A report by the Mortgage Bankers Association (MBA) has determined that high student loan debt is slowing the recovery of the real estate market. First time buyers are finding it difficult to meet al their obligations and are delaying the purchase of a home or choosing to rent instead of own. FHA is also changing rules that had helped grads in the past. A rule change that could … Keep reading... about College Loans Hurt Buying Real Estate
Mortgages & Financing
New Mortgage Rules
The Consumer Financial Protection Bureau has issued regulations to protect borrowers from loans they cannot afford and make banks more responsible for those loans. Some of the new rules include the requirement that homeowners will get a monthly statement of account or a coupon book to make payments showing the current mortgage balance, payment amount and next due … Keep reading... about New Mortgage Rules
New FHA Mortgage Limits
On December 6 HUD has released updated loan limits for FHA financed single family homes. NORTH PORT-SARASOTA-BRADENTON, FL MSA (Metropolitan Statistical Area) Sarasota & Manatee Counties $285,200 PUNTA GORDA, FL (MSA) CHARLOTTE County $296,250 24143 Peachland Blvd Port Charlotte, FL 33980 Office: (941)235-0933 Chase Lending Advisors … Keep reading... about New FHA Mortgage Limits
Be Careful When Applying for a Mortgage
There are many things that can go wrong, even after you have been pre-approved. Click here to read the do's and don't's: http://rotonda.suncoasteam.com/2013/01/23/how-to-mess-up-a-mortgage-pre-approval … Keep reading... about Be Careful When Applying for a Mortgage
Is Paying Down Your Mortgage Early a Good Idea?
In today's economy, the attraction of quickly reducing and possibly eliminating the burden of a mortgage is very appealing to many home owners. But, is paying down your mortgage really the best idea? The average consumer may argue that paying off their mortgage debt faster is a smart decision since ridding oneself of quite possibly the largest financial obligation they will … Keep reading... about Is Paying Down Your Mortgage Early a Good Idea?