Loan-level pricing adjustments are mandatory loan fees based on a borrower's specific default risk. First introduced in 2008, LLPAs were Fannie Mae's and Freddie Mac's logical response to massive balance sheet losses. At the time, the housing market was.......   Read the COMPLETE BLOG POST HERE: Simple Real Estate Definitions : Loan-Level Pricing Adjustments 12/16/2010

The November 2010 monthly Orlando real estate market statistics have been reported by the Orlando Regional Realtor Association.  Here is a direct link to the full report details. Below is a breakdown of the numbers. This covers Orange County and Seminole County Florida, including the cities of Orlando, Winter Park, Maitland, Windermere, Apopka, Ocoee, Altamonte Springs, Longwood, Sanford, Casselberry, Oviedo, Winter Springs, and Lake Mary.                  Inventory    New Listings    New Pendings   Under Contract     Closed    Days on Market Nov 2009       16,002        3758                 3023                 8633                 2329           85 Aug 2010      16,535         4146                 3892                 8945                 2566           83 Sept 2010     16,359        ... 12/15/2010

  Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged within in its target range of 0.000-0.250 percent. In its press release, the FOMC noted that since November's meeting, the "economic recovery is continuing", but at a pace deemed too slow to make a material impact on unemployment rates. It also said that household spending in......   Read the COMPLETE BLOG POST HERE: A Simple Explanation Of The Federal Reserve Statement (December 14, 2010 Edition) 12/14/2010

  The Federal Open Market Committee holds a one-day meeting today, its 8th scheduled meeting of the year and 10th overall. The FOMC is part of the Federal Reserve, the government group that sets U.S. monetary policy. The Fed's primary policy-setting tool is an interest rate known as the Fed Funds Rate.  The Fed Funds Rate is the interest rate at which banks borrow money from each other.  2 years ago Thursday, in an effort to jump-start the economy, the FOMC met and voted to lower the Fed Funds Rate to.....   Read the COMPLETE BLOG POST HERE: Make A Mortgage Rate Strategy Ahead Of Today's Fed Meeting 12/14/2010

  BusinessWeek recently released its America's Best Place to Raise a Family list. Chicago suburb Tinley Park, Illinois, topped the list. 2010 marks the second straight year that a Chicago suburb took top honors. Last year's winner was Mount Prospect, Illinois. The BusinessWeek survey uses data from Onboard Informatics, compiling statistics in......   Read the COMPLETYE BLOG POST HERE: Rankings : America's Best Places To Raise A Family (2010) 12/13/2010

Facts About Identity Theft: It's estimated that there were 10 million victims of identity theft in 2008, and 1 in every 10 U.S. consumers have reported having their identity stolen. The U.S. Department of Justice reported in 2005 that 1.6 million households experienced fraud not related to credit cards (i.e. their bank accounts or debit cards were compromised). And, the U.S. DOJ also reported that those households with.....   Read the COMPLETE BLOG POST HERE: Ten Things You Can Do To Protect Your Identity   12/13/2010

  Fannie Mae rolls out new mortgage guidelines Monday. Therefore, if you're in the process of applying for a conforming home loan, consider giving your complete application by the close of business Friday. All Fannie Mae applications taken on, or after, December 13, 2010, are subject to the changes. As compared to......   Read the COMPLETE BLOG POST HERE: Fannie Mae Guidelines Change Monday. Apply Today To Lock In To "Old" Rules. 12/10/2010

  Last quarter, with home prices still relatively low and mortgage rates making new, all-time lows almost weekly, the cost of home ownership was extraordinarily low in Florida and most U.S. markets. According to the National Association of Home Builders' quarterly Home Opportunity Index, 72.5 percent of all new and existing homes sold between June-September 2010 were affordable to families earning the national median income. This ties the all-time high for home affordability, set in the first quarter of 2009. The data also underscores that, when compared to......   Read the COMPLETE BLOG POST HERE: Home Affordability Reaches Record-Levels... Last Quarter. 12/09/2010

  Looking for an extra 2010 tax deduction? Consider making your January mortgage payment a few days early. It's a simple strategy that works because of how mortgage interest works. Unlike rent which is paid in advance at the start of a month, mortgage interest is only paid after it's been borrowed. Your January mortgage payment, therefore, accounts for.....   Read the COMPLETE BLOG POST HERE: Boost Your 2010 Tax Deductions By Making Your January Mortgage Payment A Little Bit Early 12/08/2010

