tag:blogger.com,1999:blog-9514830994968609742024-03-21T12:14:33.747-04:00Mortgage LingoMortgage Lingo and Mortgage News explained so anyone can understand it.Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comBlogger124125tag:blogger.com,1999:blog-951483099496860974.post-77886218635156645542020-06-01T18:33:00.001-04:002020-06-01T18:33:50.322-04:00Time to buy!<div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/_M6leeCMGWs" width="480"></iframe></div><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-22018241388564253242020-05-19T13:30:00.001-04:002020-05-19T13:30:16.419-04:00Should I Refinance My Mortgage?<div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/tIzFWQy6h9M" width="480"></iframe></div><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-90134887499468355302020-05-01T14:40:00.001-04:002020-05-01T14:40:45.437-04:00I Can't Pay My Mortgage!<div style="text-align: center;"><iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/LfUlbdxs9FI" width="480"></iframe></div><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-61668357271557544412020-04-27T16:18:00.001-04:002020-04-28T09:25:21.828-04:00Mortgage Guy Tim - Intro<div style="text-align: center;">
<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/EJE8_-dfKkE" width="480"></iframe></div>
<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-14978657202020676902020-02-20T16:28:00.001-05:002020-02-20T16:28:16.303-05:00Marketing and The Truth about Mortgage Rates! There are some phrases out there that can be used for the sake of marketing which are based on truth. But eventually we ignore those headline and those ads. The truth and the marketing tend to wear on us and we grow tired of hearing the same thing over and over. The unfortunate part of this is that so many people really could benefit from a refinance, but many of them have turned a deaf ear to this amazing opportunity!<br />
<br />
Even the Washington Post writes an article about the 'Historical Low Rates' and shows a graph reflecting this huge improvement. So don't just take my word for it - read what <a href="https://www.washingtonpost.com/business/2020/02/20/mortgage-rates-hold-steady-despite-strong-economic-reports/" target="_blank">the Post</a> has to say too! (See their chart below)<br />
<br />
So, if you or someone you know has purchased a home or refinance in the last 5 years, it is worth your time to check out rates for your specific scenario! If you want me to price out a loan quote for you, just message me <a href="mailto:theyne@firstcm.net" target="_blank">here</a> or apply online with me <a href="http://bit.ly/ApplyWithFCM" target="_blank"><span style="color: blue;">here</span></a>!<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhR00-35QoeDlKrcnGNkxUB99-sBQ9wHwthZElU_gtcR2oc6PdKA9s2pvEvximJXaeFD995Wg0kqR7a53mvdobgSVOG1JD4GIhGBl8FCLZ2CFCV0NfgS8nJXzfdb0v7W561VKpIhrLuz90/s1600/Annotation+2020-02-20+162420.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="838" data-original-width="651" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhR00-35QoeDlKrcnGNkxUB99-sBQ9wHwthZElU_gtcR2oc6PdKA9s2pvEvximJXaeFD995Wg0kqR7a53mvdobgSVOG1JD4GIhGBl8FCLZ2CFCV0NfgS8nJXzfdb0v7W561VKpIhrLuz90/s400/Annotation+2020-02-20+162420.jpg" width="310" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<div class="MsoNormal">
<b><i><u><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">NMLS LICENSE NUMBER 7411</span></u></i></b></div>
<div class="MsoNormal">
<b><i><u><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">AL </span></u></i></b><i><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">License
#51536, <b><u>CO</u></b> License #100512827,
<b><u>FL</u></b> License #LO1407, <b><u>GA</u></b> License #26455, <b><u>IN</u></b> License #35560, <b><u>KY</u></b> License #15410,</span></i><i><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;"> <b><u>MD </u></b>License #26-40711, <b><u>MN</u></b> License #MN-MLO-7411, <b><u>TN</u></b> License #106472, <b><u>VA</u></b> License #MLO-4420VA</span></i></div>
<br /><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-2103046198508178122020-02-07T07:30:00.000-05:002020-02-07T07:30:07.071-05:00Super Bowl Commercial!<div class="separator" style="clear: both; text-align: center;">
<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.blogger.com/video.g?token=AD6v5dz9wDTyhsbj5lDWUDCAUauEiNSRiKU2ugzuAdswWvypI6xn-y6PQdefJI0Hm1ThmH2LZlcaeDH1n-oN-ajncQ' class='b-hbp-video b-uploaded' frameborder='0'></iframe></div>
<br />
<div style="text-align: center;">
Check out our Super Bowl Ad! Did you catch this one on Sunday? What do you think? </div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
