NEEDS DOCUMENTATION LIST FOR YOUR TRANSACTION Fannie Mae and Freddie Mac are the governing bodies of home loans in American, and any loan originated through an FDIC related lending … [Read more...]
Purchase Frisco Home With Seller Buydown Mortgage
With the emergence of the foreclosure and short sale market, it has become a norm for buyers to enter into a negotiation with a seller on what might have been known as three or more years ago as a low … [Read more...]
Chapter 13 Bankrutpcy vs Chapter 7 Bankruptcy
There is a difference in the type of Bankruptcy one person may have entered into compared to the next, and if you were in a Chapter 13 BK rather than the Chapter 7 variety, you might find that the … [Read more...]
New FHA Program for Refinancing With High Loan To Value
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...]
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...]
203K Rehab to Purchase a Fixer Upper or Help List Your Fixer Upper
Frisco and the Surrounding Collin County home buyers should look into the FHA 203K home loan when trying to buy that short-sale or foreclosure...refinances are elgible too!!! When trying to establish … [Read more...]
First 15 Banks That HUD Accounts for High Claims Rate for FHA Loans
Yesterday, The Truth About Mortgage lists the first 15 Banks in America that have received a subpoena for a high claims rate on their FHA mortgages. These banks were recognized first because of their … [Read more...]
Extend Home Buyer Tax Credit of $8,000 for Frisco Home Buyers
The question I see as a mortgage person in Frisco Texas a lot this year is, "Do I think that the first time Home Buyer Tax Credit will be extended to 2010." My response is, "I sure should be", because … [Read more...]
August Mortgage Rates Starting to Hike…Mortgage Trend Last Couple Months
In July, the national average for the 30 year fixed mortgage at one point got as low as 5.25%. Please note, from my long experience in this industry, I'm not sure where the national average is derived … [Read more...]
