I am a Wealth Creation Specialist at Four Legacies Mortgage in Iowa. We are Iowa's FIRST socially reponsible mortgage company and mortgage management practice. Read More
Trying To Time The Real Estate Market?
Don’t. You may think that you’re going to get a home while it’s at the ‘bottom’. Here’s the thing though, are you considering what your overall cost of ownership would be? More importantly, do you know what is going on in the mortgage market today that will impact you […]
FHA Seller Financed Downpayment Reform and Risk Based Pricing Authorization Act of 2008
This new bill was proposed on August 1st. It is a new bill might bring life back to down payment assistance and non-profit companies such as Nehemiah and Ameridream. The bill is H.R. 6694 and currently looks like the only hope to keep down […]
The Door is Closed on Down Payment Assistance Programs.
The News Is In
It’s official. Bush signed the Housing Rescue and Foreclosure Prevention Act of 2008. Not a big surprise, but it does mean that we’ll (hopefully) be hearing more about how lenders will phase out down payment assistance.
My guess.. and it’s a guess, is that if […]
I read a lot of mortgage industry blogs. A lot.
After finally cleaning out my feed reader, I found a great post from Alex Stenbeck’s “Behind The Mortgage“. I provided the entire breakdown of the new bill, but Alex does such a great job of cutting through the language and picking out the few points that […]
Questions, Questions
There’s a lot of uncertainty about where legislation will leave the mortgage market in the next week. With a couple of bills, things could change in a hurry. Until this bill passes - no one knows what will happen for sure.
One thing is for sure, HUD (Housing and Urban Development) does not like down […]
Can’t Come Up With A Down Payment to Buy Your Dream Home?
For a few years, just about anyone could get 100% financing on a home (assuming you could document something….). Well, times have changed and so have the popular loan programs. I’m not here to throw down a bunch of ‘Mortgage Talk’, […]
The Announcement
On July 14th, 2008 FHA will be changing a few things with private mortgage insurance (PMI). Just like Fannie Mae made mortgages higher cost, FHA is now following suit. Just in a slightly different way. Once again, they are also placing a heavy focus on credit scores and charging more for […]