In a HUD Mortgagee Letter dated September 1, 2010, the new FHA Mortgage Insurance changes were rolled out and it seems it is going to change the way FHA mortgage loans are written.  Please find the link to a copy of the Mortgagee Letter below: Mortgagee Letter Essentially, they are lower the Up Front MIP [...]

An informed decision always yields better and more successful results. For a buyer looking into the market for a new house or car, knowing your options and the consequences of certain decisions can help you avoid financial mishap that often happen into the future. Coursing your direction into the right path at the outset can [...]

More than getting a fresh start on your home loan, refinancing mortgage loans can give you extra flexibility on your payment. One of the benefits of Florida refinancing is the tax deductibility feature of the amount that qualifies as home acquisition debt. People may not be aware of how their mortgages work; hence, they fail [...]

Numerous books have been released on how to get rich and experts have come out selling their secrets on how to succeed in building up assets the sure fire way. Asset building is of great interest, especially to those who are willing to take the risk. But of course as it has been often said, [...]

For a lot of investors, YES!  As a measure of tightening up in the mortgage lending industry, most banks are now requiring a 640 minimum credit score.  This has increased from the most recent mandatory requirement of a 620 median credit score needed to qualify for a home loan.  These are referred to as “layered [...]

Before we wallow in all the negative news about the real estate market—wondering if it’s headed for another leg of the recession or a lasting deflationary grind—let’s pause and notice that, according to the Commerce Department, sales increased by a solid 24% from May to June in California. That still leaves us with a very [...]

Miami, Fl — Builders are reporting a sharp drop in the number of buyers looking for new homes now that the federal tax credits have expired.  The National Association of Home Builders said its confidence index sank to 14, its lowest level since March 2009. Readings below (50) indicate that homebuilders have a negative view [...]

They sure are!  Freddie Mac’s weekly survey shows that the average 30 year mortgage rate still remains at a record low. The average 30 year fixed mortgage rate of 4.57% remains unchanged from a week earlier.  Last year this time, the average 30 year fixed rate was 5.14%.   15-year mortgages were lower of course, [...]

Good news, rates have been falling for the most of this year. Bad news, rates have probably bottomed and will head higher. Last week brought a gale of game-changing news, contradicting recovery, and a whiff of panic. This holiday-short week was news-thin, and mid-July marks the beginning of an often sleepy season for markets and [...]