Not often that I get to see an almost full moon while it is still day light.  Who knows maybe we will have a full moon for halloween.   ****************************************************************************************************************** Info about the author: George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com 10/30/2009

The third and last change that we have been notified of this week is a change to FHA Appraisal Expiration.  FHA Appraisals use to be good for six month, this was both good and bad.  Good because if an appraisal was done on a property, and the deal fell apart, the appraisal would still be applicable for a six month period, and the new Buyers/Borrowers would continue to use the same appraisal, because it was attached to the FHA Case Number.  Therefore, they were able to save money on an appraisal.  The Bad part is that if the reason for the deal falling apart was because of appraisal issues, or the house under appraised, those issues would continue to be a problem for six months, and you could not get away from them by doing a new appraisal. With this change FHA has reduced the appraisal ... 10/28/2009

The second up coming change that Kim Neilson our Senior Vice President at McCue Mortgage recently made us aware of, are changes to FHA Streamline Refinancing.  Unlike the up coming change that I wrote about yesterday, this change will only affect existing FHA Borrowers, but given the number of FHA Loans that have been done over the last few years, this change will still an impact on a significant number of homeowners. The up coming changes to the FHA Streamline refinance guidelines will become effective with FHA case numbers assigned on or after 11/18/09, and are as follows: Borrower must be receiving a net tangible benefit as the result of the streamline refinance in one of the following ways: 5% reduction in total mortgage payment. Adjustable Rate (ARM) to Fixed Rate. Reducing the ter... 10/27/2009

Kim Neilson our Senior Vice President just released some information to all our Loan Officer about Industry Changes that will be happening over the next two to three months.  These are changed that will affect many of us in the Real Estate Industry, especially the change that I am writing about in this blog, Fannie Mae Automated Underwriting (DU) Eligibility Changes.  If all of us are up to date on the up coming changes, than we can all better serve and advice our Borrowers and Buyers.   This first change, Fannie Mae Automated Underwriting (DU) Eligibility Changes, is going to have a major impact on 2 Unit Multi-Family Properties, and the sooner the word gets out about it the better.  Fannie Mae will be releasing Automated Underwriting (DU) Version 8.0 on December 12.  Changes included ... 10/26/2009

Bob Stewart announced a new ActiveRain Challenge on Thursday called Using Your Blog To Enhance Existing Relationships.  The purpose of the Challenge is exactly what it says but please follow the link to get all the details. My purpose for blogging is to provide information and to better educate Home Buyers as well as to keep Realtors that follow my blog.  I have taken many of my blogs and created packets as well as flyers that I give to my clients and Realtors whom I call on. Examples of blogs that I have created packets for my Borrowers are: First Time Homebuyer Seminars.....Part #1. First Time Homebuyer Seminars.....Part #2. First Time Homebuyers Seminars.....Part #3 First Time Homebuyer Seminars.....Part #4 Major Impact on Credit Scores (edit/delete) Credit Scores Where Did They Come... 10/24/2009

HARVEST PORK DINNER FOLLOW-UP   THIRD CONGREGATIONAL CHURCH 94 MINER STREET (just off Route 217/East Street) MIDDLETOWN, CT Last night was the Third Congregational Church's Annual Harvest Roast Pork Dinner.  The event started at 5:00pm and continued to 7:00pm.  The picture below shows just how busy it was... and ... it was NON-STOP.    On the menu was Roast Pork (obviously) with mash potatoes, gravy butternut squash and green beans.  Then of course there is dessert....where you have a choice as well.  There was apple and pumpkin pies and ice cream to choose from.  Coffee and tea were made available throughout the meal. Above is my son, Kyle and Larry serving coffee... yes, Kyle tried some.   Wondering how much food they went through????  Here is the run down. 128 pounds of potatoes 170 ... 10/18/2009

I do not have all the details yet, but was I informed this morning at out Monthly Sales Meeting, that we have received word that the New FHA Condominium Approval Guidelines will now not go into effect until December 1, 2009.  This is great news, because it means that Spot Approvals will continue to be available until then. We also received word that even though the New FHA Condominium Approval Guidelines will not go into effect until December 1st, that the change on "The Right of First Refusal" restriction will still go away on November 2nd.  This would mean that for at least one month (and in my opinion FHA will continue to delay the New Approval Process) that we will be able to do Spot Approvals on Condominium Complexes that have "The Right of First Refusal".  There is also early indi... 10/16/2009

