‘Iowa Mortgage Help Hotline’ Is Announced

March 4, 2008

Announced earlier last week, ‘Iowa Mortgage Help Hotline’ will assist Iowan homeowners that are currently struggling with their house payments.  Recently funded by an additional $1.5 million dollar grant, the capacity will be increased on the foreclosure hotline. “We want Iowans to call the mortgage help hotline if they are currently struggling or as soon […]

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Tax Relief FAQ

March 3, 2008

First off, sorry for the short ‘vacation’.  I’ve been out and sick with the flu for the past week, still recovering as we speak. Back to tax rebates – as you’ve probably heard, many American’s will be getting a check in the coming months.  Here are the details: Married couples will get as much as […]

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Lenders Becoming More Picky, Countrywide Starts Cherry Picking

February 25, 2008

When you’re financing over 80% of a purchase price or appraised value, you’re at the mercy of two things: Lender Guidelines – Defined by GSE’s (like Fannie and Freddie) or banks/investors (such as Countrywide or Citi Mortgage) Mortgage Insurance Guidelines – Companies that carry some of the risk on money loaned over the 80%. Last […]

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Fannie and Freddie Downgraded, Prepare For a Rough Landing

February 22, 2008

According to MarketWatch, this morning Fannie Mae (FNM) and Freddie Mac (FRE) have been downgraded from ‘neutral’ to ‘sell’ by Merrill Lynch.  Apparently they are pretty bearish on the GSE’s.  Fannie and Freddie are supposed to be reporting numbers next week. Here are a couple brief quotes from the Merrill Lynch report: “Weakening macro-economic, financial […]

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Thursday Blog Watch – In Case You Missed It!

February 21, 2008

 Together we’re smarter.  Sometimes, instead of plagiarizing great posts… I’d rather just direct you to them.  Here is this week’s finds: How Mortgage Rates Went From (Relative) Riches to Rags in 30 Days by Dan Green @ The Mortgage Reports  – This really offers a great explanation of the events that have taken place in […]

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Des Moines, Iowa – Real Esate Market Watch 2/11/08 – 2/17/08

February 20, 2008

Numbers are always extremely important to consider when buying, selling and financing a home.  Each week, I receive a weekly market watch update providing the breakdown of the activity from last week.  The report is provided by Heather Barglof at Peoples Company. As I continue to get them, I will continue to post them (with […]

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What Is Mortgage Management? Pt. 1

February 19, 2008

I’m often asked about what makes Four Legacies Mortgage and myself any different from our countless competitors.  The truth of the matter is, I don’t like the answer ‘our advice is better or more timely or that we are more professional than the rest’.  These things should be required to even be in consideration (even […]

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FHA Limits Will Be Increasing After Bush Signing Stimulus Package

February 14, 2008

You may have already heard, but it’s done – Bush has signed the Economic Stimulus Bill.  The Bill will provide tax rebates between $300-$1,200.  The bill also included some changes for the lending industry. As the bill has been passed, the loan limits for conventional loans and FHA loans will be increased once they are […]

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Project Lifeline Proposes to Help Mortgage Borrowers

February 12, 2008

It’s NOT official, but today we’re expecting an announcement of ‘Project Lifeline’.  These titles really are timeless huh?  Back to the news, the new plan proposes to put a suspension on foreclosures (I refuse to use the word ‘freeze’ anymore).  Project Lifeline will have these banks participating: Bank of America, Citigroup, Countrywide, JPMorgan Chase, Washington […]

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Countrywide Recognizes They’re Not In The Property Management Biz

February 12, 2008

I’ve been saying it for years now.. Mortgage companies are in business to collect interest income on their money, not to be property managers.  The LAST thing they want to do is end up owning a bunch of property.  Thanks to Morgan over at Blown Mortgage, I’ve been enlightened with Countrywide’s most recent move to […]

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