2009

FHA Cash Out Refinances Getting More Strict As Of April 1, 2009

March 30, 2009

If you’re in want of a cash out refinance, the most liberal cash-out program in town is about to make qualification more difficult. Effective April 1, 2009, the FHA is reducing the maximum loan-to-value on cash-out refinances by 10 percent, dropping the loan size limit from 95% of the home’s value to 85%. In its official press release , the FHA days it’s making the change to “limit its exposure to undue risk”.

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Top 4 Predictions for Real Estate Market in 2009

January 6, 2009

The New Year is not yet one week old but that’s not stopping market “experts” from predicting what’s in store for 2009. The calls on housing and mortgage rates run the gamut: Home prices have farther to fall Home prices have touched bottom Mortgage rates will dip Mortgage rates will rise Put it all together and it’s clear that the experts have no better idea about the future than you or I. Their guesses are educated ones, but they’re guesses nonetheless

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The New Housing Bill’s Hidden Tax Trap

July 31, 2008

Monday, President Bush signed the Housing and Economic Recovery Act of 2008 into law and the press jumped on the obvious storylines: First-time home buyers get a $7,500 purchase “credit” Conforming loan limits move to $625,000 Delinquent homeowners get a lifeline from the FHA Local governments get federal money for buying and restoring foreclosed homes […]

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The “Sheep Effect” On Your Housing Payment

July 9, 2008

A noon-hour, mortgage-bond rally rendered homes more affordable for Americans Tuesday. It was the second straight day on which this happened. On both days, the action was swift. The speed at which Monday’s and Tuesday’s respective rallies tore through mortgage markets illustrates how deep the uncertainty that surrounds the U.S. economy really is. One reason […]

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