This is the new question buyers are asking their Realtors and seller. I want to pay the “foreclosure price” and not a penny more!
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Typically the price of a home is set at
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Monthly Archives: August 2008
Are House Values Taking Home Prices Down Too?
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We are currently working on a mortgage for a condo by the Jersey shore. Our clients are now buying their dream “second†home. After shopping and searching, a fab two- bedroom
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FreddieMac Pulls Out of Jumbo-Conforming Mortgages?
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Again, I must spread a rumor that I heard on the street. The Jumbo–Conforming loan product (up to $729,000 in some parts of the country) is being eliminated prematurely by FreddieMac.
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FHA Eliminates DPA
The FHA has finally eliminated the availability of the Seller Funded Down Payment Assistance programs (DPA). The dates of guideline reductions have been released by many lenders
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FNMA Eliminates Limited Doc Mortgages
I heard a rumor today……all reduced documentation mortgages will be eliminated by FNMA and FreddieMac by the middle of this month (August, 2008). Although the no-income verification
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PMI Makes Renting and Buying A House Harder for You!
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A few weeks ago, I started conversations with freelance writer, Lora Shinn. She was doing an article about people that need to relocate, but cannot sell their current homes.
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PMI Tightens The Belt for Mortgages Again
PMI (Private Mortgage Insurance) is required when you borrow more than 80% of the value of your home. The lenders felt that if you had less than 20% equity in your home there could be
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