Picking Up the PACE

A bill aimed at regulating loans created by the Property Assessed Clean Energy (PACE) program is making national industry headlines. The PACE Act of 2017 aims to amend the Truth in Lending Act, a chief regulation governing big banks and mortgage companies, to include PACE lenders. If the bill is passed, PACE lenders would be […]

April Home Sales Surge, Foreclosures Drop

This just in: after disappointing March data, new home sales surged in April. The Census Bureau and the Department of Housing and Urban Development reported this week that sales were at a seasonally adjusted annual rate of 619,000. This is an increase of 16.6% from the previous month and 23.8% higher than in April of […]

Is An FHA Loan The Right Choice For You?

Today, home buyers are faced with a plethora of mortgage options presented by qualified lenders. These include traditional fixed rate mortgages, adjustable rate mortgages, and interest only mortgages. Unfortunately qualifying and obtaining a mortgage is no easy feat. Anyone looking to own a home is taking on significant debt, and if their credit score is […]

Obama Has Cut FHA Mortgage Insurance Premiums

Obama Has Cut FHA Mortgage Insurance Premiums President Barack Obama announced a major step taken by his administration to make mortgages more accessible and affordable to lower-income buyers. The president targeted the mortgage insurance premiums in his attempt to make homeownership more accessible to low income buyers. This reduction of the premiums is the latest […]

FHFA Is Noticeably Easing Mortgage Standards

Mel Watt, director of the Federal Housing Finance Agency (FHFA), recently announced extensive plans to expand the access of homebuyers to mortgage loans, by easing lending standards. The current tight lending conditions governing the market are considered the main cause behind the hindering of the real estate industry. During the annual conference of the Mortgage […]

A Reminder That Mortgage Fraud Is Still Alive And Kicking

There are people who believe that mortgage fraud is a thing of the past and that bad guys have either fled to other domains, or that they have been caught. However, recent events show us that mortgage fraud is pretty much alive and well, and that there are many willing to go to great lengths […]

End of Year Mortgage Tax Statement

Unlike rent, which you pay beforehand (i.e., your Jan. 1 bill covers your stay in the rental unit for that coming month), your mortgage payments are made at the end of your occupancy period. That means your Jan. 1 mortgage statement represents interest for December, making it a tax-break-eligible bill for this year. By accelerating […]

Mortgage Insurance Refund

Premium Refund: You may be eligible for a refund of a portion of the insurance premium if you: acquired your FHA loan after September 1, 1983 paid an up-front mortgage insurance premium at closing on your FHA loan and did not default on your mortgage payments AND are within a 36 month period from the […]

How To Shop For A Mortgage

Credit Check First, you should check your credit well before you begin hunting for a home, and work to increase your score if needed, or dispute errors on your report, since those can take time to rectify. You’re entitled to a free credit report from each of the three bureaus (Experian, Equifax and TransUnion) once […]

Home Buying Process in California

Patience and Preparation Buying a home in California can be an exciting, but intimidating process. If you are a first-time homebuyer, terms like mortgage insurance, counter offer and escrow can be enough to make you reconsider the upside of apartment living. However, with a little preparation you can glide through the steps of buying a […]