Tony 's Blog

By
Mortgage and Lending - 1st Metropolitan Mortgage
RECENT BLOG POSTS
Reverse Mortgages    If you are 62 or older and own your own home, you can continue to live in the comfort of that home and enjoy it's full appreciation while receiving monthly cash advances and long term financial security. Our Home Equity Conversion Mortgage (HECM) gives you a simple way to unl...
10/03/2008
  Action: The following Member of Congress voted NO for the bailout bill. Congressman Donald Payne of NJ. His phone number in DC is 202-225-8699. He is a members of the Congressional Black Caucus. Right now a priority list of issues to improve the bailout bill is being compiled by the Congression...
09/30/2008
Fannie Mae Eliminates Deteriorating Markets-\  Today Fannie Mae announced that they will not reduce allowable LTV limits because of declining market areas. This makes a huge impact to the housing and lending markets, because this LTV restriction forced people to use FHA lending programs if there ...
09/12/2008
  Chairman of the House Financial Services Committee, Barney Frank, has discussed publicly the fact that he has negotiated an agreement with HUD Secretary Steve Preston that will provide for the continuation of privately funded downpayment assistance. The agreement allows HUD to impose risk-based...
09/12/2008
THE SKINNY ON Why SO MANY BUYERS ARE GOING FHA in today's housing Market   WRITTEN bY: jENNIFER sCHLUETER    In recent months, I have worked with several buyers who are choosing FHA loans over conventional mortgages.  Since low rate conventional loans and 100% financing has been the majority of o...
08/05/2008
         When it comes to comparing interest rates for a mortgage loan, homebuyers often have the option of choosing a loan with a lower interest rate by paying points. Simply put, a point is equal to 1 percent of the loan amount. For example, with a $100,000 loan, one point equals $1,000. Points...
07/29/2008
Currently, the FHA has a 'one size fits all' premium structure that charges borrowers 1.50 percent of the loan balance upfront and .50 percent annually regardless of their credit standing. But the FHA felt this approach did not treat borrowers equitably and could put their insurance fund at risk....
07/18/2008
Effective today, July 14, 2008. With all new FHA case numbers ordered on or after July 14th 2008, FHA will implement risk-based premiums on one to four unit single family mortgages. This means a borrower with a 700 fico score will be paying less mortgage insurance than a borrower with a 580 fico....
07/14/2008
|  Blogging about mortgages may seem like an inexpensive way to reinforce your expertise. But if you're hit with a lawsuit, the costs can quickly add up. Miami real estate practitioner Lucas Lechuga was sued for $25 million by a developer who claimed he had been defamed when Lechuga wrote in his ...
07/11/2008
Downpayment Assistance Programs in Danger of Elimination!The Department of Housing and Urban Development (HUD) has re-issued a proposed rule that would eliminate all private downpayment assistance programs.As you know, Nehemiah has a long history of successfully protecting and advancing homeowner...
07/10/2008
Rainer
18,842

Tony Donato

smartphone(732) 586-4442
Contact The Author
Helpful information on the real estate and lending market.