Winter Weather And Housing
Feb02

Winter Weather And Housing

This winter has brought not only multiple snow storms, but also a cold wave that is wrecking havoc on homes and housing. Current homeowners are dealing with frozen and busted pipes, but other side effects from the Polar Vortex, and it can get costly. Future homeowners need to be diligent when buying this time of year, especially vacant homes. Preventative maintainence is the best policy so tips for winterizing a home follow: INSIDE  *...

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2014 Housing Predictions
Jan03

2014 Housing Predictions

Each year, I offer my thoughts on housing and lending for the coming year. Lacking a crystal ball or any soothsayer connections, I can offer no guarantees but hopefully can repeat the success of my past predictions. Rates will inch up. As tapering goes into effect and parts of the economy improve, investors and Fed actions will push up fixed rates. My guess is that we will break the psychologically significant threshold of 5% on...

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Housing Warnings
Nov08

Housing Warnings

As the year winds down, Housing is heating up. Not just in values but in changes coming over the next several months. If you are considering buying or selling a home in the near future, you need to be informed. Realtors, lenders, and others must also stay on top of the changes and anticipate potential hurdles. First, Fannie Mae is increasing the minimum down payment to 5% effective November 15th,2013. If you are involved in a...

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Housing Changes Coming
Oct24

Housing Changes Coming

“Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain , except death and taxes.” – Ben Franklin, 1789 Ben was certainly prescient when writing that in his letter to Jean- Baptiste Leroy , but in this world, one thing that seems to be ever changing is housing. While most are covering the new Qualified Mortgage Rule coming in...

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Government Shut Down & Lending
Oct06

Government Shut Down & Lending

As of midnight on Monday, September 30, the House and Senate were unable to resolve their differences regarding the budget , resulting in a shut down in addition to certain federal agencies furloughed. During this government furlough (I’m still wondering what defines a ” non-essential government employee”), lenders will continue to originate and close loans – if they have processed transcripts. However, please...

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Adjustable Rates Pushed By Lenders – Are They The Right Choice For You?
Aug27

Adjustable Rates Pushed By Lenders – Are They The Right Choice For You?

I get that businesses need to earn a profit, especially commensurate with the work performed. It gets a little gray when it comes to service industries, since subjectivity can come into play. With mortgage rates rising, many lenders are now pushing adjustable rate mortgages, some almost exclusively, in an attempt to keep profits rolling. However, is the best loan for borrowers? Again, subjectivity can come into play, especially when a...

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