Flames, Floods and Fury: Preparing Your Financial Records for the Unexpected

It is quite clear from many recent events that Mother Nature is more than capable of springing some nasty surprises with the weather which can cause terrible devastation and damage, not to mention some events that can be equally as damaging that are manmade. In times of upheaval and sometimes extreme difficulties, we want to […]

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FHA Wont Allow Cancellation Of Mortgage Insurance Anymore; Increases Premium

FHA recently announced changes to mortgage insurance premium for home loans insured by the agency. The new guidelines will make FHA loans more expensive. You will also need to pay mortgage insurance for the life of the loan in most cases. Changes to FHA Annual Mortgage Insurance Premium The below chart shows the changes coming […]

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Another Week, Another Increase In California Mortgage Rates

According to Mortgage Bankers Association’s (MBA) weekly mortgage application survey, California mortgage rates has now increased seven of the last eight weeks. Most of the big banks are now advertising Annual Percentage Rates (APR) just under 4%. 30 Year and 15 Year Fixed Mortgage Rates The average interest rate for 30-year fixed-rate mortgages with conforming […]

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Mortgage Rates Skyrocket – Crosses 4% Mark At Some Banks

Mortgage Rates have skyrocketed to their highest levels since August 2012, prompting some banks to increase the rate to 4% and beyond. On Friday, MBS (the mortgage backed securities that directly influence mortgage rates) tanked 62 basis points. That came after 26 basis points drop on Thursday. More bad news continued on Monday when long-term […]

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How To Get The List Of All FHA Approved Condos {Video}

I did a quick video to show you how you can find out a list of all FHA Approved condominiums. You can search for all approved condos in a certain State, City or Zip code. You can also search if a certain condo is FHA approved or not. And if you need help with FHA […]

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California 30 Year Fixed Mortgage Rates Climb For Third Consecutive Week

According to Mortgage Bankers Association (MBA) weekly survey, California mortgage rates increased again last week. The rates have now increased for five out of last six weeks. This is the third consecutive week that 30 year fixed rates have gone up. Overall the rates have gone up by .25% after hitting the lowest levels in […]

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Conforming Jumbo and FHA Mortgage Rates Rise For Second Consecutive Week

According to Mortgage Bankers Association’s (MBA) latest weekly survey, mortgage rates for conforming jumbo (also called High Balance Loans) and FHA loans increased again last week. This is second week in a row that the rates have gone up. And if that was not enough, by the end of Thursday, mortgage backed securities tanked by […]

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7 Things You Need To Know About Qualified Mortgage (Ability To Repay Rule)

What is a Qualified Mortgage rule? Qualified Mortgage (QM) rule, also called Ability To Repay rule is part of implementing the Dodd-Frank act. QM rule implemented by Consumer Financial Protection Bureau (CFPB), is the first ever attempt at defining and establishing a basic standard for qualifying borrowers for mortgage loans. Loans that qualify as “Qualified […]

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California Mortgage Rates Rise To The Highest Levels Since November – Now At 3.61%

According to Mortgage Bankers Association, mortgage rates for California, Washington, Oregon and rest of the country rose sharply in the first week of 2013. The rates are now at the highest levels since November. Fannie Mae 3% coupon (mortgage backed securities) tanked by 69 bps last week. This usually has inverse relation to the rates […]

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Is HARP-3 For California Homeowners On It’s Way? #MyRefi

Refinancing help for underwater California homeowners whose loan is not backed by Fannie Mae or Freddie Mac may soon become a reality. Unofficially billed as HARP-3, it is one of the top priorities of Obama government. Obama government is considering expanding the Home Affordable Refinance Program (HARP) to include homeowners who are underwater but whose […]

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