cornelius nc: Should FHA home loans be more expensive? NO!!!!!!!!!!!!!!!!!!!!!!! - 12/02/09 06:30 AM
The federal mortgage insurer's reserve fund has slipped below its mandated minimum. Now the FHA and some lawmakers want to raise up-front costs for borrowers. Should it be more expensive to get a mortgage insured by the Federal Housing Administration? That is the question the House Financial Services Committee is examining on Wednesday afternoon. Currently, FHA loans comprise more than 30% of the entire home-loan market. But as some of those insured loans have defaulted, the FHA loan-guarantee fund has slipped below the Congressionally mandated 2% level. As a result, some lawmakers are suggesting that FHA loans need to be more … (0 comments)

cornelius nc: Renovation Loans Nationwide! Sell those scratch and dent properties with this amazing product! - 10/02/09 12:25 AM
Home sales contracts in 7-month rally Realtors' index rises 6.4% in August for 7th straight gain as tax credit deadline boosts activity. Homebuyers signed more sales contracts in August than in any month this year, boosted by the looming expiration of a homebuyers' tax credit, according to an industry report released Thursday. The August Pending Home Sales Index from the National Association of Realtors (NAR) surged 6.4%, the seventh straight month-over-month improvement in the indicator. The increase far exceeded economists' expectations -- a panel of analysts surveyed by Briefing.com had forecast a 1% rise. Pending home sales rose 3.2% in July. … (0 comments)

cornelius nc: 96.5% Construction to Perm loans with a 620 Credit Score from gabriel libutti - 09/28/09 03:33 AM
Homes: Sell at a loss, buy at a discount Jennifer Galdes wants to buy a home in a better neighborhood, but is now the right time? The month Jennifer Galdes moved into her condo in the Albany Park section of Chicago, the local paper suggested that the area was up and coming. Six years later, she's still waiting for a Whole Foods. Galdes, a self-employed publicist, longs to trade up to a similar-size (2,000-square-foot) apartment in a tonier neighborhood. With area condo prices down 16% since their peak, according to S&P/Case-Shiller, she sees her chance. The catch: She'll have to unload … (3 comments)

cornelius nc: gabriel libutti and american home bank are stronger than ever. Products, stability and strength! - 09/20/09 02:48 AM
Federal Reserve's '5 Tips for Shopping for a Mortgage' by Broderick Perkins Financing the purchase of a home could be the most complex financial decision you'll every endure. You need all the help you can get. To help get you started with the basics, the Federal Reserve offers "5 Tips for Shopping for a Mortgage," because, well, the fundamentals always apply. Don't bite off more than you can chew. Check your budget. You must have a budget so you can estimate what you can afford to pay for a home, including the mortgage, property taxes, insurance, and monthly maintenance and utilities. … (0 comments)

cornelius nc: Portfolio Jumbo Loans in all 50 states by Gabriel Libutti from American Home Bank! - 09/18/09 04:52 AM
Luxury real estate vultures A Fortress Investment veteran is now at an auction house that hopes to feed off of distressed estates. (Fortune Magazine) -- When an ex-managing director of hedge fund Fortress teams up with Sotheby's in a real estate venture, you know something funny is going on in the luxury residential market. But that's basically what happened last month when George Graham, formerly of Fortress's Drawbridge Special Opportunities Fund, joined a real estate auction house that works closely with Sotheby's (BID) International Realty and other firms to sell off luxury homes. Graham is CEO of Concierge Auctions, founded in … (0 comments)

cornelius nc: Construction loans for less than perfect credit! Gabriel Libutti at American Home Bank! - 09/18/09 01:48 AM
Builder confidence up, but tax fears loom An industry group says the nascent recovery in residential real estate could be derailed if a popular credit isn't renewed. NEW YORK (CNNMoney.com) -- An index of home builders' confidence rose in September for the third month in a row, but an industry group said Wednesday the fragile residential real estate market recovery could be cut short if a popular government tax credit isn't extended. The National Association of Home Builders said that its Housing Market Index, which it compiles for Wells Fargo, rose one point last month to 19 -- the highest level … (2 comments)

cornelius nc: Subprime Mess! Lets put Countrywide Ex-CEO in Jail already! - 09/16/09 12:25 AM
Where are the subprime perp walks? Three years after the housing bubble popped, prosecutors have yet to bring a major case tied to the subprime fiasco. What gives? NEW YORK (Fortune) -- Where are the perp walks for the subprime mortgage executives that dragged us into this mess? Three years after the housing bubble popped, federal prosecutors have yet to bring a case against the executives whose firms took part in some of the worst excesses of the subprime mortgage market. It's not like there's a shortage of abuses to investigate. The landscape is littered with the wreckage of financial institutions … (2 comments)

cornelius nc: Consult your tax professionial to be sure! - 09/06/09 02:10 AM
IRS mining mortgage and UBS data to find tax cheats UBS (UBS) data won't be the only data used to find tax cheats. Thanks to a report by the Treasury Inspector General for Tax Administration (TIGTA), called "Mortgage Interest Data Could Be Used to Pursue More Nonfilers and Underreporters," the IRS plans to start looking at how it can use Form 1098 mortgage interest statements to catch tax dodgers. TIGTA auditors found that many people pay significant levels of mortgage interest, yet they are not filing tax returns or filing returns indicating that their income is not sufficient to cover their … (2 comments)

