Jeffrey Tung's Real Estate Blog » Mortgage http://jefftung.net Realty World - Success Plans, Inc. Serving you since 1986 Mon, 30 Apr 2012 22:27:48 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Senate proposing to make financing harder http://jefftung.net/2011/05/29/senate-proposing-to-make-financing-harder/ http://jefftung.net/2011/05/29/senate-proposing-to-make-financing-harder/#comments Sun, 29 May 2011 19:47:21 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=518 The Senate is proposing to change the FHA down payment to 5% and decrese the loan limits.  Why make it harder to qualify for a loan when FHA is critical in providing affordable financing to help decrease the growing foreclosed properties.  Currently the nation’s largest lending institutions own more then 872,000 homes which is twice that of 2007.  It will take 400 days for lenders to foreclose on the home and 176 days to sell it.  This will make our recovery even slower.  Although financing isn’t the only factor to a recovery, it is one of the most important factor to decrease the ever growing inventory.

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]]> http://jefftung.net/2011/05/29/senate-proposing-to-make-financing-harder/feed/ 0 Fannie offers to pay closing cost http://jefftung.net/2011/04/17/fannie-offers-to-pay-closing-cost/ http://jefftung.net/2011/04/17/fannie-offers-to-pay-closing-cost/#comments Mon, 18 Apr 2011 00:03:08 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=493 If you plan to purchase a home in the near future, you might want to speed up the process in order to have 3.5% of your closing cost paid by Fannie Mae.   That’s right, Fannie Mae is trying to decrease their inventory of REOs.  If you close on a HomePath property by June 30, 2011, you’ll be able to save 3.5% of the purchase price in closing cost.   So act now!!!! 

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]]> http://jefftung.net/2011/04/17/fannie-offers-to-pay-closing-cost/feed/ 0 Delinquencies Continue to Decline http://jefftung.net/2011/03/28/delinquencies-continue-to-decline/ http://jefftung.net/2011/03/28/delinquencies-continue-to-decline/#comments Mon, 28 Mar 2011 22:41:57 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=475 For the third month in a row, mortgage lates, 90 days or more, have declined.  This could be another sign of recovery.  With fewer defaults, the inventory level of REOs and short sales should go down as well.  Could this be the bottom or is it a double dip situation.  Only time will provide us with an answer.  Either way, now is still a good time to purchase real estate. 

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]]> http://jefftung.net/2011/03/28/delinquencies-continue-to-decline/feed/ 0 6 reasons to shop around for the best interest rate available! http://jefftung.net/2010/08/26/6-reasons-to-shop-around-for-the-best-interest-rate-available/ http://jefftung.net/2010/08/26/6-reasons-to-shop-around-for-the-best-interest-rate-available/#comments Thu, 26 Aug 2010 22:30:09 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=281 Everybody has gone shopping for one thing or another so this should apply to mortgage loans too.  By taking the time to shop around for the best rates available, you could be saving thousands of dollars during the life time of the loan.  So it pays to be aware of the cost associated in obtaining a loan.  Not to mention, you will be more confident about affording and purchasing that home that says “buy me”. 

After all, purchasing a property could be the most expensive thing you buy in your life time.  Why not take the plunge now?  With the lowest interest rates ever available and lots of homes to choose from, plus slow economic recovery of the market, this is the best time to do so.

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]]> http://jefftung.net/2010/08/26/6-reasons-to-shop-around-for-the-best-interest-rate-available/feed/ 0 What can you do to avoid forclosure? http://jefftung.net/2010/08/09/what-can-you-do-to-avoid-forclosure/ http://jefftung.net/2010/08/09/what-can-you-do-to-avoid-forclosure/#comments Mon, 09 Aug 2010 23:02:17 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=272 Having a hard time keeping your payments up? If you’re like millions of people facing the thought of loosing their home, here are some options from Fannie Mae, that may help your situation. A little knowledge goes a long way.  You may be surprised to know that there is a way for you to keep your home.

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]]> http://jefftung.net/2010/08/09/what-can-you-do-to-avoid-forclosure/feed/ 0 Did you know FHA loans are assumable? http://jefftung.net/2010/07/06/did-you-know-fha-loans-can-be-assumable/ http://jefftung.net/2010/07/06/did-you-know-fha-loans-can-be-assumable/#comments Wed, 07 Jul 2010 02:45:39 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=231 FHA loans have been around for a long time, however, it is more popular these days then ever before. Borrowers can qualify for a loan with as little as 3.5% of the sales price.  Here are some things to know about these types of  loans. With the way the economy is today, these programs can help you.

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]]> http://jefftung.net/2010/07/06/did-you-know-fha-loans-can-be-assumable/feed/ 0 Things to consider when buying a home http://jefftung.net/2010/06/28/things-to-consider-when-buying-a-home/ http://jefftung.net/2010/06/28/things-to-consider-when-buying-a-home/#comments Mon, 28 Jun 2010 21:21:57 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=218 You’re renting now and your lease is about to expire, do you want to stay for another year or do you think you might want to take advantage of the best buying opportunity since 1968? Well before you make a decision to purchase, there are a few things to consider before you start shopping. Once you understand what’s involved, you will feel better about making a decision to pursue the “Great American Dream of Home-ownership”.

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