realestatemarketingthisweek.com - Forget the doom and gloom, First Time Home Buyers can buy with FHA - Part 1 - Thanks to my very great friend Brett Fallon for taking the time to be here in studio today. Brett is one of America’s finest financial advisors. And of course the infamous Dan Havey. Now we all love Dan Havey because he was instrumental in getting me into the mortgage industry about 14 years ago. Most importantly, Dan was instrumental in helping us put together the loan modification hotline and he is the author of Real Estates Future. So today we have a few things we want discussed in regard to the economy, what’s happened, were wrapping up the year. You may have heard about this in the media, of course the media’s job is to scare you. Well our job is to tell you the truth. So Brett you have some data and some information that you wanted to share Some of the things you hear in the media, you cant escape, its pretty much doom and gloom, sky is falling, this is the next Great Depression. It’s over for all of us and we should all just pack up and go. That kind of stuff is pervasive out there and creates fear and a lot of anxiety amongst people who are either investors, people who are looking to buy a house, looking to refinance a mortgage. People dont realize there are certain tools that exist that we will talk about during the course of the show today. They should understand that some of the things that we discussed prior to today’s broadcasts were interest rates …
realestatemarketingthisweek.com - 00 tax credit for first time home buyers with low down payment - Part 3 - We have back in the studio today Mr. Dan Havey. Dan and I have worked together in the mortgage industry for about 14 years and we are happy to have him back. He has seen a lot of changes in the market and thanks again for being here. Michael, here is a question I wanted to ask you, there is so much misconception in the marketplace today as far as what is still available for financing. I think a lot of people have this idea that it is impossible to finance a loan or get a mortgage or that you have to be able to put 20% down or have a 720 FICO score. Can you let people know whats really going on out there? Well you know a lot of things have gone away. There are a lot of those old loan programs that were fancy ways to sell money and finance real property and a lot of thats gone. The reality of it is, if a person has a minimal amount of money down, there is absolutely financing through the Federal Housing Administration with 3.5% down. You can buy up to about 8000 with only 3.5% down. Now with Fannie Mae and Freddie Mac, we actually do have a few investors that will allow us to only put 5% down with those and that loan amount maximum is 7000. So there is still plenty of financing for primary residences. Now in regard to looking at investment properties believe it or not there are actually still some stated income loans out there, but the stated income loan is …
Recommended read: Bank failures to surge in coming years IndyMac, Corus, UCBH under pressure as credit crunch slows economy By Alistair Barr, MarketWatch Last update: 6:27 pm EDT May 23, 2008Comments: 394SAN FRANCISCO (MarketWatch) — By April, Gary Holloway was almost three years into retirement www.marketwatch.com Many more bank failures likely after IndyMac Sun Jul 13, 2008 5:16pm EDT By Jonathan Stempel - Analysis NEW YORK (Reuters) - US banks may fail in far greater numbers following the collapse of the big mortgage lender IndyMac Bancorp Inc (IMB.N: Quote, Profile, Research, Stock Buzz), straining a financial system seeking stability after years of lending excesses. More than 300 banks could fail in the next three years, said RBC Capital Markets analyst Gerard Cassidy, who had in February estimated no more than 150. Banks face pressure as credit losses once concentrated in subprime mortgages spread to other home loans and debt once-thought safe. This has also led to investor worries about the stability of mortgage finance companies Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz); IndyMac is not related to either. While analysts declined to say which banks will fail next, several smaller lenders and one large one, Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz), appear already to have elevated levels of soured loans, relative to their sizes. “You have to look at companies with …
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00 Tax Credit for First Time Home Buyers with Low Down Payment. Lender Finance Program with Low Payment and Fixed Interest Rate on FHA Mortgage and Government Assistance. Go To RealEstateMarketingThisWeek.com Part 8 (Excerpt) Analyzing tax returns for self employed and small business owners; Use a Mortgage Planning Expert Credit scores now are a major factor with interest rates. You see the liars up on the internet with interest rates being at 4.625% and all this kind of hocus pocus, its …
First Time Home Buyer Tax Credit Assistance and Federal Government Home Loan Program with Low Down Payment on FHA Mortgages. Buy Bank Foreclosed Homes at a Discount. Go To RealEstateMarketingThisWeek.com Part 2 (Excerpt) The median income family can afford twice the median priced home; prices drop over 50% And now I mentioned Dan Havey is back in the studio with us, Dan has done a lot of great things in the mortgage industry. He left us about a year and a half ago, is that right Dan? Yes, I …
