidentally.  It is a deliberate effort on the part of consumers and it comes from simple things that are within everyone's control.  Things like paying your bills on time, keeping lower balances on your credit cards and not over extending yourself with lines of credit.
The Ad … (4 comments)

mortgage: Low Mortgage Rates - 09/19/09 02:46 AM
Brought to you by Maureen McCabe Real Living HER -Worthington you gotta love this little cartoon especially the piggie bank. 
At the end they refer you to which is Washington State....
If you are looking for info about Central Ohio homes... and a mortgage to buy one while the rates are great .... contact me.
My Mortgage recommendations


mortgage: Columbus first time home buyers - a step by step guide III - Pre-Approval - 08/18/09 10:40 PM
Columbus first time home buyers - PreApproval...
You need a Pre-Approval to buy a home. 
You are not getting PRE-QUALIFIED.  Get a PreApproval. 
It is very, very simple.  PreApproval
Before you get your heart set on a home.
Before you decide on a house where the seller will not look at an offer with out a PreApproval.
Before you lose THE house of your dreams to another buyer who has a PreApproval.
Before you enter into a contract with a seller and risk losing your deposit (earnest money.)
Before you pay for an appraisal.
Before you pay for the inspections on … (0 comments)

mortgage: Peace of Mind Job-Loss Mortgage Protection Plan EXTENDED - 08/05/09 08:46 AM

Extra, Extra read all about it...
Peace of Mind Mortgage Protection.....
"Great news!  We’re pleased  to announce an extension of the Peace of Mind, Job-Loss Mortgage Protection Plan! It will be extended for another month – buyers must go into contract prior to September 30, 2009 and close prior to October 31, 2009."  Chris Svec
Hot news off the presses... if email, Twitter etc. had printing presses.  Actually I saw a tweet that the Peace of Mind Job Loss Mortgage Protection might be extended earlier today.
I had clients qualify for two years of coverage recently.
Real Living … (0 comments)

mortgage: Columbus OH. Loan Officers - Confirmed Loan Officer Program - 08/01/09 02:24 AM
Attention Columbus OH. Loan Officers...
An opportunity for YOU on ActiveRain.  
A few weeks ago, we launched the Ambassador program on ActiveRain. One goal of the program was to work with our most passionate members to welcome, and educate all new ActiveRain members. We hoped that once educated, a high percentage of these new members would choose to upgrade their account to the Rainmaker level.
Happily, this is exactly what happened: a very high percentage of new members contacted by our Ambassadors chose to upgrade! However, even with our Ambassadors' help, we were unable to reach all corners … (4 comments)

mortgage: Ohio college grads - a carrot for you - 07/21/09 08:08 AM
Ohio college grads this carrots for you...
Edit Update Grants for Grads - OHFA
A financial carrot.
"A little-noticed provision tucked into the $50.5 billion, two-year state budget signed last week by Gov. Ted Strickland will reward college graduates who choose to stay in Ohio by offering them help buying their first homes."
from an article on by  Jim Provance called "College grads offered help with 1st house" well I guess it is also subtitled "Recipients must stay in state 5 years " Five years is nothing. That will be over before you know it...
In a sidebar to … (6 comments)

mortgage: Don’t Wait-Only 138 Days to Claim Your Share of the Tax Credit - 07/15/09 01:56 AM
Claim your share of the First Time Buyer Tax Credit
This is a Re-Blog of a  post from Cindy Jones in the Washington DC area... pricing is a bit more affordable in Central Ohio. Real estate is local but some of this is universal information and time frames. We don't use the term "ratified" in Central Ohio but I believe Cindy's point is that if you are buying a home that is not a short sale or a bank owned property you can get in contract more quickly.    The good news is we do have homes in many neighborhoods that are … (0 comments)

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