**I CHANGED MY MIND AGAIN**
I guess you may say it's part of being a woman, but I changed my mind about taking the time away from Real Estate! I won't be back now until next year.........................................Happy New Year!
I had to share this with you it is awesome, a Penny.....................................
What did your town look like according to Penny Postcards?
Check out your old stomping grounds during the times of the penny postcard.
Click on the state and then on the county to see old penny postcards from that area.....pretty neat.
Penny Postcards, copy this to your address bar, have fun with this
Google Penny Postcards, go to the second entry pick your state and WOW what fun.
Next for all some Mortgage Info.............I will be back soon, next year we are going to have lots of fun taking you through the selling process and the buying process in New Jersey, with full permission of my sellers' and the buyers' or the buyers' agent all live video not quite UTube but...........it could get very interesting how's that all the way through to the closing. I am working on my bad words and my Brooklyn accent......................
At a minimum 620 credit score a mortgage loan is considered prime, and below 620 sub-prime. In the past a 620 score would entitle you to "the going rate". No longer. Welcome to the new world of "risk-based pricing". Increasingly lenders are determining the rate and options offered on the basis of the credit score. Mortgage insurers are doing the same thing. These dynamics mean much larger rewards for high scores. Maybe make credit score management your New Years resolution? - Best wishes for 2008!
New Fannie, Freddie fees boost mortgage cost
Many borrowers will be socked with a fee that amounts to $250 for every $100,000 borrowed, just because the mortgage market has gone so bad. Other customers will take bigger hits because their credit scores are lower than 680 and they're borrowing more than 70 percent of the home's value. The fees will be tacked onto mortgages guaranteed by Fannie Mae or Freddie Mac, the government-sponsored enterprises that help keep money circulating for home loans. Read more
Mortgage rate update
1-2 week trend: Down. 4-6 week trend: Up More info.
Ante Up -- and Raise the Limit!
Thank you, Dr. Lawrence Yun, NAR Chief Economist for writing this insightful article! Falling interest rates usually lift home sales (and this will happen) but the housing market could use a little help in the form of higher loan limits. In his commentary this month he points out how higher limits for FHA-insured loans and loans backed by Freddie Mac and Fannie Mae would help not only buyers, but the economy in general. Dr. Yun gives federal policymakers a few reasons to make these loan limits more realistic. A must read!
PMI now tax deductible through 2010
Households whose adjusted gross income is $100,000 or less can deduct 100% of their PMI premiums. (The deduction is reduced by 10% for each additional $1,000 of adjusted gross income, phasing out after $109,000.)
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