MN Mortgage Blog

This is horrible.  Be sure to vote the bums out ASAP. Hidden taxes are just unacceptable, and that is all this is, a hidden tax on homwowners!All home mortgage interest rates are about to go up due to new hidden tax congress buried into all new mortgage loans. As part of the deal to extend a temp...

Top HUD / FHA officials are simply out of touch with what lenders are willing to do. Putting out announcement like this cause significant trouble in the industry.FHA Extends Waiver of Anti-Flipping Regulations Through 2012. Minneapolis, MN: In an effort to continue stabilizing home values and imp...

REGARDLESS OF THE NEW OR OLD GUIDELINES. EVERYONE WHO WISHES TO REFINANCE SHOULD CONTACT A MORTGAGE LENDER TO DISCUSS THEIR AVAILABLE OPTIONS UNDER THE HOME AFFORDABLE REFINANCE PROGRAM.HARP II – The Home Affordable Refinance Program has released the updated program guidelines. St Paul, MN:  The ...

Even if you think you can't refinance, if your first mortgage is up to 105% loan to value, you should contact a mortgage lender to check your options. You may be surprised!A refinance is just as easy to get as your first mortgage… right? St Paul, MN: Many people think that refinancing is easier t...

Funny, unlicensed bank loan officers always try to claim this isn't important. Your Doctor has a license, your CPA has a license, your Financial Advisor has a license, your Hair Stylist has a license, even your Realtor has a license...  So it is OK to use an UNlicensed loan officer --- I think no...

What's the value of your home? (MN & WI Only)  Many homeowners are curious about the appraised value of their home. An actual appraisal is expensive, and county tax records do NOT always reflect true market value. As you may be aware, home values are constantly fluctuating, and with the decline i...

It has been sometime now since these rules have been fully implemented, and the outcome can be evaluated... My opinion? The gap in Loan Officer quality has grown very wide. Those who can not pass muster, but in credit and education have flocked to the banks in droves. Has this helped the consumer...

QRM (Qualified Residential Mortgage) rules set in place by last years Frank/Dodd financial reform law is about to wreck what is left of the housing market and kill any recover. Wtach, learn, and contact your Congressperson before it is too late! QRM. Three letters that will wreck the housing and ...

Anytime you give something away, you are bound to attract people who don't deserve it, or will try somehow to take advantage of it. In this case, people in PRISON claimed and received the credit!IRS says First Time Home Buyer Tax Credit Was Abused The IRS says there was significant abuse and frau...

The real estate market today is one of the toughest in recent history. A large number of foreclosed homes on the market is marking it tough on the traditional home seller. While every market is different, most areas have seen a significant drop in value. The mortgage industry has tighten lending,...