Need Mortgage Help?
1-707-478-0637
Fast Mortgage Rate Quotes

Category | Foreclosure

FHA News: Mortgage Insurance to increase

FHA NEWS As of April 18th, 2011 FHA will once again be INCREASING their monthly mortgage insurance premiums. What this will look like in $ Example: $400,000 loan, less than 5% down, 30 year loan Current monthly Mortgage Insurance: $300 New April 18th monthly Mortgage Insurance : $366.67 That is over a 20% increase! That [...]

Read The Full Post »

The deal with 2nd approvals

Why certain properties require a 2nd approval by the sellers preferred lender: 1) If it is a bank foreclosure asking you to qualify through their bank, They are requiring this because: A) They want one of their people to check you out to make sure you are really qualified.  Sadly, a large percentage of  pre qualification [...]

Read The Full Post »

Struggling with your mortgage? Start here

Remember those interactive stories where your answers alter the story and affect the ending?  Well, apparently marketing at Fannie Mae is really into them.  Fannie Mae has created a new interactive video where you control the outcome of the story based on your answers.  It basically lets you role play through your financial situation.  I played [...]

Read The Full Post »

5 2011 Predictions; Crystal Ball edition

The last few years have been a roller coaster for everyone in the real estate market.  Expect: 1) An emotional yet controlled recovery:  The emotional aspect:  If you read the business section you can see the view on the recovery swing rapidly from day to day.  On Monday we are recovering and on Tuesday the market [...]

Read The Full Post »

A Home should not be a burden; The “Conservative” view

It was recently brought to my attention that I was “conservative.”  I have been conservative for the better part of my life.  I am proud to be conservative.  I am intrigued by those who are free spirited and do not worry about the future but I have always been a gal with a plan. I know [...]

Read The Full Post »

3 Reasons this is the ultimate buyers market

1) Rates are at historic lows.  Borrowers with as little as 3.5% down are getting rates in the very low 4′s on 30 year fixed loans! 2) Foreclosure land.  For those of us who already own homes the heap of foreclosures is a real drag but for buyers this is the ultimate market.  Prices are [...]

Read The Full Post »

FHA loan update; Need 640 credit score for most lenders

In the past few weeks we have seen one bank after another raise their minimum credit score on FHA to 640. Two weeks ago we had 7 main lenders that would allow 620 credit scores.  Today = zero   Why are lenders tighten up while the economy is recovering (as per some media reports)? Welcome to [...]

Read The Full Post »

FHA VS Homepath

Homepath Vs FHA

Read The Full Post »

Mortgage Rates