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Archive for November, 2012

Can A Gay Couple Get An FHA Mortgage?

Can A Gay Couple Get An FHA Mortgage?

While gay couples seeking VA mortgages face significant barriers and limitations imposed by Congress, the same is not true with gay couples who wish to finance with FHA mortgages, even in states where gay marriage is not recognized. Under VA rules a “spouse” is defined as someone of the opposite sex, meaning that the definition […]

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Can A Gay Couple Get A VA Mortgage?

Can A Gay Couple Get A VA Mortgage?

For a number of years voters have rejected marriage equality, the idea that gay couples could have the same civil recognition as straight couples. But with the most recent election there has been a visible evolution in public attitudes: After more than 30 losses on state ballots, the civil recognition of gay marriage was approved […]

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Thanksgiving, Twinkies & Mortgages

Thanksgiving, Twinkies & Mortgages

As we again sit down to a bountiful Thanksgiving dinner with friends and family there ought to be a moment to think about Hostess Brands Inc. and the more than 18,000 people whose jobs are at risk. The company says its workers want too much and the union says the company is offering too little. […]

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Foreclosure Filings Drop 19% But Rise In Northeast.

Foreclosure Filings Drop 19% But Rise In Northeast.

Foreclosure filing stats for October were a mixed bag, up 3 percent when compared with September but down 19 percent from last year, according to the latest nationwide survey from RealtyTrac. Foreclosure filings –which include default notices, scheduled auctions and bank repossessions — are the best available measure of distressed properties because they reflect not only homes which […]

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How To Finally End Underwater Mortgages

How To Finally End Underwater Mortgages

There is a quick fix which will both rescue housing and rescue the economy. Allow EVERYONE to go back to 80% financing of current market value even if they are underwater. (Okay maybe not everyone limit it to homes of $1 million or less, primary residences, and impose a 31% of gross income affordability test) […]

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Can Mortgage Insurance Premiums Rise?

Can Mortgage Insurance Premiums Rise?

Question: My private mortgage insurance payment jumped from $49 to $258 a month. How can they increase my rate? Answer: Something plainly increased on your monthly statement, but it was probably not the cost of private mortgage insurance (MI). Mortgage insurance is required for FHA loans and VA mortgages. For conventional loans, private mortgage insurance […]

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Should We Privatize Hurricane Sandy Disaster Relief?

Should We Privatize Hurricane Sandy Disaster Relief?

It looks like 20,000 to 40,000 emergency housing units will suddenly be needed in New York and New Jersey as a result of Hurricane Sandy. Not since Hurricane Katrina has the need for instant and immediate housing been greater – and not since Hurricane Katrina are more people likely to be disappointed. The modern economy […]

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