Sue's Blog

Today was NOT the best day in my little corner of the world! I had been out of the office since last Tuesday attending the Florida Association of Realtors convention in Orlando and was back and fired up and ready to hit the streets running! We are a correspondent lender and sell a large percenta...

On October 1, 2008, the ability to get an FHA loan and have the seller contribute to a down payment assistance program such as Ameridream ends.  The passage of HR 3221 by Congress took this feature away, ending the ability to have the seller help a buyer to get 100% financing on an FHA loan.  A b...

As the end of Fiscal Year 2008 approaches (September 30, 2008), the USDA Rural Housing Mortgage Program will be temporarily "without funds".  This happens every year, as those of us that have been doing these for a while are aware.  The program is funded with appropriations from Congress and as t...

Taxpayers are sharing the burden of the losses while the CEO's ran out with tens of millions of dollars in bonuses based on bogus numbers created by untrue accounting. I have only one question: when do I get my dividend??   

Tracking the Track Record - What the ‘Experts' Say about Housing Prices     "The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline." - Time Magazine 1947    "Houses cost too much for the mass market. Today's average price is out of reach...

There's a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan's principal. This is the method being used by "Bi-Weekly Mortgage Reduction Services" and "B...

LIBOR, one of the largest indexes that Adjustable Rate Mortgages are based upon, has experienced a huge jump.  If an ARM will be resetting in the near future, the holder of that mortgage may want to consider refinancing it so that the payment doesn't double or triple, especially if they will be g...

  Following is a guide for USDA Rural Housing loans that was sent by the Florida coordinator, Mr. Bob Coordsen.  It has a lot of good information here!         

Maximum Interest Rates for Single Family Housing Guaranteed Loan Program    The Agency and approved participating lenders must adhere to RD Instruction 1980-D, section 1980.320 when calculating the maximum interest rate allowed for Single Family Housing Guaranteed Loan Program (SFHGLP) loans.  C...

The following map shows those areas in Walton County, FL that are eligible for USDA Rural Housing loans.  Basically, the entire county is eligible!  Under the map is the income guidelines used to determine if a buyer would qualify for a USDA Rural Housing loan based on the number of people in the...