The 2008 Temporary Loan Limits will expire on Wednesday, Dec. 31, 2008, for the High Balance Conforming Loan Program and the High Balance FHA Loan Program.
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The Robyn Report
The Robyn Report is a mash up of articles, reviews and interviews about all things real estate. We have tons of guidelines and tips about the new rules for mortgages and how to buy or sell a house. With all the new technology out there, you need to be updated on the latest apps, websites, programs and software to make home buying easier. We continue to search the universe to find the latest and greatest geek stuff out there! And of course, we write the books, hence we think all consumers should read the books, so we often have book reviews and interviews with the authors. Knowledge is power. Use it!
Gustav Lowers Mortgage Rates!
It’s a new week, a new month and the beginning of the end of 2008. So much more to happen this year!
This week started out with a bang and a boom of the stock market. Gustav was
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What is the Foreclosure Price of that House?
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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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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FNMA Limits # Loans per Borrower
For the few that will be affected by this, FNMA is cutting back on the number of homes that you may mortgage. The guidelines will be effective mid-august at most large lenders.Â
Buying
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