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Monthly Archives: July 2010

Credit Rescoring Can Help You Qualify For A Mortgage

Call it the great real estate disconnect of 2010: Mortgage rates have been at half-century lows and home prices have stabilized, but applications for mortgages to buy houses have declined most weeks during the last three months, as measured by the Mortgage Bankers Assn. What’s going on here? Shouldn’t 30-year fixed-rate loans well below 5% Read More

Remember Jumbo Loans? They’re Back!

Amid all the double-dip discussions in the housing market is an odd ray of hope on the high end. With little to no fanfare, it appears jumbo loans are not only getting cheaper, they’re getting easier to obtain. After several years of stagnation in high-end housing, thanks to the disappearance of the jumbo market, things Read More

Fannie Mae To Prohibit Lenders From Changing Home Appraisals

Picture this: You’ve signed a contract to sell your house. Your buyers say they’ve nailed down the right mortgage. All is well. But then the appraisal comes in low — $25,000 to $50,000 under what was agreed in the contract. The buyers refuse to pay a dollar more than the appraisal, you decline to go Read More

Home Shortages Could Develop As Recovery Unfolds

Sooner or later, the economy will rebound, jobs will return and new households will form. When that time comes, however, there might not be enough housing to accommodate all the new family formations. At a time when millions of foreclosures have flooded the market, and millions more are said to be in the pipeline, talk Read More

Homebuyer Credit Extension Heads To Obama

First-time homebuyers will have until Sept. 30 to close on their purchases and land an $8,000 tax credit under a bill passed by the Senate late Wednesday.  President Obama is expected to sign the bill, which was overwhelmingly approved by the House on Tuesday. The deadline had been June 30. The bill doesn’t help anyone Read More