Lora Graetzer's (lorasloans) Blog

Congratulations to all in this industry who've not only survived but strived as well!  I'm sure we're not the only ones to be saying, "Bye Bye 2009" and have an optimistic attitude for 2010! Happy New Year!

This won't be as important to Realtors as much as it will for customers who need to refinance for whatever reason. Effective November 1, 2009 HUD will enforce some new rules for FHA Streamline refinance loans. We're going to have a BIG meeting next Wednesday and I'll post more information afterwa...

If you want to take advantage of the $8000 Federal Tax Credit you MUST CLOSE BY NOVEMBER 30, 2009!!! There are still plenty of nice homes for sale! Take advantage of the negotiability in dealing with the seller, whether it be the current owners or the bank with a short sale or foreclosure.  Take ...

FHA is now offering ARMS again! Yes indeed!  You heard right!  Buyers now have the option to use either the 3/1 ARM or the 5/1 ARM when purchasing a new home which enables them to qualify for more house since they will qualify at the 1st year note rate.  Today's rate (5/2/09) is: 3.75% with 1 Ori...

Just a reminder for everyone.  We always hear to check your credit at least once a year.  We see commercials advertising free credit reports on tv all the time.  Just in case you aren't aware, you can look at your credit report for free at www.annualcreditreport.com once a year.  Since you are on...

FHA is changing its refinancing guideline again effective April 1, 2009.  The loan to value cannot exceed 85% and MUST have 2 appraisals in order to do so.  Credit scores continue to be a key factor as well.  It's very hard to get any loan approved under 620 now. FHA used to allow up to 95% loan ...

It's that time again!  Before you go to bed Saturday night, don't forget to move those clocks FORWARD 1 hour.  Woo Hoo!  It's seems like summer is right around the corner doesn't it? First we need all the snow to melt that we just got,  then it'll be time to freshen up the yard, brighten it with ...

EXCITING NEWS!  This surely won't last long for qualified buyers of certain areas in Maryland!  Qualified buyers can get up to $50,000 to purchase foreclosed homes in specific areas.  Funding is limited and specific requirements must be met. There are income limits, education requirements and mo...

CDA is suspending their acceptance of Conventional loans as a result of the unfavorable ratings of the mortgage insurance companies. Yet another change to this (used to be best) program for 1st time buyers.  Most buyers nowadays are more inclined to use the FHA program to purchase.  It only requi...

Well the State of Maryland CDA Program couldn't leave well enough alone again.  They are now calling the grant funds "Premium Pricing".  In doing so, buyers who needed to use the FHA/CDA structure for their loan are not permitted to use the grant funds towards their minimum requirement of 3% inve...