A new rule from the FHA (Federal Housing Administration) is aimed to stop people who currently own a home from buying a new, less expensive home and then walking away from the more expensive house. This tactic is known as “buy and bail”. In order to put a stop to this activity, FHA [...]

If you’re looking to buy a house, there are 2 important steps to take. The first step is to get prequalified. With so many changes happening in the mortgage industry, you want to make sure that you can afford the houses you are looking at. Remember, there can be a difference between [...]

The current real estate market feels very much like when I first started helping people buy and sell real estate in 1991. Foreclosures are on the rise, prices have dropped significantly and everything the media has to say is doom and gloom. There is one big difference, though and that is interest rates. [...]

Fannie Mae, one of the nations largest players in the secondary market (where mortgages are bought and sold) has just changed its mind about requiring an additional 5% down payment in areas that it considers to have “declining market values”. Of course, a declining market encompasses most of the United States. So, the [...]

Stay tuned because soon there will be new financing rules whether you’re looking to buy, refinance or sell. Yes, if you’re looking to sell and not buy again, these changes will effect you as well, since your buyer will need to qualify with the new rules. Who’s making these new rules you ask? [...]