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)
home 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)
One lender is all you need, and you may or may not end up working with that lender.
A mortgage pre-approval is the same as an approval in the sense that both involve a check of your finances and your credit. Pre-approval is something less than approval, however, because the property value is preliminary and won't be definitively established until you have a purchase contract. Furthermore, a pre-approval may not specify a mortgage price, and if it does specify a price, it is not binding … (1 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)
home 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)
Real Estate related web sites keeping us in the loop!!
School Matters (reports on schools around the country) Department of Justice Competition and Real Estate REALTOR.com Inman News Great Schools Info Broker Agent News RIS Media REAL Trends Zillow.com Trulia.com rebac.org Build Your Route (Compliments of MapQuest) Real Move Value (includes fliers with home moving tips to remember to send your closed buyers … (0 comments)
York County Pennsylvania home sales here !;)
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