TheTruthAboutMortgage.com reported a sneak peak on a new FHA loan that will serve the same purpose as the Fannie Refi Plus. In case you do not remember what the Refi Plus did, check out a previous … [Read more...]
Frisco Mortgage
Where do I go, to protest my property tax?
Don't forget that protesting your taxes is a way to hold accountability to your true value, and not overpay. With all the foreclosures and shortsales in our neighborhoods, protesting taxes may … [Read more...]
FHA Seller Contribution Change From 6% to 3% in 2010
In case you are not aware yet, FHA has made some changes recently. Some of these changes are effective today, and some are expected to be effective 'this Summer'. To view changes other than the … [Read more...]
Bernanke Ceases Buying of Mortgage Backed Securities, Expect Higher Rates Soon
Today on a Video Blog by ThinkBigWorkSmall, it was reported that on March 31st the Fed will temporarily quit the buying of mortgage backed securities, which has been credited for keeping our housing … [Read more...]
It’s Official…FHA Up Front Mortgage Insurance Increased
In a HUD Mortgage Letter I received today, David H. Stevens, Assistant Secretary for Housing-Federal Housing Commissioner issued the change for FHA Up Front Mortgage Insurance. So, effective for FHA … [Read more...]
Rates Fall 6 Straight Weeks, and Stay Under 5% for 2 Weeks Straight
Rates Remain Under 5% for 2nd Week In a Row (see last paragraph for mention of possible extension of Tax Credit again!) "The possibility of securing a mortgage rate below 5% has greatly improved in … [Read more...]
FHA Loses Fight to Increase Down Payment Requirement from 3.5% to 5%
Thanks to the NAMB (National Association of Mortgage Brokers), the fight to hold the minimum down payment for a FHA purchase at 3.5% instead of bumping it up to 5%, has been won. Today, the fight … [Read more...]
6 Easy Steps to Shop for Your Mortgage and Be Successful
After 8 years helping families find the right loan for their needs, I want to tell you how I would shop for a loan if I were no longer in the business. Please note, if a good deal to you in buying a … [Read more...]
You Are Referred to a Trusted Loan Officer…IT DON’T FEEL SO TRUSTY…thanks to New RESPA rules
Most Loan Officers, the ones that work outside the large call center type organizations, are entrepreneurial or self employed in nature. What I mean by that, for this message, we do not have a huge … [Read more...]
Policy Changes With FHA Guidelines for Underwriting…Will It affect first time buyers?
Have we reached the top of the "mountain" in regards to tightening of underwriting guidelines in the mortgage industry in hopes to reconstruct, and specifically speaking, in FHA lending, so we can … [Read more...]
