Bad News for New FHA Loan Homeowners Futures

On April 1, 2013… FHA’s ongoing efforts to strengthen the Mutual Mortgage Insurance Fund, (MIP) will now last the entire term of the mortgage loan.  The MIP amount WAS, (prior to 4-1-13), financed into a buyers monthly mortgage payment until the buyer paid in 20% on the principal, or 78% of the loan.  NOW, the MIP stays on the entire…

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Mortgage Interest Deduction

Congressional legislation extended for tax deduction for 2012 and 2013, for filers making less than $110,000 who pay mortgage insurance, which is included in your home mortgage payment, as quoted from Realtor Magazine. This tax deduction was intended to be on the “chopping block”, which primarily benefits middle income families – as reported from the National Association…

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The Chouse Home in Norman, OK

Unique Opportunity to Own and Live in Historical Church/House… The ChouseListed with Tom McAuliffe with Don Cies Real Estate…. I didn’t want to miss the opportunity to tour a December 2012, Open House for this magnificent old catholic church, now someones home.  The architectual character of this building is worth seeing. I see a perfect entertaining hall and…

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VA Purchase for Home Mortgage

Looking to use your VA benefits to purchase a house? Veteran Administration loans are going to be a preference of loan choice for veterans coming back to buy their first home… or maybe thinking of selling, and moving to their second VA purchase.  With the thought of purchasing the second home, a veteran must know that his…

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Debt Forgiveness and Short Sales

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Seek Professional Counseling from an Attorney and Tax Advice before doing a Short SaleThe Mortgage Forgiveness Debt Relief Act of 2007 is an option created by the government to help assist sellers when they can no longer afford to pay their mortgage. My suggestion is to educate yourself in this situation by going to the IRS…

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Foreclosure Filings Hit 4 Year Low

This information was providing from my favorite lender, Gina Starr with Rock Rock Mortgage and Lending.  I thought my readers would enjoy the statistics.  The housing recovery is on it’s way back. “RealtyTrac said in a report on Thursday, that the number of U.S. homes that received a foreclosure filing, fell to a four-year low in…

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Low Rates to Remain Through Mid-2013

The Federal Open Market Committee yesterday voted to keep the target range for the federal funds rate at zero to 1/4 percent.  The FOMC expects to maintain the ultra-low rates at least through mid-2013.  That’s good news to buyers searching for home mortgages on home for sale!

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