I think this is a good decision for the banks. What do you think?
Banks to Review Rejected Loans
Some banks are launching a “second look program” to review loans that have been denied in order to identify circumstances that might persuade underwriters to reverse their decisions.
The Financial Services Roundtable, a trade group of 100 financial companies, including Bank of America Corp., J.P. Morgan Chase & Co., and U.S. Bancorp. Bankers say these programs are starting to loosen the logjams that have made it so hard for both home buyers and small businesses to get loans.
"I don't think of it as being looser. I think of it as making good judgments," says Stephen D. Steinour, chairman, president and CEO of Huntington Bancshares Inc.
Source: The Wall Street Journal, Ruth Simon (09/23/2010)
"Star Treatment for Your Real Estate Needs" It is important for me to understand my client’s needs and wants so I can exceed their expectations. I’m not happy unless they are. It is essential to have a productive positive working relationship and smooth transactions.
Showing posts with label FHA loans. Show all posts
Showing posts with label FHA loans. Show all posts
Friday, September 24, 2010
Monday, October 12, 2009
A Historic Time to Buy
Young people just starting to invest and buying their first homes are potentially the winners in this recession.
First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®
"This is a historic time," says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. "It's a great opportunity to make some great gains in the future."
A study by investment company T. Rowe Price points out that investing when prices are low can result in amazing gains. For instance, between 1970 and 1990, the annualized rate of return for the S&P 500 was 11.5 percent.
"We need to be shouting from the rooftops that this is not the time to get out of the market if you're young," says Christine Fahlund, a senior financial planner with T. Rowe Price. "This is the time to be in the market."
Source: The Associated Press, Chip Cutter
First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®
"This is a historic time," says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. "It's a great opportunity to make some great gains in the future."
A study by investment company T. Rowe Price points out that investing when prices are low can result in amazing gains. For instance, between 1970 and 1990, the annualized rate of return for the S&P 500 was 11.5 percent.
"We need to be shouting from the rooftops that this is not the time to get out of the market if you're young," says Christine Fahlund, a senior financial planner with T. Rowe Price. "This is the time to be in the market."
Source: The Associated Press, Chip Cutter
Tuesday, September 29, 2009
Down Payment Assistance Programs for 1st Time Homebuyers buying in Frisco
The Housing Trust Fund offers two Down Payment Assistance Programs designed to help low and moderate income families who work in the city limits of Frisco also purchase a home in the City of Frisco.
Program #1: The Frisco Down Payment Assistance Program
(targeted to families working in the city limits of Frisco)
Families with at least one adult working full-time in Frisco for at least 6 months can be assisted in purchasing a home in Frisco.
The program provides forgivable loans of up to $10,000 to qualified homebuyers for the purpose of down payment and closing cost assistance. The homebuyers is required to pay 50% of the closing costs.
Eligible households must be first time homebuyers (with some exceptions)
Income and purchase price limits vary by family size. Household income for a family of four (4) cannot exceed $53,200 in order to be eligible for the program (see the DPA Brochure for more details)
The Down Payment Assistance Program can be used with other First Time Homebuyer Programs to help make homeownership possible for almost everyone.
Program #2: The Frisco Targeted Down Payment Assistance Program
(targeted to City of Frisco and Frisco ISD employees)
Families with at least one adult working full-time FOR the City of Frisco or Frisco ISD for at least 6 months can be assisted in purchasing a home in Frisco.
The program provides forgivable loans of up to $5,000 to qualified homebuyers for the purpose of down payment and closing cost assistance.
Eligible households must be first time homebuyers (with some exceptions).
Income and purchase price limits vary by family size. Household income for a family of 1 or 2 cannot exceed $66,500 and 3 or more cannot exceed $76,475 in order to be eligible for the program (see the TDPA brochure for more details).
The Down Payment Assistance Program can be used with other First Time Homebuyer Programs to help make homeownership possible for almost everyone.
