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Start Your New Year Right – Find Out What Is On Your Credit Report

A survey by Public Interest Research Group found that 79 percent of credit reports contained an error, with 25 percent having a serious error that would disqualify the consumer from buying a house, opening an account, or getting a job (Source: Associated Press)

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More Information on the $8000 Homebuyers Tax Credit – How to Claim the Credit

Update Jane 15, 2010: IRS Release From to Claim Credit for 2010. It is almost tax time and with the extension of the first time homebuyers tax credit, along with the addition on the move up credit, the questions are

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Posted in Mortgage News

Frist Time Homebuyers Credit Extended – Repeat Buyer Tax Credit Passed

UPDATE: President Obama signed the extension on the 9th of November *********************** Look for President Obama to sign the First Time Homebuyers Tax Credit Extension with an added Repeat Buyer Tax Credit provision on December 1, 2009. There are several

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Current FHA Loan? Thinking of Re-fi? NOW is the Time

If you have a current FHA loan and have been thinking of looking at a re-fi, now would be the time. On November 17, 2009, new, much stricter guidelines go in to effect for those wanting to take advange of

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Before Shopping for a Lake Powell Home For Sale – Financially Speaking

The process of purchasing a home can be long and full of twists and turns. Of course, having a Realtor help you through the process can help you avoid some of the pitfalls and potholes. That said…….. One of the

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Posted in Mortgage News

FHA Reserves to Drop Below 2%, Will See Tighter Restrictions

According to a  Washington Post  article yesterday, when the new audit report comes out in the next 2 weeks, it will show the FHA (Federal Housing Administration) reserves have fallen below 2%, which is their legally mandated minimum. FHA guarantees

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HUD Announces $8000 Tax Credit Can go to Closing Cost, etc.

In a zippy, an unexpected twist, HUD announced today the $8000 tax credit can be used as a bridge loan to help cover closing costs as well as an addition to the 3.5 % required down payment.  First time homebuyers

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Posted in Mortgage News

New Rules for Appraisals in Effect – What HVCC Means for the Lake Powell Real Estate Market

HVCC , the Home Valuation Code of Conduct, has recently gone in to effect. The thought behind this, as far as I can tell, is to protect the consumer from lenders, Realtors and appraisers working together to set a price

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Posted in Mortgage News