Heather Burns's (urownlo) Blog

Mortgage and Lending - Guild Mortgage Company
  I attended a mortgage seminar today and here are just a few interesting facts! That there are no restricted markets in Washington 27.2% is the prediction that Freddie Mac and Fannie Mae economists say our business will increase in 2011! 97% is the Max Loan to Value for any loan closing with Mor...
More and more we are seeing on a conventional purchase that the property seller is using a negotiator to reduce their balance owed to the bank. If a short sale negotiator handles this they will have a fee associated with this service. Some property buyers have agreed to pay for this fee. This exp...
Garanteed Rural Housing is unable to issue Loan Note Guarantees until Congress restores the funding authority (I have not heard when this will be) Once funding is restored on these loans, there are two possible scenarios: •1.        The funding fee will remain at the present Congressionally autho...
As the 4th of July has always been one of my favorite holidays, I was easily lured into reading an article, in the June edition of Smart Money Magazine, about the ten things the fireworks industry won't disclose to the general public. Many, myself included, thought that fireworks were relatively ...
  Interest Rates have fallen....if you have any thoughts on refinancing or purchasing it is a good time!!! Call to get a current rate quote based on your personal situation.   Heather BurnsHome Mortgage ConsultantGuild Mortgage Company425-945-8035 Office206-714-3522 Cell206-577-2901 Efaxhburns@gu...
Multiple clients have asked should I wait. Here is the worry. The first time buyers that have made offers on bank owned or short sale properties have yet to hear back if their offer has been accepted. Negotiations can take weeks... and in some cases months. The time is ticking, as they need to be...
FHA is increasing the upfront mortgage insurance premium! Currently on FHA loans 1.75% is collected, effective on or after April 5, 2010, FHA will collect an upfront mortgage insurance premium (UFMIP) of 2.25%. This policy change will increase premiums for purchase money and refinance transaction...
USDA has indicated they will be "out of funds" by April 30th, 2010. At this time we are unsure of the status of the program. If this program is important to you and your borrowers it has been advised that you make contact with the following offices to express your concern over the lack of funding...
The Making Home Affordable refinance program is set to end.... This program was designed to help borrowers that are current on their home but the value of their home has decreased. When announced in March 2009, the Home Affordable Refinance Program guidelines required the Note Date for all Home A...
$8000 Tax Credit       Deadline April 30th- Close by June30th No Tax Credit                   $300,000 Purchase Price       $10,500 Down Payment $10,500       $289,500 Base Loan Amount $289,500       $5,066 Upfront Mortgage Insurance  + $1,488 = $6,514       $294,566 Loan Amount $296,014       $...

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