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    Archive for the 'Mortgage News' Category

    FHA Tightens Some Parts of Loan Requirements, Leaves Others Alone

    Wednesday, January 20th, 2010

    FHA, which insures close to 6 million loans in our country, is tightening some standards, while leaving others alone. Several months ago the FHA reserves, which congress has mandated to be 2%, fell lower than .5% due largely to delinquent and defaulted mortgages.
    One of the items not being affected is how much down payment a […]

    First Time Homebuyers $8,000 Tax Credit - New Form and Some Delays

    Saturday, January 16th, 2010

    The First Time Homebuyers Tax Credit was extended and expanded on November 6, 2009 as it was set to expire on November 30, 2009.  On November 24th I wrote a post about how to claim the credit  stating when the IRS released the new form to file for homes purchased after November 6th, when the […]

    Start Your New Year Right - Find Out What Is On Your Credit Report

    Saturday, January 2nd, 2010

    A survey by Public Interest Research Group found that 79 percent of credit reports contained an error, with 25 percent having a serious error that would disqualify the consumer from buying a house, opening an account, or getting a job (Source: Associated Press)
    Most people are surprised the first time they see their credit report with the sheer amount […]

    More Information on the $8000 Homebuyers Tax Credit - How to Claim the Credit

    Tuesday, November 24th, 2009

    Update Jane 15, 2010: IRS Release From to Claim Credit for 2010.
    It is almost tax time and with the extension of the first time homebuyers tax credit, along with the addition on the move up credit, the questions are flying.
    Realtor.org has an entire section devoted to these two credits and anyone with serious questions […]

    Frist Time Homebuyers Credit Extended - Repeat Buyer Tax Credit Passed

    Sunday, November 8th, 2009

    UPDATE: President Obama signed the extension on the 9th of November
    ***********************
    Look for President Obama to sign the First Time Homebuyers Tax Credit Extension with an added Repeat Buyer Tax Credit provision on December 1, 2009.
    There are several changes in the new tax credit law but the highlights are:
    Repeat buyers can qualify for a $6,500 credit […]

    Current FHA Loan? Thinking of Re-fi? NOW is the Time

    Thursday, October 8th, 2009

    If you have a current FHA loan and have been thinking of looking at a re-fi, now would be the time.
    On November 17, 2009, new, much stricter guidelines go in to effect for those wanting to take advange of the FHA Streamline re-financing program. Meant to help lower monthly housing costs for folks in good […]

    Before Shopping for a Lake Powell Home For Sale - Financially Speaking

    Sunday, September 27th, 2009

    The process of purchasing a home can be long and full of twists and turns. Of course, having a Realtor help you through the process can help you avoid some of the pitfalls and potholes. That said……..
    One of the first things that needs to be accomplished is finding out how much of a home you […]