ComeBuyAHouse.com

…buyers beware, as short sales are plagued with delays and seemingly endless extensions of closing dates.

The Obama plan is designed to help stave off foreclosure for 7-9 million families by restructuring or refinancing their mortgages.  This will keep families in their homes, keep communities stable, and strengthen confidence in Fannie Mae and Freddie Mac. 
The Obama Plan for Homeowner Affordability and Stability
Feel free to call or email for more details.
Lynette Hensley
Associate Broker

WOW!
Purchase Money Conforming
4.375% with 1% cost and an APR of 4.488%
Purchase Money FHA
4.75% with 1% cost and an APR of 5.398%

Conforming Refinance (because we need a 60 day lock due to volumes)
4.5% with 1% cost and an APR of 4.614%

This is from one of our lenders–Met Life–Joe O’Byrne

Lynette!

The financial world is having its woes, and many of us are affected by it.  I read today that even Circuit City is reporting dismal quarterly earnings, so the Wall St mess is definitely encroaching on Main Street.
I came into the market as a real estate agent and loan officer in 1999.  For the first [...]

The Fed cut the short term interest rate by .5% today in a move to improve the housing market. The stock market responded with immediate gains of about 1.5%, showing a hopeful outlook for recovery and a soft landing for the wider economy.
From CNN Money, “The federal funds rate, an overnight lending rate [...]

 This past couple of months found a number of lenders closing their doors, and others including the largest lender in the nation, Countrywide, in tight circumstances.  Those that are still with us have made huge changes in the loan programs they are offering.  Gone are the days of low interest stated income, stated asset, 100% [...]

GSE Changes Could Ease Mortgage Concerns
The two secondary mortgage market giants Fannie Mae and Freddie Mac could help ensure stability in conventional mortgage markets if the government would temporarily lift a restriction on how much in mortgages they can hold in their portfolios, NAR told a federal regulator in a letter sent jointly with the [...]

The news is all over the place–from my lenders I get daily updates with program changes, rate changes and borrower criteria changes.  Then I also hear– “bring us the mortgages anyway–we’ll get creative”.  I’ll be honest with you–it is not as easy to get a loan as it used to be in recent years.  So — OK — they’re [...]

This article came to me in a newsletter, and I share it with you:
Industry visionary Stefan Swanepoel speaks out
RISMEDIA, August 13, 2007–The public media this past week headlined the apparent surprise “mortgage meltdown” as many reported the filing for bankruptcy protection by the nation’s 10th-largest residential financer; American Home Mortgage Investment Corp., Melville, New York. [...]

Interest and Tax Deductions
If you itemize deductions on your federal income tax returns, you may be able to deduct all the interest you pay on your mortgage loan.  (We are not tax professionals. Please consult one for your own situation.)  I have created a table that shows actual interest rates you may be paying on your [...]