Michael Deery's (michaeldeery) Blog

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Mortgage and Lending - Citywide Financial Corp
RECENT BLOG POSTS
  The 25 year fixed mortgage is an awesome mortgage product for homeowners and buyers to take advantage of in this market. Because of record low rates again, "The 25 Year Fixed Loan" is providing homeowners with an opportunity to payoff their home 5 years earlier by using the same payment they al...
06/09/2011
  Will mortgage rates go to the 4% lows of last year? A lot of people have asked me this over the past week or two. The answer is, yes they are coming and here is why. The US recovery recently touted by the Govt and the Fed has been a "false start", as recent economic data has been very disappoin...
06/06/2011
  It sure seems likes the lenders are changing their rules now almost every week and making the loan process even more difficult for buyers. Because of all these new changes, many sellers are being very skeptical that a buyer will be able to get their financing approved and close escrow on their ...
05/31/2011
Buying and selling flipped properties can be a real pain in this market. For example, did you know that lenders require a 2nd appraisal on flipped properties where the seller is making more than 20% profit within 90 days and is selling to a FHA buyer, and the buyer is not allowed to pay for this ...
05/24/2011
Here is a great tip for buyers and especially investors in this market! Cash Recapture after Purchase– with no waiting period! Cash recapture is a nice feature for a borrower or investor who just bought a property and owns it free and clear. Many investors/buyers are paying all cash these days be...
05/19/2011
Enough is enough, Fannie Mae needs to be called out on this. We all know how important it is that buyers have good credit to purchase a home these days. But check out the outrageous fees that Fannie Mae is charging buyers with less than "perfect credit" (see below). For example, on a $375k purcha...
05/10/2011
A big concern and a question that many buyers have in today's market place is, "if I buy a home today, will it turn out to be a good investment and what type of appreciation will it have over the next few years"? Well that is a tough question to answer, but to help answer that, here is a report f...
05/05/2011
There was big news for the housing and interest rate markets this past week when the Federal Reserve announced that "they will be ending their monetary stimulus program called Quantitative Easing or "QE2" on June 30th". So how is this related to the housing market?   Because of the financial cris...
05/03/2011
I wanted to share some information that every homeowner should know. According to an industry trade group, more than 60 percent of U.S. homes currently have their property taxes over-assessed as a result of falling home valuations and inaccurate county records. Check out this chart below, it show...
04/28/2011
Housing Affordability has risen to its highest Level on Record according to recent figures. Data from the National Association of Realtors show that its Housing Affordability Index reached a historical high in January of this year. This index factors in the median home price, the interest rate, t...
04/19/2011
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