hr 3221: The Economic Crisis - A Quick and Simple Explanation - 12/31/08 01:07 AM
A friend sent me a link to this video.  I am routinely asked about the economy.  How did we get into this mess?  How are we going to get out of it?  Click here to see a simple explanation.
I understand the reactions to this video could be wide-ranging depending on your political views.  I am not sharing this to spark any debates.  Just sit back, scratch your head, and share your thoughts. 
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hr 3221: Top 3 Benefits of HR 3221 - 11/07/08 04:17 AM
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hr 3221: FHA New Down Payment and LTV Requirements - 09/10/08 06:11 AM
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hr 3221: HR 3221 - Tax Credit Provision FAQ - 09/10/08 02:47 AM
Since the signing of HR 3221 on July 30th, there has been much discussion of just what this bill means.  Anytime we are dealing with an 800 page document written by politicians and attorneys, there is going to be confusion.  Much of the language in the bill is vague and open to some degree of interpretation.  Because of this, I have been looking to other mortgage industry experts and leaders for answers.
One of the most intrguing and discussed aspects of this bill is the First Time Home Buyer Tax Credit.  This provision allows for First Time Home Buyers to receive … (2 comments)

hr 3221: FHA Announces New Mortgage Insurance Premiums - 08/28/08 10:29 AM
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hr 3221: FHA Changes... - 08/13/08 11:47 AM
To use Seller Funded Down Payment Assistant (DPA, Nehemiah), final underwriting must be completed by September 30, 2008. This type of DPA will not be available after September 30. Two out of every three FHA loans are currently using Seller Funded DPA so it is important to act now!
 
FHA minimum cash investment requirements are increasing to 3.5%, from 3%.  
 
MIP will increase after October 1, 2008. HR 3221 increased the cap on MIP from 2.25% to 3%. Per FHA policy, FHA has filed the amount they want the cap to be with the Office of Management and Budget (reported … (1 comments)

 

Karl Peidl

Accredited Loan Consultant

Moorestown, NJ

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Address: 305 Harper Drive, Suite 3, Burlington County, New Jersey, Moorestown, NJ, 08057

Office: 8562(521) 200-1224

Mobile: (609) 254-6687

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