Tag Archive

Twas the Night Before March 4: Mortgage Eve

By Rhonda Porter

Twas the night before more information to follow about the new refinances and cram downs …almost too much  to swallow.  Okay…I’ll stop with the rhyme simply because I can’t keep it going!   There are a lot of Mortgage Professionals and Homeowners waiting to hear if they will be helped tomorrow.  According to the White House Blog, responsible upside down home owners with... »

Friday’s Rates

By Rhonda Porter

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties).  The conforming rate quote below is based on owner occupied with a mid-low credit score of 740 or higher, “full doc” purchase with a sales price of $500,000 and a loan amount of $400,000 single family dwelling (non condo).  This scenario includes reserves... »

$8,000 Homebuyer Tax Credit

By ARDELL

Looks like the $8,000 Home Buyer Tax Credit is now signed, sealed and delivered. Update: Everything you wanted to know about the 2009 home purchase $8,000 credit. (There is a similar link below for the 2008 $7,500 loan/credit) Zillow reports it is a FULL $8,000 credit, even if the buyers total tax liability is less than... »

Bank Bailout and Stimulus News Roundup

By Jillayne Schlicke

Bloomberg is reporting that the $15,000 tax credit has been mostly dropped from the stimulus bill. Hat tip CR: “Asked what a proposed $15,000 tax credit for homebuyers looks like in the compromise plan, Baucus laughed and said, “not much.” He said that proposal has largely been dropped, though he didn’t provide details.” Share this post! CR... »

Buyer Beware!!! – $8,000 Tax Credit?

By ARDELL

UPDATE: signed and passed 2/17 at $8,000. See more details here. Original post below does not indicate the change to “must not have owned a home during the last 3 years” which was added to the final bill before it was passed. ********* If you are currently in the process of buying a house, be aware that... »

2009 $8,000 “1st time” buyer credit

By ARDELL

IMPORTANT UPDATE!  Bill signed on 2/17/2009. Original post below: Back in October, I wrote this post about the repayment feature of the 2008 $7,500 1st time buyer “credit”, including this link to more information as to who qualifies, and the terms of the “credit”. Yesterday on Twitter I noticed Ryan Hukill’s post referencing Kenneth Harney’s article suggesting that: “… Congress... »

Joe Sixpack and the Subprime Crisis

By ARDELL

digg_url = 'http://www.raincityguide.com/2008/10/11/joe-sixpack-and-the-subprime-crisis/'; The Subprime Crisis is a broken promise to Joe “Sixpack”. One Day in early 2006, Joe was feeling pretty darned good about himself. He was making $65,000 a year at a job he held for over 6 years. He had $30,000 saved up in the bank. He had no credit card debt. He owned... »

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