Share with everyone you know! </div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
</div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">Click <a href="http://bit.ly/ApplyWithTim">HERE</a>
to Apply with me (Phone or Desktop!)</span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><u><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">AL </span></u></i></b><i style="mso-bidi-font-style: normal;"><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">License
#51536, <b style="mso-bidi-font-weight: normal;"><u>CO</u></b> License
#100512827, <b style="mso-bidi-font-weight: normal;"><u>FL</u></b> License
#LO1407, <b style="mso-bidi-font-weight: normal;"><u>GA</u></b> License #26455, <b style="mso-bidi-font-weight: normal;"><u>IN</u></b> License #35560, </span></i></div>
<div class="MsoNormal">
<i style="mso-bidi-font-style: normal;"><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;"><b style="mso-bidi-font-weight: normal;"><u>KY</u></b> License #15410,</span></i><i><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;"> <b><u>MD </u></b>License #26-40711, <b><u>MN</u></b> License #MN-MLO-7411, </span></i></div>
<div class="MsoNormal">
<i><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;"><b><u>TN</u></b> License #106472, <b><u>VA</u></b> License #MLO-4420VA</span></i></div>
<br /><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-71536687078789397032020-02-03T10:13:00.000-05:002020-02-03T10:13:05.588-05:00Foreclosure and Canceled Debt - New Tax Changes<span style="font-family: Georgia, Times New Roman, serif;">Did you, or someone you know, experience a foreclosure <i>and </i>have some of the debt canceled?</span><br />
<span style="font-family: Georgia, Times New Roman, serif;"><br /></span>
<span style="font-family: Georgia, Times New Roman, serif;">There were some changes on the 2018 tax return that has since been changed again. Here is the excerpt from the AP article published 1/28/20 called; <i>"What to know for year two of the Trump tax plan</i>;</span><br />
<span style="font-family: Georgia, Times New Roman, serif;"><br /></span>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;">"People who suffered a foreclosure and had their debt canceled just got some relief.</span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;"><br /></span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;">The IRS considers that canceled debt as income and therefore subject to taxes. However, there had long been a provision that would waive this if the foreclosure was on a primary residence. Last year, that was not the case.</span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;"><br /></span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;">The waiver has now been reinstated and is extended retroactively, so people who had to pay tax on a canceled debt of this sort can file an amendment. Pickering says this is a provision that impacts few people but “has an extraordinary financial impact.”</span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;"><br /></span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;">If you want to read the official IRS tax page about this topic, I have linked it for your convenience <a href="https://www.irs.gov/taxtopics/tc431" target="_blank">here</a>. </span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;"><br /></span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;">Do you have mortgage questions? <a href="mailto:theyne@firstcm.net" target="_blank">Send me</a> a quick note and I will do my best to reply quickly! </span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;"><br /></span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;">Have an awesome week!</span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;"><br /></span></div>
<div style="background-color: white;">
<span style="font-family: Georgia, Times New Roman, serif;">-Tim</span></div>
<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-64823194747848835602020-01-30T08:37:00.000-05:002020-01-30T08:37:05.883-05:00The IRS Flip-Flop - Does it help you?The IRS has made some changes to the allowable deductions retroactively for 2018, proactively for 2019, and set the rule for 2020...<br />
<br />
Private Mortgage Insurance... Also known as PMI or MIP (<i>Mortgage Insurance Premium</i>) if you have an FHA loan. Both mean the same thing and both apply to the IRS rules.<br />
<br />
If you have paid it, are paying it, or will pay it in 2020, you need to pay close attention to this change. It could save you some cash with your tax return!<br />
<br />
Read the exact verbiage <a href="https://www.irs.gov/forms-pubs/changes-to-the-deductibility-of-mortgage-insurance-premiums-mip" target="_blank"><span style="color: blue;">HERE</span></a> to determine if it is something that you could deduct!<br />
