Your 1st Step to home ownership BLOG

Military & Certain Federal Employees Get Home Buyer Tax Credits Until 2011 Check this out!!!!!!  A little-known provision of the Home Buyer Tax Credit bill that became effective on Nov 6, 2009, is that certain military personnel and Foreign Service employees have an EXTRA year to purchase a home ...

Annual Percentage Rate What is the Real Cost of Financing? Annual Percentage Rate (APR) is a tool that consumers use as a starting point to compare loan programs. However, it’s important to keep in mind that APR is not a perfect system, and not all lenders calculate APR in the same way. While the...

check this out.... Some Relief For Chinese Drywall Problem  July 2010 You've heard about it-maybe had some experience with it yourself, and Freddie Mac finally realized that this is a major issue for those who have had a home built (or remodeled) using this material from China. Here are some of t...

I recently spoke with Sunny Miceli about lending and was so shocked that I asked her to write this article about information that should be alarming to everyone related to the real estate industry; actually every single person is affected.  My name is Sunny Miceli: I have been in mortgage lending...

Is Now the right time to refinance?     Thinking about refinancing, wondering if now is the right time?  It could be if... Your adjustable rate mortgage payment is increasing you want to condolidate monthly debt, such as credit cards, car, etc.. Your current intrest rate is higher than todays rat...

The GO Zone deductibility period will end 2009- MUST COMPLETE CONSTRUCTION BY DEC 31ST 2009 AND CAN CLAIM IN 2010... READ MORE  Investors all across the United States have expressed interest in GO Zone property and the potential benefits it creates financially, but there is a lot of confusion abo...

Avoiding HUD Home Headaches: Tips On Buying HUD Foreclosures!  Bidding & Buying HUD homes-it seems to be the hot ticket in town.    However - Remember these key points to avoid problems and advise buyers: Only primary residence buyers allowed in the first round of bidding. Advise buyer that if ho...

Advertising Rules (Reg Z) for Real Estate Agents & Builders The updated Truth-In-Lending Rules apply if you quote down payments, payments, interest rates or points.  But wait, there's more!  These rules apply to all forms of advertising, including email blasts, flyers that you pass out at apartme...

Sell An REO by December 31, 2009-Get Home Steps TM Promo For Your Buyers! November 2009                                                                                            So what is it?  Freddie Mac HomeSteps will pay up to 3.5% of home sales price toward Buyer's Closing Cost 2 year HomeP...

FHA financing on Condo Projects is about to go from flood to trickle on December 7, 2009. These new guidelines announced in Mortgagee Letter 2009-19 will apply at that time: •·         The spot approval process for condominium projects is eliminated.  •·         All current condominium project ap...