Effective June 1, 2010 Fannie Mae is mandating a number of additional qualifications for each mortgage application. These additional mandates are intended to ensure that the information collected from buyers when they apply for a mortgage are the same as when they go to close. Fannie Mae is … [Read more...]
Pending Home Sales Surge in Cincinnati and US
Due in large part to the Federal Housing tax credit the pending home sales in April surged to a 110.9 index rating up from 104 in March. How do we know that the tax credit was the cause of the increase? Well we can look at the historical data and see that the last surge of pending home sales … [Read more...]
Home Loan Modifications Impact Credit Scores in the Cincinnati Real Estate Market
The Making Homes Affordable program is designed to help individuals restructure their mortgages with their lenders. In lowering the monthly payments through renegotiating the terms of the loan, more people are able to avoid short sale and foreclosure situations. One unforeseen consequence is that … [Read more...]
