6/3/2009 7:34:00 PM
FHA to Allow First Time Buyers Credity Advance
The first-time homebuyer tax credit just keeps getting better. The credit was increased to $8,000 this year and no longer has to be paid back. Now HUD has said that it will allow the credit to be advanced to FHA purchasers for use toward a downpayment via ...
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6/3/2009 7:31:00 PM
Borrowers with Second Liens May Get Help
T he Treasury Department has announced an expansion of its Making Home Affordable Program aimed at encouraging loan modifications for struggling homeowners with second liens. The original version of the program did not address situations where homeowners had ...
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6/3/2009 7:24:00 PM
Mid-Year Mortgage Overview
I t might have better to have titled this article “Condos for Cash,” since it seems that all-cash might be the only guaranteed way to purchase a condo today. Simply put, if you are interested in buying a condominium in today’s market, be ...
Views: 98
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6/3/2009 7:20:00 PM
New Appraisal Rules Not Without Flaws
T here’s a new sheriff in appraisal town and the name is HVCC. Not to be confused with HVAC (that’s your heating, ventilation and air conditioning system), HVCC stands for Home Valuation Code of Conduct. The HVCC, which was implemented May 1 by ...
Views: 62
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2/28/2009 5:32:00 PM
FICO ’08 LAUNCHED
Fair Isaac Corporation is finally rolling out the latest remake of its FICO credit score , which is the scoring standard for mortgage lenders. Yes, it has taken until 2009 to get FICO ‘08 launched, and even now many consumers, potential homeborrowers ...
Views: 149
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2/28/2009 5:28:00 PM
FIRST-TIME HOMEBUYER CREDIT EXPANDED
T he economic stimulus bill just signed into law contains two major items for 2009 homebuyers. The measure increases the first-time homebuyer tax credit to $8,000 and does away with its onerous repayment requirement. It also reinstates the 2008 loan limits ...
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2/28/2009 5:23:00 PM
THE SPRING 2009 MORTGAGE OVERVIEW
W ill the lower mortgage rates we have seen so far in 2009 help to lift the housing market this spring? There have been several positive market developments recently, lower rates among them, but whether these positives finally have enough power to jump start ...
Views: 95
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2/28/2009 5:19:00 PM
Should You Pay Down Your Mortgage
I n the old days (much of the last century), many people stayed in their homes for 30+ years, long enough to pay off their mortgages and live mortgage-free ever after. In the more recent past, mortgages became transient instruments, remaining in existence ...
Views: 86
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2/28/2009 5:06:00 PM
The Spring Housing Market Outlook
T he spring housing market is usually greeted with eagerness and enthusiasm by home sellers and buyers, Realtors and mortgage professionals. This year, though, it is being met with, well…hope. While there are still plenty of negatives, a sour economy ...
Views: 91
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2/28/2009 5:06:00 PM
Outlook for Spring
T he spring housing market is usually greeted with eagerness and enthusiasm by home sellers and buyers, Realtors and mortgage professionals. This year, though, it is being met with, well…hope. While there are still plenty of negatives, a sour economy ...
Views: 57
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