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FHA Announces Yet More Changes to Mortgage Requirments

Today most mortgages are US government backed loans, and the FHA is constantly revising its requirements.  Thus it is critical to have a lender like Waterstone Mortgage who monitors and implements the daily changes or a home purchase or sale is likely not to close.  Here are the latest requirements as summarized by Waterstone. 1. Mortgage insurance premium (MIP) increase and adjustments to upfront/annual... [Read more]

Rush to Take Advantage of Low Mortgage Rates &

Looking at the national real estate market, Chris McLaughlin reported today that “borrowers are rushing to take advantage of low borrowing costs and other incentives while they last. The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending January 15, 2010.  The Market Composite Index increased 9.1 percent on a seasonally adjusted basis... [Read more]

Luxury Homes Face Short Sale and Foreclosure

The following article by Laurie Moore-Moore looks at the issue on the national level.  The same situation applies in Dane County.  See additional information below. Geoffrey Gyrisco “Growing Number of “Distressed” Luxury Loans Means Sellers Need Your Short Sale Expertise Published on Monday, September 14, 2009, 1:06 PM Last Update: 22 hour(s) ago by Laurie Moore-Moore Category:... [Read more]

Waiting for Spring to Buy or Sell is a Huge Gamble

Those waiting for spring to put their property on the market or make a purchase are making a huge gamble.  Currently 90% of all home loans have federal backing of one sort or another.  Furthermore, the Federal Reserve Board has been buying up $1.25 Trillion in Mortgage Backed Securities, holding down interest rates, making home loans especially affordable,  and providing liquidity in the home loan... [Read more]