Blog Archives

Frist Time Homebuyers Credit Extended – Repeat Buyer Tax Credit Passed

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

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

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

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

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

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FHA Reserves to Drop Below 2%, Will See Tighter Restrictions

According to a  Washington Post  article yesterday, when the new audit report comes out in the next 2 weeks, it will show the FHA (Federal Housing Administration) reserves have fallen below 2%, which is their legally mandated minimum. FHA guarantees

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HUD Announces $8000 Tax Credit Can go to Closing Cost, etc.

In a zippy, an unexpected twist, HUD announced today the $8000 tax credit can be used as a bridge loan to help cover closing costs as well as an addition to the 3.5 % required down payment.  First time homebuyers

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New Rules for Appraisals in Effect – What HVCC Means for the Lake Powell Real Estate Market

HVCC , the Home Valuation Code of Conduct, has recently gone in to effect. The thought behind this, as far as I can tell, is to protect the consumer from lenders, Realtors and appraisers working together to set a price

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Another View of the $8,000 First Time Homebuyers Credit

For background see Clues to the $8,000 Homebuyers Credit I was chatting with some friends this morning and the subject of the new $8,000 homebuyers tax credit came up. I was asked to give a real life example of my

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Posted in Mortgage News, Uncategorized

New Plan to Help 9 Million Homeowners Stay Out of Foreclosure

This morning the federal government released a new plan aimed at lowering mortgage rates as well as monthly payments in a effort to stem the bleeding in the housing market. The new plan is aptly named the “Making Home Affordable”

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It Is Law Now, But What Is It? Clues to the $8,000 Home Buyers Tax Credit.

A couple of weeks ago I wrote a post about the proposed $15,000 home buyer credit. The credit was scaled back and by the time the stimulus package passed Congress it was the $8,000 home buyer credit. Last year, in

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$15,000 Home Buyer Credit Passes Senate for ANY Buyer

Making heads or tails of the economic recovery wrangling going on in Congress is difficult. There seems to be an abundance of nebulous terms and descriptions floating around that really don’t state specifics. I’ve read some of it but news

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