Nice, Fannie Mae just upped the ante in getting a mortgage. They announced a few days ago (late to the party but I’m busy) that they will include an incentive of up to 3.5% if a buyer uses the HomePath mortgage program. The monies can be used for closing costs and appliances. If you’re unfamiliar [...]
Get A House Through Fannie Mae HomePath and They’ll Include Incentives
February 1, 2010 By 1 Comment
Beaware of Slavery to Sovereignty operating in the Twin Cities
January 18, 2010 By Leave a Comment
A public service announcement of sorts. The TC Daily Planet has an article about a new mortgage scam/fraud making it’s way around the Twin Cities metro area. With the foreclosure rate in the metro area still soaring, struggling homeowners face a new and more sinister threat – unscrupulous scam artists. With ads claiming they can [...]
Flipper’s Rejoice? 90 Day FHA Seasoning Temporary
January 15, 2010 By Leave a Comment
Good news for local Twin Cities house flipper’s (those that buy cheap houses and put $10,000 life’s work into it and sell for massive profit or attempt) the FHA 90 day seasoning rule has been temporarily lifted starting in February 1st and running for a year. Here is the release from HUD. If you are [...]
More Skin In The Game Needed For FHA Loans
December 5, 2009 By Leave a Comment
It comes to no surprise that FHA is going to be changing it’s lending requirements in the upcoming new year. With Federal Housing Administration playing a crucial roll in propping up the housing market, they too are facing possible shortages in cash and who else to raise money from than new home buyers. Changes For [...]
Lenders Gone Wild In Minnesota
August 1, 2009 By 1 Comment
Not sure how I missed this but good series over at the Trib outlining lending in Minnesota and the small local banks that got involved in “loose” lending. Some local neighborhood subdivisions have hit a wall as far as construction goes and for some borrowers with great credit it is next to impossible to grab [...]
Don’t Get Taken For A Ride When Looking For Mortgages
July 15, 2009 By Leave a Comment
It’s definitely common to shop around mortgages, you want the best deal right? Instead of walking down to your local bank and going with the first person you see, many are finding alternative ways to shop for a mortgage online where it is anonymous for the buyer and transparent. After you apply for your mortgage [...]
Cashed Out
June 5, 2009 By 1 Comment
Whether a laugh or a cry, it speaks the truth (h/t Calculated Risk)
Mortage Rates Jolt Upwards
May 28, 2009 By Leave a Comment
Mortgage interest rates have taken an all out beating the past few days. Could mortgage rates be the next bubble? A couple of knee-jerk market reactions and here we are sitting a lot higher in interest rates than earlier in the week. Long story short, government buying up mortgage backed securities hoping to keep interest rates [...]
