John Balladares's (jballadares) Blog

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Mortgage and Lending - Peoples Bank
RECENT BLOG POSTS
  With its extremely low down payment, the Federal Housing Agency (FHA) loan is the primary method for financing for homebuyers across the country. According to a recent Wall Street Journal article, the FHA loan will be undergoing some changes that could have a major effect on affordability. "Ab...
03/26/2011
What would happen if loan giants Freddie Mac and Fannie Mae were shut down? A recent New York Times article explains that if the government eventually shuts down these companies, the 30-year fixed-rate mortgage loan could be a thing of the past. Homeownership as we know it could change drasticall...
03/24/2011
  President Obama has signed a bill that has extended the tax deduction of mortgage insurance through 2011.  Here are the rules to remember in regards to this tax deduction: 1. Your purchase or refinance loan must close before Dec 31st, 2011. 2. Household income must be $100,000 or less to get t...
03/24/2011
Points paid on a purchase transaction are a tax deduction in the year of the close of escrow Paying points can dramatically reduce the interest rate on the loan Lowering the rate lowers the payment, lowering the income needed to qualify A lower rate saves the buyer thousands of dollars over the ...
03/22/2011
This week brings us the release of five monthly and quarterly reports for the bond market to digest. Two of the reports can be considered much less important than the others, but with mortgage-relevant reports scheduled four out of the five days we will still likely see some movement in rates a ...
03/21/2011
  When the stress of a possible foreclosure rises, it is important to remember that there are many resources out there to help avoid it. The programs and agencies below all specialize in helping people avoid foreclosure on their homes: U.S. Department of Housing and Urban Development (HUD)800-56...
03/18/2011
  It is important that while shopping for a mortgage to not solely focus on rates, but to shop for a great loan consultant. Anyone can quote a rate, but knowing you're with a true professional that can deliver makes all the difference. Also, many lenders will quote rates without taking into acco...
03/17/2011
Purchasing a home requires a thoughtful decision. For some, leaving a rented apartment is difficult due to its financial flexibility; however choosing homeownership can be financially rewarding.Here are some things to keep in mind when considering buying a home:Undecided?Don't Wait Until It's Too...
03/16/2011
There are many pitfalls you can avoid when you are in the market to buy a new home. Here are just a few tips and strategies to help you prepare for success: Know your credit score. You may be able to get a better mortgage rate and more favorable loan terms by restructuring some of your balances ...
03/15/2011
Buying and selling a home and moving is one of the most stressful processes on the human psyche. It is important that while going through the real estate process, you find time to take care of yourself. Just like on an airplane, you have to put an oxygen mask on yourself before helping anyone el...
03/14/2011
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