During the fall of 2011, all HUD owned properties that are under the jurisdiction of the Denver and Atlanta HUD Homeownership Centers are eligible for the $100.00 down payment purchase incentive. What this means, home buyers in Minnesota, Wisconsin and the additional states under Denver & Atlanta’s jurisdiction can purchase a HUD Owned Property with [...]
Read more
Archive | Uncategorized RSS feed for this section
Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
January 29, 2012
5 Comments
If you live in MN and you want to use one of these sites to find your next home, you should know that approximately 20% of the homes for sale are not being shown to you. Because these sites are riddled with data inaccuracies, Edina Realty decided to pull their listings from these third party [...]
Read moreAnyone you know struggling with mortgage payments due to unemployment?
January 11, 2012
0 Comments
Anyone you know struggling with mortgage payments due to unemployment? Forbearance Terms Eased for Freddie’s Borrowers Freddie Mac gave unemployed homeowners who are struggling to pay mortgages owned or guaranteed by the company a break on Friday when it eased its temporary forbearance restrictions. Effective February 1, Freddie Mac servicers will no longer need prior approval [...]
Read moreMortgage Interest Rates, Closing Costs and Mortgage Calculators
January 11, 2012
0 Comments
You are in your jammies, its 1:00 AM and visions of new homes are dancing in your head. How much is this going to cost? What interest rate will you get? Who are you gonna call? No need, my friend…the internet has got you covered! Information is GOLDEN. And if you are like most, you [...]
Read moreThe Mortgage Process Put Simply
January 8, 2012
0 Comments
Understanding the mortgage process is a constant frustration for consumers. One can search the web and find all kinds of long articles breaking the mortgage loan process into anywhere between 6 and 9 individual steps. Upon reading these, a consumer gets even more confused since each individual step is confusing in and of itself. Unfortunately, [...]
Read moreI’m giving myself a PROMOTION today…
December 4, 2011
1 Comment
I was reading a few blogs last night and saw some from some “mortgage guys” and I saw a few different titles that intrigued me. If you’ve read any BLOGS on the difference between a LICENSED Mortgage Loan Originator and REGISTERED Mortgage Loan Originator than you know that anyone who is writing loans is a [...]
Read moreA PETITION – Bolster Homeownership and the Housing Market by Reforming Regulations Concerning Short Sales
October 26, 2011
0 Comments
While 70 percent* of Americans see homeownership as part of achieving the American dream, the homeownership rate has taken a 10 year decline** that hasn’t been seen since the Great Depression. While some steps have been taken to assist underwater homeowners to refinance, *** A fast transition back into homeownership is good for the economy, [...]
Read moreFannie Mae and Freddie Make Mac Move to NO Loan to Value Limit Loans on HARP
October 24, 2011
2 Comments
The Federal Housing Finance Agency, with Fannie Mae and Freddie Mac, has announced a series of changes to the Home Affordable Refinance Program (HARP). This program was designed to be able to help people who were in a position of negative equity. Now, it someone is upside down on their home, there will be no [...]
Read moreWhy a Home Buyer Should Set Up 3 Search Criteria When Buying a Home
October 22, 2011
2 Comments
A prospective home buyer or investor might have a clear idea of what he or she wants in the property they’ll buy but the current market brings complexities that make setting up search criteria for this purchase a little more complicated. The difference between bank-owned, short sales and person-to-person transactions bring unique elements to this [...]
Read moreDo I Need to be Late My Mortgage to Qualify for a Short Sale? – Don’t Take Yes for an Answer
October 7, 2011
0 Comments
I have a lot of people call me to get pre-qualified to purchase a home using FHA financing after a short sale. Early on, not a lot of these scenarios panned out but these days, more and more of them do. When they don’t, the number one reason is because they took bad advice from [...]
Read moreGetting Married? Buying a house? Why not use your registry for a Down Payment Registry?
October 7, 2011
0 Comments
If you are planning on getting married soon and buying a home – then why not use your registry as a Down Payment Registry. This is a nice way to help add to your down payment funds. FHA has a Bridal Registry Program that allows the funds you receive as wedding gifts to be used [...]
Read moreTwin Cities Off-Leash Dog Parks – My Dog Blog
September 9, 2011
0 Comments
If you’re a dog lover like I am, you don’t consider a move without contemplating neighborhood amenities for your dog. In my considerations for a move recently, I had a bit of a time trying to locate most of the off-leash dog parks in the twin cities metro area. After collecting some information I’d thought [...]
Read moreFHA Loan Limits going DOWN in the Mpls/St Paul metro on October 1st!!!
September 7, 2011
0 Comments
Well… as we all know our economy is looking SO GOOD that it may make lots of sense to LOWER the current FHA loan limits in less than a month right? Here in the Mpls/St.Paul MSA borrowers purchasing power with FHA loans is being reduced by almost $50,000 very soon. The loan limit for MOST [...]
Read moreFHA Short Refi Program
August 29, 2011
0 Comments
The FHA Short Refinance Program has always existed in an unofficial form but became a formal program on December 16, 2009 with Mortgagee Letter 09-52. It was “refined” on August 6th of 2010 with Mortgagee Letter 2010-23. It was designed to provide more mortgage options to those that owe more than their house is worth. [...]
