Tag Archives: Texas mortgage

As US homebuilders experience a slow but steady comeback, there is guarded hope that it will bring along with it the return of a prosperous economy. On the heels of the fourth straight month in increased housing starts, and with building permits for single-family dwellings attaining its highest level since March 2010, guarded optimism is appropriate. Guarded because, although home construction typically fuel recoveries, this recovery has behaved differently. Additionally, the rest of the economy is tilting downward again making a construction-powered recovery even more difficult.

As the gains in single-family dwellings were broad-based, it looks like the house market is truly on the rise, but for how long is uncertain. The housing bubble burst in 2007 and housing sales reached their lowest point in April 2009; from there, housing has slowly struggled to return. Government tax credits helped increase home sales at the start of 2010 but by mid-year, the sales lagged again. It was not until the latter part of 2011 that they began to rise again. This recent uptick in sales and building permits bodes particularly well for Illinois, Michigan, Arizona and Texas mortgage shoppers that have been waiting for a break on new home sales. Continue reading

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FHA – The Federal Housing Authority, had a plan all worked out. They were going to change the credit rules of the game that would have affected tons of new homebuyer wannabes. Basically the changes were directed at borrowers with collection or disputed unpaid bill claims, where they would be required to resolve them one way or another, prior to any new loan closings. Borrowers would have the option of paying the debt in full or arranging an agreeable payment schedule. Simply put, if you don’t abide by the new changes, FHA wouldn’t give you a loan. Then, something strange happened; FHA had an epiphany, and decided not to “pull the plug,” basically saying: “to heck with it,” let’s leave things the way they were. Who said the Federal Government doesn’t have a heart!

Well, once this FHA loan retraction hit the streets, Texas mortgage companies were elated; it was some bad news that failed to happen, and a life preserver was tossed into the FHA mortgage lending pool. The good news side of all this was that any new homebuyer wannabes who had some concerns about not being able to qualify when applying for an FHA loan via Texas mortgage companies became a mute point. Continue reading

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The ever changing landscape of the housing market can make it very confusing if you are in the market to buy a home. What are mortgage lenders looking for as far as income, and what kind of down payment is required these days? In a minute you will have a much clearer picture about these subjects.

Low Prices – Low Interest Rates

You would think that with housing prices at 10 year lows and interest rates at all time lows buying a house would be a snap, but it doesn’t seem to be the case. Lenders are not as eager to loan money these days and requirements are tighter.

FHA – Federal Housing Authority – This is a government agency that is helping people get into homes. Lets look at a few of the basic requirements:

- 3.5% down payment (credit score above 580)
- 10% down payment (credit score below 580)
- At least two years on the job
- Mortgage payment s/b about 30% of monthly gross income Continue reading

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Many Texas homeowners will benefit from the federal-state settlement funds in order to save their homes from foreclosure or give them some relief due to a foreclosure. Homeowners who owe more on their mortgages then the house is worth will be able to get some relief on their mortgage financing. Up to a million people could benefit from the settlement packages.

Distressed homeowners are receiving this settlement offer because it was found that the banks and lending services had signed foreclosure papers without reading the papers. It was also found that no notary had signed off on the paperwork which is required in foreclosures.

Banks will have a new set of guidelines that they must follow in order to prevent the poor practices of the past years from affecting the mortgage market of today. Texas homeowners who were foreclosed on between 2008 through 2011 should apply for the settlement relief. Continue reading

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With the cost of renting on the rise in Texas, it’s no wonder there has been an increase in the number of people interested in home ownership. In many situations, there is a lending program available that is cheaper or similar in price to the cost of renting. The difference is in the investment.

Paying rent for several years, only to move out and have nothing to show for it, simply does not make sense. With a Texas mortgage, it’s possible to own a dream home and still stay within the necessary price range, and there’s the added benefit of being a home-owner.

It is also possible to mortgage properties that are already owned in order to lower the monthly payment and free up a little extra cash every month. With the economy in the shape that it’s in, everybody is looking for a way to save money and invest what they have. A Texas mortgage could help accomplish both of these goals.

Now is the time to act, for interested home-buyers and refinancers. There are several factors that go into choosing the right time to buy or refinance a home, and 2012 is about as good as it’s going to get. The prices in the housing market are at rock bottom, interest rates are at an all-time low, and the future of the housing market is promising. Now is the time to get into a home at the lowest possible cost and make the most on the investment in the future. Timing is everything. Continue reading

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The markets have surprisingly taken a better turn in 2012. Rally in the different markets is expected as the job sector is recovering. More and more people are finding permanent placement in their field of work. As a result, new … Continue reading

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Foreclosures and Texas mortgage lenders are at crossroads with the decline in thedemand for housing. Some homeowners are complaining that the lenders may not actually own the note for the mortgages. The loans were issued when the economy was better … Continue reading

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Any way one look at it, mortgage fraud is a crime. When purchasing a Texas mortgage, one needs to be careful of the lenders they go through. Lending companies are popping up all over the place due to low rates … Continue reading

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Mortgage insurance, also known as financial guaranty, or mortgage indemnity guarantee, is an insurance policy that protects the bank and the debtor from delinquency. This indemnity is usually purchased at closing and guarantees the lender that the conditions of the … Continue reading

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Homeowners associations began in Texas somewhere in the last two decades. They originally started as an asset to the municipality, providing help in maintainingproperty owned by developers. Once the city saw the opportunity it presented for homeowners to assume the cost … Continue reading

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