Sutton Place Altamonte Springs Sutton Place Altamonte Springs is a brand new Town Home community located in Altamonte Springs off Pearl Lake Causeway just steps from Hwy 436 and Hwy 434. The pricing starts at $119,000-$147,000 for 1584- 1676 square footage of space with attached 2 car garages. There is a private gate with residence access only and a large community pool  Several units come with outdoor balconies. The location for Sutton Place Altamonte Springs is excellent being located close to two of Orlando's main access roads. Within a surrounding one mile radius, owners can find Publix, Winn Dixie, Sports Authority, Walmart, Costco, Target and various well known restaurants. Pearl Lake Causeway allows close access to Interstate 4 and HWY 429 to reach South Orlando and the Disney At... 12/08/2010

  The Pending Home Sales Index surged 10 percent in October as low mortgage rates and low home prices spurred Orlando buyers into action. A "pending home sale" is an existing home under contract to sell, but not yet closed. The Pending Home Sales Index is at its highest level since April 2010 -- the contract deadline date for this.......   Read the COMPLETE BLOG POST HERE: Pending Home Sales Index Points To A Budding Seller's Market 12/07/2010

 Activated by infrared waves, motion-detector lighting can illuminate a dark driveway, a dark sidewalk, and a dark yard, thwarting would-be thieves while also giving homeowners a lit, safe path to their own front or back door. If your home is not already equipped with such lighting, this video from Lowe's will be helpful. It's a step-by-step tutorial on how to.....   Read the COMPLETE BLOG POST HERE: How To Install Motion-Detector Lighting On Your Home 12/06/2010

Knowing what questions to ask your lender during or before the loan application process is essential for making your mortgage approval process as smooth as possible. Many borrowers fail to ask the right questions during the mortgage pre-qualification process and end up getting frustrated or hurt because their expectations were not met. Here are the top eight questions and explanations to.....   Read the COMPLETE BLOG POST HERE: Top 8 Things To Ask Your Lender During The Application Process   12/05/2010

  It's been a wild 30 days for home affordability. Since the Federal Reserve's November 3 press release, in which our nation's central banker committed $600 billion to bond markets, mortgage rates have leaped, moving quicker than the news can report them. This week is....   Read the COMPLETE BLOG POST HERE: Understatement : Freddie Mac Says Mortgage Rates Rose Last Week 12/05/2010

  Mortgage rates are rising, up nearly 1 percent since mid-October. Tomorrow, rates could rise again. The Bureau of Labor Statistics releases the November jobs report at 8:30 A.M. ET Friday. With a stronger-than-expected reading, mortgage rates should continue their climb, harming home affordability across Florida and nationwide. And already, Wall Street is.....   Mortgage Rates Rapidly Rising On Jobs Data; More Risk Ahead For Friday 12/05/2010

  Standard & Poors released the September Case-Shiller Index Tuesday. The Case-Shiller Index is a home-value tracker. The report shows home prices down 0.7% from August and values fading, in general. Case-Shiller representatives assessed the findings as "another weak report; weaker than last month", citing deterioration in 18 of 20 tracked markets. Upward pricing momentum from.....   Read the COMPLETE BLOG POST HERE: September's Case-Shiller Index Reflects A Slowing Housing Market 12/01/2010

  After posting a strong September, the number of newly-built homes sold nationwide slipped in October. Total units sold on an annual basis dropped by 25,000 from September; supplies of new homes climbed 0.7 months. Home supply is back to its rolling, 6-month average of 8.6 months. Like everything else in real estate, however, the October's New Home Sales results varied by.......   Read the COMPLETE BLOG POST HERE: New Home Sales Slip In October 12/01/2010

    Preventative care will minimize your home repair costs and, at this time of year, it's a good idea to sweep your home's exterior for sign of air leaks and drafts around windows. According to the U.S. Department of Energy, drafty windows can account for   Read the COMPLETE BLOG POST HERE: How To Find Air-Leaking Windows And Seal Them 11/29/2010

By committing to a mortgage loan, the borrower is entering into a financial agreement with a lender to pay back the mortgage money, with interest, over a set period of time. The borrower's monthly mortgage payment may change over time depending on the type of loan program, however, we're going to address the typical 30 year fixed Principal and Interest loan program for the sake of breaking down the individual payment components for this particular article about an amortization schedule. On each payment that is made, a certain amount of interest is taken out to pay the lender back for the opportunity to borrow the money, and the remaining balance is......   Read the COMPLETE BLOG POST HERE: Understanding An Amortization Schedule 11/28/2010

  The Federal Reserve released its November 2-3, 2010 meeting minutes Tuesday afternoon. Mortgage rates in Florida have been on the move since. The Fed Minutes is a comprehensive review of Federal Open Market Committee meetings; a detailed look at the debates and discussions that shape our country's monetary policy. The report is published 3 weeks to-the-day after the FOMC adjourns. Fed Minutes add depth to......   Read the COMPLETE BLOG POST HERE: Fed Minutes Help Push Mortgage Rates To 4-Month High 11/26/2010