Real estate
Minimum Credit Score for FHA Loan To Raise to 620
Fannie Mae, the mortgage insurer, announced early this week that it is revising the eligibility, underwriting, and pricing policy to support housing market liquidity and sustainability. In a statement (PDF file) released on Tuesday, Fannie Mae said that starting December 12, 2009, the minimum credit score will be increased to 620 for all loans delivered [...]
What Is FHA Loan?
The process of selling our house is moving forward. This morning, our attorney told that the attorney review has completed and now the house is officially under contract. The buyer will do the home inspection this weekend. After that we will move to Virginia and leave the house and all other matters to our agent, [...]
Why You Need To Become a Real Estate Investor
Real estate investing is one of the fastest growing industries in the world today. Though to a substantial extent the global economic recession has hit the industry, the future looks bright and thus as a real estate investor, you stand to continue gaining in the long term. In fact, some wise sage said that in [...]
Rate of Our Adjustable Rate Mortgage Will be Adjusted Next Month
When we bought our house nearly five years ago, we chose a 5-year ARM (from Countrywide BTW) over a fixed rate because we didn’t plan to stay in this 3-bedroom townhouse for 5 years. So it made more sense to get an ARM, which was about 1% less than fixed 30-year mortgage, to save some [...]
New Rule Opens Door for Online Real Estate Brokers
and home buyers could save hundreds or thousands of dollars on commissions as online real estate brokers can compete with their local counterparts more effectively.
The Justice Department yesterday announced that it has reached a tentative settlement with the National Association of Realtors on an antitrust lawsuit that accused NAR of discrimination against online real estate [...]
Reverse Mortgage Loan: Should You Apply for One?
The following is a guest contribution from Glennice Fryson, a member of DebtManagementTalk.com, a debt management forum that share’s its revenue with their members.
Recently, there has been an awful lot of talk about Reverse Mortgage Loans. There is also an awful lot of confusion surrounding this new mortgage-lending concept. Problem is, the [...]
Bank of America Introduces No Fee Mortgage
Yesterday, Bank of America introduced its no-fee mortgage program. According to their website, the new program No Fee Mortgage PLUS, which is available to home-buyers nationwide, includes the following features:
No Application Fee
No Closing Fees
No Private Mortgage Insurance Required
Close-On-Time Guarantee
Best Value Guarantee
According to a CNNMoney report yesterday, BoA also “won’t charge for private mortgage insurance – [...]
Rare Buying Opportunity for Real Estate Investors
Last week, I posted a piece on investing in real estate through REIT. The following guest article is on the same topic and is written by Tom Kerr from MortgageLoan.com.
Savvy stock market professionals know that the best time to buy is when everyone else is selling. The same holds true for real estate investing. A [...]
Have a Million?
How about replaceing your existing house with one of these (from CNNMoney.com)?
Boulder, Colorado: $1.199M, 6 bedrooms, 4 baths, and 6387 sq ft.
How Safe is Your City? Here’s the Best, Worst, and in Between
When buying real estate, everybody knows "location, location, location." However, the difference between locations shouldn't just be neighborhoods in the city, the city itself should also be on your mind. You certainly don't want to live in one of those "most dangerous" cities, even though you may find a perfect location in the city.
Morgan [...]
