Fox News Report – aired on Dec 2011
Featuring Greg Rand, CEO of OwnAmerica, as housing market analyst making his picks of the best real estate markets in America for investors. He focuses here on Denver.
Last week, a new FHA rule was to have gone into effect that would have mostly barred borrowers with more than $1,000, in disputed debt, from getting an FHA-backed mortgage. According to some estimates, as many as 20% of potential FHA borrowers would instantly have become ineligible. The domino effect on the economy could have [...]
Read More
This might be a solution… Earned Income Tax Credit (EITC) Here’s a link to the IRS Webpage about EITC: EITC on www.IRS.gov The Earned Income Tax Credit (EITC) is a financial boost for lower income working people. You may qualify for the first time if your financial, marital or parental status changed in 2011. [...]
Read More
This increase is scheduled to take effect on April 1, 2012. It will increase fees for Freddie Mac and Fannie Mae home loans for both new loans and refinances. It will also affect FHA loans by increasing the annual mortgage insurance premium that borrowers pay. Thanks to Bryan Johnson, Senior Mortgage Advisor with First Cal [...]
Read More
Congress has just reinstated the loan limit formula and maximum cap for Federal Housing Administration-insured (FHA) loans for two years. The provision reinstates the FHA loan limits through 2013 at 125 percent of local area median home prices, up to a maximum of $729,750 in the highest cost markets. The floor will remain at $271,050.The [...]
Read More
NEW “GREEN” ADDENDUM FOR APPRAISALS – Up until recently the “green” or energy efficient features that homeowners have added to their homes have not been included in the valuation of a home when it was appraised. The features have been a good selling point in getting the home sold but have not benefited the [...]
Read More
Since we’re this close to Halloween, I thought it would be interesting to write about this reportedly haunted house in Aspen, CO. This is the Henry Webber House, also called “Pioneer Park”. The home was built in the 1880′s during Aspen’s Silver Boom. The home is reportedly haunted by Henry’s wife Harriet, who died under [...]
Read MoreThis program is back and currently approved for a limited time. Starting 10/19/2011 and continuing for a 12 month period. FHA has made this $100.00 down payment program available for Owner Occupant buyers using and FHA loan. The requirements for this incentive are: Buyer must be an owner occupant utilizing FHA-insured financing The offer must [...]
Read MoreThe list below gives you an idea of how various aspects of your credit history affect your credit score. You will also be given some tips and pointers to help you maintain and improve your credit score. 1.) Current Credit Balances Outstanding balances have a 30% impact. What they are really looking at is your [...]
Read More