Read moreHow Often Do Seller’s Pay Closing Costs? . . . . . Never.
August 26, 2011
0 Comments
The role of closing costs in a purchase agreement can be confusing both for buyers and sellers. In the present market, it is customary for there to be sales concessions. A real estate sales concession can be many things including but not limited to price, repairs and yes, . . closing costs. Asking the seller [...]
Read moreDo Credit Inquiries Hurt Your Credit Score?
August 4, 2011
0 Comments
Reblogged with Permission Via: http://www.mtgprofessor.com/A%20-%20Credit%20Issues/do_inquiries_hurt_your_credit.htm Posted September 18, 2000, Revised January 29, 2004, Revised November 18, 2004, November 16, 2006, March 26, 2011, August 1, 2011 Borrowers in distress often contact many lenders hoping to find one who will approve them. For this reason, multiple inquiries can have a negative impact on a consumer’s credit [...]
Read moreDid HVCC Expire Completely? – Nope, it Still Lives On – Fannie Mae’s Appraisal Policy Broken Down
July 21, 2011
0 Comments
Breaking Down Fannie Mae’s Appraisal Rules Have you heard of the Home Valuation Code of Conduct (HVCC)? If you are a lender or Realtor, of course you have. What I wanted to do with this post is breakdown Fannie Mae’s policy now that HVCC has expired. Basically the Code lives on and has been slightly [...]
Read moreShould I Stay or Should I Go Now?
June 16, 2011
0 Comments
Should I Stay or Should I Go Now? The million dollar question, should I stay, and continue renting, or should I go, and become a homeowner? Sometimes, I think first time homebuyers are looking at this question as a million dollar question, and really, it is not. Are we at the bottom of the declining [...]
Read moreSeller Contributions Towards Closing Costs on a Home Purchase
June 16, 2011
0 Comments
Doesn’t the Seller Pay for All of Our Closing Costs? We all have to remind buyers that they are responsible to pay the required down payment percentage (3.5% for FHA or 3-10% etc for Conventional) AND their closing costs/pre-paids too. Even if you stipulate that the sellers contribute towards “closing costs and pre-paids” in the [...]
Read moreThe Mortgage Loan Process – From Shopping to Closing
June 12, 2011
0 Comments
It’s not hard to search and find bland descriptions of the mortgage process that paints in broad strokes. For the more information hungry home buyer, I’ve tried to collect snippets of audio and video that go into greater depth on this topic covering everything from shopping for your home loan to closing on your new [...]
Read moreCan I Buy a Home While I’m Getting Divorced in Minnesota?
June 6, 2011
1 Comment
It has been widely and wrongly asserted that someone who is getting divorced in Minnesota cannot purchase a home prior to finalizing a divorce decree and at the same time prevent their soon to be ex-spouse from being entitled to marital property rights in the newly purchased home. This used to be a serious problem [...]
Read moreUSDA changes coming October 1st 2011
April 20, 2011
0 Comments
USDA Rural Development home loans were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with no down payment required. As of today… this is the LAST of the true NO MONEY DOWN loans unless you qualify for a VA [...]
Read moreFHA Premium Rate Increase Makes PMI a Better Option for Many Borrowers
April 18, 2011
0 Comments
The Federal Housing Administration (FHA) implemented a 25 bps increase to its annual premium rates on April 18, resulting in a payment increase for FHA borrowers. With this change, RMIC (an iLoan preferred mortgage insurer) offers equal or lower monthly premium rates on all LTVs with no upfront premium. RMIC Monthy PMI vs. FHA MIP [...]
Read moreProtected: Agent HBM Tutorials
April 3, 2011
Enter your password to view comments.
There is no excerpt because this is a protected post.
Read moreHome Buyer Search Tool Tour
March 27, 2011
0 Comments
Try It In Full Screen Mode by Clicking on the Button in the Lower Right Charles Dailey – iLoan – NMLS ID# 79048 – CA DOC, MN DOC & WI DFI – 612.234.7283 The Home Buyers Scouting Report® is provided directly to the buyer by HBM II, a licensed national real estate brokerage service company, [...]
Read moreNothing About Industry, A Lot About EVERYTHING
March 5, 2011
1 Comment
Recently, my daughter had to write a short essay from a list of topics for her English class. I wanted to share. There is a whole lot of wisdom in this teenager’s thoughts……….. One of the things that confuse me most in life is why people accept average or less than average. People live in [...]
Read moreOwn a Home or Rent? Why am I asking this???
January 31, 2011
0 Comments
Trulia put this article out on Monday… CLICK HERE if you want to read it. Here’s the details: Trulia compared the median list price of a two-bedroom home with the median price paid for rent in 50 cities. The company then assigned a price-to-rent ratio to each city, with any number below 15 signifying a [...]
Read moreWho Is Going To Write These Loans?
January 5, 2011
0 Comments
The mortgage industry has seen much blood shed in the last 2 years, particularly in the last year. After reading a very interesting magazine article, I began to think about the future…the eminent future and a big question arose, “Who the heck is going to write these loans”? What is the MN Mortgage Mom rambling [...]
