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 [...]
The IRS Indiana First Time HomeBuyer Form
First Time Indiana Home Buyers, As part of the American Recovery and Reinvestment Act of 2009, the IRS has officially released Form 5405 — better known as the…First-Time Homebuyer Credit Form.
True to tax code standards, the 10-field form is accompanied by 3 pages of instructions, but don’t worry it is not that bad. However, [...]
Best time to Refi in Indiana
If you are in Indiana and have any equity in your home it is the perfect time to refi. Rates are still historically low, and soon there will be some changes from Fannie and Freddie that will make refi’in a tad harder. I have a great example of why it is more than perfect time [...]
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Consumer Confidence fell this month for the first time in three months, reflecting how concerned Hoosiers are for this economy, housing, and the financial system.
The report is not that much of a surprise given that our collective exposure to a near-constant stream of negative news from the likes of CNN and BSNBC. Before long, the [...]
Not Good News
Well, rates…after improving for 11 straight weeks, Indiana mortgage rates ticked higher last week. This is according to Freddie Mac’s weekly mortgage rate survey,and the Freddie Mac survey showed that mandatory mortgage fees rose last week.
Well, unfortunately, the bad news for rate shoppers just doesn’t stop there.
Since, Freddie’s survey is done on a Tuesday and [...]
Read more »Looking Past the Headlines
Another week and more screaming headlines about mortgage rates falling to an all-time low. If you are in Northwest Indiana and are not taking advantage of this. I will post the number to the local asylum, they are looking for more nuts.
Freddie Mac published its weekly mortgage rate survey yesterday and it found [...]
Read more »Oh, you waited, well you lose but not much
When it comes to mortgage rates, sometimes it’s better to “act now”. (when I tell you)
On Tuesday, Indiana FHA rates fell to the lowest levels that I have seen in nerly 4 years. Why, because the Fed let it be known that they would “use all available tools in their black bag or tricks” to [...]
4.5% Seriously, yes, I am serious
A couple of weeks ago, when I first heard of this so-called idea for the treasury to buy Mortgage Backed Securities to drop the rate. I was unsure what to think of it, but as my phone starts to ring more and more. I am liking it. We are not there yet to 4.5% interest [...]
Read more »Real Estate Chart of the Day
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