$8000 First Time Home Buyer Tax Credit Deadlines

3 10 2009

The government’s First-Time Home Buyer Tax Credit program expires November 30, 2009 — a scant 60 days from today.

In this video, Chris Brown provides critical milestone dates originators, Realtors and homebuyers must be aware of if they plan on taking advantage of the Federal $8000 First Time Home Buyer Tax Credit set to expire November 30, 2009. Knowing when it expires and that it is for $8000, isn’t enough, yet that is what 99% of the videos tell you about.

Here is what you NEED to know and the DATES to focus on!

Five Factors that Make Up a Credit Score

9 04 2009

Linda Ferarri, President of Credit Resource Corporation, is an expert on credit remediation. Watch this informative video clip now and find out what five elements make up a credit score.

Five Factors that Make Up a Credit Score

Mortgage Pricing Report- October 13, 2008

13 10 2008

If a family member asked my advice and they were scheduled to close on a mortgage purchase or refinance in the time periods noted below, I would recommend…

1-7 Days 8-20 Days 21-45 Days 46 Days Plus
Locking Locking Floating Floating

Check MBS pricing here.

4:22 PM EST Market News

As predicted last Friday by “Brian Brady” and his partner Sean Purcell, the Dow Jones Industrial closed up more than 900 points today after last weeks plummet.

12:36 PM EST Market News

The Dow Jones Industrial Average is up more than 500-points in trading today. The DOW has now moved above the 9,000 mark.

9:53 AM EST Market News

Today the bond market is closed in observance of Columbus Day. That said, later this this week I’m expecting movement in mortgage rates based on the release of September’s Retail Sales report and Producer Price Index (PPI) this Wednesday.

“WOW” is the only word that expresses the speed at which the financial markets moved the last 45 days. Last week the markets were in a once-in-a-generation financial panic. Panics can build quickly, but their resolutions take time. Even though the markets over-reacted, don’t expect things to get back to normal right away. Increased troubles in the financial system have been met by increased efforts from the G-7 central banks and governments.

It’s important to remember, this is not the Great Depression, yet there is certainly some downside for the economy in the near term.

Another key point…consumer spending accounts for over 70% of GDP and all indicators point towards negative 3Q08 growth in the US economy. Part of the third quarter decline in consumer spending represents the dwindling effect of tax rebates in 2Q08. However, the lagged impact of higher energy prices is also a major factor. Higher inflation led to a year-over-year decline in real wages. When that happens, it’s hard realizing growth in real consumer spending when real wage growth is weak. Additionally, a weakening labor market will limit nominal wage growth in the near term.

On the upside, falling energy prices should help mitigate or increase discretionary consumer income. Thus, lower inflation will lift consumer purchasing power.

Also, Central banks and governments have responded very aggressively to the crisis. In the U.S., the Federal Reserve has provided significant liquidity injections through open market operations, expanded existing liquidity facilities, and introduced several new liquidity facilities.

Underneath The Hood of The Bailout Bill

5 10 2008

Both the House and Senate passed the massive bailout bill this week.

What caused this mess and what does it mean for everyday people like us?

Take the time to listen to an interview by Brian Brady, Sean Purcell and Greg Swann addressing:

  1. “The Community Reinvestment Act (original sub-prime loans), conceived in 1977 and super-charged in 1995, was the actual starting point of the “toxic loan” revolution that took our economy down.
  2. The Bailout may be an instrument to keep people into homes through the “loansharking collection” principle.
  3. Predictions about the convergence of low-priced and mid-priced homes through financing caps.”

Listen to Podcast here.

Did The Push To Make Every American A Homeowner Cause Fannie/Freddie Collapse?

30 09 2008

I really hate getting partisan or political. Believe me when I tell you, BOTH Republicans and Democrats talk out both sides of their mouth. Yet today, I kept hearing Republicans blamed for the failure to regulate Fannie and Freddie properly and that’s just a plain outright lie.

Again, I’m not endorsing one party over the other, however on this housing issue one party is shifting the blame.

Simple Steps To Keep Home Insurance Down

26 09 2008

As homeowners insurance premiums rise across the nation, Bankrate.com writes a helpful story on ways to keep your premiums down. The tips may surprise you.

Some of the highlights include:

  1. Don’t think a series of small claims is better than one big claim. The smaller clains are more expensive to process for an insurer and may result in higher premiums for your home.
  2. Don’t lie about your history of claims — similar to CARFAX, homeowners have a “record” that track prior filings and getting busted is only a database search away.
  3. Higher credit scores can lead to lower premiums because homeowners will higher scores tend to make fewer claims.
  4. Your driving records impact your premium calculation.

The article also provides a fair amount of myth-busting so it’s worth a read. A few minutes could save you some good money on your home insurance.

(Image courtesy: Spot Lite Magic & Costumes)

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Understanding The Home-Buying Process

26 08 2008

Buying a home can be both an exciting and stressful process. Understanding the process, the players and terminology can help take the stress out of the experience and give you the confidence necessary to make the best decision for you and your family. Be patient and know once you have passed through each stage, you’re a little closer to being in you new home (that is if that’s what is best for you).


  • You dream of buying a home
  • You analyze your finances, decide how much you can afford and how much you will spend


  • You shop first for you mortgage options
  • You shop for a home
  • You select a home, make an offer and negotiate the price


  • The owner negotiates, you agree on a price, sign a sales contract and put up earnest money
  • You obtain a mortgage
  • You have the home inspected, obtain hazard insurance and prepare funds for closing. The lender and closing agents order the appraisal and title search
  • The closing agent brings a clear title, deed and termite certificate. The owner brings keys for the home to the closing
  • You bring the down payment, closing funds and insurance verification to the closing
  • The attorney/lender/real estate professional coordinates the signing of documents and the transfer of money and ownership
  • Ownership of the home is transferred to you at the closing
  • You move your possessions into your new home


  • You enjoy your new home and create a seasonal maintenance schedule