All Posts Tagged With: "cost"
Why Foreclosures Should Be Slower
Down in Florida there’s an effort to hurry the foreclosure process by taking courts out of the process. According to the St. Petersburg Times, “Gov. Rick Scott, House Speaker Dean Cannon and Senate President Mike Haridopolos all say they are interested in considering legislation to change Florida laws so judges won’t have to referee foreclosures.” [...]
17Oct2011 | Peter G. Miller | 0 comments | Continued
FHA to lenders: Show us your license
HUD has come out with a new standard for lenders, the requirement to see the license number for each lender or loan officer who does an FHA loan. The numbers are recorded with the Nationwide Mortgage Licensing System and Registry (NMLS). Okay, what does this mean and why should borrowers care? When you sell a [...]
10Jan2011 | Peter G. Miller | 1 comment | Continued
US home values fall $9 trillion since 2006, says Zillow
American real estate, a traditional bastion of household wealth for the middle class, has lost $9 trillion in equity since 2006 according to the real estate marketing site Zillow.com. Zillow reports that US homeowners lost $1 trillion in 2009 and it expects that losses will total $1.7 trillion in 2010. Specifically, Zillow estimates that values [...]
9Dec2010 | Peter G. Miller | 0 comments | Continued
How Can We Slash Mortgage Insurance Costs?
Private mortgage insurance companies are the private-sector equivalent of the VA and FHA. Such insurance allows individuals to borrow with little down — but only if they pay a premium for such coverage. How It Works Some important points about private mortgage insurance (MI) include: MI companies are state regulated, not federally regulated. State regulation [...]
26Apr2010 | Peter G. Miller | 0 comments | Continued
Smart Growth Equals More Congestion, Bigger Tax Bills
“Smart Growth” is here, a collection of proposals, guidelines, and goals that will ultimately make homebuying less feasible and commuting more difficult. And that’s the good news. The essential idea behind various “Smart Growth” initiatives is to move zoning decisions from local communities to Washington. This is necessary, it’s alleged, because we have too much [...]
4Sep2008 | Peter G. Miller | 0 comments | Continued
Do lenders count child care as a monthly “debt?”
Child care is regarded by most loan programs as something other than “debt” for mortgage qualification purposes. The logic is that child care is not an obligation in the sense of a car loan or credit card bill. For details, speak with loan officers. Technorati Tags: care, child, cost, debt, loan, mortgage, qualification, qualifying
31Aug2008 | Peter G. Miller | 0 comments | Continued
What Are The Most-Common Mortgage Loan ARM Indexes?
There are several major indexes in wide use today. They include: • The 11th District Cost of Funds Index (11th District COFI): This index reflects the interest levels paid for “deposit accounts” by savings institutions in Arizona, California, and Nevada that are members of the Federal Home Loan Bank of San Francisco. Deposit accounts include [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
Should I Enlarge My Home Or Get A Bigger One?
If you enlarge a smaller home you may find that central heating and cooling systems need to be expanded to accommodate the additional volume of space and that the electrical system must be updated. In terms of a design, it is possible that the living room, dining room, and kitchen will be too small to [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
What’s The 11th District COFI Mortgage Index?
The 11th District Cost of Funds Index (11th District COFI) is an index that reflects the cost of S&Ls in California, Nevada, and Arizona to borrow money. The attraction of the 11th District COFI is that it tends to move up and down slowly — which means that extreme highs and lows may be avoided. [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
Where Can I Get Information Concerning The 11th District COFI?
Extensive information, including index levels for the past 20 years, is available from the Federal Home Loan Bank of San Francisco. For the latest 11th District rates, press here. Technorati Tags: 11th, cost, District, funds, history, information, rates
30Aug2008 | Peter G. Miller | 0 comments | Continued
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