Posts Tagged ‘Fannie Mae’

You’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here’s what you have to do to get your benefit:

Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract by April 30, 2010 and close by July 1, 2010.
 Decide whether [...]

Thanks to Susan O’Driscol of Princeton Capitol for this update today.
“The FHA announced changes to its guidelines yesterday. It will raise the minimum down payment required for borrowers with credit rating scores below 580 to 10%, while the down payment for higher-ranked borrowers would stay at 3.5%. The up-front MI premium is also going from [...]

This is our Fall Selling Season and statistics have been really consistent since Labor Day.  Any sales have been replaced with new listings which are being priced to sell.  Buyers have been out at Open Houses and many are looking for their second or third home as they think about coming to the coast.   Yesterday, [...]

We’re seeing signs that the Coast has hit the bottom of the Real Estate Market.  We are getting some multiple offers on well priced homes in the lower price range.  Investors are looking at the Coast for their second and third homes.  Doesn’t everyone want a Cottage at the beach?  So let’s look at what Rick Turley has [...]

We were all hoping that President Obama would put the conforming loan limit cap back to $729,750.  Hooray!!  We have several clients where this will make a huge difference to them on what they can afford.  Let’s hope that this one move is a stimulus to the housing market and that the first time home [...]

A mortgage broker we work with, Andy Block, noted in a recent email to us that he believes that we’re looking at the “beginning of the end” of the credit crisis, and that the government has sent a strong signal that liquidity would not be a problem in the future. A few of his thoughts…
Watching [...]

Alan Greenspan faults the U.S.’s approach in fixing Fannie Mae and Freddie Mac, saying the credit crisis offered an “ideal opportunity” to dismantle the mortgage giants. The former Fed chairman predicted U.S. home prices would reach their bottom in the first half of 2009.
http://online.wsj.com/article/SB121865515167837815.html?mod=djemWMP