Time is a runnin’ out! Here is one last call to all you FIRST-TIME HOME BUYERS! Don’t delay. Get those offers in ASAP.  As I am sure you have heard you are eligible for up to an $8000 tax credit on your 2009 tax return.  And when they say tax credit that is what it [...]

WSJOnline has a very useful chart and great article today on who qualifies for the recently announced mortgage rescue plan.

Click on the image above to view full image.

Details of President Obama’s plan to help struggling homeowners was announced today. This plan was announced a few weeks ago as the Making Home Affordable initiative. From the details which were announced today this plan helps two types of homeowners  and applies only to primary homes. This means you can not expect any help on [...]

Home mortgage rates are trending downwards and presenting homeowners with an opportunity. Freddie Mac says rates are at their lowest levels since 2004 (from MarketWatch):
SAN FRANCISCO (MarketWatch) — Freddie Mac said Thursday that the 30-year fixed-rate mortgage average dropped from a week ago to a four-and-a-half year low as bond yields declined. The 30-year fixed-rate [...]

A foreclosure break for the holidays. Freddie is announcing a suspension to all foreclosure activity from the day before Thanksgiving to January 9, 2009. Here is what Freddie has on its website:
McLean, VA – Freddie Mac (NYSE: FRE) today announced it has ordered its national network of mortgage servicers and foreclosure attorneys to suspend all [...]

There is a scandal brewing in Washington involving members of the Senate Banking Committee and Countrywide. Apparently these guys were getting “special deals” from Countrywide and are now pleading ignorance. I guess the trick is when you’re getting special treatment the best thing to do is not ask questions. I’ll have to keep that in [...]

The temporarily increased conforming loan limits have been released. As you may recall this is part of the $168 billion Economic Stimulus Plan which was rushed through Congress last month. Here is an excerpt from the statement issued by the Office Of Federal Housing Enterprise Oversight (OFHEO):
TEMPORARY CONFORMING LOAN LIMITS RELEASED FOR HIGH-COST AREAS
Washington, DC [...]

What the market gives the market takes away. As you can see the 30 year mortgage rate is almost back to where it was earlier this year (2008). The ride back up has been very volatile, with two and on occasion three rate changes on any given day. Sometimes the changes have been in [...]

An Arizona Mortgage Guru reader asks:
Any hope for expat in Holland? We have lived overseas 8 years and want to move to Summerlin, Vegas. We have no USA credit, no debt, a high income but in Euros, and a 10% down payment. Last mortgage was in the year 2000 ($2400/mo with Countrywide).
Dear Expat in [...]

Can’t make your mortgage payment? Have you thought of maybe just burning the house down? Ask a neighbor to see if he’ll help or if you have the right tool kit you may be able to do it yourself! Either way, just burn it down and you’re home free. Oh yeah don’t forget to [...]