government assistance mortgage

$8000 First Time Tax Credit to End for Arizona Home Buyers

September 2, 2009

If you have been thinking about taking advantage the government’s $8000 First-time Homebuyer tax credit, you are quickly running out of time. In order to qualify for the tax credit, the purchase needs to be completed by November 30, 2009. Several things have made this date be a lot closer than you think. The Phoenix […]

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Top 4 Predictions for Real Estate Market in 2009

January 6, 2009

The New Year is not yet one week old but that’s not stopping market “experts” from predicting what’s in store for 2009. The calls on housing and mortgage rates run the gamut: Home prices have farther to fall Home prices have touched bottom Mortgage rates will dip Mortgage rates will rise Put it all together and it’s clear that the experts have no better idea about the future than you or I. Their guesses are educated ones, but they’re guesses nonetheless

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Mortgage Markets In Review : January 5, 2009

January 5, 2009

Like the rest of the country, mortgage markets were on semi-vacation last week.

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It’s 2009 : Mortgage Loan Limits Fall As Scheduled In "High-Cost" American Cities

January 2, 2009

As part of the Economic Stimulus Act of 2008 , Congress authorized a conforming loan limit increase in “high-cost” areas around the country. Versus the national conforming loan limit of $417,000, for example, a Manhattan home buyer could secure a 2008 mortgage for $725,000 and still be within “conforming” guidelines. Effective January 1, however, those limits rolled back.

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The Fed’s Parting Present For 2008 : Low Mortgage Rates

December 31, 2008

For its last move in an action-filled year , the Federal Reserve announced it will begin buying its pledged $500 billion in mortgage-backed securities next month . For home buyers and mortgage rate shoppers, the timing couldn’t be better.

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How To Shop For Mortgages In A "Vacation Week"

December 30, 2008

Mortgage markets are like any other market — in order for goods to change hands, a buyer and a seller must first reach an agreement to “trade” at a specific price point. In general, the more buyers and sellers there are for a particular item, the easier it is to find that “fair value” and make the deal. An abundant number of buyers and sellers often creates a liquid market in which assets — in this case, mortgage bonds — can be sold rapidly with minimal loss

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Mortgage Markets In Review : December 29, 2008

December 29, 2008

In a week defined by low volume and lack of conviction, mortgage markets idled ahead of the holiday last week.

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For Real Estate Investors, Finding Good Loans Is Tougher Than Finding Good Deals

December 26, 2008

With home prices falling across most parts of the country, investors in real estate are finding good value in certain rental properties. Unfortunately, they’re also finding it harder to get approved for a home loan.

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A Great Combination : Too Many Homes For Sale And Low Mortgage Rates

December 24, 2008

For the first time in over a year, the sales of “used homes” fell below the 5-million unit trendline, helping to push the total home inventory higher by 0.1 percent nationwide. Based on the rate at which homes are selling nationwide, it would take 11.2 months for the existing housing supply to be exhausted.

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The Unexpected "Tax" That The Refi Boom Places On Borrowers

December 23, 2008

In late-November, the Federal Reserve pledged $600 billion to buy mortgage-backed securities. The announcement drove down mortgage rates and started the Refi Boom. Then, the Federal Reserve made a second series of statements after its scheduled meeting last Tuesday, causing mortgage rates to plunge again

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Mortgage Markets In Review : December 22, 2008

December 22, 2008

Mortgage markets improved last week for the second week in row.

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STOP! Before You Open That Store Charge Card To Save 15 Percent…

December 19, 2008

During the holiday season, retailers bombard shoppers with at-the-register offers to “open a charge card and save 15%”.

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You’ll Get The Best Mortgage Rates If You Watch Certain Patterns

December 18, 2008

When it comes to mortgage rates, sometimes it’s better to “act now”.

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How to Shop for a Mortgage and not get Screwed

December 16, 2008

Shopping for a mortgage? How to do it Right! Publish at Scribd or explore others: Consumer Guides and Consumer tips howto Adapted from Sue Woodard’s “4 Critical Questions”

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Explaining The Federal Reserve In Plain English (December 16, 2008)

December 16, 2008

The Federal Open Market Committee voted to cut the Fed Funds Rate by at least three-quarters percent today. The benchmark rate now rests in a range of 0.000-0.250 percent.

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The Fed Funds Rate May Fall, But Mortgage Rates May Not

December 16, 2008

The Federal Open Market Committee adjourns from its 2-day meeting at 2:15 P.M. ET today. It’s widely expected that the Ben Bernanke-led FOMC will reduce the Fed Funds Rate by a half-percent to 0.500 percent.

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Mortgage Markets In Review : December 15, 2008

December 15, 2008

Mortgage markets improved last week, riding a steady stream of negative news into its best levels of the year.

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How Prepaid Items Can Make Your “Closing Costs” Look Inflated

December 14, 2008

When buying a home, you pay for more than just physical property at the closing table.  You also pay a series of charges.  Commonly, homebuyers lump all of these charges under the heading of “closing costs”. That’s a miscategorization. Many changes on a HUD-1 Settlement Statement are specifically not closing costs. They are more appropriately […]

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Simple Real Estate Definitions : Refinance

December 12, 2008

A mortgage is a contract between a bank and borrower, defining the terms by which a home loan must be repaid. The paperwork, signed by both parties, includes provisions for things like: The interest rate The length of the loan The amount of money to be borrowed But, like all loans, a mortgage loan can be paid off at any time.

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Conforming Fixed Rate Mortgages Are Now Priced Better Than Comparable ARMs

December 11, 2008

It’s the age-old question for home buyers in need of a mortgage: Which is better: Fixed or ARM? Historically, the answer has hinged on a homebuyer’s desire to meet one of two mutually-exclusive mortgage financing goals: Get low mortgage payments for better cash flow Get long-term payment stability for better budget planning But because of government intervention and lingering questions about the economy, fixed-rate mortgages are now pricing cheaper than their adjustable-rate counterparts.

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