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Contributed By Mark Fogarty, compliments of National Mortgage News Home Mortgage Disclosure Act figures for 2008 show that minorities were big losers in the market contraction last year. And with the current tightening in credit standards showing no signs of easing, prospects for minority lending aren’t much better for this year or next. Lenders [...] Senate leaders have agreed on an extension of the $8,000 first-time homebuyer tax credit along with a new $6,500 tax credit for move-up buyers, but it is unclear when the chamber will vote on the measure. The credit extension would run from Dec. 1, 2009 through April 30, 2010 and give buyers [...] The Obama Administration said it supports an extension of the current loan limits for Fannie Mae, Freddie Mac and Federal Housing Administration mortgages following an agreement by House and Senate appropriators to extend those limits for another year as part of the continuing funding resolution Congress is expected to pass this [...] Contributed by Frank Darras, Compliments of Producers Web These numbers have inspired the insurance industry to offer a variety of feature-rich long [...] Contributed by Brian Sacks, Compliments of Broker Universe All month we’ve talking about the little things that combined help you convert more prospects into closed deals. You know the subtle things that attract clients to you and then make them want to do business with you. This week I we’ll wrap it up and talk [...] In addition to base pay, military personnel may be entitled to additional forms of pay. Income from variable housing allowances, clothing allowances, flight or hazard pay, rations, and proficiency pay is acceptable, provided its probability of continuance is verified in writing. An additional consideration may be the tax-exempt nature of some of these payments. Handbook 4155.1: [...] For the third straight week, interest rates for the 30-year fixed rate loan being above 5% led to a continued decline in new applications, the Mortgage Bankers Association Weekly Mortgage Applications Survey found. The Market Composite Index, a measure of loan application volume, decreased 12.3% for the week ending Oct. 23 [...] Refinancings of Federal Housing Administration-backed reverse mortgages doubled in the past fiscal year as the loan limit jumped to $625,000 and interest rates fell. Seniors refinanced 8,985 FHA-insured home equity conversion mortgages in fiscal year 2009 (which ended September 30), compared to 4,435 refinancings in FY 2008. Refinancings became more attractive [...] Contributed by Chris McLaughlin of www.shortsalesriches.com Like most hidden treasures there is opportunity for huge reward for those willing and able to persevere in short sale but you will need a treasure map and key; otherwise, it’s easy to lose your way and spend years stumbling about without anything to show at the end. Depending upon [...] The National Association of Realtors (”NAR”) says that existing home sales increased nearly 10% from August to September, and that sales activity is at its highest level since July 2007. September is the fifth month to post a month-over-month gain out of the last six months. September’s 9.4% increase brings existing sales to a seasonally [...] |
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