FHA Losses: What it Means
Thursday, November 19
What Do They Do FHA loan options make it easier to qualify for a home mortgage. Your loan is guaranteed by the government, making your application more attractive to lenders. The FHA mortgage requires a low 3.5% down payment, and that money can come from a variety o...
Fannie Mae Allows renters to Stay in Foreclosed Homes
Thursday, November 19
A National Crises There was so much interest in this new Fannie program that I dug a little deeper and wanted to share some of this. The problem is that many renters who pay rent on time are finding themselves under eviction, because their landlord has lost his property. Its m...
Fannie Mae Gets Into The Home Rental Business
Saturday, November 14
Good News for foreclosure victims Some homeowners will get an option to rent the home that they just lost. Its possible to stay in your home as a renter. Fannie Mae will give borrowers facing foreclosure an option to rent their homes for a year. Foreclosed home owners will be able to sign a one...
Obama Extends the Home Buyers Tax Credit
Saturday, November 14
The home buyers' tax credit has been extended to April 30, 2010. Obama approved the extension as part of a $24 billion economic stimulus bill. The housing tax credit Qualifyers The measure limits the purchase price of the home to $800,000. It also impos...
NAR Report Third Quarter
Saturday, November 14
Sales Up Prices Down This same story has been playing our for quite a while now. The trend towards lower prices will probably continue even as the recession winds down. Continuing job loss, a weak recovery and real problems in all real estate sectors, now focused on comme...
Freddie Mac weekly Update
Saturday, November 07
30-year fixed-rate mortgage: Averaged 4.98 percent with an average 0.7 point for the week ending November 5, 2009, down from last week when it averaged 5.03 percent. Last year at this time, the 30-year FRM averaged 6.20 percent The 15-year fixed-rate mortgage: Averaged 4.40 percent with an averag...