The legislation will allow those who qualify to cancel their old mortgage loans and replace them with 30-year fixed-rate loans for up to 90 percent of the home’s current value. The FHA will insure a total of $300 billion of the loans over a three-year period.
But the decision on whether to write such a loan […]

Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year. The Pending Home Sales Index, NAR’s forward-looking indicator based on contracts signed in May, fell 4.7 percent to 84.7 from an upwardly revised reading of 88.9 in April, and remains 14.0 percent below May […]

The U.S. Senate passed a bipartisan mortgage rescue bill on Friday that allows the Federal Housing Administration to refinance troubled mortgages - even those that are under water - as long as banks agree to take a loss.
The program would allow the FHA to help as many as 400,000 homeowners.
Now the bill goes to a […]

Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year, according to the latest forecast. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, fell 4.7 percent to 84.7 from an upwardly revised reading of 88.9 in April, and […]

If your Realtor doesn’t ask you, tell your Realtor what you want in a home!

Number of bedrooms and bathrooms.
Size of the home (square footage).
Floor plan style - one level, two levels, open floor plan?
Size of garage or number of cars.
Do you want a pool or spa or both? Screened or not?
If you don’t want a […]