Financing and Mortgage News

What the NEW “Payroll Tax Holiday” May Cost Buyers In Interest Rates.

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During the holidays, you probably read or heard about the debate regarding the two month “Payroll Holiday” otherwise known as, the Temporary Payroll Tax Cut Continuation Act of 2011. If so, you know that it was passed by the Congress and quickly signed by the President.  To pay for this two month benefit, which will continue through … Continue reading What the NEW “Payroll Tax Holiday” May Cost Buyers In Interest Rates.

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Wells Fargo Doctor Home Loan Qualification Details-Tampa, Fl

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A New Financing Program Just For Doctors!  USF, Tampa General, Memorial Hospital Residency Doctors! Wells Fargo has a new Nonconforming Doctor Program which provides a mortgage for the purchase of a primary residence by qualified physicians who have completed their medical residency within the most recent 36 months. A copy of the medical license is … Continue reading Wells Fargo Doctor Home Loan Qualification Details-Tampa, Fl

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Build A New Construction Home With Little Or No Money Down-Tampa, Fl

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Guest Post by All State Homes of Tampa, Fl-A New Construction Green Home Builder since 1955   There are some people that bought vacant land because the price was right, and maybe “one day” they might build a new house. Others bought lots as an investment, and are still trying to figure out what exactly … Continue reading Build A New Construction Home With Little Or No Money Down-Tampa, Fl

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What It Means To You If Congress Caps Mortgage Interest Deductions

5 Reasons it still makes sense to buy a home: By Jeff Diercks, CPA, Tampa Fl President Obama has proposed a cap on the deduction for mortgage interest for high income taxpayers and a rollback of the recently extended Bush tax cuts. According to CNNMoney, “under his proposal, taxpayers in the 33% and 35% tax … Continue reading What It Means To You If Congress Caps Mortgage Interest Deductions

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New Lower Minimum Loan Scores Allowed for FHA Financing

Image via Wikipedia Wells Fargo has rolled out their new guidelines for FHA financing. The positive news is that anyone who needs a mortgage and has a 600 or less credit score may qualify for FHA financing based on the below criteria. Unfortunately, if you have gone through a short sale process and still have … Continue reading New Lower Minimum Loan Scores Allowed for FHA Financing

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Florida Law: How Do You Assign a Mortgage?

The 2009 Florida Statutes Chapter 701 ASSIGNMENT AND CANCELLATION OF MORTGAGES 701.02  Assignment not effectual against creditors unless recorded and indicated in title of document; applicability. (1)  An assignment of a mortgage upon real property or of any interest therein, is not good or effectual in law or equity, against creditors or subsequent purchasers, for … Continue reading Florida Law: How Do You Assign a Mortgage?

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Channelside Condos Offering Financing Attract Buyers-WTSP Interview

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By now, everyone knows how much I love the Towers of Channelside.  Ironically, I received a call at 11:30 am Sunday morning to do an interview for 10 Connects News about the announcement on the availability of financing for condos in Channelside. Thanks so much for everyone’s help at the Towers of Channelside for putting this … Continue reading Channelside Condos Offering Financing Attract Buyers-WTSP Interview

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60 Minutes News Story-What is Strategic Mortgage Default?

Strategic Default: Walking Away from Mortgages – CBSNews   A million Americans who could afford to pay their mortgages on homes `underwater` walked away instead. Morley Safer reports.   (CBS) Despite some indications that the economy is recovering, the housing market remains a disaster area. Currently, about seven million homeowners are behind on their mortgages and that … Continue reading 60 Minutes News Story-What is Strategic Mortgage Default?

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Florida Mortgage Delinquencies WORST in U.S.-Tampa Foreclosures Creating the Come Back of the BIDDING WAR.

“Florida continues to be the worst state in terms of delinquencies with 26 percent of Florida mortgages one payment or more past due as of December 31st.  20.4 percent of Florida mortgages are 90 days or more past due or already in the process of foreclosure.  Nevada is the second worst state with 24.7 percent … Continue reading Florida Mortgage Delinquencies WORST in U.S.-Tampa Foreclosures Creating the Come Back of the BIDDING WAR.

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Buyers being unfairly scrutinized by lenders-Tampa, FL

Ever hear of a “Motivation Letter?”  You may if you are trying to purchase a home in today’s real estate market. Buyers in the Tampa Real Estate market are being put under the microscope by lenders.  This is what one of my clients had to supply to get a loan approved days prior to closing.  Shocking to say … Continue reading Buyers being unfairly scrutinized by lenders-Tampa, FL

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Fannie Mae is rolling out new lending guidelines

Fannie Mae is rolling out new lending guidelines Tuesday, September 1, 2009.  Being approved for a home loan could be much more difficult. The new rules mark the first major underwriting update since April of this year.  The changes are mostly geared at fraud prevention. Among the updates: Stock options are no longer eligible for “reserves” Relocating families … Continue reading Fannie Mae is rolling out new lending guidelines

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