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Set up your own accelerated mortgage plan | www.clarkhoward.com

Set up your own accelerated mortgage plan www.clarkhoward.com

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Franklin County Tax Bills

After receiving several calls from clients I came across this Article. Read the article here. Thousands of tax bills were mistakenly sent to homeowners instead of the mortgage lenders who are to pay them. If this has happened to you please contact your lender to ensure the payments are made on your behalf. Brent Diebert

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What is a no cost refinance and does it make sense for me?

Refinancing to a new lower rate may look like an expensive option until you consider a no cost refinance.  With a no cost refinance you will pay a slightly higher interest rate instead of paying closing costs.  This will allow you to lower your interest rate and mortgage payment without adding to your principal loan […]

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Defaults on FHA Loans Surpass 9%

Defaults on FHA Loans Surpass 9% Even with improvements beginning to peek through the debris of the housing crisis, mortgage defaults continue to rise at an incredible rate, and the story is no different for the federal government’s mortgage insurance agency.   The latest numbers from the Federal Housing Administration (FHA) show that the percentage […]

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Deadline for OHFA down payment assistance second mortgage set now set to expire 12/31/2009

The down payment assistance second mortgage program in Ohio has been extended through December 31st 2009.  The original deadline was set to expire the end of November.  The basic idea of this program is to allow homebuyers to get an advance on the tax credit for the purpose of down payment on a first home.  […]

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Congress Passes Homebuyer Tax Credit Extention

The first-time home buyer tax credit extension and expansion has won Congressional approval and is on its way to President Barack Obama. He’s expected to sign the measure as early as tomorrow. The U.S. House of Representatives, this morning, voted 403 to 12 to pass the measure, following Senate  approval yesterday. The extension and expansion […]

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Hud fumbles the deal for 1st Time Homebuyers

Homebuyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA’s new mortgagee letter, visit HUD’s website.This means that 1st time homebuyers still need 3.5% for down payment. If […]

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Updates from HUD on the Monetization of the stimulus for homebuyers

HUD Secretary Donovan’s statement was a “preview” ahead of the formal announcement, which is expected next week along with information about how to apply for the $8,000 bridge loan.   I will keep you up to date as the news rolls in

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FHA to help with down payment

Yesterday (May 12th 2009) Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment.  According to Donovan, the FHA’s approved lenders will be permitted to "monetize" the tax […]

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Tax credit saves tens of thousands for Central Ohio 1st time buyers

As if it wasn’t great enough having the feds giving 1st time buyers $8,000, now I have a program available that give buyers a yearly tax credit of up to $2,000 every year they have a home loan. The tax credit is 20%-30% of your yearly mortgage interest. Rates today are currently 4.875 – 5.00% […]

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