<br />
I will add; Just because PMI is a tax deduction, does not mean that you should continue paying it! Call me to see if you could eliminate your PMI and save on your monthly payment every month!<br />
<br />
<br />
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">Click <a href="http://bit.ly/ApplyWithTim"><span style="color: blue;">HERE</span></a>
to Apply with me (Phone or Desktop!) </span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">AND please share with your Friends and
Family!<o:p></o:p></span></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">Just have a question for me? Click <a href="mailto:theyne@firstcm.net" target="_blank">HERE</a> to send me a quick note! </span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="font-size: 10pt;"><u>AL</u> </span></i></b><i style="mso-bidi-font-style: normal;"><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">License
#51536, <b style="mso-bidi-font-weight: normal;"><u>CO</u></b> License
#100512827, <b style="mso-bidi-font-weight: normal;"><u>FL</u></b> License
#LO1407, <b style="mso-bidi-font-weight: normal;"><u>GA</u></b> License #26455, <b style="mso-bidi-font-weight: normal;"><u>IN</u></b> License #35560, <b style="mso-bidi-font-weight: normal;"><u>KY</u></b> License #15410,</span></i><i><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;"> <b><u>MD </u></b>License #26-40711, <b><u>MN</u></b> License #MN-MLO-7411, <b><u>TN</u></b> License #106472, <b><u>VA</u></b> License #MLO-4420VA</span></i></div>
<br /><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-66408363118855808762020-01-28T10:30:00.000-05:002020-01-28T10:30:06.695-05:00MOST COMMON QUESTION ABOUT CREDIT<div class="separator" style="clear: both; text-align: center;">
</div>
<br />
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><u><i>Does your credit score go down when you buy a new home OR
when you apply for your mortgage?<o:p></o:p></i></u></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
The best way to answer this question is to show you an
example from a client;<o:p></o:p></div>
<div class="MsoNormal">
<!--[if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600"
o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f"
stroked="f">
<v:stroke joinstyle="miter"/>
<v:formulas>
<v:f eqn="if lineDrawn pixelLineWidth 0"/>
<v:f eqn="sum @0 1 0"/>
<v:f eqn="sum 0 0 @1"/>
<v:f eqn="prod @2 1 2"/>
<v:f eqn="prod @3 21600 pixelWidth"/>
<v:f eqn="prod @3 21600 pixelHeight"/>
<v:f eqn="sum @0 0 1"/>
<v:f eqn="prod @6 1 2"/>
<v:f eqn="prod @7 21600 pixelWidth"/>
<v:f eqn="sum @8 21600 0"/>
<v:f eqn="prod @7 21600 pixelHeight"/>
<v:f eqn="sum @10 21600 0"/>
</v:formulas>
<v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect"/>
<o:lock v:ext="edit" aspectratio="t"/>
</v:shapetype><v:shape id="Picture_x0020_1" o:spid="_x0000_s1026" type="#_x0000_t75"
style='position:absolute;margin-left:-8.4pt;margin-top:27.15pt;width:534.5pt;
height:248.3pt;z-index:-251655680;visibility:visible;mso-wrap-style:square;
mso-width-percent:0;mso-height-percent:0;mso-wrap-distance-left:9pt;
mso-wrap-distance-top:0;mso-wrap-distance-right:9pt;
mso-wrap-distance-bottom:0;mso-position-horizontal:absolute;
mso-position-horizontal-relative:text;mso-position-vertical:absolute;
mso-position-vertical-relative:text;mso-width-percent:0;mso-height-percent:0;
mso-width-relative:page;mso-height-relative:page'>
<v:imagedata src="file:///C:/Users/theyne/AppData/Local/Temp/msohtmlclip1/01/clip_image001.png"
o:title=""/>
</v:shape><![endif]--><!--[if !vml]--><span style="height: 331px; margin-left: -11px; margin-top: 37px; mso-ignore: vglayout; position: absolute; width: 713px; z-index: -1895822848;"></span><!--[endif]--><o:p></o:p></div>
<div class="MsoNormal">
Below is a snap shot of a real scenario (via the clients
Discover Credit Card report).</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmqL06DtAwsGp4BHYxKFPWac5QTb-GtPPQttzTudSI8tY1Hq2nXzY3bSuR3STG-JL41Cp4SHUtwrlGXSVpkRMhFjAnJnf8iaKzw7RwzIw7BUh6VuAnOYSOjDVDi87WXuJivaNTO6HjEkY/s1600/credit+Image.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="370" data-original-width="897" height="260" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmqL06DtAwsGp4BHYxKFPWac5QTb-GtPPQttzTudSI8tY1Hq2nXzY3bSuR3STG-JL41Cp4SHUtwrlGXSVpkRMhFjAnJnf8iaKzw7RwzIw7BUh6VuAnOYSOjDVDi87WXuJivaNTO6HjEkY/s640/credit+Image.jpg" width="640" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
**Full Disclosure – This client did NOT finance anything
else after the home purchase. No furniture,
no autos, no additional credit card debts, etc.
