During a recent teleconference with the U.S. Department of Housing and Urban Development (“HUD”), NAMB learned that HUD plans to publish the new FHA loan limits in a Mortgagee Letter to be issued during the first week of March. HUD will publish separate lists for the FHA program and the GSEs. Additionally, HUD will be… Continue Reading
Monthly Archives: February 2008
Free Seminar – Understanding Credit & Credit Repair – March 8th at 10:00AM
There will be a Free Seminar on Understanding Credit & Credit Repair on March 8,2008 at Citizens Lending Group’s Office in Newark, DE from 10:00 AM till Noon. The seminar will cover the current credit scoring model and go over in detail each of the 5 scoring categories along with how much each category is… Continue Reading
Free Budgeting Seminar – March 5 from 6:30 PM till 8:00 PM
There will be a Free Budgeting Seminar on March 5, 2008 from 6:30 PM till 8:00 PM at the Citizens Lending Group’s Office in Newark, Delaware. The seminar will cover the basics of making a household budget, how to track daily, weekly, and yearly expenses, and how to use your budget as part of an overall… Continue Reading
Doug MacGray’s Weekly Financial Update – Week of February 25, 2008
FORECLOSURES OVER HYPED?: The foreclosure figures used by much of the media come from RealtyTrac, a source that counts each filing in the foreclosure process. One house has to go through several steps in the process (each with its own “filing”), so counting each one as a separate foreclosure, as many in the media do, is inaccurate. … Continue Reading
First Time Home Buyer Seminar – March 22nd at 10:00 AM
There will be a Free First Time Home Buyer Seminar on Saturday March 22, 2008 at 10:00 AM. The seminar will last about 2 hours and each participate will be able to recieve a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. … Continue Reading
No PMI Loans in Delaware?
What is PMI (Private Mortgage Insurance)? PMI is “foreclosure insurance” for the Lender and only benefits the Lender. In the event you default on your loan, the insurance company will pay the Lender. PMI is usually required on loans with less than a 20% down payment. When you borrower more than 80% of the purchase… Continue Reading
Doug MacGray’s Weekly Financial Update – Week of February 11, 2008
SERVICE JOB LOSSES CAUSE MARKET LOSSES: The Institute for Supply Management (ISM) non-manufacturing index dropped from 54.4 in December to 41.9 in January. Anything higher than 50 on that index shows expansion, and anything lower shows contraction. This is the lowest reading since October 2001. The markets were spooked by the ISM numbers and… Continue Reading
Stimulus Package Passes Senate: What Now?
With an 81 to 16 vote, the Senate passed an amended version of H.R. 5140, a $150 billion plan to jumpstart the economy with temporary tax breaks for consumers and businesses, extended benefits, and most importantly, two provisions designed to assist the housing market.According to CNN, the House is expected to consider and pass the… Continue Reading
Free First Time Home Buyer Seminar – February 23, 2008 at 10:00 AM
There will be a Free First Time Home Buyer Seminar on Saturday February 23, 2008 at 10:00 AM. The seminar will last about 2 hours and each participate will be able to recieve a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in… Continue Reading
New Castle County, Delaware Sewer Bills are Due By the end of February
New Castle County has sent out the sewer bills and the first thing you will notice is that they are considerably higher than they were last year. Why? Because New Castle County needs to pay for its inflated government jobs and its very liberal pension plan that we flip the bill for. Oh yeah, they… Continue Reading