FHA Mortgage Insurance Premiums change next week

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Posted on 29 Sep, 2010 by
FHA Mortgage Insurance Premiums change next week
With the premiums for FHA mortgage insurance set to rise next week and seller concession policies changing shortly thereafter, at gut check response, it may seem as if the government is taking steps to slow the purchasing trend for new homeowners.  However, this may not be the case. http://finance.yahoo.com/news/Is-Government-About-to-Make-cnbc-4202459553.html?x=0&sec=topStories&pos=main&asset=&ccode= It really breaks down to understanding what’s happening with the raw numbers of a new loan.  First – You will
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National Stats / Local Stats, Don’t be a Statistic

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Posted on 17 Sep, 2010 by
National Stats / Local Stats, Don’t be a Statistic
National foreclosure activity rose again in August, just over 4%, and Bank reposessions increased 3% from the month before, which is an all-time high.  According to this CNBC article and RealtyTrac, “There is a buildup in delinquent loans that are not in foreclosure, which means that banks and lenders are slowing the process to avoid a drop in home prices.  It’s a managed slowdown more than anything else.” http://www.cnbc.com/id/39192246/
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Next Stop…Debt Free

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Posted on 8 Sep, 2010 by
Next Stop…Debt Free
I had a conversation recently with a friend of mine regarding his property situation to try and gain perspective on his course of action.  He purchased a few properties a while ago, was holding them as investment properties, and had been doing quite well with keeping his tenants in place.  As leases ran out, and had some difficulty finding new tenants at a price point that would cover the
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Buyers – Come out, Come out, Wherever you are…

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Posted on 12 Aug, 2010 by
Buyers – Come out, Come out, Wherever you are…
Again, the headlines read:  30-year mortgage at lowest rate since 1971 But wait, we might have to blog again next week that that the 30 year mortgage rate is at it’s lowest since…1960.  1960 was the year where the home ownership rate was as low as it is today.  The ultimate question for this statistic is how much total inventory is on the market today vs. 1960.  Staggering numbers. http://www.usatoday.com/money/economy/housing/2010-08-02-1Ahomeowners02_ST_N.htm?csp=hf&loc=interstitialskip
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Loan Modification – To Be or Not to Be: That is the question

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Posted on 19 Jul, 2010 by
Loan Modification – To Be or Not to Be: That is the question
Whether ‘tis nobler in the mind to suffer the slings and arrows of outrageous fortune or to take arms against a sea of troubles… We are all aware of the Shakespeare play Hamlet that discusses the internal battles of suffering, but isn’t this exactly what’s happening through the Loan Modification process? Your mortgage lender asks you to submit all this paperwork in order to get the Loan Modification process,
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