The mortgage that closed in late June was the 2<sup>nd</sup> mortgage to
appear on the credit report, as they retained the current home as a rental. <o:p></o:p></div>
<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-76440912664191427222020-01-24T07:08:00.000-05:002020-01-24T07:08:03.230-05:00Housing News from Wednesday 1/22/2020!This is from a news report that was released on Wednesday, January 23rd, 2020;<br />
<br />
<br />
<div class="MsoPlainText">
This morning, December existing home sales increased 4%
from November to an annual rate of 5.54M, above the consensus of 5.45M.
Existing home sales were 11% higher than a year ago. Total inventory of
existing homes available for sale dropped to just a 3.0-month supply, and it
was 9% lower than a year ago. The median existing-home price was 8% higher than
a year ago. <o:p></o:p></div>
<br /><br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.blogger.com/video.g?token=AD6v5dzWH0beq5F-s5VFJ5ULJvK4pFqUOszjiVyL26RA6X5pEloB9fgaiIPYNQ7sYhELuHcB2fUJLuV8KZA8TppKGw' class='b-hbp-video b-uploaded' frameborder='0'></iframe></div>
This is amazing! If you were still wondering if it was a good time to buy a home, this confirms that it is a GREAT time. AND - rates are still so amazing that most markets are cheaper to buy than to rent!<br />
<br />
ALSO - with values higher, this could be a great opportunity for you to take out some cash, eliminate your PMI, or improve your overall financial situation. Call me to discuss your details!<br />
<br />
<br />
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><u><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">AL </span></u></i></b><i style="mso-bidi-font-style: normal;"><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">License
#51536, <b style="mso-bidi-font-weight: normal;"><u>CO</u></b> License
#100512827, <b style="mso-bidi-font-weight: normal;"><u>FL</u></b> License
#LO1407, <b style="mso-bidi-font-weight: normal;"><u>GA</u></b> License #26455, <b style="mso-bidi-font-weight: normal;"><u>IN</u></b> License #35560, <b style="mso-bidi-font-weight: normal;"><u>KY</u></b> License #15410,</span></i><i><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;"> <b><u>MD </u></b>License #26-40711, <b><u>MN</u></b> License #MN-MLO-7411, <b><u>TN</u></b> License #106472, <b><u>VA</u></b> License #MLO-4420VA</span></i></div>
<br /><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-53422284889437338422020-01-23T15:56:00.001-05:002020-01-23T15:56:50.280-05:00Technology is Amazing! The mortgage process is so much better in 2020! If you can take a photo with your phone, then you can get a pre-approval for a mortgage no matter where you are! Click on <a href="http://bit.ly/ApplyWithFCM" target="_blank">this link</a> and you will see how amazing this process can really be!<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZ9NVt-dNBBu111q75pKD1HI208CKUaINsP0cj3dIL2NzeibeeMTxnsyfOP-oxJUEimwYNNf_Joh9AWXalITdh8a7nH5PdovYSu4xXHEY12rkmy5ixT085cA7mCR70hzApWYUuCxnewm0/s1600/Tim+Card+-+No+address.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="285" data-original-width="492" height="185" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZ9NVt-dNBBu111q75pKD1HI208CKUaINsP0cj3dIL2NzeibeeMTxnsyfOP-oxJUEimwYNNf_Joh9AWXalITdh8a7nH5PdovYSu4xXHEY12rkmy5ixT085cA7mCR70hzApWYUuCxnewm0/s320/Tim+Card+-+No+address.PNG" width="320" /></a></div>
<br />
<br />
<br />
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><u><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">AL </span></u></i></b><i style="mso-bidi-font-style: normal;"><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;">License
#51536, <b style="mso-bidi-font-weight: normal;"><u>CO</u></b> License
#100512827, <b style="mso-bidi-font-weight: normal;"><u>FL</u></b> License
#LO1407, <b style="mso-bidi-font-weight: normal;"><u>GA</u></b> License #26455, <b style="mso-bidi-font-weight: normal;"><u>IN</u></b> License #35560, <b style="mso-bidi-font-weight: normal;"><u>KY</u></b> License #15410,</span></i><i><span style="font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast; mso-no-proof: yes;"> <b><u>MD </u></b>License #26-40711, <b><u>MN</u></b> License #MN-MLO-7411, <b><u>TN</u></b> License #106472, <b><u>VA</u></b> License #MLO-4420VA</span></i></div>
<br /><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-66843711846782190752013-02-04T10:54:00.002-05:002013-02-04T10:54:44.992-05:00FHA Changes - Coming Very Soon...<span style="font-family: inherit;">There are some changes with FHA annual MIP (Mortgage Insurance Premium) rates that are coming soon. If you have an FHA loan, expect to obtain an FHA loan, or know someone with an FHA loan, this is information that is worth noting. If you are looking to purchase a home in 2013, and are curious to know about financing alternatives, please click on the right to contact me. FHA loans are great loans, but they are not for everyone. If you have good credit, and are able to come up with a 5% down payment, then you may have other alternatives that could be much better over the life of the loan. But again, you need to discuss with a mortgage professional, so call me today!</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">So, Here are the changes that are coming;</span><br />
<span style="text-align: center;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-family: inherit;"><span style="text-align: center;">These changes are effective for all