Source:city of Frisco Texas
Program #1: The Frisco Down Payment Assistance Program
(targeted to families working in the city limits of Frisco)
Families with at least one adult working full-time in Frisco for at least 6 months can be assisted in purchasing a home in Frisco.
The program provides forgivable loans of up to $10,000 to qualified homebuyers for the purpose of down payment and closing cost assistance. The homebuyers is required to pay 50% of the closing costs.
Eligible households must be first time homebuyers (with some exceptions)
Income and purchase price limits vary by family size. Household income for a family of four (4) cannot exceed $53,200 in order to be eligible for the program (see the DPA Brochure for more details)
The Down Payment Assistance Program can be used with other First Time Homebuyer Programs to help make homeownership possible for almost everyone.
Program #2: The Frisco Targeted Down Payment Assistance Program
(targeted to City of Frisco and Frisco ISD employees)
Families with at least one adult working full-time FOR the City of Frisco or Frisco ISD for at least 6 months can be assisted in purchasing a home in Frisco.
The program provides forgivable loans of up to $5,000 to qualified homebuyers for the purpose of down payment and closing cost assistance.
Eligible households must be first time homebuyers (with some exceptions).
Income and purchase price limits vary by family size. Household income for a family of 1 or 2 cannot exceed $66,500 and 3 or more cannot exceed $76,475 in order to be eligible for the program (see the TDPA brochure for more details).
The Down Payment Assistance Program can be used with other First Time Homebuyer Programs to help make homeownership possible for almost everyone.
Source:city of Frisco Texas
Sunday, September 27, 2009
1st Time Homeowners: Cleaning House
First time homeowners: Clean house naturally with inexpensive improvements
(ARA) – You narrowed the long house-hunting search down to your favorite option, made an offer the homeowners couldn’t refuse, and are well-positioned to take advantage of that $8,000 first-time home buyer federal housing tax credit. All that’s left to do is move in.
But the excitement of making a home your own can dim the first time you open a cabinet door or look in the oven to realize not everyone shares the same commitment to good housekeeping.
Whether cleaning your new home before moving in, or looking for a way to juggle the increase in housework that comes when you move from an apartment to a larger condo or single-family home, tidying up your environment doesn’t have to be a tough or expensive task. Moving into a new place is a great time to start fresh, breaking out of old routines and trying different things, including living a more natural lifestyle at home.
“Moving into a new home can be exciting and overwhelming at the same time, but a few simple steps can ease the transition,” says Jen Singer, family lifestyle expert. “Think of it as a clean slate for your family, regardless of whether someone previously lived there.”
Start off fresh
It’s the dirty little secret of home buying – sometimes the previous owners leave a mess behind when they move out. “Even if they don’t leave a mess, you’ll still want to give your new home a good cleaning so it truly feels like you’re making a fresh start,” Singer says.
Before you settle into your new home, dust, mop and scrub everything from the ceiling to the floor. It’ll save you from feeling like you’re living in someone else’s dirt, and give you a brand new start in your new home.
Divvy the chores
You may love the fact that your new home affords you more living space, but with more space comes more chores. Start out by fairly distributing chores among family members.
“It might be fun to play with your new washing machine now, but doing all the laundry all the time will get old fast,” Singer says. “So task your spouse with grabbing a natural laundry stain remover that cleans powerfully to tackle tough stains, such as Nature’s Source Laundry Stain Remover by Shout. The line also has other natural cleaners I like to use for other chores around the home by trusted brands including Windex and Scrubbing Bubbles. They contain 99 percent or more natural ingredients; and they are affordable and available in many grocery and mass merchandise stores.”
Conquer clutter ... before it starts
It’s an unwritten law of physics – when you move into a bigger place, your furniture, clothes and other things multiply to take up all the new space. More space and more stuff can add up to clutter and ultimately, more waste.
“Resist the urge to fill your closets and counters with new things,” Singer warns. “Instead, look at new ways of using pieces you already own.”
