Fannie and Freddie Fail To Meet Low Income Lending Goals
We have heard how evil lenders have been writing loans to families that could not pay it back and causing the housing crisis. But if you look at the facts Fannie and Freddie encouraged this behavior. By admitting they have failed to hit their quota they are telling us that even they think the mandates that Congress gave them are crazy. Both companies missed their 2008 goal to set aside 56 percent of their loan purchases and mortgage guarantees for low-and moderate-income … (1 comments)
help for first time buyers: New Home Sales Down Even With First Time Homebuyers Credit
- 11/30/09 04:34 AM
New Home Sales Down ! First Time Homebuyers Tax Credit Not Helping Much ..... New Home sales dropped in September as buyers decided this may not be the time to purchase a new home. Single family homes sales were down nationwide by 3.6 percent. What is interesting is that the National Association of Home Builders used the downturn as a call for Washington to increase the $8,000 new home buyers subsidy. Now I understand why, that is $8,000 more per home the government will give the builders towards the price of a home, or if we want to be technical, … (0 comments)
help for first time buyers: IMPORTANT LENDING INFORMATION JUST IN 5/29/09
- 05/29/09 03:40 AM
York Pennsylvania here! Lot's on the docket today, so read on! Good news #1- After the carnage of Wednesday, as of right now, we have reclaimed half of that days loss of 207 "basis points" (34 bps yesterday and 94 as of right now today!) This is very encouraging as it may show that the move on Wednesday was indeed a "panic selloff" and we will move back to those levels. I have heard many analyst and pretty smart people commenting that the FED will have to make some announcement as to their intentions for the MBS program and that they … (0 comments)
I have had several clients wanting to explore Lease-to-Own Purchases lately. I look forward to this helping comsumers. What Is a Lease-to-Own Purchase? A lease-to-own house purchase (also "rent-to-own purchase" or "lease purchase") is a lease combined with an option to purchase the property within a specified period, usually 3 years or less, at an agreed-upon price. The borrower pays an option fee, 1% to 5% of the price, which is credited to the purchase price. The borrower pays rent, and an additional rent premium that is also credited to the purchase price. If … (0 comments)
help for first time buyers: Short Sales
- 04/22/09 01:07 AM
The Deal Killer of Short Sales Over the past year we have seen and read more about short sales than we probably ever wanted to know. For most pros out there it's a market niche that they have avoided because of the difficulty and uncertainty generally associated with short sales. And I think we would all agree that the process is, if anything, daunting. But there is one thing that is often overlooked that could increase your success rate. Many times in the rush to get the lender onboard the documentation process becomes the primary focus. Everything is zeroing in on … (0 comments)
The ins-and-outs of the $8,000 First-Time Homebuyer Tax Credit
If you are - like many Americans - trying to figure out the best time to make your first home purchase, then you may want to take a closer look at the first-time homebuyer tax credit included in the American Recovery and Reinvestment Act, which was signed into action by President Barack Obama on February 17, 2009. Repayment
The 2009 homebuyer credit DOES NOT require repayment. Repayment of the credit is only required if the … (1 comments)
York County Pennsylvania home sales here !;)
;)