cornelius nc: $8,000 tax credit! Time is running out! - 09/06/09 01:42 AM
Homebuyers cashing in $8,000 tax credits First-time homebuyers around the country have started to cash in on their tax credits from the Recovery Act. Hundreds of thousands of first-time homebuyers across the country have begun to claim their tax credits, according to new government data released on Friday. So far, nearly 315,000 people have claimed the tax credit after filing an amended 2008 tax return, according to a Treasury Department report on the status of the Recovery Act. California led all states with 42,304 claimed credits. Eligible first-time homebuyers can claim the credit of up to $8,000 -- or 10% of … (3 comments)

cornelius nc: Stay away from Loan Modification Scams! There are real non-profits willing to help! - 09/04/09 01:49 AM
Saving homeowners - 1 at a time Housing counselors in New Haven struggle to help an avalanche of distressed borrowers avoid foreclosures. Whenever Alice Steinhardt walks into her office, her phone's message light is red. A foreclosure prevention counselor at Neighborhood Housing Services of New Haven, Steinhardt helps delinquent homeowners catch a break from their loan servicers. She usually gets more than a dozen calls a day, most from panicked homeowners, and a few from bank representatives she has been hounding on behalf of her clients. Somehow, she has to find enough time in her day, which usually stretches from 9 … (0 comments)

cornelius nc: Renovation Tips to save Money! Apply today for your Renovation Loan with Gabe Libutti - 09/04/09 01:44 AM
Plug your money leaks You don't need to spend big bucks to tackle sorely needed home-improvement projects. These smart short-term fixes can do the job. 1 of 4Roof Even the merest bit of moisture seeping in during rainstorms can lead to rot and mold inside walls. Cheap fix: Patch the problem areas. For example, hire a handyman to apply mastic to a leaky plumbing vent stack (cost: about $100) or chimney (about $150) or repair flashing around a skylight ($250 to $500). These methods should keep water out for at least a year or two. Slightly less cheap fix: Replace just … (0 comments)

cornelius nc: It is about time! - 09/03/09 07:17 AM
Fed leans on bankers' banks The U.S. central bank orders Midwest Independent Bancshares and Nebraska Bankers' Bank to increase oversight and improve risk management. The Federal Reserve Thursday ordered Midwest Independent Bancshares Inc., a "bankers' bank" in Missouri that provides services to about 450 financial firms, to strengthen its board oversight and better manage its credit risk, including its exposure to commercial real estate. The Fed issued a similar order Thursday to Nebraska Bankers' Bank, an offshoot of Midwest Independent Bancshares. Bankers' banks provide correspondent banking services, such as credit card operations and clearing accounts, to community banks, and generally do … (0 comments)

cornelius nc: What will you buy with your $8000 tax credit! Hurry up! - 09/02/09 04:50 AM
What I bought with my $8,000 tax credit These 7 new homeowners stepped up their house-hunting to take advantage of the first-time buyer tax credit -- before it expires on Dec. 1. 1 of 7Jonathan and Vanessa Lee Vanessa Lee, 22, with her husband, Jonathan, 24, and their two children. He is a floor care technician at a hospital and she works as an insurance broker. • Act fast! Homebuyer tax credit ends soon • Most affordable cities to buy a house Location: Adelanto, Calif. Property: 4 bed, 2 bath Spanish-style Price: $73,000 Prices may have come down a lot in … (0 comments)

cornelius nc: I disagree with this article. I am as busy as I can be and hope to stay that way! - 09/01/09 07:54 AM
The housing recovery mirage With home prices rising even in California, it might seem that the worst is over for the housing market. But the good vibrations may be short lived. Is the housing bust over? Shares of Toll Brothers (TOL), Hovnanian (HOV) and KB Home (KBH) and other builders have surged. The exchange-traded fund that tracks the group has nearly doubled since March. Home starts have risen for five straight months, while sales of new homes recently hit their highest level since last September. Prices are up as well: the Case-Shiller index of national house prices rose 2.9% in the … (1 comments)

cornelius nc: Is a reverse mortgage right for you? Know all the facts before doing so! - 09/01/09 07:22 AM
Is a reverse mortgage right for you? Sure, it's an easy source of extra income. But there are risks. On the face of it, a reverse mortgage sounds like a no-lose deal for older homeowners. A lender gives you what amounts to a cash advance on your home equity -- no minimum income or credit score required. And you don't have to pay it back until you move or die, when the proceeds from the house sale typically will be used to close out the loan. But in fact, reverse mortgages have some serious drawbacks. Here's what you need to know. … (1 comments)

cornelius nc: Rates are excellent today! - 08/31/09 04:19 AM
New home sales blast past expectations More people are buying: Sales of new homes hit their highest level since last September. Sales of newly constructed homes leaped unexpectedly in July to hit their highest level since last September. New homes sold at an annualized rate of 433,000 during the month, according to a joint report issued by the Census Bureau and Department of Housing and Urban Development. That far exceeded analysts' forecasts and was up 9.6% from the revised 395,000 rate recorded in June. A consensus of industry experts surveyed by Briefing.com had predicted July sales of 390,000. The news followed … (0 comments)

cornelius nc: Appreal your tax bill today! Great Tips below! - 08/31/09 03:15 AM
Property taxes: How to beat 'em Getting overcharged? Appeal your property tax bill the smart way. You know that your home's value has tanked. So why doesn't the blasted tax man? Home prices fell 27% from the 2006 peak to the end of 2008, according to the S&P/Case-Shiller Index, while the amount municipalities collected in property taxes rose 12% from 2006 to 2008. There's a simple fix: Dispute your home's assessment -- and win. Simple, but not always easy. Municipalities are flooded with homeowners seeking tax reductions, and many towns are reluctant to deliver "because they can't find money anywhere else," … (0 comments)

cornelius nc: Realtor Wine and Cheese Wednesday August 12th Cornelius NC! - 08/06/09 06:17 AM

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