Archive for the 'Mortgage News' Category
FHA Announces Policy Changes That Tighten Loan Standards
January 22nd, 2010 categories: Mortgage News
In an announcement Jan 20, the FHA disclosed changes to their policies that will affect consumers ability to qualify and obtain an FHA Mortgage. Here is a brief summary of the changes: Read the rest of this entry »
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Congress Set To Vote on First Time Home Buyer Tax Credit Extension
October 27th, 2009 categories: Mortgage News, Real Estate News
In a story posted by Bloomberg, it looks like the real estate market could get a continued boost from first time home buyers as Congress looks to extend the tax credit from Nov 30 until sometime next year.
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What will a foreclosure, shortsale or bankruptcy do to my credit?
October 2nd, 2009 categories: Mortgage News
I have been asked this question many times in the last couple of years. Clark Howard just posted a link about the subject and I thought everyone should see it.
So here you go http://clarkhoward.com/liveweb/shownotes/2009/10/02/16788/
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What’s a reverse mortgage…glad you asked.
August 6th, 2009 categories: Mortgage News
Consumer advocate Clark Howard has saved me thousands of dollars over the last 20 years with his sage advice so when I hear him recommend a useful site or link regarding real estate I want to pass it along. Clark says that Read the rest of this entry »
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Lender Taylor, Bean & Whitaker Closes Doors…Check Your FHA Loan Source
August 6th, 2009 categories: Mortgage News, Special Announcements
Many home buyers will be unexpectedly scrambling for new financing as Taylor, Bean and Whitaker suddenly closes it’s doors and ceases all loan origination operations. Buyers and their agents, especially those using FHA financing, Read the rest of this entry »
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Why New Government Lending Regulations Could Affect Your Closing Date.
July 27th, 2009 categories: Mortgage News, Special Announcements
On July 30, 2009, the new Housing and Economic Recovery Act (HERA) laws will go into effect. They require all mortgage lenders and mortgage brokers to help prevent deceptive lending practices and protect customers by helping them become more informed. Here is a basic summary of how it could affect future closings… Read the rest of this entry »
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Congress Hammers Senator Isakson’s Homebuyer Tax Credit Amendment
February 13th, 2009 categories: Mortgage News, Real Estate News
Just when I think someone has done something that may really stimulate the housing market the revised bill comes out from negotiations between the House and Senate with a mere shadow of the amendment proposed by Senator Isakson. According to the LA Times Blog the $15,000 tax credit has been reduced Read the rest of this entry »
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Buyers…What You Need To Know About Metro Atlanta FHA Loan Limits
November 14th, 2008 categories: Mortgage News
Just a note here to let you Buyers know your FHA loan limits for metro-Atlanta will be reduced from $346,250 to $320,850. These new limits go into effect for credit approvals issued on or after January 1, 2009.
This means that if you want to buy now, and lock in your loan approval prior to the end of the year, you can get over $25,000 more home with the current FHA loan limits. With so many great opportunities in the market right now…..and the uncertain future of the credit market…now is a great time to invest in a home using this financing method.
We just found a great opportunity for a Buyer yesterday. We were able to negotiate an additional 10% net off the already attractive list price of a great home for this first time home buyer and his lender will be able to bring his FHA closing package to the table in time for his family to enjoy Thanksgiving in his new home.
There is still time for you to take advantage of this great opportunity to RESPONSIBLY buy a home before the end of the year. Contact our team today to get the professional advice you need in order to make an informed, intelligent decision about your next home purchase.
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Ouch…Feds Take Control Of Mortgage Lender IndyMac Bank
July 12th, 2008 categories: Mortgage News, Real Estate News
According to this report , IndyMac is the largest regulated thrift to close its doors in US history. Those of you that are on the fence about when to get financing to purchase a home in the near future need to view this as a sign that sooner is better than later. Every time something like this happens it tightens lending requirements and reduces mortgage options for consumers. If you need to buy a home in the next 30 days we suggest Read the rest of this entry »
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