HARVEST PORK DINNER   THIRD CONGREGATIONAL CHURCH 94 MINER STREET (just off Route 217/East Street) MIDDLETOWN, CT Don't you find on fall weekends you are out and about with the family?  At this time of the year, you are apple picking, pumpkin picking.. or raking those dreaded fall leaves.  With everything you are doing, do you really have time to cook dinner this weekend?  Do you want a break from this activity/chore?  The Third Congregational Church on 94 Miner Street in Middletown, CT is holding its Annual Harvest Roast Pork Dinner, Saturday, October 17th.  The event starts at 5:00pm and continues to 7:00pm.  You may pay more, but you won't discover a better quality, all-you-can-eat, multi-course HARVEST DINNER (Roast Pork) than the one created and served by the Partnership for Sharin... 10/16/2009

THIRD CONGREGATIONAL CHURCH MILITARY WHIST 94 MINER STREET MIDDLETOWN, CT   I received a call from the 3rd Congregational Church to see if I could blog about the card game Military Whist.  They are having this at the church this evening, Thursday, October 14th starting at 6:30pm. I've heard about this game, and have been told it is a lot of fun.  Never have tried it.. maybe I will tonight.  So, if you are looking for something different to do stop by and check it out.  I'd love to hear what you think of the game.   FOR ACCURATE INFORMATION ON REAL ESTATE.. CONTACT YOUR LOCAL AGENT   Info about the author: Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, which includes Cromwell,... 10/14/2009

Connecticut's New Move Over law EFFECTIVE DATE: October 1, 2009 This bill requires a motorist approaching one or more stationary emergency vehicles located on the travel lane, breakdown lane, or shoulder of a highway to: Immediately slow down to a reasonable speed below the posted speed limit. If traveling in the lane adjacent to the location of the emergency vehicle, move over one lane, unless this would be unreasonable or unsafe. For these requirements to apply, the emergency vehicle must have flashing lights activated. Under the bill, an "emergency vehicle" includes a vehicle: operated by a member of an emergency medical service organization responding to an emergency call; operated by a fire department or by any officer of the department responding to a fire or other emergency; oper... 10/06/2009

If you are in the Middletown, Connecticut area, and are looking to take younger children to have a great time, then KidCity Children's Museum is the plase to take them.  KidCity Children's Museum in Middletown, Connecticut is a place that younger children, and their parents can spend hours at and still not do everything that they have to offer. At KidCity Children's Museum in Middletown, Connecticut you will find several rooms.  There is a Musical Planet, Video Theater, Reading Room, Clubhouse Room, Cornfield Room, Clipper Ship & Fishery Room, Main Street Room, Farm Room, Spaceage Road Trip Room, and Toddler Sea Caves.  Each and everyone of these rooms is a special adventure for you and your child.  The scenery in each room as well as the things to do within each room is simple amazing... 09/03/2009

Thursday I began this series "Questions That Must Be Asked ............ Declarations Section VII Of Loan The Application" which is a follow up to a blog I did on Tuesday about the need for Buyers to be Pre-Approved for a loan "Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut ..... Pre-Appoval Letter", and the process that should be followed. In Pre-Approving a Buyer it is EXTREMELY IMPORTANT that the Loan Officer not just look at Credit and Income, or even collect documentation to verify the information that they were given, they have to complete a full Loan Application (1003). Without completing a FULL APPLICATION, mistakes are very likely to happen, because each page of the 1003 has questions if not answered can create surprises and huge problems later... 09/02/2009

Thursday I began this series "Questions That Must Be Asked ............ Declarations Section VII Of Loan Application" which is a follow up to a blog I did on Tuesday about the need for Buyers to be Pre-Approved for a loan "Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut ..... Pre-Appoval Letter", and the process that should be followed. In Pre-Approving a Buyer it is EXTREMELY IMPORTANT that the Loan Officer not just look at Credit and Income, or even collect documentation to verify the information that they were given, they have to complete a full Loan Application (1003). Without completing a FULL APPLICATION, mistakes are very likely to happen, because each page of the 1003 has questions if not answered can create surprises and huge problems later on.... 09/01/2009

