Jabin Norris's (jbroker1) Blog

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Real Estate Agent - CENTURY 21 Anne Arnold
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Mortgage insurance is a policy that protects lenders against some or most of the losses that result from defaults on home mortgages. It's required primarily for borrowers making a down payment of less than 20%. Like home or auto insurance, mortgage insurance requires payment of a premium, is for ...
03/27/2009
Keep living in your home to qualify for assistance. HUD has a number of special loss mitigation programs available to help you: Special Forbearance: Your lender will arrange for a revised repayment plan which may Include temporary reduction or suspension of payments; you can qualify by having an ...
03/27/2009
The FHA is generally more flexible than conventional lenders in its qualifying guidelines. In fact, the FHA allows you to re-establish credit if you can proceed one of the following. two years have passed since a bankruptcy has been discharged all judgments have been paid any outstanding tax lien...
03/27/2009
You may qualify to exceed if you have the normal loan debt ratio by one of the following. a large down payment a demonstrated ability to pay more toward your housing expenses substantial cash reserves net worth enough to repay the mortgage regardless of income evidence of acceptable credit histor...
03/27/2009
Normally as your REALTOR & you enter into the closing room you will present your paid homeowner's insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the seller (remainder of down payment, prepaid taxes, etc.) and the...
03/27/2009
There may be closing cost customary or unique to a certain locality, but closing cost are usually made up of the following: Attorney's or escrow fees (Yours and your lender's if applicable) Property taxes (to cover tax period to date) Interest (paid from date of closing to 30 days before first mo...
03/27/2009
To ensure you won't fall victim to loan fraud, be sure to follow all of these steps as you apply for a loan: Be sure to read and understand everything before you sign. Refuse to sign any blank documents. Do not buy property for someone else. Do not overstate your income. Do not overstate how long...
03/27/2009
The government wants you to buy. To help shore up homeownership, the federal government has given first-time buyers (defined as anyone who hasn't bought a home within the last three years) an $8,000 tax credit, driven down interest rates to historic lows, set up counseling centers to help financi...
03/27/2009
According to studies a recent drop in interest rates will prompt about 18% of all U.S. households with mortgages to refinance this year. For a person with a $230,000 mortgage, refinancing to a 4.75% rate from 6% would yield savings of about $180 a month. As a result of that refinancing surge, new...
03/27/2009
The average rate on 30-year fixed-rate home mortgages hit a record low last week, after the Federal Reserve announced it would purchase Treasury securities over the next six months. The 30-year mortgage averaged 4.85% in the week ended March 26, the lowest point since Freddie Mac's weekly survey ...
03/27/2009
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JabinNorris

Centurion 08null, Broker/Realtor, ABR, SRS, e-Pro
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