Financing and Mortgage News

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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What are the benefits of 203K financing?

With the amount of short sale and foreclosures on the market in the Tampa Bay area, the 203K loan program may be a great opportunity to purchase a distressed property and renovate it the way you want to.  Most of these properties have been abandoned and need work. If you have the vision, and can put a … Continue reading What are the benefits of 203K financing?

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OBAMA says refinance your home. How much could you save?

APRIL 9, 2009, 8:15 P.M. ET Obama for Change (In Your Mortgage) By JOHN D. MCKINNON WASHINGTON — WALL STREET JOURNAL ARTICLE President Obama called for millions of Americans to refinance their homes, in his latest turn as salesman-in-chief for the administration’s economic policies. In a White House event aimed at building on recent hopeful … Continue reading OBAMA says refinance your home. How much could you save?

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Mortgage Rate Forecast 2009-CNBC Interview

If you’ve been on the fence about buying a home in the Tampa Bay area; you’ll want to read this news article about interest rates. It’s hard to believe in today’s economic environment, but the overall Bond market, including Mortgage Bonds, are contending with the “I” word this morning…inflation…thanks to Fed member Frederic “Uncle Freddy” … Continue reading Mortgage Rate Forecast 2009-CNBC Interview

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Credit Crisis & Real Estate Markets Report

Credit Crisis & Real Estate Markets Report Federal Reserve Board Slashes Fed Funds Rate On December 16, 2008, the Federal Reserve slashed the target range for the federal funds rate to 0%-0.25%–a clear signal that Chairman Bernanke and other members of the Board will take all necessary steps to achieve economic recovery. The press release … Continue reading Credit Crisis & Real Estate Markets Report

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Mortgage Rates Reach All Time Low-Tampa, Fl

Just a quick update on the lowest mortgage rates we’ve seen in a long time! I was sent this today: Conforming 30 yr fixed : 5.25% Conforming 30 yr fixed: 5.0% 30 yr FHA rates: 5.125% 30 yr VA rates: 5.375% JUMBO 5 YR ARM: 5.5% JUMBO 7YR ARM: 5.75% Here is what happened that … Continue reading Mortgage Rates Reach All Time Low-Tampa, Fl

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Citigroup puts foreclosure moratorium on 500,000 homeowners

Looks like there’s some good news for people who are at risk for foreclosure. If your loan is through Citigroup you may want to contact them for more information on how you can take advantage of this program. Citigroup plans to rescue 500,000 homeowners   On the heels of JPMorgan Chase & Co.’s loan modification … Continue reading Citigroup puts foreclosure moratorium on 500,000 homeowners

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