Archive for November, 2009
by Phoebe Chongchua It can be one of the hardest things to do — save money for your first home. But now, more than ever, there’s incentive to buy. Government housing tax credits have been extended and that’s sparking buyers’ interest. Reports show that U.S. homes sales increased 10 percent in October to the highest…Read the Rest of Article
Tags: buying a home, tax credit
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By Holden Lewis • Bankrate.com Another week, another record low for mortgage rates. The benchmark 30-year fixed-rate mortgage fell 6 basis points to 5 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. That’s the lowest rate on the 30-year fixed in the history of…Read the Rest of Article
Tags: fha rates, mortgage, refi rates, usda rates, va rates
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So you’ve found your dream home, your offer just got accepted, and now you’re ready to rock n roll by starting on the loan and securing your rate on a Jumbo Mortgage. Then you hear what the rate is. Yikes! You ask your loan officer, “Listen buddy. You’re website says 5%! Why are you telling…Read the Rest of Article
Tags: jumbo loans, Jumbo Mortgages
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By Amy Hoak, MarketWatch CHICAGO (MarketWatch) — House shopping usually slows down in the winter, as people put their home searches on hold to trim the tree, buy presents to put under it and avoid the chilly weather. This winter, however, might be different, thanks to the extended — and expanded — first-time home-buyer tax…Read the Rest of Article
Tags: fha tax credit, tax credit, texas
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Here is official information on the Homebuyer Tax Credit extension. First Time Homebuyer Credit general information on IRS.gov http://www.irs.gov/newsroom/article/0,,id=204671,00.html First Time Homebuyer Credit Questions and Answers on IRS.gov (This page includes Q&A broken out by basic questions, 2008 purchases, 2009 purchases and scenarios.) http://www.irs.gov/newsroom/article/0,,id=187935,00.html
Tags: 2009 homebuyers tax credit extension, 2009 tax credit, 2010 tax credit home buyers
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Mortgage Rates Hold Near Six Month Lows. Still Locking Loans by Victor Burek – In a volatile session, mortgage rates ended yesterday’s session unchanged as a small rally in benchmark Treasuries helped support the MBS market. Following weaker than expected economic data in the morning, rates rallied. However as profit taking took place later in…Read the Rest of Article
Tags: fha rates, mortgage, texas mortgage rates, va rates
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I have been getting a lot of inquiries from Realtors lately asking me how I always manage to avoid the unnecessary delays after the implementation of Regulation Z, so I figure I’d write a quickie on streamlining the processes and getting everyone to closing on time. Couple of things we do differently than other lenders:…Read the Rest of Article
Tags: hera, regulation z, respa, respa rules 2009
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The U.S. Department of Housing and Urban Development’s (HUD) Mortgagee Review Board (MRB) will “exercise restraint in enforcing new regulatory requirements under the Real Estate Settlement Procedures Act (RESPA)” for the first four months of 2010, the agency announced Friday. The MRB instructed its staff to exercise such restraint in considering an action against Federal…Read the Rest of Article
Tags: new gfe, respa, respa rules 2009
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Well the results of the fha audit are in and they’re NOT good. A while back I wrote a blog regarding the dire matter at hand explaining how FHA works and what to expect in the near future. Well, after the audit, FHA’s current Capital Reserve came back at 0.53% when in fact they are…Read the Rest of Article
Tags: fha audit, fha loan, texas fha loans
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Dire prediction for jumbos Without federal help, default rate set to soar By Steve Bergsman, Friday, November 6, 2009. Inman News In springtime, when all things hopeful and botanical bloom, there was a widespread sprouting of press announcements, particularly from the major banks, about increased dollars allocated to the business of jumbo loans. Alas, the…Read the Rest of Article
Tags: jumbo mortgage loans, texas jumbo loan rates
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Published: Oct. 29, 2009 By Steve Cook Real Estate Economy Watch Senate Majority Leader Harry Reid (D-NV) and Chairman of the Senate Finance Committee Max Baucus (D-MT), engineered the deal to include move-up buyers in the homebuyer tax credit. A deal struck among key senators last night to extend the homebuyer tax credit will broaden…Read the Rest of Article
Tags: first time home buyer, tax credit
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CIT files for Chapter 11 bankruptcy protection CIT Group seeks prepackaged reorganization in New York bankruptcy court, By Stephen Manning, AP Business Writer On 9:28 pm EST, Sunday November 1, 2009 Companies: Cit Group, Inc. WASHINGTON (AP) — After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in…Read the Rest of Article
Tags: bankruptcy, cit
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Contact a Texas Mortgage Company so that you can take advantage of the First Time Home Buyer Tax Credit of $8,000. —- By Adam Van Brimmer, RIS Media RISMEDIA, November 2, 2009—(MCT)—Local real estate professionals hear a clock ticking, and they’re sure it’s wired to the economy. The federal government’s first-time homebuyer tax credit is…Read the Rest of Article
Tags: 8k tax credit, obama tax credit, tax credit extension
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Jumbo mortgage tax break? By Kay Bell • Bankrate.com Monday, Oct. 19 Here’s an interesting tax juxtaposition. While inflation has been so low that personal exemptions and standard deduction amounts will be basically unchanged in 2010, the IRS has decided that homeowners with million-dollar mortgages can write off a bit more of their interest. In…Read the Rest of Article
Tags: jumbo loan texas, jumbo mortgage, taxes
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