An FHA 203K Loan Makes Financing Lender Required Repairs Simple
The FHA 203K loan is a type of financing that is insured by the Federal Housing Administration. It is a unique type of financing that allows homeowners to obtain both a purchase loan and rehabilitation financing in the same transaction. Before this transcendent loan program, a homeowner had to obtain an initial, temporary loan to purchase the home and a separate rehabilitation home loan to make any necessary repairs. Only after the repairs were complete could the homeowner gain permanent financing for their newly improved home. FHA 203K: How does it work? The FHA 203K loan was designed to streamline the process ...
Our Mortgage Advice for the Week of May 24th
Present Market Conditions “Mortgage rates last week were the lowest this year. Rates on 30-year fixed loans were not this low since the week of December 20, 2009, and 15-year fixed mortgages hit an all-time record since data began in August 1991” stated Frank Nothaft, chief economist for Freddie Mac. He continued by saying “In addition, rates on 5/1 hybrid ARMs broke a second consecutive record low last week since the survey started collecting them in January 2005 and traditional 1-year ARM were the lowest since November 4, 2004.” Expectations This week is shaping ...
Should you pay your mortgage or just walk away?
Without a doubt the toughest decisions you will make as a homeowner if you've lost your job...or seen your values wiped out by a wave of neighborhood foreclosures.... is whether to keep on paying your mortgage....or not. Here are two articles that highlight this very issue. Let me know what your thoughts are. http://www.housingwatch.com/2010/01/25/the-new-mortgage-revolution-walk-away/ http://online.wsj.com/article/SB126100260600594531.html?mod=WSJ_newsreel_realEstate
U.S. is going to look to foreign investors to help fund our housing market
As the U.S. housing market boomed in the past decade and fueled a bull market in mortgage investments, Norway's government-owned fund went along for the ride -- and the fall. And now that the Fed is set to back away from buying mortgage backed securities we could be in for some bumpy times in the very near future. Here's a link to an excellent article written by Howard Schneider. It appears in today's Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2010/02/15/AR2010021503143.html?hpid=topnews&sid=ST2010021602611
The Fed support for low mortgage rates is set to end…..
For more than a year, the government pulled out the stops to revive home buying by driving down mortgage rates. Now, whether the housing market is ready or not, the government is pulling out. The wind-down of federal support for mortgage rates, set to end in two months, is a momentous test of whether the Obama administration and the Federal Reserve have succeeded in jump-starting the housing market and ensuring it can hold its own. The stakes for the economy are massive: If the market again falls into a tailspin, homeowners could face another wave of trouble, and it would deal a ...
Mortgage News
An FHA 203K Loan Makes Financing Lender Required Repairs Simple
The FHA 203K loan is a type of financing that is insured by the Federal Housing Administration....
Our Mortgage Advice for the Week of May 24th
Present Market Conditions “Mortgage rates last week were the lowest this year....
The Fed support for low mortgage rates is set to end…..
For more than a year, the government pulled out the stops to revive home buying by...
Read More Posts From Mortgage News
Real Estate News
Should you pay your mortgage or just walk away?
Without a doubt the toughest decisions you will make as a homeowner if you’ve...
U.S. is going to look to foreign investors to help fund our housing market
As the U.S. housing market boomed in the past decade and fueled a bull market in...
The Fed support for low mortgage rates is set to end…..
For more than a year, the government pulled out the stops to revive home buying by...
Read More Posts From Real Estate News
Featured Content
An FHA 203K Loan Makes Financing Lender Required Repairs Simple
The FHA 203K loan is a type of financing that is insured by the Federal Housing Administration. It is a unique type of financing that allows homeowners to obtain both a purchase loan and rehabilitation financing in the same transaction. Before this transcendent loan program, a homeowner had to obtain an initial, temporary loan to purchase the home and... [Read more of this review]
Our Mortgage Advice for the Week of May 24th
Present Market Conditions “Mortgage rates last week were the lowest this year. Rates on 30-year fixed loans were not this low since the week of December 20, 2009, and 15-year fixed mortgages hit an all-time record since data began in August 1991” stated Frank Nothaft, chief economist for Freddie Mac. He continued by saying “In addition, rates... [Read more of this review]
Should you pay your mortgage or just walk away?
Without a doubt the toughest decisions you will make as a homeowner if you’ve lost your job…or seen your values wiped out by a wave of neighborhood foreclosures…. is whether to keep on paying your mortgage….or not. Here are two articles that highlight this very issue. Let me know what your thoughts are. http://www.housingwatch.com/2010/01/25/the-new-mortgage-revolution-walk-away/ http://online.wsj.com/article/SB126100260600594531.html?mod=WSJ_newsreel_realEstate Read More →
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