RECENT BLOG POSTS
You hear plenty of talk from NAR (National Association of Realtors) and the NAHB (National Association of Home Builders) regarding the push to extend the First Time Buyer Tax Credit, but what is really going on with it? There is little argument the program has been successful in spurring sales an...
09/24/2009
A great friend and colleague in NJ wrote this, and it so needs to be shared. With so much talk about the First Time Buyer Tax Credit, and if it may be extended or not, it's good to know what's at stake if you decide to wait. As for myself, I agree with Jeff Belonger below that waiting is foolish....
09/09/2009
On July 30, 2009 the rules changed- are you ready? The MDIA is effective for mortgage loan applications taken 07/30/09 and thereafter and places many additional restrictions on how we lenders will have to comply with disclosing loan terms to our borrowers. The effort is laudable- to give customer...
08/03/2009
The typically busy spring home buying season has sprung in Lake County which surpassed the 300 unit per month threshold topping out at 317 for the month of June, '09 as reported by the National Association of Realtors. Prior to this April had seen the best sales so far this year with 288 and th...
07/16/2009
This post by my associate Colleen Craig from way out in the west coast was too good not to share. Although the 203k is much more like a construction to perm loan and does carry more costs as such, it's a super program for bank REO's. And don't forget the streamline 203k is much easier and allows ...
07/14/2009
To sum it up, the program will not be available in Lake County until early August at best. Applications cannot be accepted until that time. If you have buyers anticipating the need for these funds, now is the time to have them begin working with your lender to ensure they are ready to submit the...
07/07/2009
The last holdout- USDA- will be requiring the 1004MC addendum to the appraisal on all Rural Development loans effective July 1, 2009. Up to now they were the only loan program to not require it so the news certainly doesn't come as a surprise. The memo from USDA states files in process prior to t...
06/26/2009
Great post from a great guy. If you are not part of the solution, you're part of the problem! Let's get the dialog started to truly help our industry. Let's team up to keep politicians from trying to look good and instead make them DO good. You've got my support Jeff! Gerry Suarez, Jr. Your FHA L...
06/18/2009
Today the USDA announced it regular allocation of funding had been credited is now available for use. These are the funds that can be used to guarantee refinance loans (you can only refinance a current Rural Development loan) and homes with pools. Remember pools still require a special exceptio...
04/24/2009
It's been confirmed! The income limits in Lake County (and the entire Orlando area) for USDA Guaranteed Rural Development loans will go up to $70,750 for households from 1-4 persons and $92,400 for households from 5-8 persons. No false start anymore folks. We can start taking and processing ap...
04/10/2009
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Local information regarding Mortgage lending in Central Florida including Orange, Seminole, Osceola, Lake, Volusia and Marion Counties. Also providing up to date information on HUD and government loan programs, and first time buyer programs. I'm required to tell you I'm not acting on behalf of HUD/FHA or the US Government!