Hud has been playing the Grim Reaper on the Down Payment Assistance Programs lately. As most are aware the Down Payment Assistance Programs has helped many homeowners in the past acquiring down payment assistance for government loans that required a minimum of 3% down. Recently HUD has made it clear that the Ban will take place on October 1st 2008 eliminating DAP's.
Another change taking place is the increase from the minimum 3% down payment required to ---> 3.5% now. The increase also will start on October 1st 2008.
The Ticking Time Bomb Now nothing is … (16 comments)
Great News - Great News - Great News A new incentive passed by the Housing and Economic Recovery Act of 2008 allows First Time Home Buyers to receive a $7,500 Tax Credit from the purchase of their new home. From June 1st 2008 - June 1st 2009 will be in effect. ( Can be retroactive back to April 2008 ) Income restrictions is $75k income for Singles and $150k income for married couples. This is a Tax Credit and not a Tax deduction which means mostly will add to your refund money instead of just another write off. For … (6 comments)
Consistency and practicing your core fundamentals is a strong trait to have. Many times especially in this business professionals tend to become cumbersome in following through a complete transaction process and tend to find shortcuts or alternatives in doing their job. I have had recently came across golden opportunities through the misfortunes of my competition in their costly mistakes.
One client was 90% done with the purchase process with another lender and during the closing conditions of the loan (homework that needs to be done before closing a loan) The client was asked to provide bank statements showing … (6 comments)
I am so proud to be part of this family and I I couldn't ask for a better lender to work for as a Loan Officer. Recently I got news that... Congratulations -- We’re #1 Again!! A Message From The Retail Leadership Team For the 16th year running, WFHM is the #1 Retail lender. Congratulations!! This tremendous record is attributable to great teamwork and the dedication of the entire Retail team. In addition to extending a huge THANK YOU for your efforts, we also want to let you know how important it is to keep the streak alive. … (0 comments)
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