Reblogger Charles Stallions
Real Estate Broker/Owner with Charles Stallions Real Estate Services

IS the Obama administration just WACKO or is it this obvious how much he is against HOUSING. When is the last time he has even brought up housing and what he will do to fix it. President Fiddler has played the HARP not once but twice and people are worse off then ever.

Call it what you will but if the most powerful person in the world cannot fix something as simple as housing then how stupid was I to think he could fix HEALTH CARE. www.pensacolahomesource.com

Would you like information on buying or selling Foreclosures / Short sales CLICK HERE or Search All Pensacola, Pace and Gulf Breeze Area MLS Listings CLICK HERE for Rentals and Homes For Sale.

Sellers Flat Fee of $2995 when one of our agents sells your home or if you want MLS (where you home is available for all Real Estate Agents to sell) then the best program TODAY is $1495 to us +3 % offered to Buyers Agent for bringing the buyer.  When you understand how agents work you will clearly see why we sell 94% of our homes at or above asking price and why REAL ESTATE AGENTS would rather sell our homes than anyone else’s. The Real Estate Agent gets paid more and the seller saves over 63% on average.

Property Management for $50 Flat fee monthly

THOUSANDS OF HOMES.... One Address www.charlesstallions.com

Charles Stallions, CRS, CSP, CBR, CDPS, SREE, EREI - 800-309-3414

Charles is a Real Estate Investor of 25 years, a Real Estate Broker for 15 years while holding several degrees in management, an expert in the buying and selling of real estate. Whether you’re buying your first home, second home, vacation home, investing in rentals, a kiddie condo for college or your dream home, buying any home is an investment in the future and you owe it to yourself to have Charles’s expertise to buy right and make the right decisions for YOU. For over the phone evaluation and NO Obligation CALL NOW! you have OPTIONS, we have FACTS, let’s TALK

Original content by Dora Griffin NMLS 6380


Changes were announced last week for HARP II (Home Affordable Refinance). I am including a link to the FannieMae website. It details the changes and has a Q&A section that is worth bookmarking. Many of us will need to refer to it frequently.

How will the HARP II changes affect those seeking to refinance a home mortgage?  

There are several changes, some won't go into effect right away, and as always, it will vary somewhat from lender to lender.

For instance, a big change is lifting the limit on the LTV (loan to value) of the property. The first mortgage was limited to 105% LTV on HARP I. On the downside this change is not widely available until March 2012.

Current servicers will have the ability to do manual underwrites vs using automated underwriting.

The onerous LLPA's (loan level price adjustments) are a little less onerous with this change. The good news is that this goes into effect immediately. For instance the credit adjustment for a score of 620 was 3 POINTS prior to this change. Those with better scores won't see as much improvement, but those with lower scores will see the maximum for this adjustment .750%.

Total LLPA is limited to 2 points now. The LLPA changes will allow more people to refinance. Previously by the time the LLPA's were calculated it simply was too costly to justify a refinance. I will be going back through my refinance opportunities for Northern Kentucky to see if some are now more doable.

If I had a genie lamp and my wish(es), I would have wished for no loan level price adjustments if the loan received automated approval and I would wish any secondary mortgages be automatically subordinated, Period!  For now, we have somewhat of an improvement. Check out the changes and all 100 Q&A's below.

For now, we'll see  how this unfolds, what lenders will acutally do with it, etc. Anyone who has considered refinancing previously and determined it was not worthwhile, just may want to check in again to see how things have changed for them.



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Charles Stallions Property Manager
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

What a great post - thanks for sharing.  i really enjoyed reading.  i think it will take a long time to get these thoughts out of our buyers minds.  The buyers really need to trust and listen to the professionals that are out in the market every single day.  Thank you! :)

Oct 18, 2013 01:56 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Charles Stallions

800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
Got a question? Just Ask Me
Spam prevention

Additional Information