FHA case numbers assigned on or after </span><b style="text-align: center;">April 1st, 2013</b><span style="text-align: center;">.</span></span><br />
<br />
<div style="margin: 0in 0in 0.0001pt; text-align: center;">
</div>
<div style="margin-bottom: .0001pt; margin: 0in;">
</div>
<br />
<ul type="disc">
<li class="MsoNormal"><span style="font-family: inherit;">FHA
is increasing annual MIP rates to match the following chart. Upfront
MIP rates will remain unchanged. </span></li>
</ul>
<br />
<div align="center" class="MsoNormal">
<span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;">For Loan Terms > 15 Years</span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><o:p></o:p></span></div>
<div align="center" class="MsoNormal">
<span style="font-family: 'Times New Roman', serif; font-size: 14.5pt;"><br /></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; mso-padding-alt: 0in 0in 0in 0in; mso-yfti-tbllook: 1184; width: 541px;">
<tbody>
<tr style="height: 14.2pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Base Loan Amount<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">LTV<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">New MIP Amount<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 14.2pt; mso-yfti-irow: 1;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">≤ $625,500<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">≤ 95%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">130 bps<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 14.2pt; mso-yfti-irow: 2;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">≤ $625,500<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">> 95%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">135 bps<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 14.2pt; mso-yfti-irow: 3;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">> $625,500<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">≤ 95%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">150 bps<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 15.0pt; mso-yfti-irow: 4; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">> $625,500<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">> 95%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">155 bps<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal">
<span style="font-family: 'Times New Roman', serif; font-size: 14pt;">For Loan Terms <u><</u> 15 Years</span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><o:p></o:p></span></div>
<div align="center" class="MsoNormal">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; mso-padding-alt: 0in 0in 0in 0in; mso-yfti-tbllook: 1184; width: 541px;">
<tbody>
<tr style="height: 14.2pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Base Loan Amount<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">LTV<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">New MIP Amount<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 14.2pt; mso-yfti-irow: 1;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">≤ $625,500<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">78.01% - 90%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">45 bps<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 14.2pt; mso-yfti-irow: 2;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">≤ $625,500<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">> 90%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">70 bps<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 14.2pt; mso-yfti-irow: 3;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">> $625,500<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">78.01% - 90%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 14.2pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">70 bps<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 15.0pt; mso-yfti-irow: 4; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 135.9pt;" valign="top" width="181">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">> $625,500<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 2.0in;" valign="top" width="192">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">> 90%<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 15.0pt; padding: 0in 5.4pt 0in 5.4pt; width: 1.75in;" valign="top" width="168">
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">95 bps<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div align="center" class="MsoNormal">
<br /></div>
<br />
<div style="margin: 0in 0in 0.0001pt; text-align: left;">
<br /></div>
<div style="margin: 0in 0in 0.0001pt; text-align: left;">
<span style="font-family: inherit;">The following changes are effective for all FHA case numbers assigned on or after <b>June 3rd, 2013;</b></span></div>
<div style="margin: 0in 0in 0.0001pt; text-align: left;">
</div>
<ul>
<li><span style="font-family: inherit;">FHA is changing the duration for the collection of the MIP</span></li>
<ul>
<li><span style="font-family: inherit;">For all mortgages with an original principal LTV of 90% or less, regardless of loan term, the annual MIP will be assessed for <b>11 years</b>.</span></li>
<li><span style="font-family: inherit;">For all mortgages with an original principal LTV greater than 90%, regardless of loan term, the annual MIP will be assessed for <b>the entire life of the loan</b>.</span></li>
</ul>
