FHA Extends Waiver of Anti-Flipping Regulations Through 2012: In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante will extend FHA’s temporary waiver of the anti-flipping regulations. With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 days. In 2010, FHA temporarily waived this regulation through January 31, 2011, [...]

HomePath® Versus HomeSteps® What is the difference? Homepath® is offered by Fannie Mae and Homesteps® is offered by Freddie Mac Both agencies developed their specific program to assist their effort in reselling Real Estate owned properties (REO) Homepath® is an actual financing option offering financing to 97% with NO mortgage insurance and NO appraisal Expanded seller contributions towards closing costs are allowed. Available for owner occupants and investors. Homesteps® provides borrowers with a limited 2 [...]

Carbon monoxide is a silent killer, each year claiming the lives of an average of 480 people and sending more than 20,000 people to emergency rooms across the nation. Carbon monoxide (CO) is a colorless, odorless gas that is produced from heaters, fireplaces, furnaces and many types of appliances and cooking devices. Washington State requires carbon monoxide alarms to be installed in dwelling units built or manufactured in the state. They require the seller of [...]

Wait! That house may seem like everything you’ve ever wanted, but before you make an offer, take some time to consider a few things beyond the size, style and price. 1. Visit at various times of day The windows that let in so much light during the day may be a peeping Tom’s dream at night. That seemingly quiet residential street may be a noisy, highway-feeder street during morning or evening rush hour; or it [...]

As the holidays approach and we are kicking into high gear for shopping, this year could be different, we can give the gift of community support. Think outside the box! Who needs another gift wrapped tie? In this article you will find great gift ideas from local area artists, small businesses, and local venues. Or better yet, use your imagination and come up with the perfect gift for your loved ones. Mix it up on [...]

Changes to VA Funding Fee ** Update** Due to a recently enacted Federal legislation, the reductions in VA Funding Fees announced on September 8, 2011 (effective October 1st) have been temporarily delayed until November 18, 2011 per VA Circular 26-11-12 Effective immediately, VA Purchase and Cash-out loans will require VA Funding Fee amounts that were in place prior to October 1, 2011. The VA Funding Fees for loans that close on or after November 18, [...]

          Something positive to announce for VA Homebuyers! Effective for loans funding after September 30th, VA has just announced that they will be reducing their Funding Fee by .75% across the board (excluding refinances). As an example, on a typical purchase price of 250K with Zero Down (first time use of program) the funding fee that will be financed into the loan amount will be reduced by $1,875.00! Just an FYI [...]

Washington, DC, August 29, 2011 Pending home sales declined in July but remain well above year-ago levels, according to the National Association of Realtors®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, slipped 1.3 percent to 89.7 in July from 90.9 in June but is 14.4 percent above the 78.4 index [...]

Mortgage News Don’t “Fall” Behind on These Deadlines This year, colder temperatures aren’t the only thing fall is going to bring. There are several important deadlines you need to be aware of, especially if you’re thinking of buying or refinancing a home. Here’s a summary of what you need to know.Expiring September 30, 2011: Super Conforming Mortgage Loan Limits When the economic crisis began a few years ago, the government temporarily increased loan limits in [...]

Welcome to the new blog!  More content is coming very soon.  For now, you can subscribe to the rss feed, connect on Twitter and Facebook, and get in touch if you have any questions.  Make sure to check back soon for more posts!