Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday.
The White House says the President will sign it into law today.
The up-to-$8000 tax credit's expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010.
The program's basic eligibility requirements remain the same:
The new law includes some notable updates, however.
For one, the definition of "first-time home buyer" has been expanded to include most homeowners with at least 5 years in their current home. "Move-up" buyers like these are now eligible for IRS tax credits, but with a cap at $6,500.
This means that you don't have to be a true first-time home buyer to claim the "first-time home buyer tax credit".
Other eligibility changes include:.......
Read the COMPLETE BLOG POST HERE:
Congress Expands And Extends The First-Time Home Buyer Tax Credit
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
In its press release, the FOMC noted that the U.S. economy "has continued to pick up" since the September FOMC meeting and that housing market activity has increased.
It's the third consecutive post-FOMC statement in which the Fed speaks optimistically about the U.S. economy -- a signal that the recession is likely over.
The economy isn't without threats, however, and the Fed identified several in its announcement, including:
The overall tone remained positive, however,........
Read the COMPLETE BLOG POST HERE:
A Simple Explanation Of The Federal Reserve Statement (November 4, 2009 Edition)
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
The Federal Open Market Committee caps off a scheduled, 2-day meeting today in the nation's capital, its 8th meeting of the year.
The group adjourns at 2:15 PM ET and, as is customary, will issue a press release reviewing its monetary policy and the health of the U.S. economy.
The FOMC's post-meeting statements are brief but comprehensive. They're a window into the mind of the Federal Reserve and Wall Street picks apart every sentence for clues.
It's why FOMC meetings tend to shake up the mortgage markets -- for good and for bad.
After its September 2009 meeting, the FOMC said in its press release:.....
Read the COMPLETE BLOG POST HERE:
Because Of The Federal Reserve, You Should Lock Before 2:15 PM ET Today
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
The housing market continues to steam forward.
As reported by the National Association of Realtors®, the Pending Home Sales Index posted its 8th consecutive monthly gain in September.
It's the longest winning streak in the history of the index and Pending Home Sales are now at their highest levels since December 2006.
A Pending Home Sale is a home under contract to sell, but not yet closed. It's the precursor to an Existing Home Sale.
Trade group data shows that nearly 80 percent of "pending" homes close within 2 months. The majority of those remaining close within months 3 and 4.
When the Pending Home Sales Index rises, it tells us that........
Read the COMPLETE BLOG HERE:
Higher Home Prices Ahead, Says The Pending Home Sales Index
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
Mortgage markets improved last week after a series of hugely volatile trading sessions.
Rates carved out a wide range on the week, culminating in a late-Friday plunge that dropped rates by about 1/8 percent.
It was the first time in 5 weeks that mortgage rates fell.
Volatility like that of last week is nothing new on Wall Street; it's been a running theme in 2009. Volatility occurs when markets don't agree on what's next for the economy and, this year, there's been a lot of disagreement like that.
Data has been inconsistent. Take last week for example.
At 9:00 AM Tuesday morning, the Case-Shiller Index showed home prices rising nationwide. Because many analysts believe housing fueled the recession, strength in the sector is widely construed a positive for the economy.
Mortgage rates rose on the news.
But then, an hour later, the national consumer confidence report revealed a substantial deterioration in sentiment versus the month prior. The data forced Wall Street to do an about-face.
Housing is important to the economy, but it can't affect growth like consumer spending can. When Americans are less confident about their future income, they tend to keep their wallets closed, retarding economic growth.
Holiday Shopping Season is getting underway and......
Read the COMPLETE BLOG HERE:
What's Ahead For Mortgage Rates This Week : November 2, 2009
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
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Anyone can say anything about themselves. Whoopy! See what my PAST CLIENTS are saying... http://www.orlandomortgagepro.com/What_people_are_saying.htm
Welcome
Don't HATE me because I am conservative with YOUR money! Let someone else take the risks.
Feel free to check me out here, but if you prefer, you can go directly to one of the following:
Orlando Real Estate | Orlando Credit Repair | Loan Modifications | Orlando Mortgages
Orlando Real Estate and the Mortgage Chili Blog
I have a reputation for my highly relational approach to my Orlando mortgage business and intentionally blur the lines between business and friendships.