<li><span style="font-family: inherit;">Loans of 15 year terms or less with 78% or less with pay an MIP of 45 bps.</span></li>
</ul>
<div>
<span style="font-family: inherit;">There is an exception - FHA Streamlines, when refinancing a loan prior to June 2009, will retain their current MIP amount, However, they are still subject to the increased duration of payment.</span></div>
<div>
<span style="font-family: inherit;"><br /></span></div>
<div>
<span style="font-family: inherit;">If you want to read the full release from FHA, click <a href="http://portal.hud.gov/hudportal/documents/huddoc?id=13-04ml.pdf" target="_blank"><b>here</b></a>. The full release also shows the comparison (Current vs. proposed).</span></div>
<br />
<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-60481293460494207072013-01-15T08:59:00.001-05:002013-01-15T08:59:11.087-05:00Home Inspection... Worth It?The short answer - YES!<br />
<br />
My personal perspective is this; We buy insurance to cover our cars, our health, our death, our stuff, our wedding rings, even your stamp collection! The Home Inspection is one of the best insurance policies that relates to the purchase of a new home. Now, of course, you are not 'buying insurance', but the Home Inspection could turn up ANYTHING! If the inspector finds something that is a deal killer, just imagine the headache, the time, and the money you have saved yourself by NOT buying that home! Certainly worth the cost of the inspection!<br />
<br />
Have you ever wondered what kind of crazy stuff home inspectors find? If you are curious, you need to look at <u><b><a href="http://www.thisoldhouse.com/toh/photos/0,,20653156,00.html?xid=hinewsletter-130115-inspection-nightmares1&TOH" target="_blank">this</a></b></u> link. It is a gallery of photos along with a quick explanation from the home inspector.<br />
<br />
Still wondering if you should get a home inspection?<br />
<br />
<a href="http://www.ashi.org/" target="_blank"><b>Here</b></a> is a great place to find an inspector. I would also suggest asking your Realtor for a good recommendation.<br />
<br />
Happy House Hunting!<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-51133697347397867622013-01-02T11:26:00.000-05:002020-01-23T15:41:14.234-05:00Warning Signs of Refinancing Scams<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="line-height: 16px;"><span style="color: #444444;">Don't let low mortgage rates lure you into a refinancing scam. Take your time and research lenders to find the right deal for you. Use reputable sites to check on the business like </span><a href="http://www.bbb.org/us/" target="_blank"><b><span style="color: blue;">Better Business Bureau</span></b></a><span style="color: #444444;"> and you can even check the licensing of your bank and loan officer on the </span><a href="http://bit.ly/fz9z2R" target="_blank"><span style="color: blue;"><b>NMLS</b></span></a><span style="color: #444444;"> site.</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="line-height: 16px;"><span style="color: #444444;"><br /></span></span></span>
<br />
<div style="background-color: white; line-height: 18px; margin-left: 15px; margin-right: 15px;">
<span style="color: #444444; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Historically low mortgage rates are making it possible for many homeowners to save big bucks on their home loans. However, homeowners eager to take advantage of low rates and shorter mortgage terms can become targets of refinancing scams.</span></div>
<div style="background-color: white; line-height: 18px; margin-left: 15px; margin-right: 15px;">
<span style="color: #444444; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><br /></span></div>
<div style="background-color: white; line-height: 18px; margin-left: 15px; margin-right: 15px;">
<span style="color: #444444; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;">Here are a few red flags that might indicate your refinancing offer isn't on the up-and-up:</span></div>
<ul style="background-color: white;">
<li style="line-height: 18px; margin-left: 15px; margin-top: 0px; padding-right: 15px; padding-top: 0px;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><i><span style="color: red;">A mortgage company that you have not ever worked with contacts you first.</span></i><span style="color: #444444;"> It's possible such a lender isn't trying to scam you, but it's not worth the risk of handing over your personal and financial information to find out. Do your research first.</span></span></li>
<li style="line-height: 18px; margin-left: 15px; margin-top: 0px; padding-right: 15px; padding-top: 0px;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><i><span style="color: red;">You're pressured to sign right now.</span></i><span style="color: #444444;"> A lender may use sales tactics to convince you to do business with them, but they should not force you to sign a contract immediately to guarantee the offered interest rate. A real lender will provide more than one refinance option and give you time to consider their offer. The normal processing of a loan should not require you to pay anything up-front, except for the cost of the appraisal (if applicable).</span><br /><span style="color: #444444;"><i>Also Note:</i> It is important to remember that rates move daily, so once you have the information you need to choose the option that's right for you, be sure to lock in that rate before the market adjusts.</span></span></li>
