Quantcast

Archive for May, 2009

Isn’t It Time You Got A Will?

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 […]

Posted in: Library
Will HUD Allow FHA Loans With No Money Down?

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 […]

Posted in: Mortgages
New appraisal code should help home buyers

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 […]

Posted in: Closing
Report Says 22% Of All Homeowners Underwater

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 […]

Posted in: News
Bankruptcy Fables Your Lenders Love

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 […]

Posted in: Toxic Loans
Homeowners Lose as Bankruptcy Reform Fails In Senate

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 […]

Posted in: Mortgages