Archive for May, 2009
Isn’t It Time You Got A Will?
At the end of each year it’s smart to have a personal financial inventory, to make sure all your current financial information is assembled in one place in the event of an emergency. This is especially true if you own a big-ticket item such as real estate, whether that real estate is a personal residence [...]
30May2009 | Peter G. Miller | 0 comments | Continued
Will HUD Allow FHA Loans With No Money Down?
Has HUD changed its mind? On Monday, May 11th, HUD posted Mortgagee Letter 2009-15 which explained that “Federal, state, and local governmental agencies and nonprofit instrumentalities of government, FHA-approved nonprofits, and FHA-approved mortgagees may provide short-term or “bridge loans– secured only by the anticipated tax credit due the homebuyer as collateral.” Immediately the letter was [...]
18May2009 | Peter G. Miller | 0 comments | Continued
New appraisal code should help home buyers
Freddie Mac and Fannie Mae’s new Home Valuation Code of Conduct went into effect as of May 1st, a document which is important to buyers, sellers and lenders. For a number of years appraisers have reported being pressured to meet certain price points when evaluating a home, pressure placed on them by lenders and loan [...]
11May2009 | Peter G. Miller | 3 comments | Continued
Report Says 22% Of All Homeowners Underwater
Zillow.com is reporting that more than one-fifth of all homeowners are now underwater on their mortgages. The company says that home values in the United States fell again in the first quarter, posting a year-over-year decline of 14.2 percent. The Zillow study covers 161 metropolitan areas and cover the value changes in all homes, not [...]
6May2009 | Peter G. Miller | 0 comments | Continued
Bankruptcy Fables Your Lenders Love
Should bankruptcy judges have the right to modify home mortgages? Would that be fair? Or unfair? It’s a political question, of course, and when the time came for the Senate to vote in April the count was 51-to-45 against a measure would give judges the right to change home loan terms and rates. For the [...]
4May2009 | Peter G. Miller | 0 comments | Continued
Homeowners Lose as Bankruptcy Reform Fails In Senate
Efforts in Congress which would allow bankruptcy judges to change the terms of residential mortgages came to a halt yesterday by a vote of a 51-45. Of the 51 votes against the measure, S. 899 The Helping Families Save Their Homes Act of 2009, 12 were from Democrats, 39 from Republicans. Not one Republican voted [...]
1May2009 | Peter G. Miller | 0 comments | Continued
© Copyright 