Guess what? They're all the same. While regional banks may make some up some of their own guidelines and criteria, Fannie Mae, Freddie Mac, FHA, and VA have national standards. In addition, various lenders will put their own credit overlay on top of these guidelines to lower their risk. True
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01/08/2010
Here is a link to a Yahoo article of low valuations: Low appraisals are common throughout the country and the Twin Cities real estate market. http://finance.yahoo.com/news/Foreclosures-weigh-on-home-apf-850847141.html?x=0&sec=topStories&pos=5&asset=&ccode= I can tell you from experience that the
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01/03/2010
Here is an example of an auto purchase, but it is the same with mortgages and the availability of loan products. We offer solutions to help you improve your credit so you can buy a home. If you've had a bump in the past, don't let it hold you back. Advanced mortgage planning and being proacti
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01/03/2010
How They Went Broke By Rob Minton& John Mazzara Earlier this year, I read a book titled "How They Went Broke: Bankruptcies and Money Disasters of the Rich and Famous," by Roland Gary Jones. Amid all this talk of a recovery in the economy lately, I started thinking about this book again. It strike
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01/03/2010
Signs another foreclosure wave might be coming-Time will tell! By Rob Minton& John Mazzara Much has been made of what some are calling the “shadow” inventory of foreclosed homes. The term refers to the number of homes owned by borrowers who are delinquent on their loans or in default, but hav
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01/02/2010
Here is our latest show on Metro Cable Channel 6. Our new show highlights the laatest updates on MN FHA loans, Twin Cities Real Estate Foreclosures, Minnesota Shortsales, Minneapolis VA loans. If you have questions about your home refinance or home purchase in Minnesota call Patti Mazzara at 952
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12/30/2009
They've just changed the rules on short sales, and short payoffs. As of a couple days ago, the FHA mortgagee letter has some clarification. Looks like it is as least 3 years on the short sale before you can get an FHA mortgage, unless your situation was caused by an event beyond your control.
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12/24/2009
Avoiding HUD Home Headaches:Tips On Buying HUD Foreclosures! Bidding & Buying on Minnesota HUD homes-it seems to be the hot ticket in town. However - Remember these key points to avoid problems and advise buyers: · Only primary residence buyers allowed in the first round of bidding. • Determine
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12/07/2009
Following the national trend, rates are at an all time low. If there EVER was a great time to refinance-now is the time. Consider purchasing a home in MN or refinancing. We have access to the 125% first mortgage refinance program through Freddie Mac HASP loan. What this allows us to do is ref
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12/03/2009
Rates Have Hit All-Time Low Levels Again! In case you haven't caught the news, home loan rates have done it again, dropping to their lowest level...ever. Not only has the 30 Year Fixed rate returned to its lowest all time level, rates across the board are at their lowest levels.Yes, that means, g
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12/01/2009
