FHA Loan Limit Raised To $423,750 In Miami Dade!
Categories: Front Page, Mortgage News, Real Estate News
hiHUD announced yesterday that it has raised the FHA loan limit in to as high as $729,750 in some high cost counties. See Wall Street Journal article Go the the HUD website for a list of the new FHA loan limits for the state of Florida county by county.
As highlighted in […]
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Raising The Conforming Loan Limits
Categories: Front Page, Mortgage News, Real Estate News
hiYesterday, the US House of Representatives overwhelmingly passed HR 5140 – an economic stimulus package that includes a temporary increase in the conforming loan limit and the upper threshold for FHA loan programs to as much as $729,750 in high-cost areas. The temporary increase would last only until the end of 2008. The […]
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The New Reality of the Mortgage Industry
Categories: Mortgage News, Real Estate News
hiConsolidation of some of the larger lenders is a sign that we are approaching the bottom and an indication of the pending recovery for the mortgage industry. Look for additional announcements regarding the sale of Washington Mutual, IndyMac Bank and possibly even Suntrust. Wells Fargo continues to be the least effected by the mortgage meltdown and is […]
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$100 Oil Could Mean More Than High Gas Prices
Categories: Mortgage News, Real Estate News
hiThe price of oil briefly touched $100 per barrel yesterday, just short of the all-time inflation-adjusted high of $102.81 in April 1980.According to economic forecasting firm Global Insight, each $10-per-barrel increase in oil prices:Increases gas prices by 19 per gallonCuts consumer spending by one-third of a percentReduces employment by 100,000Adds one-half percent to consumer pricesAnd, […]
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Photos of Old South Florida
Categories: Just For Fun, Community Information, Real Estate News
hiIf you grew up in South Florida or are just interested in getting a glimpse of what it used to look like take a look at this site, Old South Florida Photos.
Enjoy and Happy New Year!
Courtesy of Larry Martin
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BankRate.com Feels The Heat
Categories: Mortgage News, Real Estate News
hiThe Bankrate.com website draws millions of visitors, as it promises to give a listing of lenders and their rate and cost offerings for mortgage loans. It even passes this information on to most of America’s largest newspapers as fact when it is actually an average of all it’s “advertised rates”. It proclaims itself to be a tool for […]
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Your Name is Being Sold How To Stop it Now!
Categories: Front Page, Mortgage News, Real Estate News
hiHere’s news you, your family and friends need to know.
Having credit checked is an important and necessary step in the home buying or refinancing process. As a matter of fact you can not get an accurate good faith estimate without having your credit pulled, but very few people realize that each time their credit is […]
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Mortgage Interest Rate Update
Categories: Front Page, Mortgage News, Real Estate News
hiAs of 10:00 a.m Friday December 7th conforming 30 year fixed rates were about 5.75% with no points, by Friday afternoon they had jumped to 6.00% a full .25% higher! Why you ask….The jobs report numbers on Friday morning were relatively tame however unemployment remained at a low 4.7% and hourly earnings up .5%, a bit higher […]
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Miami Dade Getting Tough on Mortgage Fraud
Categories: Mortgage News, Real Estate News
hiAs published in the Daily Business Review yesterday new legislation may give the mortgage fraud task force greater authority.
“Miami-Dade’s proposed changes to Florida’s mortgage fraud law, which took effect Oct. 1, would allow county property appraisers to carve out fraudulent properties from tax assessments to avoid the artificial inflation of values.
The proposed amendment would also make […]
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Banks Near Subprime Interest Rate Freeze Agreement.
Categories: Front Page, Mortgage News, Real Estate News
hiAs reported in the Wall Street Journal today a coalition of US Banks is near an agreement to freeze the interest rates on some subprime mortgages. The idea behind the freeze is that it will help many borrowers that are expected to have trouble meeting the higher payments, and may end up in foreclosure, when […]
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