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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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Posted in Mortgage News

Time Running Out for the $8,000 Homebuyers Tax Credit

While the deadline for the $8,000 First Time Homebuyers Tax Credit is November 30, 2009 we need to look at that date for a minute. Thanksgiving Holiday is the weekend before the 30th, so the actual deadline we are shooting

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Posted in Lake Powell Real Estate

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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Posted in Mortgage News