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The labor market’s recovery has been a long and arduous one; considerably longer than previous economic recessions. This was a credit recession that hit the consumer and the “little guy’s” assets a lot harder than previous recessions. Companies were more reluctant to hire, frightened of more potential economic waves, crashing upon their balance sheets, together with the global crisis, as opposed to previously more domestic recessions. This economic recovery has seen many workers continue to exit the...Continue Reading!
From the U.S Department of Housing and Urban Development (HUD): Mortgagee Letter 2013-04 Signed: Carol J. Galante (Assistant Secretary for Housing - Federal Housing Commissioner) Download a copy here Subject: Revision of Federal Housing Administration (FHA) policies concerning cancellation of the annual Mortgage Insurance Premium (MIP) and increase to the annual MIP Purpose: Consistent with FHA’s ongoing efforts to strengthen the Mutual Mortgage Insurance Fund, FHA is: Revising the period for assessing the annual MIP Removing the exemption from the annual MIP for loans with terms of 15...Continue Reading!
Beginning March 4, 2013 Freddie Mac's Open Access refinance loan program through HARP 2.0 will have these changes: Unlimited LTV/CLTV LP Only 620 Minimum FICO MI Transfers Allowed All Occupancies Allowed If you cannot see the Flash PDF, view it here: HARP Open Access Relief Unlimited Below is only a snapshot of Open Access and information is subject to change. Continue Reading!
What is a USDA Home Loan? A United State Department of Agriculture loan might be right for you if you want to purchase a home with no down payment. If you’re unsure about your credit rating, or have concerns about a down payment, USDA mortgage loans can give you piece of mind with super low closing costs and flexible payment options. What Types of Loans does USDA offer? Currently, there are two kinds of USDA mortgage loans available for single family households: USDA Guaranteed...Continue Reading!