David's Blog

Free government money is not something to be looked upon lightly!No down payment USDA loans not only save you the upfront costs of house ownership, but you also gain the tax benefits of a mortgage and begin to build wealth through equity. The government, through the USDA, has dedicated itself to ...

Here is the official clarification on the tax liabilities from the shortsale of a primary residence. ** Note that 2nd homes and investment properties are not exempt   http://www.irs.gov/irs/article/0,,id=179073,00.htm Mortgage Workouts, Now Tax-Free for Many Homeowners; Claim Relief on Newly-Revi...

    As of the time of this post, the new Housing Bill has only passed the senate and has not been signed into law.  Many of you have seen blips about it in the media, some of you have probably even taken the time to read some of the 20 page summaries that explain how this is really about bailing ...

Endless myths and misconceptions about the factors affecting credit scores are as abundant and varied as the scores themselves. This post will help you to separate fact from fiction.   Most loan officers, (and probably a lot of sharp agents out there,too!) already know the answers to these questi...

  JPMorgan Chase & Co., Wells Fargo & Co., Washington Mutual Inc. ,Countrywide Financial Corp, Bank of America Corp., and Citigroup Inc. announced new steps to help borrowers in danger of foreclosure save  their homes. The banks offer a 30-day freeze on some foreclosures to consider loan modifica...

Conforming Loan Limits To Increase Since August 2007 non-conforming or jumbo loans have been priced significantly higher than they have been in the past due to "liquidity issues".  The House and Senate voted to increase the conforming limit to 125% of the median home price in all market areas, an...

 I think this is a perfect time to post this video.  I'm sure that we all have clients or know people who are running around out there spending money that they don't have to buy Christmas presents.  Enjoy!

2008 CONFORMING LOAN LIMIT $417,000  Washington, DC - Office of Federal Housing Enterprise Oversight Director James B. Lockhart today announced the maximum 2008 conforming loan limit for single-family mortgages purchased by Fannie Mae and Freddie Mac (the Enterprises) will remain at the 2007 leve...

 New Bill Would Repeal Home Mortgage Exception During Bankruptcyhttp://www.housingwire.com/2007/09/21/new-bill-would-repeal-home-mortgage-exception-during-bankruptcy/ Great Article By Paul Jackson:  Check out www.housingwire.com for this and other housing industry informationA new bill introduced...

 This helpful email was a forward from Mortgage Mastery. Ok, this is going to be a long one, but please don't get glassy eyed :).   This is important and will affect your closings (for the good)! IMPORTANT FHA NEWS!The Senate Banking Committee passed by a vote of 21-1 the FHA modernization legisl...