6 Reasons You Should NOT Refinance Your Mortgage
Posted by Mike on Jan 14, 2012 in Consumer news, Mortgage News | 0 comments
If there is one thing that remains constant, it’s that interest rates go up…they go down…but they rarely remain the same. But with every decrease, you have an opportunity to take advantage of the lower rates. However, Your mortgage refinancing may not be for everyone. Here are six reasons why you should not do...
Freddie Updates Guidance on Qualifying Income – Bulletin 2011-21 (Effective 11-4-11)
Posted by Mike on Jan 14, 2012 in Industry News, Mortgage News | 0 comments
Rule Synopsis: Freddie announced updates on their guidance for stable monthly income calculations. Retirement Income & Survivor and Dependent Benefits Type of income must be verified Must verify amount and receipt for a minimum of two months Must-verify Income likely to continue for a minimum of three...
Fannie HomePath® & HomePath® Renovation Programs: Incentives to Buy REO Properties
Posted by Mike on Jan 2, 2012 in Industry News, Mortgage News | 0 comments
Fannie Home Path® – Real Estate Brokers Owned Properties First Look Option: For the first 15 days the property is posted for sale: Only owner-occupied buyers can bid Eligible for HUD’s Neighborhood Stabilization Program Incentives $500 Earnest Money Right to negotiate sales price if appraisal is lower than sales...
Should You Save Your Money or Pay Off Your Bills?
Posted by Mike on Sep 28, 2011 in Consumer news, Mortgage News | 0 comments
This is a debate that has been going on for a long time, but in a National Foundation of Credit Counseling survey, 89% of those polled said they are working on paying off their debt first. However, while paying debt is a good thing, it comes at the expense of not having savings to dip into in case of an emergency. The advice...
How to Avoid Moving Company Scams!
Posted by Mike on Sep 28, 2011 in Consumer news, Mortgage News | 0 comments
Here are some “red flags” from www.ProtectYourMove.gov when you need to hire a moving company. Rogue movers typically work like this: Without ever visiting your home or seeing the goods you want moved, they give a low-ball estimate over the phone or Internet. Once your goods are on their truck, they demand more money before...
