Homebuyer Tax Credit has not only been extended, but it has also been expanded to include current homeowners. The Senate and House of Representatives approved the bill and the President should sign the bill into law as soon as Friday, November 6, 2009. The following are features of the new bill:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYnkx.7jfyXE&pos=8
For all your purchase and refinance needs, feel free to contact me at 410-248-1762 or bob.lowery@prosperitymortgage.com. I am available seven days a week.
Confidential applications can also be completed on our secure website at https://www.homeloans.com/bob-lowery
Thanks,
Bob Lowery
Home Mortgage Consultant
Prosperity Mortgage Company
410.248.1762 Tel
443.653.1720 Mobile
Bob.Lowery@prosperitymortgage.com
https://www.homeloans.com/bob-lowery
Homebuyer Tax Credit has not only been extended, but it has also been expanded to include current homeowners. The Senate and House of Representatives approved the bill and the President should sign the bill into law as soon as Friday, November 6, 2009. The following are features of the new bill:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYnkx.7jfyXE&pos=8
For all your purchase and refinance needs, feel free to contact me at 410-248-1762 or bob.lowery@prosperitymortgage.com. I am available seven days a week.
Confidential applications can also be completed on our secure website at https://www.homeloans.com/bob-lowery
Thanks,
Bob Lowery
Home Mortgage Consultant
Prosperity Mortgage Company
410.248.1762 Tel
443.653.1720 Mobile

Free First Time Home Buyer Workshop - Baltimore - October 14, 2009
October 14, 2009 at 6:30PM
7939 Honeygo Blvd., #127
Baltimore, MD 21236
Seating is limited, so please RSVP by calling or emailing:
Bob Lowery, Consultant
Prosperity Mortgage Company
410.248.1762 Tel
443.653.1720 Mobile
Bob.Lowery@prosperitymortgage.com
· FREE Home Buyer's Guide
· FREE credit analysis
· $8,000 tax credit information plus $500 lender credit for all contracts dated 9/26/2009 and closed by 11/30/2009
· Down Payment and Closing Cost Assistance Available
I am available seven days a week.
For all your purchase and refinance needs, feel free to contact me at 410-248-1762 or bob.lowery@prosperitymortgage.com.
Bob Lowery, Mortgage Consultant
Prosperity Mortgage Company
410.248.1762 Tel
443.653.1720 Mobile
Bob.Lowery@prosperitymortgage.com
For all your purchase and refinance needs, feel free to contact me at 410-248-1762 or bob.lowery@prosperitymortgage.com. I am available seven days a week.
Confidential applications can also be completed on our secure website at https://www.homeloans.com/bob-lowery
Thanks,
Bob Lowery
Home Mortgage Consultant
Prosperity Mortgage Company
410.248.1762 Tel
443.653.1720 Mobile
Effective 60 days from September 18th, there will be some major changes to FHA streamlines. The major changes affecting FHA homeowners with refinancing are:
In addition to this, many lenders have put credit overlays on top of the FHA guidelines requiring 580, 600 and even 620 scores. Here is the link to the mortgage letter from HUD.
http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/09-32ml.doc
While I realize FHA and FHA lender have to tighten up just like everyone else, why is FHA tightening up on their consumer base that they have already insured? Doesn't it help to try and refinance as many of their current portfolio as possible to lower rates and payments?
I absolutely understand tightening up on purchases and "cash out" refinances, but tightening up on streamline refinances, doesn't make too much sense to me. If we are lucky, FHA will retract this new guideline before it actually goes into effect.
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