David's Blog

 This passed the House and the Senate.  Great news for first time home buyers, and this should open up the market for the new FHA SECURE program to people with higher loan amounts.House Passes FHA Reform BillThe House has passed a Federal Housing Administration reform bill by a 348-72 vote that r...

More Good NewsSenate Panel Okays FHA ReformBy a 20-1 vote, the Senate Banking Committee has approved a Federal Housing Administration reform bill that would lower the FHA downpayment requirement to 1.5% and raise the FHA loan limit to $417,000 in high-cost areas. Reforming the FHA is going to be ...

From   http://www.fha.gov/press/2007-08-31release.cfmBUSH ADMINISTRATION TO HELP NEARLY ONE-QUARTER OF A MILLION HOMEOWNERS REFINANCE, KEEP THEIR HOMESFHA to implement new "FHASecure" refinancing product  WASHINGTON - President George W. Bush today announced that HUD's Federal Housing Administrat...

The Federal Housing Administration recently passed legislation approving a new program known as the "FHASecure" loan. This program is designed to refinance consumers who have fallen behind on Subprime ARM loans due to recent adjustments in the rate. The "Fhasecure" loan will help consumers with n...

NEW YORK (Fortune) -- Wall Street loves to talk about letting financial markets weed out the weak. But when the Street itself gets in trouble, it sticks out its little tin cup, asking for help. And gets it. The subprime-mortgage-market meltdown is a classic example of the way small fry get devour...

  Came accross this article today when I was reading Market Watch.  How to get a mortgage todayBy Gail Liberman and Alan Lavine You still may qualify for a mortgage, regardless of a shaky credit market. But you need to know the ropes because many lenders have tightened standards. So what should y...

  There have been many recent headlines about a mortgage liquidity crisis, but what exactly does a mortgage liquidity crisis mean? More importantly, how does a mortgage liquidity crisis affect the average consumer. The next few paragraphs will explain the mortgage liquidity crisis and what you sh...

Here is an email from an ABN-AMRO AE that clarifies the cut today. Thought I would share as it is good info:"Today (08/17/2007), in an unprecedented move, the Federal Reserve made anemergency Discount Rate cut of .50% (1/2 percent) in order to attempt toavert further liquidity crisis (cash shorta...

Interested to hear your thoughts on this. http://www.govtrack.us/congress/billtext.xpd?bill=h110-3081A few highlights from the link...---`(C) VERIFICATION OF CONSUMER INCOME AND FINANCIAL RESOURCES- In the case of any consumer credit transaction secured by a consumer's principal dwelling, the inc...

 What would happen if luxury home prices increased 18.0% in less than 30 days?  Sounds like 2005 all over again right? You're probably wondering if you can buy one as a pre-sale, right?What would you say if I told you that, in a way, prices have already increased that much even in declining marke...