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 [...]
Home Buyer Tax Credit Extended for Military Personnel
June 1, 2010 by Jeff Thomas · Leave a Comment
Fairfax, VA – The popular Home Buyer’s Tax Credit has expired for all Americans, except for three very deserving groups: the brave men and women of the uniformed services of the U.S military, members of the Foreign Service of the U.S., or employees of the intelligence community who are actively serving outside of the U.S. [...]
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 [...]
Those Who Wait Will Pay Thousands More This Spring
February 3, 2010 by Jeff Thomas · Leave a Comment
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).
Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and [...]
Market Trends
January 26, 2010 by Jeff Thomas · Leave a Comment
Mr. Market seems to be wanting to move down for the second leg of the correction – I’d expect markets to continue to sell off here on the indexes, and with that will go a further drop in consumer confidence which could weigh heavily on housing in the months ahead. To see the existing [...]
The Times They Are A Changing
January 8, 2010 by Jeff Thomas · Leave a Comment
What’s ahead for home loans in 2010
This year could bring significant changes from 2009 for those seeking home loans. Over the last year, home prices fell to 2003 and earlier levels in many parts of the country. In addition, home loan rates declined to the lowest levels on record and this combination led to the [...]
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) [...]
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. [...]
The Federal Reserve and Mortgage Rates
October 16, 2009 by Jeff Thomas · Leave a Comment
Understanding What Causes Interest Rate Movement
Consumers are often misled when it comes to the subject of the Federal Reserve and how it affects mortgage interest rates. Often the media is the culprit causing the confusion. Many times, the Fed has taken action that caused mortgage interest rates to move in a direction other than what [...]
