Mortgage rates followed US Treasury rates lower to the lowest levels in almost two months The nuclear crisis in Japan has spurred demand for US Government debt The average rate for 30-year fixed loans declined to 4.76 percent in the week ended today from 4.88 percent a week ago The average 15-ye
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03/18/2011
Skip Schenker of the Renovation Lending Institute (http://renovationlendinginstitute.com) discusses the need for FHA 203k Renovation Loans to renovate foreclosed homes that are in poor and unsafe condition. He cites a Harvard's "Joint Center for Housing Studies" report "The State of the Nation's
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03/17/2011
Experts predict a three percentage point rate rise in the 30-year fixed rate mortgage The 30-year fixed conforming rate averages about 5% and would move to 8% increasing the monthly payment for every $100,000 borrowed from $537 to $733 Adjustable-rate loans would be much more competitive Down p
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03/16/2011
The Dept of Housing and Urban Development (HUD) will be sponsoring the "National Healthy Homes Conference" on June 20-23 in Denver, Colorado. The conference will focus on making "healthy, safe and sustainable" homes attainable for everyone. FHA will be a key player in this as first-time homebuyer
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03/16/2011
This is a great HomePath Renovation or FHA 203k loan opportunity. All construction funds are financed into the new loan, you can even finance up to 6 mortgage payments while the property is under construction and not habitable. Turn this fixer upper into your dream home. It has a large lot with a
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03/15/2011
The US Dept. of Housing and Urban Development (HUD) released a letter on March 11, 2011 that announced a major initiative to fight the health and safety hazards such as mold, lead, pest infestation and physical deteriorization of American Homes. It addresses specifically the need to "REHAB" homes
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03/15/2011
75% of all homes are bought with less than 20 percent down according to the National Association of Realtors The was from a 2010 survey of buyers and sellers Most buyers do not have the cash it would take to get a conventional loan without mortgage insurance Comparing a conventional mortgage wit
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03/15/2011
On April 18 FHA is raising the mortgage insurance pemium (MIP) it charges borrowers by a quarter of a percentage point In October, the maximum size of loans that the federal government backs is scheduled to drop to $625,500 from $729,750 FHA loan minimum down payment requirements will rise from 3
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03/14/2011
First time home buyers, real estate investors, and second home buyers are competing for REO's First-time Homebuyers must perform home inspections as property conditions can be poor The FHA 203k loan has built-in safeguards for obtaining a thorough inspection and comprehensive list of repairs For
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03/11/2011
Unpaid medical bills can cause surprising and serious damage to your credit report It's often a plain and simple case of miscommunication Insurance company and medical provider will negotiate payment of the medical bill Don't assume it has been completely paid because you have insurance A portio
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03/10/2011
