Michael Shotnik's Blog

The 3 most important factors to be aware of before buying your First Home:1. Income2. Credit3. Assets 1.  Income. To borrow the amount of money needed to buy a home you will need to show strong employment history.  Any job gaps will need to have a make sense explanation and everything must be doc...

First Time Homebuyer Tax Credit - Q&A I think there are a few misconceptions about the First Time Homebuyer Tax Credit.  Hopefully the Q&A below will help you understand how it may help you and the economy.  It may be difficult to completely grasp, don't hesitate to contact me if you don't comple...

I've received many panicked calls over the past few days from realtors and other real estate professionals who have watching the news and are hearing that no one is able to lend money. I want to start by saying that we are still funding loans. There have been NO major guideline changes within the...

Hope for Homeowners is a NEW FHA program scheduled to be available October 1st! The Hope program runs from October 1st, 2008 until September 30th, 2011. The program is designed for homeowners who are current or behind on their mortgage and can document that they are/will be unable to afford the p...