orlando mortgages: The FHA Is Changing Its Streamline Refinance Guidelines November 2009
- 10/09/09 03:05 AM
Beginning November 17, 2009, the FHA will make it harder to qualify for its popular Streamline Refinance program.
Available exclusively to homeowners with existing FHA home loans, the streamline program is meant to help homeowners reduce mortgage payments as simply as possible.
As such, the program carries minimum eligibility requirements.
In fact, the FHA Streamline Refinance is more notable for what it doesn't require from applicants.
There's no income verification There's no asset verification There's no employment verification There's no appraisal required The two biggest qualifiers, really, are... READ FULL STORY HERE
The FHA Is Changing Its Streamline Refinance Guidelines November 2009
--------------------------------------------
… (0 comments)
|
orlando mortgages: It's A Good Time To Look At Adjustable-Rate Mortgages
- 10/09/09 02:39 AM
According to the Freddie Mac weekly mortgage rate survey, the relative cost of a 5-year ARM is dropping versus its 30-year fixed-rate cousin. During the first 5 months of 2009, the products ran neck-and-neck. Today, they're a half-percent apart. On a $200,000 home loan, that's a difference of $60 per month. Adjustable-rate mortgages aren't for everyone, but for the right household, they can be a terrific fit. A few scenarios that warrant consideration of a 5-year ARM include persons:
Buying a home with an intent to sell within 5 years With a 30-year fixed mortgage and plans to sell within 5 … (1 comments)
|
orlando mortgages: LOWER cost of living for Altamonte Springs Real Estate Owners
- 11/25/08 08:51 AM
If the presence of inflation causes mortgage rates to rise, then the absence of inflation should cause mortgage rates to fall. And, in most markets that's true.
Today, it's not.
Despite a deep, month-over-month dip in consumer prices...
Read the rest here:
LOWER cost of living for Altamonte Springs Real Estate Owners
(Image courtesy: The Wall Street Journal Online)
… (1 comments)
|
orlando mortgages: Finally! The Urgency Longwood Real Estate Buyers Need...
- 11/24/08 12:08 AM
So you wanna deal on Longwood Real Estate. I completely understand... I do to, in fact with the gloom they are painting for retail this Christmas [and Yes, iI am one of the ones still willing to CALL it Christmas] I have thought about scooping up a deal on one of those super-duper flat-screens... but I digress. Back to your needs... not mine. =0) When it comes to housing info, there are always 2 questions to think about: How does this impact Longwood real estate buyers? How does this impact Longwood real estate sellers? Since these are commonly on opposite sides … (1 comments)
|
orlando mortgages: Florida FHA Loan Limits are going DOWN for 2009
- 11/22/08 07:18 AM
It is important for Florida Home buyers to know that Florida FHA loan limits are going down for 2009. For 2008 Seminole County loan limits, it is a HUGE drop. The new loan limits per county are as follows:
2009 FHA Limits – Florida All areas except those counties listed below:
One-Unit $271,050
Two-Unit $347,000
Three-Unit $419,400
Four-Unit $521,250
Monroe County 28580 FL $529,000 $677,200 $818,600 $1,017,300
Collier County 34940 FL $448,500 $574,150 $694,000 $862,500
Broward County 33100 FL $345,000 $441,650 $533,850 $663,450
Miami-Dade County 33100 FL $345,000 $441,650 $533,850 $663,450
Palm Beach County 33100 FL $345,000 $441,650 $533,850 … (5 comments)
|
orlando mortgages: Are Florida's Foreclosure Deals Good for Second Homes?
- 11/18/08 10:18 PM
Foreclosure - especially in Florida is a hot topic among the press lately and it is interesting to see a staggering number of the sales in today's market are comprised of foreclosures and/or short sales... especially in South Florida. It's hard to turn on the TV or open up a paper without seeing a sensationalized story about it.
But what's even more interesting about the foreclosure situation is that they appear to be consolidated in certain areas of the country. Of the four primary states... two of those were head and shoulders above the others. [Woo hoo... we never do … (1 comments)
|
orlando mortgages: Does less jobs mean Cheap Lake Mary Real Estate Deals?
- 11/17/08 10:29 PM
How come everything in Orlando gets cheaper when everyone is worried about their job and don't want to spend any money!!
Okay, so it is a rhetorical question and the answer is somewhat obvious, but how cool would that be if, everything got cheaper and you just got a raise!?
I feel your pain.