Read moreFannie Mae Guideline Changes – Gifts, 97% Financing and Mortgage Insurance
November 27, 2010
3 Comments
There has been some recent excitement about Fannie Mae (FNMA) changing her guidelines on down payments and allowing gift funds as an acceptable form of down payment in lieu of a borrower’s own funds. Before we all get excited about FNMA getting a little FHA in her with respect to gift funds, we need to [...]
Read moreC’Mon Minnesota Legislature, . . Just Ban Deficiency Judgments
November 27, 2010
1 Comment
In some regards, the MN legislature was ahead of the curve on the mortgage and housing crisis. They regulated non-bank lenders and brokers in ways that other states hadn’t even considered. They got ahead of abusive practices towards distressed homeowners and shady loan modification companies. What they have unequivocally failed at is aiding homeowners who [...]
Read moreYour Local Lender
- Purchase a HUD owned Home with the $100.00 Down Payment Incentive Program
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Seller Paid Closing Costs Reduction Announced
- First Time Home Buyers, Now that You’ve Opened “The Box”
- FHA Mortgages: Enough Already!
-
Joe Harvey MortgageJoe's Blog: Kim, Good information in Who is Buying Homes. Tha...
-
Who is Buying Homes? « Midwestliving's Blog: [...] First Time Home Buyers, Now that You’v...
-
Charles Dailey: Who is was determined to be responsible for the mo...
-
April: Hi Charles, Thank you so much for this informat...
-
Aida: You may be in luck based on the lmitied facts you ...
- Buying a Home after a Short Sale – Don’t Believe the Naysayers
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Mortgages: Enough Already!
- Minneapolis & Saint Paul Housing Show Signs of Improvement
- Monthly Private Mortgage Insurance – It Doesn’t Make Any Sense. . .
- Fannie Mae Guideline Changes – Gifts, 97% Financing and Mortgage Insurance
- Wanna Be a Good Mortgage Applicant? . . Then it’s Time to Get Naked!
- Does Your Loan Officer Wear Lime Green Polka Dotted Underwear?
- Minnesota Home Prices Headed for a Double Dip? – Don’t Believe the Hype
- First Time Home Buyers, Now that You’ve Opened “The Box”
- Purchase a HUD owned Home with the $100.00 Down Payment Incentive Program
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Seller Paid Closing Costs Reduction Announced
- First Time Home Buyers, Now that You’ve Opened “The Box”
- FHA Mortgages: Enough Already!
Authors
-
Charles Dailey
- Friends Don’t Let Friends Use Zillow, Trulia and Yahoo Real Estate to Find Homes for Sale
- FHA Seller Paid Closing Costs Reduction Announced
- The Mortgage Process Put Simply
- A PETITION – Bolster Homeownership and the Housing Market by Reforming Regulations Concerning Short Sales
- Fannie Mae and Freddie Make Mac Move to NO Loan to Value Limit Loans on HARP
-
Sherri Sherpy
-
Steven Brand
-
Deb - The Mortgage Lady
-
Michael Dietrich
-
Tom Garrity
-
Joe Harvey MortgageJoe's Blog
-
Tim Swierczek
- No posts
Search MN & WI Homes on the MLS
Search MN & WI Foreclosure Listings
Get Your Free Private Home Searching Account
Today’s Mortgage Rates
Mortgage Industry Feed
- Foreclosures by State and Over Time February 19, 2012
- More Americans Opting for Shorter-Term Mortgage Refis - The Home Front (usnews.com) February 18, 2012
- Will a standardized system for verifying Web identity ever catch on? - CNN.com February 17, 2012
- Philly Fed boss warns against speeding recovery - The York Daily Record February 17, 2012
- Home buying: Most affordable in decades - Feb. 16, 2012 February 17, 2012
- FHA defaults up for ninth straight month February 17, 2012
- Moody's puts the world's largest banks on review February 17, 2012
- HUD to announce more settlements, premium raises to close FHA hole | HousingWire February 15, 2012
- CFPB seeks input on proposed monthly mortgage statements | HousingWire February 15, 2012
- Homeownership: The ultimate dating aphrodisiac - Feb. 14, 2012 February 15, 2012
- NAR Report Finds Housing Affordability on the Rise February 15, 2012
- Economists: Fed Likely to Raise Rates Earlier than Forecast February 15, 2012
- HUD Budget Shows FHA Going Broke February 15, 2012
- January 2012 Pending Home Sales Highest Since 2005 February 15, 2012
- FHA Removes Streamlines From Compare Ratios | Mortgage News | Daily National and State Headlines February 10, 2012
- Zillow Launches New Android App | Mortgage News | Daily National and State Headlines February 10, 2012
- Mortgage bonds and Greece pull down ING February 10, 2012
- Senate bill gives principal write-downs through shared-appreciation plan | HousingWire February 10, 2012
- Nonbank Lenders Must Develop Anti-Fraud Programs, FinCEN Says February 10, 2012
- No Appraisals Required for Rural Borrower Refinance Program February 10, 2012
