As a Loan Officer with CW Mortgage who works daily in three large Real Estate offices, I hear agents speak of the challenges they face in today's market on a regular basis. Lately, I've heard several agents talk about their concern for some of their listings actually being able to appraise. This
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08/28/2008
We have seen a nice drop in rates over the last few weeks or so, roughly 0.375% on 30 year fixed rate Conforming loans (up to $417,000) and 30 year fixed rate Jumbo Conforming loans ($417,001 to $697,500 in San Diego County). This drop equates to an increase in buying power and an increase in buy
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08/28/2008
I was asked the other day if I had any travel plans this summer. I began to explain that I am an avid skier and that I do not typically take trips in the summer, saving up days for winter getaways. The more I thought about it, the more I realized that a big reason I do not leave San Diego in the
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08/28/2008
Unfortunately, the process can also be very stressful. Here are a few things to keep in mind when looking for a home that can help the process go a little smoother and hopefully keep it fun. Firstly, find a real estate professional with whom you connect. Home buying is both a financial and emot
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08/28/2008
Part of the recently passed Housing and Economic Recovery Act (HR 3221) is the new Hope for Homeowners program. This is an FHA sponsored short-sale refinance intended to allow distressed homeowners keep owner occupied homes from going into foreclosure. Although lenders are not required to parti
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08/28/2008
The recently passed Housing and Economic Recovery Act (HR 3221) has many nuts and bolts. Quite possibly the best part of the legislation is the new tax credit. This tax credit is for First Time Homebuyers (no ownership of a principal residence in the past three years; vacation or rental propert
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08/28/2008
Continued good news from the recently passed Housing and Economic Recovery Act (HR 3221). The Veterans Administration (VA) has increased the VA guaranty amount. The VA will now guaranty up to 25% of the FHA one-unit high-cost county loan limit. This means that a veteran can borrow up to $697,5
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08/28/2008
About a month or so ago, I wrote a post regarding FNMA's new stance on purchase transactions where the borrower plans to retain their current principal residence as a rental property. You may remember that if the retained property did not have at least 30% equity then lenders would not be able t
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08/28/2008
