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Mortgage and Lending
Your Trusted Lender for Purchases, Refinances, and Reverse Mortgages in ALL 50 STATES.
RECENT BLOG POSTS
Unlike the stock market, it's hard for the average person to know when the mortgage bond market is getting turned upside-down.  Looking at the past few weeks, mortgage rates have been very volatile, going up, down, and then up again. Usually the mortgage bond market moves in the opposite directi...
10/28/2008
Why are FHA Loans back in business after so many years of being on the back burner? Bottom Line:  It's one of the most flexible mortgage loan programs still standing amongst the smoke of the Mortgage/Banking/Financial Meltdown. Besides 3 hours of state approved continuing education, from this Clo...
10/01/2008
Private mortgage insurance (PMI) protects the mortgage lender if a homeowner defaults.  PMI allows the lender recover some of its costs and losses after foreclosing and selling a repossessed home. PMI rates vary by loan type, loan size, and loan characteristics.  The higher the risk to the bank, ...
09/30/2008
A few weeks ago, I came across an Active Rain post from a very nice Realtor named Debra Brooks from Huntsville, TX who was very upset with the lender on a purchase transaction. Yes, it was another one of those infamous 11th hour loans blowing up again as I mentioned in one of my previous posts ti...
09/19/2008
Let's not be too quick to schedule the funeral for Down Payment Assistance (DPA) programs such as Nehemiah yet. HR 6694, the last-ditch effort to resurrect DPA programs before the October 1st deadline after which these programs will no longer be allowed by FHA, appears to have the support of HUD ...
09/10/2008
"Yes! We were finally approved for our loan and we are on our way to realizing the American Dream of homeownership. Let's celebrate by going to Las Vegas before we close on our loan. Remember: 'What happens in Vegas, stays in Vegas.'" Whoa! Let's slow down, here. If you want to make sure that you...
09/05/2008
I am sure many of us have seen scenarios where buyers and sellers have moving trucks packed and people literally sleeping on couches or even on the floor waiting for a loan to fund and then for everything to blow up at the last minute?....AAARRGGGGGHHH!!!! Often times, I have had deals brought to...
09/01/2008
FHA has sent a notice to the Federal Register regarding the moratorium on risk-based pricing on upfront mortgage insurance. You may view it here. Although we already knew about this moratorium when the Housing and Economic Recovery Act (HR 3221) was signed into law on July 30, 2008, FHA is finall...
08/27/2008
With so many changes in the mortgage industry (sometimes on a weekly basis), it may seem difficult to stay on top of the latest guidelines. To give you an update on the current "No-Down" options, here is a list of the main options available: House America Program, My Community Program, or Flexibl...
08/24/2008
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