Well, on the first Friday of every month, the Bureau of Labor Statistics releases the 'jobs report'... officially called the 'Non-Farm Payrolls report.' Well, the October's data is trending with the rest of 2008. See the pretty graph? Don't let the green fool you.
After dropping another … (3 comments)
|
orlando mortgages: Buying Longwood Real Estate buttt... 'renting' the current residence huh?
- 11/05/08 03:18 AM
Conforming mortgage guidelines are the Home Loan Rule Book for Longwood real estate, Lake Mary real estate... and well... pretty much anywhere these days. This Orlando Home Loan 'Rule Book' helps in delineating between applicants that get approved for an Orlando mortgage and those that do not.
Well, the rule book just got a little bit tougher. According to Fannie Mae...
Blog Post Continues:
Buying Longwood Real Estate buttt... 'renting' the current residence huh?
… (2 comments)
|
orlando mortgages: Orlando Real Estate Market: What we can Control...
- 11/04/08 01:18 AM
By Michael Dale - Vice President, Dave Brewer Realty, Inc.
Wow, given the recent dramatic economic events where do I begin; the stock market, the mortgage market, the secondary mortgage market as represented by Fannie Mae and Freddie Mac?
Each of the aforementioned have so overwhelmingly impacted our economy let alone our housing market. Many I have conversed with this past week are angry and frustrated. These institutions are so mammoth and to most of us represent entities that we can’t touch let alone think of impacting or affecting change upon. And then when you add the additional frustration...
… (3 comments)
|
orlando mortgages: Sanford - 4/3 2567 sq ft SFH - Chris Brown - FSBO
- 11/03/08 04:21 AM
… (4 comments)
|
orlando mortgages: Lake Mary - 5/3 2753 sq ft SFH - Pat Basy - ReMax
- 11/03/08 04:18 AM
… (1 comments)
|
orlando mortgages: Winter Springs - 4/3 2426 sq ft SFH - Fred & Carol Adams - Watson Realty
- 11/03/08 04:14 AM
… (1 comments)
|
orlando mortgages: 4/2 2000 sq ft Home for Sale - Scot Prince - Dave Brewer Realty - DeBary Golf & CC.
- 10/27/08 07:54 AM
… (0 comments)
|
orlando mortgages: 4/3 2567 sq ft Home for Sale - FSBO - Dropped $70,000 - Kay's Landing
- 10/27/08 07:50 AM
… (2 comments)
|
orlando mortgages: 4/3 2800 sq ft Home for Sale - Frank Benevento - Coldwell Banker - Heathrow
- 10/27/08 07:44 AM
… (0 comments)
|
orlando mortgages: 3/2 1533 sq ft Townhome for Sale - June Moore - Coldwell Banker
- 10/27/08 07:05 AM
… (0 comments)
|
orlando mortgages: 3/2.5 1778 sq ft Home for Sale - Kelly Green - Realty Executives
- 10/27/08 06:45 AM
… (1 comments)
|
orlando mortgages: 5/3.5 4400 sq ft Home for Sale - June Moore - Coldwell Banker
- 10/27/08 06:41 AM
… (0 comments)
|
orlando mortgages: The Truth about predicting Orlando Mortgage Rates
- 10/16/08 11:15 AM
What did the snail say when he got on the turtle back?
Weeeeeee......
[laugh, that is as funny as it gets]
Well, this is what most of us are saying about these market dips and jumps! It's important to remember that markets are unpredictable and nobody knows what will happen tomorrow.
Unfortunately, that doesn't stop the 'experts' from trying.
An obvious example comes from....
Read the whole informative blog:
The Truth about predicting Orlando Mortgage Rates
Chris the Implementer
Orlando Mortgages | Orlando FHA Loans
Orlando Real Estate | Florida Reverse Mortgages
Florida Short Refinance | Mortgage Chili Blog … (4 comments)
|
orlando mortgages: Should you get an Orlando Refinance? Should you tap your assets?
- 10/03/08 01:01 AM
I once heard a comparison of a recession and a depression that made me chuckle. Okay, I don't chuckle... those that know me know that i full-tilt just laugh at stuff. Anyway, the comparison went on to say: A recession: When people are losing their jobs. A depression: When you lost your job. While we technically are not in either, some folks are tightening the belt and looking for ways to keep their powder dry. Should they refi??
Should they take a hardship withdrawal from their 401(k)??
In tougher times, miscalculated steps can be much more costly... so what do … (4 comments)
|
Beginning November 17, 2009, the FHA will make it harder to qualify for its popular Streamline Refinance program.
;)
;)
;)
