Mad Mortgage Machine Ep 2
This week Dave discusses the FHA Home Loan regulations, new seller concessions, FHA and Flipping, Higher Down Payment, and the Biz Booster of the week is ID Theft.
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Dave Woodson
The Mad Mortgage Machine
Why would someone go with an FHA home loan vs. a Conventional home loan?
Dear Mad Mortgage Machine,
I am married and my husband has quite a bit of debt, and I do not plan on paying off prior to buying a home. If I go FHA, his debt is added to my debt even though I am the only one on the loan. If I go [...]
Who is responsible for filing a Homestead and mortgage exemption?
Dear Mad Mortgage Machine,
The taxes in our area when up drastically. My friend asked me to review his tax bill and I noticed he did not have a Homestead or Mortgage exemption. He has a 30 year mortgage on the property and it is his only & primary residence. He’s had [...]
Who in Indiana needs me?
I was thinking just the other day, “who needs me”. No, I was not feeling sorry for myself ready to drive into the oncoming traffic and end it all, but who out there needs my services. Who NEEDS me! Who can use my services?
This is what I came up with (in no particular order), and [...]
B +
B+
Be Positive
On Friday, I heard a commercial for mortgage guy out of Chicago and his message was just all over the place, but it was mostly negative. He was not being negative on his competition, but on the “market” on a whole. I was shocked by his comments. I was thinking what a fail of [...]
Indiana First Time Home Tax Credit
Revisited…
Lately, I have been getting some calls and emails about the Indiana First Time Home Buyer Tax Credit from some very confused Indiana home buyers and agents alike.
I want take just a moment and straighten out a few of the misconceptions that are there.
Lets set the record straight once and for all and let me [...]
Why an Indiana FHA Makes Sense
Are you looking to buy a home in Indiana? Or, are you struggling to keep your home? Perhaps you should consider a FHA Home Loan. A FHA loan is a government-backed loan that generally has a lower interest rate than many conventional more traditional Indiana home loans. So, before you write off this home loan [...]
Read more »Ten Great Reason to be a First Time Home Buyer
And, now to conclude the Top Ten Reason to be an Indiana First Time Home Buyer.
Part 2
5) Seller’s all across Indiana are more willing than ever to give incentives for First-Time Home Buyer up to 6% in many cases
4) The Interest, Mortgage Insurance, & Property Taxes can all be written off on your taxes, thus [...]
How Porkulus will affect Indiana Mortgage Rates
The American Recovery and Reinvestment Act of 2009(Porkulus) was signed into law Tuesday in Denver, Colorado(for a bill that President Obama said we needed why did he wait 3 days to sign it).
Tuesday, however, the stock markets fell near their November 2008 lows.
The two actions are related. (for every action there is a reaction)
For [...]
The Week Ahead
In anticipation of a strong, government-led stimulus plan, the mortgage markets improved with gusto early last week only to fizzle with equal speed as efforts fell short of expectations. I really think the ball is being dropped on this Porkulus package, they are not getting the right people involved in the development of some stimulus.
The [...]
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