First-time homebuyer tax credit extended
July 14, 2010 by Jeff Thomas · Leave a Comment
The Homebuyer Assistance and Improvement Act of 2010 extends the closing date requirement for the first-time homebuyer tax credit from June 30, 2010, to September 30, 2010. This gives qualifying individuals who, prior to May 1, 2010, entered into a binding written contract to purchase a home, an additional three months to close on the [...]
Rates Have Hit All-Time Low Levels Again
May 26, 2010 by Jeff Thomas · Leave a Comment
Interest rates have rallied and improved dramatically on the heels of the recent European debt concerns…and what is most important is that due to the highly unusual set of circumstances that exist in the market, those who are acting quickly are saving.
In fact, Freddie Mac reported last week that rates have met either all-time lows [...]
Age Old Debate: Payoff Your Mortgage or Invest?
March 23, 2010 by Jeff Thomas · Leave a Comment
Why Payoff Your Mortgage
Fairfax, Virginia: Homeowners have been arguing this point since the invention of mortgages many years ago. Should a homeowner payoff their mortgage faster in order to save interest? Or should the homeowner invest that money into 401-K and other retirement vehicles to accumulate more money for retirement? The true answer lies in [...]
Life After Bankruptcy
March 14, 2010 by Jeff Thomas · Leave a Comment
Fairfax, Virginia – Bankruptcy is an uncomfortable subject for a variety of reasons. I have been talking with clients since the economy and housing crisis began over two years ago about bankruptcy. But because I am in the mortgage business and filing for bankruptcy affects one’s ability to get a mortgage I get tons [...]
Market Snap Shot for Fairfax, Virginia
March 2, 2010 by Jeff Thomas · Leave a Comment
Market Snap Shot for Fairfax, Virginia Mortgage Interest Rates and Local Real Estate
By Sigma Research
By Tuesday, March 02, 2010
Treasuries and mortgages started weaker this morning with the stock index futures pointing to a nice open in equities at 9:30. No real data this morning, the only thing on the schedule is Feb auto and truck [...]
Home Buyer’s Tax Credit About to End
February 28, 2010 by Jeff Thomas · Leave a Comment
Fairfax, Virginia
You’re probably up to your neck by now in forms and paperwork as the April 15th income tax deadline approaches. Maybe you’ve already completed your taxes, paid your bill, or are awaiting your refund check. Either way, now is the perfect time to revisit the extended and expanded Home Buyer’s Tax Credit.Why? Because now, [...]
Fannie Mae Unveils Underwriting Changes
December 10, 2009 by Jeff Thomas · Leave a Comment
Vienna, Virginia: Fannie Mae has updated its automated underwriting software recently. The changes are major and could affect how many potential home seekers actually become homeowners. Having a loan underwritten by an actual person are almost non-existent these days. Both Fannie Mae and Freddie Mac feel they are better served using their proprietary software programs. Desktop Underwriter® (DU) [...]
2009-2010 Tax Credit Video
December 9, 2009 by Jeff Thomas · Leave a Comment
The Senate voted to extend the $8,000 first-time home buyer tax credit for home buyers in the Fairfax, Virginia and Alexandria, Virginia areaa. Additionally, the new bill also includes a $6,500 credit for existing homeowners who have been in their current residence for at least five years. The tax credit has been extented to November [...]
New Home Affordable Foreclosure Alternatives Program
December 8, 2009 by Jeff Thomas · Leave a Comment
Fairfax, Virginia: The Treasury Department released guidelines and updated forms on November 30, 2009 for its new Home Affordable Foreclosure Alternatives Program (HAFA) for homeowners in Fairfax, Virginia and Alexandria, Virginia area. The HAFA program is supposed to compliment the HAMP program and applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac. [...]