<li style="margin-left: 15px; margin-top: 0px; padding-right: 15px; padding-top: 0px;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="line-height: 18px;"><i><span style="color: red;">You took the bait and got the switch.</span></i><span style="color: #444444;"> It's the oldest trick in the book, but that's because people fall for it. You get a great offer—that's the bait—but when it's time to sign, the lender presents new and much less beneficial loan terms. Remember, if you feel like you have signed for something that you don't like, you have a 3 day right of rescission. (Owner-Occupied Refinance only). If this is you, I encourage you to contact your lender before cancelling the loan. Be very careful here, and again... Do your research. </span></span></span></li>
</ul>
<div style="background-color: white; margin-left: 15px; margin-right: 15px;">
<span style="color: #444444; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="line-height: 18px;">It's worth noting that a refinance of an underwater mortgage is rare—in fact, it's almost impossible. If you are contacted by anyone other than your current mortgage lender claiming they can refinance your underwater mortgage, you're probably dealing with a scammer. There are loans that exist for this particular situation, but there are a lot of parameters that must be met before this is doable. </span></span></div>
<div style="background-color: white; margin-left: 15px; margin-right: 15px;">
<span style="color: #444444; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; line-height: 18px;"><br /></span></div>
<div style="background-color: white; margin-left: 15px; margin-right: 15px;">
<span style="color: #444444; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; line-height: 18px;">If you are interested in refinancing your mortgage, research me and compare my offer with your bank. Ask people you trust for their recommendations as well. And always research lenders </span><em style="color: #444444; font-family: Arial, Helvetica, sans-serif; font-size: small; line-height: 18px;">before</em><span style="color: #444444; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; line-height: 18px;"> you provide any personal or financial information. </span></div>
<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-41479540068669672942012-11-26T16:29:00.000-05:002012-11-26T16:29:22.348-05:00A Wonderful Math Lesson<div class="separator" style="clear: both; text-align: center;">
Very creative! I just had to share.</div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/KdxEAt91D7k?feature=player_embedded' frameborder='0'></iframe></div>
<br /><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-86651230434370902742012-10-09T11:04:00.004-04:002012-10-09T11:05:06.390-04:00Should You Buy A Fixer-Upper?Great <a href="http://www.foxbusiness.com/personal-finance/2012/10/08/should-buy-fixer-upper/" target="_blank"><b>article</b></a> about the idea of buying a home to fix it up, and saving money (theoretically) in the process... I know some people who have tried this. Some are very successful, while others... well, not-so-much. The issue that I hear most common is - running out of cash before the projects are done. So, get accurate estimates and then be sure to have a solid 'cushion' above and beyond.<br />
<br />
Do you have a success story? What about a not-so-successful story? I would love to hear from you!<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-91797342258034015202012-09-21T10:20:00.003-04:002012-09-21T10:20:56.003-04:00Some Helpful Advice for Homebuyers<a href="http://www.foxbusiness.com/personal-finance/2012/09/11/steer-clear-these-6-common-homebuyer-errors/" target="_blank"><b>Here</b></a> is a good link for anyone that is looking into buying a new home. Of course, if you have any other questions, or are interested in getting your pre-approval, just call me!<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-76284423317529169732012-09-18T11:53:00.001-04:002012-09-18T11:55:50.615-04:00Real Estate Deal Delayed By A Cat<a href="http://tbwsdailyshow.com/2012/09/18/real-estate-deal-delayed-by-a-cat/" target="_blank">Real Estate Deal Delayed By A Cat</a><span id="goog_810435574"></span><span id="goog_810435575"></span><a href="http://www.blogger.com/"></a><br />
<br />
This is nuts!<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-69553939113726417682012-09-11T12:51:00.000-04:002012-09-11T12:51:34.252-04:00PMI - Private Mortgage Insurance<b>PMI</b> is an insurance policy that protects the lender from paying the costs of <span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">foreclosing</span> on a house if the borrower stops paying on their loan. <span class="blsp-spelling-error" id="SPELLING_ERROR_1"><strong>PMI</strong></span> protects the lender, but it is paid for by the homeowner. <span class="blsp-spelling-error" id="SPELLING_ERROR_2"><strong>PMI</strong></span> is required when the loan to value is over 80%.<br />
<br />
FHA loans have <b>MIP</b>.<b> </b>(Different name - same concept). <b>MIP</b> applies to all scenarios except for 15 year fixed at 78% or less (Loan-to-Value). <b>MIP</b> will be paid for a minimum of 60 months (5 years).<br />
<br />
