A lot of talk has swirled around the $15K tax credit for all home buyers in 2009 that was proposed as part of the stimulus package. Then, reports were that the credit was paired back to $7500, but still all home buyers would receive the tax credit. And, in committee, that morphed to an… Continue Reading
I recently posted this on a national blog: Down Payment Assistance for years made FHA loans into 100% financing for lots of buyers. The 3% down payment requirement (now 3.5%) was paid by the seller instead of the buyer. The seller would pay it to a 3rd party non-profit, along with a processing fee, and… Continue Reading
The folks at iTulip have come up with a very interesting recap to last year and an attempt at a forecast for 2009. As any armchair economist can foretell, 2009 will not be a banner year for the economy, neither macro nor for a lot of individuals. Click the link above and prepare for a rather… Continue Reading
The stories are all over the news, including this one from the Associated Press, that mortgage rates are low. How low? Well, depending on where you look, anywhere from 37 year lows to All-time lows. I can tell you that from a raw rate standpoint, they are at all-time lows. So, should you refinance now?… Continue Reading
Real Estate sales and values are down all around the country. Yawn. Yeah, we all hear that every time we turn on the 24 hour newscasts. What they don’t talk about is that there should be a bottom to the housing decline; and once we hit the bottom, then the trek up should begin. And… Continue Reading
With or without points? If Sec. Paulson has his way, it may be the prevailing rate soon. The Wall Street Journal reported today that a plan is being mulled over to use the Federal Government to lower Fannie and Freddie Mac rates, as well as government insured FHA rates to 4.5% for a 30 year… Continue Reading
I saw this article this morning, and found it interesting that Atlanta was named one of the Top 10 Places to live on Yahoo Real Estate. And, it is! This article appealed more to the singles crowd, and that is very attractive now for all the reasons listed: Atlanta has a reasonable cost of living… Continue Reading
How the $700B Bailout Turned Into $7.7 Trillion Bloomberg reported that the Federal Government has now committed to throwing even more money at the economic crisis, to try to unfreeze the credit markets. And that’s equal to half the GDP from last year. It’s a big number. You know from previous posts that I was… Continue Reading
You already have an FHA loan on your home, and maybe you are in a fixed rate at 6.5%, or 7% or even a bit higher interest rate. The good news for you is that you can refinance your loan into a lower rate, and help your household cash flow during these uncertain economic… Continue Reading