If you were busy with holiday travels and shopping in late December, you might have missed the fact that President Bush signed into law new legislation designed to help homeowners in deep mortgage trouble.
Forgiven, Not Forgotten
The most significant change under the new law is tax relief for people who sell their home for less than the remaining balance on their mortgage. Under the old law, even..(read more)
With all the negative news about the housing and mortgage industry, many people are waiting to see what happens before they make a decision to purchase real estate. However, the time is right to purchase property NOW. There are three reasons why the time is right.
Interest Rates
Interest rates on mortgages have fallen substantially over..(read more)
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We received an awesome email this morning from the past president of the Arizona Mortgage Lenders Association, Amy Swaney. She does an excellent job of..(read more)
Home seller quandary: Fix up house or offer credit?
Many buyers have trouble envisioning 'home' that needs work
Monday, January 28, 2008
By Dian Hymer
Inman News
Sellers who anticipate losing money if they sell their home may wonder why they should spend a dime fixing the place up for sale. Isn't this throwing good money after bad? Even sellers with plenty of equity in their..(read more)
I found this article quite informative.
Seven states on board; 31 others pledge to join
Wednesday, January 02, 2008
Inman News
A nationwide licensing system that's intended to help states track mortgage brokers and lenders under their..(read more)
Issuance of private mortgage insurance policies fell by 7.6 percent in November compared to the month before, even as defaults continued to climb.
That's according to the latest numbers from a trade association representing the private mortgage insurance industry, the Mortgage Insurance Companies of America (MICA).
Primary insurance defaults totaled 61,033 in November, MICA said, up 2.9..(read more)
IRA Owners Investing in Mortgages
Owners of self-directed IRAs are investing them in mortgages, according to companies that promote the strategy.
These entrepreneurs make loans with terms lasting from a few months to a few years to investors doing fixer-uppers, small-scale developers, and relocating families who need a bridge loan. They find borrowers through an informal network..(read more)
We recently recieved this letter from a client for whom we both sold and purchased a home. It reaffirmed for me the importance of removing as many external pressures from the decision as possible. At King & Assoc. one of our initial commitments when we started was to act as a source for information and advice but never to cause any pressure to be put on buyers or sellers. The..(read more)
What’s to blame?
Making Sense of the Foreclosure Fallout
Mortgage defaults are on the rise, but risky subprime lending isn’t entirely to blame. Find out the reason for the spike, and most importantly, how you can help clients be financially safe.
BY BLANCHE EVANS
Foreclosures rose sharply in the first quarter to one filing for every..(read more)
HUD Proposes Ending Some Down Payment Gifts
Down payment-assistance programs that are indirectly funded by the home seller and offered through nonprofit groups are being threatened by a Housing and Urban Development proposal that would prohibit them.
Down-payment assistance is typically used by borrowers who take out loans insured by the Federal Housing Administration, which requires borrowers..(read more)
