Home Prices across most of the U.S. fell for a second straight quarter at the end of last year. According to one report, home prices in both Wilmington and Dover declined in the fourth quarter of 2007. Nationwide studies suggest the market hasn’t hit bottom yet. This means it is a great time to be… Continue Reading
Monthly Archives: March 2008
Doug MacGray’s Weekly Financial Update – Week of March 10, 2008
STRUGGLING ECONOMY: Clearly, we are in a poor situation. Almost all data that came out last week was negative, and the markets responded in kind. The job numbers were negative. Construction spending fell by -1.7%, mostly due to a drop in residential construction. Consumer credit grew by $6.9 billion. Factory orders dropped -2.5% in January.… Continue Reading
New Delaware FHA Loan Limits for 2008
HUD annouced on Thursday 3/6/2008 that it had completed the revised loan limits for FHA loans. The new amounts for 2008 are broken down by county. New Castle County will have a new maximum FHA loan amount of $420,000. The old limit was $292,685. Kent County will have a new FHA loan limit of $417,000… Continue Reading
Doug MacGray’s Weekly Financial Update – Week of March 3, 2008
As we head into the third month of the year and what seems like the third year of this year’s presidential election, I hope you are well and that you are weathering the choppy economic environment as well as all of life’s other challenges. LAST WEEK’S MARKETS: The markets advanced for the first four days of… Continue Reading
Court Decision Upholds Down Payment Assitance Programs for FHA Loans!
I am pleased to announce that Nehemiah was victorious in its litigation against HUD! Judge Lawrence K. Karlton of the United States District Court for the Eastern District of California upheld Nehemiah’s motion for summary judgment. The Court Clerk’s Office is directed to enter judgment and close the case. To be clear, the U.S. Department… Continue Reading