Each loan scenario should be reviewed carefully, because there can be different ways to avoid PMI. It is also important to note that PMI/MIP is no longer a tax write off. (Based on my research, the write off was tied to the Tax Relief and Health Care Act of 2006. This bill expired at the end of 2011, and I have not found any documentation of an extension.)<br />
<br />
<a href="http://www.bills.com/mortgage-insurance-deduction/" target="_blank">HERE</a> is a great article that will help you understand the tax implications, write-offs, etc. associated with <b>PMI/MIP</b>.<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-33877824678803561942012-08-23T14:16:00.003-04:002012-08-23T14:16:42.986-04:00Odd Days Interest<span style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;">I get a lot of questions about this topic... Here is my best explanation;</span><br />
<span style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;"><br /></span>
<span style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;">Understanding </span><strong style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;">Odds Days Interest</strong><span style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;"> is simple if I start by reminding you that every day you are in your home, with a mortgage, you are paying interest. It is important to understand when and how it is paid. For example, when you make your July 1 payment, you are paying for all of the interest that was charged in June. The interest is paid in arrears. </span><strong style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;">Odd Days Interest</strong><span style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;"> is introduced when a mortgage, Purchase OR Refinance, funds on any day other than the 1st. For example; If you close on the purchase of a new home on July 24th, then you would pay for 8 days of interest at closing (24th through the 31st). From then on, your payments will be due on the 1st. When calculating the </span><strong style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;">Odd Days Interest</strong><span style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; line-height: 18px;"> on a refinance, just remember that the loan does not fund on the day you close (assuming the refinance is of your primary residence). See blog post titled "Right-of-Rescission", for more details.</span>
<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-28907469838323345592012-08-21T12:43:00.000-04:002012-08-21T12:46:20.847-04:00Is the Lowest APR Always Best???I think <a href="http://homes.yahoo.com/news/the-best-mortgage-deal-isn-t-always-the-lowest-apr.html" target="_blank"><b>this</b></a> article does a great job of explaining the answer...<br />
<br />
What do you think?<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-88184710571818350382012-07-20T10:26:00.000-04:002012-07-20T10:26:13.205-04:00Price Comparison...Thinking about buying a new home? Try to think back to 2003... Everything was great and everyone was talking about buying homes and keeping them as long term investments, remember? Then 2008 happened, values crashed, etc.<div>
<br /></div>
<div>
BUT - This is awesome - The average rates in 2003 were 5.83%. If you had a $250,000 mortgage, then your payment was $1471.66/month. Now you can borrow the same amount, Get a lot more house for your dollar, and the payment would be $1157.79! That is $300 less per month! (Assuming 3.75% - 30 Year Fixed).</div>
<div>
<br /></div>
<div>
Are you still wondering if it is the right time? I hope not, because it is time to go buy - NOW!</div><div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-18299668740390120262012-07-11T12:54:00.000-04:002012-07-11T12:54:00.234-04:00How Much House Can You Afford?<a href="http://www.foxbusiness.com/personal-finance/2012/07/11/how-to-determine-how-much-home-can-afford/" target="_blank">Here</a> is a pretty good article about trying to determine the right amount of mortgage you can handle. Everyone is a little different, so feel free to call me to discuss this in more detail!<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-40815217968022995972012-06-26T09:45:00.001-04:002012-06-26T09:45:25.361-04:00Home Prices...Going up...<a href="http://www.foxbusiness.com/industries/2012/06/26/case-shiller-home-prices/" target="_blank">THIS</a> is great news... Granted, up 1.3% isn't much, but it is better than down 1.3%!!!<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.comtag:blogger.com,1999:blog-951483099496860974.post-66732364330501152362012-06-19T12:45:00.002-04:002012-06-19T12:45:36.336-04:00Down Payment Options?<a href="http://www.foxbusiness.com/personal-finance/2012/06/13/overcoming-down-payment-hurdle/" target="_blank"><b>Here</b></a> is a great article about different options for down payment. Not all of the numbers used in this article are 100% accurate...keep in mind many of the ratios can be reviewed case by case. To learn more - click on the right side of this page to call me!<div class="blogger-post-footer"><form action="http://www.google.com/cse" id="cse-search-box" target="_blank">
<div>
<input type="hidden" name="cx" value="partner-pub-7897715706180787:7w2u2srexve" />
<input type="hidden" name="ie" value="ISO-8859-1" />
<input type="text" name="q" size="31" />
<input type="submit" name="sa" value="Search" />
</div>
</form>
<script type="text/javascript" src="http://www.google.com/cse/brand?form=cse-search-box&lang=en"></script>
</div>Timothy Heynehttp://www.blogger.com/profile/08526216057987003486noreply@blogger.com