  Thursday I began this series "Questions That Must Be Asked ............ Declarations Section VII Of Loan Application" which is a follow up to a blog I did on Tuesday about the need for Buyers to be Pre-Approved for a loan "Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut ..... Pre-Appoval Letter", and the process that should be followed. In Pre-Approving a Buyer it is EXTREMELY IMPORTANT that the Loan Officer not just look at Credit and Income, or even collect documentation to verify the information that they were given, they have to complete a full Loan Application (1003). Without completing a FULL APPLICATION, mistakes are very likely to happen, because each page of the 1003 has questions if not answered can create surprises and huge problems later o... 08/31/2009

Thursday I began this series "Questions That Must Be Asked ............ Declarations Section VII Of Loan Application" which is a follow up to a blog I did on Tuesday about the need for Buyers to be Pre-Approved for a loan "Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut ..... Pre-Appoval Letter", and the process that should be followed. In Pre-Approving a Buyer it is EXTREMELY IMPORTANT that the Loan Officer not just look at Credit and Income, or even collect documentation to verify the information that they were given, they have to complete a full Loan Application (1003). Without completing a FULL APPLICATION, mistakes are very likely to happen, because each page of the 1003 has questions if not answered can create surprises and huge problems later on.... 08/30/2009

   Thursday I began this series "Questions That Must Be Asked ............ Declarations Section VII Of Loan Application" which is a follow up to a blog I did on Tuesday about the need for Buyers to be Pre-Approved for a loan "Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut ..... Pre-Appoval Letter", and the process that should be followed. In Pre-Approving a Buyer it is EXTREMELY IMPORTANT that the Loan Officer not just look at Credit and Income, or even collect documentation to verify the information that they were given, they have to complete a full Loan Application (1003). Without completing a FULL APPLICATION, mistakes are very likely to happen, because each page of the 1003 has questions if not answered can create surprises and huge problems later o... 08/29/2009

Yesterday I began a series "Questions That Must Be Asked ............ Declarations Section VII Of Loan Application" which is a follow up to a blog I did on Tuesday about the need for Buyers to be Pre-Approved for a loan "Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut ..... Pre-Appoval Letter", and the process that should be followed. In Pre-Approving a Buyer it is EXTREMELY IMPORTANT that the Loan Officer not just look at Credit and Income, or even collect documentation to verify the information that they were given, they have to complete a full Loan Application (1003). Without completing a FULL APPLICATION, mistakes are very likely to happen, because each page of the 1003 has questions if not answered can create surprises and huge problems later on. A... 08/28/2009

On Tuesday I posted a blog on the need for Buyers to be Pre-Approved for a loan  Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut ..... Pre-Appoval Letter, and the process that should be followed.  In Pre-Approving a Buyer it is EXTREMELY IMPORTANT that the Loan Officer not just look at Credit and Income, or even collect documentation to verify the information that they were given, THEY HAVE TO, let me repeat that, THEY HAVE TO complete a full Loan Application (1003).  Without completing a FULL APPLICATION, mistakes are very likely to happen, because each page of the 1003 has questions if not answered can create surprises and huge problems later on. One of the pages of the Loan Application (1003) that unfortunately does not get the full attention that it... 08/27/2009

  ****************************************************************************************************************** Info about the author: George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com 08/26/2009

The last few days have been really hot sticky humid days here in Connecticut, so I have been having to water the grass and flower more so than usual.  As I was watering the flowers in front of the house I started to notice that they were beginning to show signs that summer is coming to an end and that fall is around the corner. It is amazing how mother nature knows what time of the season it is, no matter what the weather is like it knows its time.  It knows when it is time to bloom and when it is time to let its leaves fall.  This made me wonder, do we have the same sense when it comes to our business?  Do we do what needs to be done during our seasons? Do we plant when we need to plant? Do we water and grow during our growing season? And do we fully take advantage of our harvest time... 08/22/2009