mi: No Go For MI Under 575 - 11/27/07 02:09 AM
Well, another lender tightens thier grip!
Looks like FHA is going to HAVE to be the way to go for yout sub-575 FICO borrowers...
:-)\
(0 comments)

mi: 2 Mortgage Bills Progress - HR3609 passed. - 10/09/07 02:34 AM
The U.S. House of Representatives subcommittee Thursday reportedly passed H.R. 3609.
The bill would allow bankruptcy judges to modify the terms of a mortgage contract during bankruptcy proceedings. And, by a vote of 385-28, the House of Representatives Thursday passed H.R. 3648.
That bill would extend the deductibility for mortgage insurance premiums for seven years and exclude discharges of debt on primary residences from gross income.
Nobody likes Mortgage Insurance...at least it is tax deductible.
:-)
(4 comments)

mi: As of November 1st 2007 Mortgage Insurance rates will be increasing, and - 09/28/07 02:01 AM
•1.     As of November 1st 2007 Mortgage Insurance rates will be increasing.  Coverage amounts will remain the same but the factors are changing.
•2.   As of November 1st 2007, the Mortgage Insurance companies are scrutinizing lower credit scores more than ever.  In some cases regardless of AUS findings they will not insure the loan. Many of the changes are in line with FNMA requirements. 
•3.   I have seen, especially with My Community Mortgage, that if you are still using DO Version 5.6 it does not have the most up today changes.  Make sure your system is at least Version 5.7 to take advantage of the … (0 comments)

 

Kris Krajecki

Mortgage Broker Huntley, IL

Huntley, IL

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Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

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