Archive for October, 2009
Buying a fixer-upper home is becoming more common because of the number of foreclosures across the country. Whether the home has been a foreclosure or not doesn’t really matter – there are still a handful of simple tips that can save you time, money and effort when buying a fixer upper.
Tip #1: Plan Ahead
Buying a [...]
One of the most common questions that I get from people regarding the loan process is “how long will it take to get my loan closed?”
My usual answer is “around 30 days, but in today’s world it could be slightly longer”.
And now I know that I am slightly slower than the next guy.
How long does [...]
We have HVCC on the ropes so we need your help more than ever!
On Wednesday, October 21st, the National Association of Mortgage Brokers used this petition hvccpetition.com to help convince the House Financial Services Committee to pass an amendment that will finally put an end the mess that HVCC has been making of the real [...]
Is it too late to claim the first time home buyers tax credit?
As it stands now, it officially ends on November 30, 2009 – which means if you are currently under contract and are in process of getting financing, you will still probably close in time to claim the $8,000 tax credit.
But if you haven’t [...]
The House Financial Services Committee (HFSC) has approved HR 3126, the “Consumer Financial Protection Agency Act of 2009” by a vote of 39-29. The National Association of Mortgage Brokers (NAMB) commends and appreciates the participation of its membership in the Calls-to-Action by contacting representatives and urging them to vote for specific amendments to the bill. Two important [...]
One of the more popular topics relating to housing lately is whether or not Congress will expand the federal tax credit for new home buyers.
Yesterday, executives from the The Mortgage Bankers Association testified before Congress that they needed to “shore up” the housing market and could do so by extending the new home buyer tax [...]
Charges were filed against 41 people accused of mortgage fraud in connection with 100 properties in New York State.
Federal prosecutors charged the mortgage lenders, attorneys and others in the real estate industry with wire fraud and conspiracy fraud, according to the New York Times. Most of those charged were arrested or surrendered in New York, Pennsylvania [...]
Richard Geller helped a lot of folks get into the business of doing loan mods for profit and helped a lot of people successfully get their own loan modifications done.
And now he has revealed how to get loan mods for investor owned properties, and how to get REAL principal REDUCTIONS and How to use the [...]
If you have tried to get your loan modified but were not able to, then tried to short sell the home, but it hasn’t sold yet – there is another option.
As mentioned in the Herald Tribune, if you have an FHA insured loan, you may be eligible for the FHA “cash for keys” program where [...]
In different parts of the country, many people are starting to experience something that wasn’t all that common before just recently — the appraisal is coming in below the contracted purchase price that was agreed on by buyer and seller.
The reasons for this happening could include any number of things including the new HVCC laws, [...]