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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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A Recipe for Foreclosure

January 7, 2011March 6, 2019 By Diane Gerdes

A Recipe for Forclosure….Short Sales and Private Mortgage Insurance…. Are you a real estate agent working on short sale approval for your seller? Under the best of circumstances it can be a challenge. But there could be the delays could be contributed to private mortgage insurance companies (PMI). Private Mortgage Insurance companies provide mortgage insurance to protect lenders from losses

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THEMORTGAGEADVANTAGE.COM

January 1, 2011March 6, 2019 By Diane Gerdes

Watch our welcome video and then sign up to recieve our complementary gift to you,
“The Road to Home Ownership!”

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