Another clutter-cutting tactic – if you just moved boxes that you packed two moves ago and haven’t unpacked since, get rid of them. “You may not even want to open them before donating or recycling them,” Singer suggests. “After all, whatever is in them is something you’ve done just fine without for quite a while.”
Personalize with paint
Even if the sellers of your new home put a fresh coat of paint throughout the house before they left, repainting is an easy, inexpensive way to personalize your environment. “Don’t be afraid to pick colors that are a shade darker than you’d normally go for. You’ll be surprised to find how it can show off your personal style,” Singer says.
In keeping with your commitment to live naturally, look for low VOC paints, especially if you’re repainting in the winter when ventilation will be limited.
To learn more about natural living tips, visit www.NaturesSourceCleaners.com.
Courtesy of ARAcontent
(ARA) – You narrowed the long house-hunting search down to your favorite option, made an offer the homeowners couldn’t refuse, and are well-positioned to take advantage of that $8,000 first-time home buyer federal housing tax credit. All that’s left to do is move in.
But the excitement of making a home your own can dim the first time you open a cabinet door or look in the oven to realize not everyone shares the same commitment to good housekeeping.
Whether cleaning your new home before moving in, or looking for a way to juggle the increase in housework that comes when you move from an apartment to a larger condo or single-family home, tidying up your environment doesn’t have to be a tough or expensive task. Moving into a new place is a great time to start fresh, breaking out of old routines and trying different things, including living a more natural lifestyle at home.
“Moving into a new home can be exciting and overwhelming at the same time, but a few simple steps can ease the transition,” says Jen Singer, family lifestyle expert. “Think of it as a clean slate for your family, regardless of whether someone previously lived there.”
Start off fresh
It’s the dirty little secret of home buying – sometimes the previous owners leave a mess behind when they move out. “Even if they don’t leave a mess, you’ll still want to give your new home a good cleaning so it truly feels like you’re making a fresh start,” Singer says.
Before you settle into your new home, dust, mop and scrub everything from the ceiling to the floor. It’ll save you from feeling like you’re living in someone else’s dirt, and give you a brand new start in your new home.
Divvy the chores
You may love the fact that your new home affords you more living space, but with more space comes more chores. Start out by fairly distributing chores among family members.
“It might be fun to play with your new washing machine now, but doing all the laundry all the time will get old fast,” Singer says. “So task your spouse with grabbing a natural laundry stain remover that cleans powerfully to tackle tough stains, such as Nature’s Source Laundry Stain Remover by Shout. The line also has other natural cleaners I like to use for other chores around the home by trusted brands including Windex and Scrubbing Bubbles. They contain 99 percent or more natural ingredients; and they are affordable and available in many grocery and mass merchandise stores.”
Conquer clutter ... before it starts
It’s an unwritten law of physics – when you move into a bigger place, your furniture, clothes and other things multiply to take up all the new space. More space and more stuff can add up to clutter and ultimately, more waste.
“Resist the urge to fill your closets and counters with new things,” Singer warns. “Instead, look at new ways of using pieces you already own.”
Another clutter-cutting tactic – if you just moved boxes that you packed two moves ago and haven’t unpacked since, get rid of them. “You may not even want to open them before donating or recycling them,” Singer suggests. “After all, whatever is in them is something you’ve done just fine without for quite a while.”
Personalize with paint
Even if the sellers of your new home put a fresh coat of paint throughout the house before they left, repainting is an easy, inexpensive way to personalize your environment. “Don’t be afraid to pick colors that are a shade darker than you’d normally go for. You’ll be surprised to find how it can show off your personal style,” Singer says.
In keeping with your commitment to live naturally, look for low VOC paints, especially if you’re repainting in the winter when ventilation will be limited.
To learn more about natural living tips, visit www.NaturesSourceCleaners.com.
Courtesy of ARAcontent
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