fha: Part 2 - Down Payment Assistance Rescue H.R. 6694
- 09/15/08 04:08 AM
With the melt down of Lehman Brothers Holdings Inc., once the fourth-largest investment bank in the US, the buy out of Merrill Lynch by Bank of America, Insurance Giant AIG looking for $40 Billion in "shore up money", and over 117 banks on the FDIC Watch List (source www.cnbc.com), the negative impact to the real estate industry, particularly the conventional lending arena, could be legendary... perhaps more dynamic and life changing than the events of the Great Depression. These turns of events simply reinforce the need to do all we can to convince congress to pass H.R. 6694 before they adjourn for the year on … (4 comments)
fha: Down Payment Assistance Rescue H.R. 6694
- 09/10/08 06:25 AM
By now, everyone, or almost everyone, is aware that the Housing and Economic Recovery Act of 2008 was signed into law by President Bush on July 30th, 2008. The bill was strongly supported by the NATIONAL ASSOCIATION OF REALTORS® (NAR). What many don't know is that NAR did not oppose SEC. 2113. CASH INVESTMENT REQUIREMENT AND PROHIBITION OF SELLER-FUNDED DOWN PAYMENT, a component of this bill that ripped away Down Payment Assistance Programs and increased the minimum down payment requirement of FHA buyers. I have searched everywhere to try and find an answer to why NAR would not take a stand … (12 comments)
fha: Congress Stabs FHA Buyers Through The Heart
- 07/27/08 11:21 AM
Just when buying a house couldn't be any more challenging today, Congress and President Bush railroaded the FHA buyer with a last minute addition to HR 3221aka, - The Housing and Economic Recovery Act of 2008 - aka, The Foreclosure Prevention Act of 2008 - aka, The New Direction for Energy Independence, National Security, and Consumer Protection Act - aka, The Renewable Energy and Energy Conservation Tax Act of 2007 - and... aka, The American Housing Rescue and Foreclosure Prevention Act of 2008. First, and before I launch into my tirade about Section 2113 of HR 3221, I want you to … (1 comments)
fha: FHA & VA Home Buyers Have A Golden Opportunity
- 04/26/08 06:26 AM
FHA & VA Home Buyers Have A Golden Opportunity Consider this; new figures out today on the continued housing market slump making news, yet again, with new construction brining in national number of an 8.5% drop in sales for the first three months of this year and the National Association of Realtors sites a continued lag in March 2008 real estate sales of just under 17% of the March 2007 figures. These numbers are equal to figures we saw over a decade and half ago, back in 1991. Your FOX 10 MLS-Experts have the right answers to help educate sellers about … (2 comments)
fha: Real Estate Prices Are On The Mend
- 03/20/08 02:36 AM
Real Estate Prices Are On The Mend The Real Estate market has been in the tank for the past 24 to 30 months. Last week, when the HUD announced the increase to FHA Loan Limits from $263,300 to $346,250 it was like a huge burden had been lifted from the back of the real estate industry. Every agent we have spoken with in the past week has declared a market increase in buyer activity. Listing are seeing more activity and even encountering multiple buyers. While Eliott Pollack, arguably the most intelligent Arizona economist in the valley, noted that the worst of the value … (4 comments)
My BLOG is published to help contribute mine and my wife, Lori Klindera, knowledge and experience of the industry, unusual transactions, and other industry related articles. We are REALTORS for over two decades, practicing first in Florida and now for the past decade plus, in The Valley of The Sun, Phoenix Arizona.
With the melt down of Lehman Brothers Holdings Inc., once the fourth-largest investment bank in the US, the buy out of Merrill Lynch by Bank of America, Insurance Giant AIG looking for $40 Billion in "shore up money", and over 117 banks on the FDIC Watch List (source www.cnbc.com), the negative impact to the real estate industry, particularly the conventional lending arena, could be legendary... perhaps more dynamic and life changing than the events of the Great Depression. These turns of events simply reinforce the need to do all we can to convince congress to pass H.R. 6694 before they adjourn for the year on … (4 comments)
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