"All things being equal, people would rather do business with people they like. I believe that all things not being equal, people would still rather do business with people they like."
It is with this philosophy that I have built one of the most loyal groups of clients [read: friends!] and successful mortgage and Orlando credit repair practices in the Central Florida arena.
Don't be surprised if you hear me ask, "How can I help you in your [life, business, etc.] today?" And when I does, know that it is driven by a sincere desire to serve those around me... pay it forward so to speak.
I have a record of self improvement that would rival that of anyone in the industry. I either am or have been aligned with:
I have also invested in my community with my time:
I, Chris Brown, pride myself as NOT always being available, and surprisingly,when I took that approach long ago, my business grew! If you don't make the time in your life for the things that are truly important, you will fill your time with things that are not. For me, it is God First, family second, business third. I am only able to pour my life into my clients because I build boundaries to recharge my batteries with my family and my Creator."
Chris's home for living with life balance.
Chris the Implementer
Orlando Mortgages | Orlando Credit Repair | Orlando FHA Loans
Orlando Real Estate | Florida Reverse Mortgages | Mortgage Chili Blog
Chris is mainly known for his work in the with First Time Home Buyers.
Being quick on his feet reacting to market changes, Chris has also developed quite a respectable FHA business and has become one of the best resources for local Realtors who have folks with challenged credit through his association with the U.S. Credit Repair Counsel.
The Bottom Line:
Chris uses all of the tools he has independently invested in to help agents determine, and fast, if they have a buyer that can qualify for a purchase. Since agent's time is their livelihood, this has become an invaluable tool for them in this challenging market.
"Chris is detail-oriented, resourceful, and on-time with his work. We'll work with him again, and refer others to him because he does great work."
Top qualities: Great Results, Expert, Creative
Augie Byllott
First hired Chris as a Financial Advisor in 2005, and hired Chris more than once
"Chris is an honest, hard working mortgage professional. More than that he is a good man. Integrity and faith are two of his greatest strengths. His foremost concern is what's best for his client. He is the kind of business professional you can enjoy working with."
Top qualities: Personable, Expert, High Integrity
Kristy Stevenson
First hired Chris as a Mortgage Lender in 2003, and hired Chris more than once
"I have hired Chris more than once to get me through the mortgage process. Chris kept me informed on a daily basis of progress and his attention to detail and devotion to customer service is phenomenal. I will continue to use Chris for all of my mortgage needs in the future."
Top qualities: Personable, Expert, High Integrity
Marcus Mennenga
First hired Chris as a Mortgage Lender in 2005
"Chris has worked with many of our clients and they are always well-pleased. He is a detail-oriented manager who always does what is right for our clients. It is a privilege to have Chris' expertise helping our clients."
Top qualities: Personable, High Integrity, Creative
Henry Silva
hired Chris as a Equity Manager in 2007, and hired Chris more than once
"I have purchased and re-financed many houses in the last 10 years and I am happy to say that Chris Brown is, by far, one of the best Equity Managers I have ever worked with. There were absolutely no hiccups in the entire process. He is very professional, knowledgeable and cooperative and it has truly been a pleasure working with him. I am happy to give my recommendation to use Chris for any mortgage loan need."
Top qualities: Great Results, Expert, On Time
Garth Bolton, Owner, Property Rescuer, Inc.
first hired Chris as a Mortgage Lender in 2004-present
"Chris is a very detail orientated mortgage lender that goes above and beyond what could ever be expected. Add that to his high level of integrity and honesty and you have a trusted advisor with advise worth heeding!"
J Robert Brown, Owner, Prefer1 Realty
was with another company when working with Chris at Trinity Mortgage
"Chris has provided mortgage lending service to a number of the folks whom I've helped either buy or sell a home. Chris is consistently conscientious, on top of the situation, and communicates very well. He anticipates situations before they get out of control and helps to resolve them. Chris takes a long-term view of things and is a " can-do" kind of person whose primary goal is to satisfy his customers, confident in the knowledge that if he takes care of them, he will be successful."
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