Dan Magstadt's Mortgage Blog

  FHA has released a memo on their revised rental guidelines, otherwise known as the "Buy and Bail" memo. This recent HUD announcement is meant to help stop the practice of buying a new primary dwelling with the intention of moving in and ceasing payments on their previous primary residence.   Bo...

As most of you know, the government just introduced a huge bailout plan for Fannie Mae & Freddie Mac. Here’s my input on the situation: Fannie & Freddie were getting dangerously close to their regulator’s definition of insolvency & the fed knew that if the situation continued to deteriorate ther...

I'm sure 90% of you know that per congress's recently passed housing bill down payment assistance programs will be eliminated on October 1, 2008. Members of congress have introduced a new bill that would allow DPA programs indefinitely This is extremely important because in today's market aproxim...

Unless you've been hiding under a rock for the last year you know there are a LOT foreclosures in Florida right now and there are many more coming.  While this is bad news for the existing homeowner, this news is GREAT for home buyers.  Now is the time for first time home buyers to enter the mark...

Following is some more information on the new housing legislation. The Congressional Budget Office has issued a cost estimate for the Federal Housing Finance Regulatory Reform Act of 2008. CBO estimates that enacting the legislation would increase revenues by about $8.0 billion over the 2009-2018...

Congress approved mortgage relief for 400,000 struggling homeowners Saturday as part of an election-year housing plan that also aims to calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite reservations.The measure, regarded as the ...