Michael Wolff's Real Estate & Finance Blog

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Mortgage and Lending - Wolff Financial Services
Welcome to Michael Wolff's Blog! I am new to the world of 'blogging' but I have tons of information stored inside my brain that I hope will be useful to someone for something! I also continually educate myself about my local market as well as the Mortgage business on a National and sometimes International scales. Please feel free to contact me through this site, email or phone if you have any questions, comments or concerns.
RECENT BLOG POSTS
  There is a proposed bill by the Federal Reserve that on the surface sounds like it will help consumers, but will actually cost homeowners and home buyers much more!  Additionally it will put Mortgage Brokers, escrow officers, Realtors, title officers, appraisers, loan processors, underwriters a...
12/21/2009
A recent change in Federal policy may actually dictate when you can close! I have personally contracted with a leading Real Estate and Mortgage trainer to provide you with a special pre-recorded tele-conference to share with you how you business is going to change. It is important that if you pla...
11/23/2009
Extended Federal Tax Credit for 2010 I made this short presentation explaining the details about the extended and enhanced Federal Tax Credit. It is designed to stimulate the housing market by offering up to $8,000 to qualified First Time Home Buyers and up to $6,500 for Step-Up Home Buyers. Plea...
11/10/2009
This is the first of a few posts regarding financing options for buying a foreclosed home.  HUD has a great program for buying their homes for only $100 down. They also escrow repair money for needed repairs (so the home meets HUD guidelines) and they will also contribute closing costs.  However,...
03/22/2009
Loan Modifications:  you read about it them in the newspaper, on-line, letters in the mail, emails, and in the Police blotter! "What are they? Who can help me? Can I do it on my own? I want answers!" - a worried home owner.   What is a Loan Modification? A loan modification is simply a re-negotia...
01/23/2009
A little while back I had the pleasure of meeting Kris Paden through one of the networking websites that I belong to.  She is an Estate Planning Attorney and we quickly realized how our professions complement each other. My experience is that most people (homeowners, Realtors, Agents, etc.) do no...
10/30/2008
Think its hard getting buyers now? It may get more difficult 2 months from now. Currently, Conforming loan limits are as high as $729,750 (in certain high-cost areas) thanks to the Economic Stimulus Act of 2008. What this means is that the Government has allowed Fannie Mae and Fredie Mac to purch...
10/28/2008
FHA loans are a very popular loan option for many buyers these days; however it is important that the home meets FHA standards. It is for this reason I am providing this checklist to use as a guide when listing a home. Use it to make note of any potential issues before they arise. It is always be...
10/13/2008
Akron, OH.  A 90 year old woman facing eviction from her foreclosed home attempted suicide by shooting herself.  Bad news, she got shot and is in critical condition.  Good news, Fannie Mae has announced they will forgive her mortgage.  Her home of almost 40 years will be free/clear when she recov...
10/03/2008
Here are the 5 things you need to know about these changes... 1. One single down payment requirement of 3.5% for all purchases.  NO (as of now) Selller-Assisted down payment programs are allowed. 2. Closing costs/prepaids are in addition to the 3.5% down (6% seller contribution allowed)3. New max...
09/10/2008
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Michael Wolff

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