Category Archives: Mortgage Info

FHA changes

RISMedia recently reported… As part of ongoing efforts to strengthen the Federal Housing Administration’s (FHA) capital reserves, FHA Commissioner David H. Stevens announced a new premium structure for FHA-insured mortgage loans increasing its annual mortgage insurance premium (MIP) by a … Continue reading

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The issues with mortgage payers

We read too often about the foreclosures of homes – but what about the folks who are making payments to houses that are no longer worth what they owe? RISMedia posted an interesting article today on the impact that mortgage … Continue reading

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Home sales rise

After a summer of bleak reports, home sales actually rose in September. It doesn’t means that the market as quite turned around but it’s a step in the right direction. According to the Minneapolis Star Tribune… The Commerce Department says … Continue reading

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Is it OK to walk away from a mortgage?

According to a recent report by Pew Research Center… A majority of Americans say it is “unacceptable” for homeowners to stop making their mortgage payments and abandon their homes, according to a Pew Research Center survey. But more than a … Continue reading

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5 Tips for Deciphering Your Home Loan’s Good-faith Estimate

Knowing how to read your good-faith estimate can help you save money on your home loan. When you’re shopping for a mortgage loan, it’s sometimes hard to understand the jargon lenders use in the good-faith estimate explaining the costs and … Continue reading

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New Lender Mandates

Keeping up with the changing real estate and mortgage regualtions has become a full time job these days. It’s tough for anyone looking to buy or sell a home. So we wanted to share the latest update from RIS Media… … Continue reading

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Leave mortgage interest deduction alone

According to RIS Media… Americans overwhelmingly oppose any action by Congress to tamper with the mortgage interest deduction, according to a new nationwide survey of likely voters commissioned by the National Association of Home Builders (NAHB). Nearly 80% support retaining … Continue reading

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Federal money for foreclosures

The U.S. Department of Housing and Urban Development spent $7 billion to help local governments nationwide rescue neighborhoods whacked by the foreclosure crisis. Both St Paul and Minneapolis took advantage of the opportunity, managed by the Neighborhood Stabilization Program (NSP). … Continue reading

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Importance of Keeping Basis Information on your Primary Residence

We want to thank our friends at BHB Advisors for sharing the following article on basis… What is basis and why is it so important to me? Simply put, basis is typically what you initially purchased your home for plus … Continue reading

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Mortgage rate is 4.36

Looking for motivation to buy your dream house? The Minneapolis Star Tribune offers one good reason… Mortgage buyer Freddie Mac said Thursday that the average rate for a30-year fixed loan was 4.36 percent this week, down from 4.42 percent last … Continue reading

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