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The Mortgage Advantage Corner Podcast - Arizona Mortgage Broker

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The Mortgage Advantage Corner Podcast – Welcome

January 21, 2021February 2, 2021 By The Mortgage Advantage

Welcome to The Mortgage Advantage Corner – meet April and Diane and learn a little bit as to why they each have such a passion for real estate.

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I Just Short Sold My Home

March 25, 2011March 6, 2019 By Diane Gerdes

When can I buy a new home?

The calls are coming in from former short sale homeowners that now want to reenter the housing market. The rumor that FHA will finance homes immediately after a short sale is as likely as Lindsay Lohan staying out of jail. FHA Mortgagee Letter 09-52, is very specific on their guidelines (I know, it shocked me, too, a government mandate that is clear and concise).

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Can Leprechaun Buy Homes?

March 17, 2011March 6, 2019 By Diane Gerdes

Answer: Yes and No. The Equal Credit Opportunity Act of 1974 prohibits discrimination in granting credit to individuals based on race, color, age, religion or national origin.

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Fracking Banks

March 10, 2011March 6, 2019 By Diane Gerdes

Fracking (noun, slang) – 1. the process of drilling with chemically treated water through the ground smashing through layers of rock, freeing oil or natural gas to flow to its rightful owners. 2. term used by the TV series Battlestar Galactica to replace expletive.

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Charlie Sheen and the US

March 4, 2011March 6, 2019 By Eric McAllister

Charlie Sheen, Muammar Gaddafi and Uncle Sam walk into a bar. Who will pay? Gaddafi hates America so much that all of his money is tied up in U.S. banks and investments. Charlie ranted his way out of his billion dollar T.V. show plus he isn’t sure rehab allows drinking with non-strippers. Uncle Sam is the only one of three that has a job and he can’t pay due to budget constraints.

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RIP Arizona Housing

February 25, 2011March 6, 2019 By Diane Gerdes

It’s official. Our government is slowing killing the Arizona housing market.

President Obama torpedoed the already distressed home financing industry by announcing the gradual raising of down payments to a minimum of 10% on conventional loans. He touted a 2009 survey by the Federal Reserve Bank of St. Louis that reported…

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Say Goodbye Fannie

February 17, 2011March 6, 2019 By Diane Gerdes

Goodbye Fannie Mae and Freddie Mac, Hello Wall Street
Discussions are under way to restructure the $11 trillion mortgage industry and wean Fannie Mae and Freddie Mac’s dependence from Uncle Sam’s battered pocketbook. Fannie was created in 1938 after the collapse…

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Attention FHA Shoppers

February 15, 2011March 6, 2019 By Eric McAllister

The time to buy is now as FHA Mortgage Insurance will be Increasing.
FHA Commissioner David H. Stevens announced FHA’s annual mortgage insurance premium (MIP) will increase by a quarter of a percentage point 0.25.
This will impact new loans insured by FHA on or after April 18, 2011.

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Getting a Mortgage After a Short Sale

February 10, 2011March 6, 2019 By Diane Gerdes

Question: My Client sold his home with a short sale and now wants to purchase another home. What are the options?

Answer: Fannie Mae or conventional loans up to $417,000 has finally addressed the issue of buying after a short sale. The following guidelines are effective after July 1, 2010:

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Truth in Lending

February 10, 2011March 6, 2019 By Diane Gerdes

Question: What is the Truth In Lending Statement?
Answer: In our office it is also called the “Oh, my goodness statement!”
Regulation Z or The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to protect consumers in credit transactions, by requiring clear disclosure of key terms of the lending arrangement and all costs.

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