ARCHIVED BLOG POSTS
2009
These days with Lending guidelines tightening as much as they have, and so much emphasis on Credit Scores, it is more important than any other time in recent years to make sure that Credit Scores are as high as they can possibly be. These days Credit Scores are playing a major part on how much m...
03/20/2009
Buying a house can be one of the most stressful experiences that anyone will ever go through. For many this stressful experience is even more stressful, because they are First Time Homebuyers, and have no idea of what to expect. Buyers will stress over: Whether their offer will be accepted or not...
03/20/2009
17
Comments
With the number of our young men and women serving overseas in recent years, we once again have a large number new Veteran’s who are eligible for VA Mortgages. Our men and women who have bravely served our country receive very little in return for putting their lives on the line, so that we back ...
03/18/2009
On May 1, a new code of conduct, the "Home Valuation Code of Conduct" (HVCC) is scheduled to be implemented for loans purchased by Fannie Mae and Freddie Mac. The objective behind this new regulation is to prohibit Loan Officers, Brokers, and any one else that has a vested interest in the appro...
03/17/2009
I have not seen a Post from ActiveRain announcing this latest change that I just noticed. We now have a New and Improved "Re-blog Button". Under the new button you will now see little green dot(s) if your blog has been re-blogged, instead of a number that use to appear to the right of it before. ...
03/16/2009
17
Comments
Tomorrow is my favorite day of the week for several reasons. It is a day of Worship and for giving thanks for everything I have been blessed with. These days with everything that is going on in the Real Estate and the Mortgage Industry, we need to be particularly thankful that we are not one of t...
03/14/2009
11
Comments
As you know, AmeriDream, Nehemiah and other Down Payment Assistance programs (DPA's) were eliminated October 1, 2008. FHA had been trying to eliminate these programs for years, and they were heavily opposed not only by the organizations that provided this service, but also by many Brokers and Lo...
03/13/2009
I was pre-qualify a borrower for a FHA Loan yesterday, and they asked me about the use of border income. I rarely come across this so I pulled out the FHA Guideline Book to see what the regulations were on this. It took me to Section 203.13 Rental Income, and in the third paragraph titled Roomm...
03/12/2009
Yesterday I wrote the first of two parts on the Homeowner Affordability & Stability plan that was released by the Obama administration on Wed March 4th. Which contained two major parts they hoped would have an impact on assisting homeowners with troubled mortgage. The first part of the plan which...
03/11/2009
The Homeowner Affordability & Stability plan was released by the Obama administration on Wed March 4th. There were two major parts of this plan that affect the Mortgage Industry. The first part of the plan is a modification program that Servicers will offer to borrowers with high debt-to-income...
03/10/2009
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George Souto
Your Connecticut Mortgage Expert