"It's not rocket science!"

* Homeowners tax credit- Every year when a borrower receives their mortgage statement from your mortgage company for tax purposes there would be a box that was checked Yes or No. If no mortgage payments were made late(30 days) that year, the borrower would receive a tax credit of up to $5000. Up to, because if you only paid in $3000 that is the max you could claim. No refund on taxes you did not pay.

This credit would continue for 5 years, making it $25,000 if you paid your mortgage on time.

* FHA insured loans have no ceiling. You can either get a loan or not. FHA down payments are now 5% and seller contribution is a required 3% minimum. Debt to income ceiling is 42% no exceptions. Investors can buy as many as they want and qualify for under the terms listed as well. FHA loans will be capped at 5% APR for 35 years. The rate for an FHA issued loan is 5% to the borrower period. No more up and down daily fluctuations. Lenders will receive a 1% loan origination fee and no more than $400 in warehouse or other fees can be added.

* All homes not sold by a licensed Real Estate Agent (FSBO), will be assessed a 5 % charge for handling and stupidity. (Same if you did brain surgery on yourself, but that's a medical deal for later)

* All current mortgages that are behind will be given a 45 day grace period and recalculated to start over on the 1^st of the next month following the 45 days. A one page statement of loan agreement change will be issued and if not signed and returned, immediate foreclosure will begin.

* All foreclosed property must be sold in 120 days and must be listed by an agent and closed in the county in which it is in. All state promulgated forms and contracts must be used. No exceptions! Asset companies must be in the county in which the property lies. It is permissible to use a licensed real estate agent as an asset manager. All commissions are 6% spilt between selling and buying agents equally. All closing costs for both parties are to be paid by the lender who is foreclosing. No negotiation of commission or rebate of commission is allowed. Any lender trying to do so, will be fined 10% of the sales price of the property.

* Contracts close on the date indicated. If the lender accepted the contract he must close on time. The contract is considered accepted after a 72 hour receipted discovery period. During this time the applicant must furnish all documents required. At the end of the 72 hour period, unless rejected at this point, the loan is approved, period. The lender cannot ask for additional documents after this time. Additionally, all loans must close within a 28 day period starting after discovery. A lender who fails to comply will incur a $1000 a day fine and additionally, after the 4^th day cut the borrowers rate buy ½ of 1 percentage point. All underwriting shall be done in house by all lenders.

* All appraisals shall be done by a licensed appraiser familiar with the county in which the property is located. Just as over evaluation is considered a crime, undervaluing a property will lead too a 2 year suspension of an appraisers license. An appraiser shall not be given a copy of the contract, the value of the property is to be determined on area comps and general market knowledge, not trying to hit a mark set by a contract price.