home: National Flood Insurance Program Expired, Senate Adjourned Without Renewing March 28, 2010 - 03/30/10 09:02 AM
National Flood Insurance Program
The program expired on March 28, 2010.  .  Unfortunately, the United States Senate adjourned without approving H.R. 4851, which would have extended a number of programs including the National Flood Insurance Program (NFIP).   The lapse in authority means that mortgage transactions will be delayed in which a new flood policy is required but was not issued before the expiration date.  A procedural motion has been filed in the Senate setting up a vote for the week of April 12th.
Almost all national mortgage lenders will hold up funding of any mortgage requiring Flood Insurance with the policy … (2 comments)

home: Rates should Hold this week for mortgages - 02/15/09 11:56 PM
This week’s data is expected to show us no surprises.We are paying much more attention to what the government’sinitiatives will be like as they unfold over the next several days and months. We are still expecting treasury prices to be hardpressed to make any significant improvements with all ourfunding needs. Mortgage rates are expected to remain withintheir recent range of about 5.0% to about 5.25%. THIS WEEK’S MARKET MOVERS Tues 2/17/09 8:30 Feb NY Empire State Index 9:00 Dec Net Foreign Purchases Wed 2/18/09 7:00 MBA Market Index 2/13 8:30 Jan Housing Starts 8:30 Jan Building Permits 8:30 Jan Import & … (0 comments)

home: NEWS FLASH, Stimulus bill restores Fannie, Freddie, FHA limits - 02/15/09 07:08 AM
NEWS FLASH, Stimulus bill restores Fannie, Freddie, FHA limits John Tuggle 15. February 2009 Stimulus bill restores Fannie, Freddie, FHA limits Congress today voted on a $790 billion economic stimulus bill that includes a modest expansion of a first-time homebuyer tax credit and restores to $729,750 the upper loan limit in high-cost areas for Fannie Mae, Freddie Mac and FHA loan guarantee programs. For more info please go to www.johntuggle.edicypages.com … (2 comments)

home: BREAKING NEWS: DOWN PAYMENT AID PROGRAM RESURFACING - 02/11/09 07:57 AM
I am working enthusiastically to create a groundswell of support in your community for H.R. 600 - FHA Seller-Financed Downpayment Reform Act of 2009 and downpayment assistance (DPA) reform. Breaking News: Down-payment aid program resurfacing In case you haven't seen the article in the February 7th edition of the Los Angeles Times, which speaks to H.R. 600's reforms that specify new standards for an effective program that will improve performance and not cost the taxpayers or the FHA insurance fund a dime. Read the entire Los Angeles Times article -------------------------------------------------------------------------------- Key Points of DPA Reform Congressional Budget Office (CBO) stated that … (0 comments)

home: Mortgage Rate Trends, Stimulus, Letter From Sen Johnny Isakson ref to Home Purchase Tax Credit - 02/11/09 02:46 AM
TODAYS RATE TRENDS<?
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One of the side effects of this government spending (for stimulus) is that we must borrow huge amounts of money to fund it.  This is putting pressure on interest rates that is unavoidable.  Mortgage rates are still historically very low although the much hoped for 4.5% is out of our vision for now and probably forever.  The 10 year note (the best gauge for long term rates) closed at its major support level (3%) Friday and hopefully will hold here.  This being said it is reasonable to expect the long term rates (mortgage rates) to float between … (0 comments)

 
John F Tuggle, Certified VA Expert Renovation Program Specialist (John Tuggle, Senior Mortgage Loan Originator, Envoy Mortgage, Ltd. )

John F Tuggle

Certified VA Expert Renovation Program Specialist

Columbus, GA

More about me…

John Tuggle, Senior Mortgage Loan Originator, Envoy Mortgage, Ltd.

Address: 5820 Veterans Parkway , Suite 309, Columbus, GA, 31904

Office: (706) 315-2365

Mobile: (706) 315-2365

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