**There are some possible changes coming in the near future. Here is what is in the works: (Not an official announcement)**   I just returned from the National Association of Realtors® convention in Washington D.C. and want to share some of the valuable information I received. There are three major CHANGES approaching: 1 – Modifications to the Rural Housing program 2 – Tighter restrictions on FHA loans 3 – Adjustments to FHA mortgage insurance  

These announcements are not official yet! They should come out with official statements in the next few weeks.

1) The Rural Housing Program

The current delinquency rates on Rural Housing loans are at a 10 year low! Due to this success the government wants to keep the program running.…

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Will you be able to get a loan next year?

Loan products keep dying.

They have been dying for the past 2 years and are vanishing even more lately. Last year we saw banks going out of business right before loans were scheduled to close. Subprime loans disappeared last year. And now in the past 6 months I have watched banks reduce people’s credit lines to the amount they owe! Why are they doing this? They are trying to eliminate risk.

Loan Risks have Increased: According to KSL news, in a recent article, http://www.ksl.com/?nid=148&sid=6921232 FHA risk has increased 8 fold.

Relocation Industry is having new loan problems

Fanniemae has changed their policies to not allow trailing incomes. In the past, when a family relocated Fanniemae…

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Loan products keep dying.

They have been dying for the past 2 years and are vanishing even more lately. Last year we saw banks going out of business right before loans were scheduled to close. Subprime loans disappeared last year. And now in the past 6 months I have watched banks reduce people's credit lines to the amount they owe! Why are they doing this? They are trying to eliminate risk.

Loan Risks have Increased: According to KSL news, in a recent article, http://www.ksl.com/?nid=148&sid=6921232 FHA risk has increased 8 fold.

Relocation Industry is having new loan problems

Fanniemae has changed their policies to not allow trailing incomes. In the past, when a family relocated Fanniemae would recognize income from a spouse that didn’t have…

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Yes you can! Get $8,000 from the government to help buy your new home!

It was announced earlier this week that some changes have been made to the $8,000 Federal Tax Credit. The U.S. Department of Housing and Urban Development gave authorization to allow first-time buyers to use their $8,000 UPFRONT. This means it can be used to cover closing costs, to increase your down payment, or buy down your interest rate.

This first-time homebuyer tax credit started last year to help buyers purchase their first home. More details about the loan itself are available here: $8000 Tax Credit. The original tax credit was more like a government loan that had to be repaid. It was improved earlier this year making it so it does not have to be repaid!

This latest…

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Does the bailout help me with my mortgage?

All over the news you hear of corporations getting bailout money. But what is difficult to understand is what about the homeowner that needs a little mortgage relief.
There is a website that is being built that will help you understand if there is any help in it for you. http://www.financialstability.gov is the place to go to read more about the bailout.

Yes, that site might be a little technical or confusing. A friend of mine Ryan Wright here in Utah is also helping people save their homes. http://www.saveutahhomes.com/ You can go to his site to see options for saving your home.

If you are thinking of selling even if your home is upside down or if you are late on payments, we have higher short sale close…

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Does the bailout help me with my mortgage?

All over the news you hear of corporations getting bailout money. But what is difficult to understand is what about the homeowner that needs a little mortgage relief.
There is a website that is being built that will help you understand if there is any help in it for you. http://www.financialstability.gov is the place to go to read more about the bailout.

Yes, that site might be a little technical or confusing. A friend of mine Ryan Wright here in Utah is also helping people save their homes. http://www.saveutahhomes.com/ You can go to his site to see options for saving your home.

If you are thinking of selling even if your home is upside down or if you are late on payments, we have higher short sale close…

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Tricks to Refinancing your home…even if you don't qualify!

Many people are taking advantage of refinancing! I mean this is history right now with lowest rates in decades! But what about those who are in their home and aren’t sure if they qualify? Here are the tricks to refinancing.

1. Where do I get the best rates?

You can shop around! However, it is confusing as some people say they will give you no costs. I know one person that told me, I got the greatest deal with no costs but his interest rate was pretty high. Don’t fall for no costs. Be sure to compare APR’s as those will include costs. The best place we have found closing costs and rates have been local mortgage broker. Tim Peterson tim@rightsidelending.com or Sandy Lowe sandy@silverrm.com

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