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Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use



St Paul, MN: The House of Representatives voted Tuesday to give first-time homebuyers three more months (Sept. 30, 2010) to close on their purchases and receive up to an $8,000 federal income tax credit. Washington had to act fast - the original deadline to close was June 30th. The bill doesn't h...
The proposed EXTENTION to the CLOSING DATE for the Home Buyer Tax Credit DID NOT PASS yesterday. Unfortunately it was attached as part of a much larger Jobs Bill that would have extended unemployment benefits another 6 months, and added $33 Billion to the deficit. The proposed bill would have ext...
  BIG Bank Loan Officers versus SAFE ACT Licensed Loan Officers? You Make the Choice! Washington has been busy protecting consumers from bad lenders right? Wrong! While they made a lot of changes, most of them are pretty meaningless to the consumer, and some have been clear disasters (the new Goo...
  Just something to think about... Where do YOU fit? FICO CREDIT SCORE GRADE AND FORECLOSURE RISK BY THE NUMBERS   GRADE AA = over 760 A = 720 - 759 B = 680 - 719 C = 640 - 679 D = 600 - 639 E = 560 - 599 F = 520 - 559 AVERAGES 2% of the population have scores under 499 5% of the population has a...
  Your choice of lender is more important than the guy "quoting" the lower rate. Quoting is easy, anyone can quote. Actually delivering on that quote, and actually getting the best mortgage deal is something else. Need a mortgage in Minnesota or Wisconsin?   WHAT IS MORTGAGE APR, Can You Explain ...
Mortgage expert say: NOW is good time to refinance Minneapolis / St Paul, MN: - Mortgage rates were supposed to go up this spring, but they're doing just the opposite. Six months ago, nearly all the experts thought mortgage rates would climb this year once the FED Stopped artificially holding up ...
CAN YOU GET AN FHA MORTGAGE LOAN AFTER A SHORT SALE In general, a Pre-Foreclosure/Short sale transaction occurs when the borrower sells the mortgaged property for less than the total indebtedness and the lender agrees to accept the net proceeds as satisfaction of the debt. In some cases, the len...

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