Bernanke: Lower Mortgage Limits Are a ‘Trade Off’ Federal Reserve Chairman Ben Bernanke discusses the phase out of higher conventional loan limits. For those of you worried that the scheduled expiration of higher loan limits at Fannie Mae, Freddie Mac and the FHA will have a negative effect on the housing market by raising the [...]

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Article by Dona DeZube HouseLogic.com Think losing the mortgage interest deduction would be no big deal? We bust seven myths to show why the cost is bigger than you think. Myth #1: The mortgage deduction is just for rich people. The mortgage interest deduction helps mostly middle- and lower-income families. 65% of families who use [...]

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The Advantages of FHA Loans In many regions of the US, FHA loans have only recently come back into vogue, so a lot of real estate agents and mortgage originators aren’t familiar with this great resource. The following are a just a few of the recent changes that have made FHA loans a more attractive [...]

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Article by Jeannette Bernay HouseLogic.com FHA supports home values by providing a steady source of mortgage financing for families across the country, but criticsworry it has taken on too much risk. FHA’s mortgage insurance program comes at a cost during challenging economic times. In 2009, FHA’s financial cushion fell below where it’s required to be. [...]

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Article by Matt Dornic HouseLogic.com Does your credit score fall below the 640 to 650 range? If so, good luck getting a home mortgage or refinance throughtraditional lending channels. Since the housing market crashed in 2008, lenders have tightened their belts and turned away borrowers who have less-than-perfect credit scores or low downpayments. Luckily for [...]

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By Matt Dornic Published April 15th, 2011 HouseLogic.com Former Senator Russell B. Long famously described the concept of tax reform as “Don’t tax you, don’t tax me, taxthat fellow behind the tree!” Assuming Long’s analogy accurately describes America’s take on taxes, one can’t help but wonder: Who is that poor sap hiding in the bushes? [...]

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Mortgage Updates MPA – Mortgage Assistance Payment – The State has the program in place and loan documents are finally coming out.  Eligible borrowers should be receiving a call from the intake centers to come in and sign their loan documents.  If they are not approved the State will be contacting them. NEW/OLD PROGRAMS – [...]

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People say that “life is full of surprises.” And last week’s Jobs Report offered a few surprises of its own. But were those surprises positive, and what do they mean for home loan rates overall? Read on for details. The headline Jobs Report number showed that 216,000 jobs were created in March, which was a [...]

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“It’s not a matter of IF, but WHEN!” That old adage proved true last week as the fiscal problems in Europe came back to roost as predicted – even after being overshadowed recently by news from Japan and the Middle East. Despite all the focus on government debt in Europe, it’s important to note that [...]

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The market was smooth at the beginning of the week and is ending the week with a little volatility resulting in a little bit of a rate increase towards the end of the day.  As the Japanese market starts to stabilize, so will the other global markets resulting in mortgage rates flattening out in the [...]

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