David Fruge's (biggdave1) Blog

As many of you are aware, the mortgage industry has been going through some major changes in the last 6 months. Well, get ready for some more changes. In my honest opinion, many of the changes are for the worst. Sorry, but it's reality and we need to pay attention more than ever. I am going to li...

Attack on the record booksMichael Phelps went a perfect 8-for-8 in Beijing, breaking Mark Spitz's single-Games record for gold medals. He swam 17 times over nine days and broke the world record in four of his five individual swims. His three relay teams also set world marks. In his first final, o...

Choosing a Mortgage Company   When you are ready to shop for a loan, you can work directly with a lender or with a mortgage broker representing many individual lenders. Direct lenders are lending their own money, have in house programs and make the final decision on your application. Mortgage bro...

Refunds Ready on FHA Loans  If you have ever paid off a home loan backed by FHA, you may have money owed to you. And the government wants to pay you back. About 1 in 10 FHA borrowers leave money in their escrow accounts when they pay off their loans. The average refund for each borrower is about ...

A decline in mortgage bond prices is raising interest rates on U.S. home loans, even for borrowers least prone to default. Rates on average 30-year fixed mortgages rose to 6.37 percent this week, about the highest in six years, as yields on bonds guaranteed by Fannie Mae and Freddie Mac increased...

gas prices? Well could it be?  Are price really going to drop to $3.00 a gallon?  Most importantly are we going to get excited about it?  This time last year if someone had told you gas would be $3.00 per gallon you would have bet the farm they would be wrong.  Now look at us.... Actually ecited ...

OVERVIEW OF HOUSING REQUIREMENTS Must be in a rural area as determined by USDA Rural Development For new or existing site built single family homes, modular home, and approved condos Poor quality homes do not meet program objectives of providing decent, safe, and sanitary housing and are not eli...

Here's an explanation of how the new Housing Bill works for first time homebuyers:TAX CREDIT ($7,500) WORKS LIKE AN INTEREST FREE LOAN Purchasers can shave as much as $7,500 off their IRS bills, though it must be repaid.  Anyone who's been sitting on the sidelines hesitant to jump into the housin...