Credit Do’s and Don’ts if You Are Thinking of Buying a Home?

Fannie Mae is requiring more stringent reviews of loans from lenders so if you are going to be in the market for a home in the near future keep the following in mind: don’t incur any new debt, especially between the time you apply for the loan and the closing on your property; don’t apply […]

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Credit Do's and Don'ts if You Are Thinking of Buying a Home?

Fannie Mae is requiring more stringent reviews of loans from lenders so if you are going to be in the market for a home in the near future keep the following in mind: don’t incur any new debt, especially between the time you apply for the loan and the closing on your property; don’t apply […]

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Mortgage Applications Decline to Lowest Level Since April, 1997

Despite the decrease in interest rates since April 30 of this year, mortgage applications for home purchase are down to the lowest rates since April 11, 1997.  The decrease is largely due to the expiration of the First Time Home Buyers Tax Credit.

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Why Current Mortgage Market is Like the Diamond Trade

The main reason the current mortgage market is like the diamond trade is because the Fed’s current policy has been to create the market for mortgage backed securities.  The Fed agreed to spend $ 1.25 trillion through the first quarter of 2010 to purchase mortgage bonds, thereby keeping interest rates low and stimulating the housing […]

Buying, Investment Real Estate, Mortgage information
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The Difference between Cost vs. Price

Sellers and buyers of real estate often fixate on what the price of a property is and in doing so, lose sight of the more important factor, cost.  Price is what you get for the property if you are a seller and what you pay for it if you are a buyer.  However, what affects […]

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Mortgage Rates – How An Increase In Rates Affects Your Purchasing Power

I came across a great article that explains the effect of interest rates on your purchasing power so well, that I have to blog about it.  Now that inventories are decreasing and we are running into an April 30, 2010 deadline for tax credits, you have to read it if you have been on the […]

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7 Reasons to Buy Real Estate Now

Okay, you have been hearing that now is the time to buy a home, but maybe you are still unsure of why, when there is so much inventory on the market and so much insecurity in the economy.  Here are 7 specific reasons: Home Buyer Tax Credits – The Government is paying first-time home buyers […]

Buying, Foreclosures, Market Summary, Mortgage information
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Mortgage Rates Fall Slightly This Week

After rising for the past four weeks, long-term mortgage rates fell last week.  Freddie Mac reported 30- year fixed rate mortgages averaged around 5.09%, down from 5.14% last week.

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FHA Changing Approval Process of Existing Condo Projects

The following are some of the changes the FHA is making in how they process and accept loans in new and existing condo projects: The burden of approving a condominium project will shift from the FHA to the lenders Approved condo projects will need to be re-certified every 2 years Homeowner’s Associations will need to […]

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