Mortgage Insurance

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A moment for Boston

Your Guy for That Tuesday, April 16th, 2013 No Comments

moment-of-silence

All of us at Your Guy for That and Intown Focus Realty wish to extend our deepest heartfelt sympathy to the families, friends, and loved ones of the recent Boston Marathon tragedy.

There is no words, no gesture, and no thing can take the biting sting from loss; and only the honestly offered hand in wanting to help can be shown to help ease this painful path.

We ask all who wish to help in some small way, look to donate through your local Red Cross Disaster Teams, as they struggle to assist those in Boston. The link below will take you to their national donation website.

https://www.redcross.org/donate/index.jsp?donateStep=2&itemId=prod10002

Please take a moment of silence for those whose lives were lost, or changed during this horrific time.

The Boston Marathon tradition… Continue Reading A moment for Boston

Posted in Atlanta, Atlanta Beltline, Buyer Tools, College Park, Credit Score, East Point, Fannie Mae, Featured, Feed, FHA, First Time Homebuyers, Foreclosure, Fort McPherson, Freddie Mac, Fulton County, Green Homes, Hapeville, Home Inspections, Home Maintenance, Homepage, Interest Rates, Investment Real Estate, Legal Issues, Metro Atlanta, Mortgage Assistance, Mortgage Insurance, Mortgage News, News & Reports, Open House, Real Estate, Renting, Schools, Sellers, Short Sale, Small Business, Taxes, Uncategorized

Fulton County School Board: Reject the proposal to acquire homes for East Point School!

Your Guy for That Monday, November 12th, 2012 No Comments

Petition by Jenny Stone, East Point, GeorgiaPetitioning President, Fulton County School Board Friends,
Many of you have been instrumental in communicating to the Fulton County School Board your thoughts on the proposal being made to include our home, and several others, in a land acquisition in order to rebuild an elementary school in East Point. At this juncture, we cannot block the Fulton County land acquisition group from making their proposal. But, we can make strides to encourage the School Board to reject options that would include private land acquisition.  We do not have a firm date on when the proposal will be made to the Board. But, we believe it to be in the new year. As such, we need your help again to ensure that the Board has heard from people that are in objection to ho… Continue Reading Fulton County School Board: Reject the proposal to acquire homes for East Point School!

Posted in Atlanta, Atlanta Beltline, Buyer Tools, College Park, Credit Score, East Point, Fannie Mae, Featured, Feed, FHA, First Time Homebuyers, Foreclosure, Fort McPherson, Freddie Mac, Fulton County, Green Homes, Hapeville, Home Inspections, Home Maintenance, Homepage, Interest Rates, Investment Real Estate, Legal Issues, Metro Atlanta, Mortgage Assistance, Mortgage Insurance, Mortgage News, News & Reports, No New Taxes, Open House, Real Estate, Renting, Schools, Sellers, Short Sale, Small Business, Taxes, Uncategorized

Ten Commandments When Applying for a Real Estate Mortgage

Your Guy for That Wednesday, August 29th, 2012 No Comments

 Ten Commandments When Applying for a  Real Estate Mortgage
1)  Thou shalt not change jobs, become self employed or quit your job. Lenders like consistency.  Changing jobs within your field shouldn’t be a problem.
 2) Thou shalt not buy a car , truck, van or boat, Or you may be living in it
3)  Thou shalt not use charge cards excessively or let your accounts fall behind
4)  Thou shalt not spend money you have set aside for closing
5)  Thou shalt not forget to file your tax returns, all loans require 2 years tax returns these days, no matter your field of business
6)  Thou shalt not buy any big ticket items.
7)  Thou Shalt not originate any new inquiries into your credit or open any new credit lines.
8) Thou shalt not make large deposits into your checking or saving… Continue Reading Ten Commandments When Applying for a Real Estate Mortgage

Posted in Atlanta, Atlanta Beltline, College Park, Credit Score, East Point, Fannie Mae, Feed, FHA, Fort McPherson, Freddie Mac, Fulton County, Hapeville, Homepage, Interest Rates, Metro Atlanta, Mortgage Assistance, Mortgage Insurance, Mortgage News, Real Estate

Credit Xpert Can Help You

Your Guy for That Monday, August 27th, 2012 No Comments

Credit Xpert

The minimum credit score needed to get an FHA loan these days is 640.  It is true that many people have major credit problems and won’t be able to buy anytime soon period.  However, many potential buyers are not far from the 640 threshold and just need a little help and guidance to get over the hump.  Fortunately, at Fairfield, we have access to technology which enables us to inform these people what they need to do to get their score over 640.

The system we use is called Credit Xpert and it uses a “what if” simulator to let us know how much specific actions taken by a potential buyer will impact their credit score.  One of the most impactful things a buyer can do to improve a score is to pay down credit cards.  The scoring model penalizes one’s score… Continue Reading Credit Xpert Can Help You

Posted in Atlanta, Atlanta Beltline, College Park, Credit Score, Fannie Mae, Feed, FHA, Fort McPherson, Freddie Mac, Fulton County, Hapeville, Homepage, Interest Rates, Metro Atlanta, Mortgage Assistance, Mortgage Insurance, Mortgage News, Real Estate

FREE Home Buyer Workshop: July 21, 2012

Your Guy for That Tuesday, July 17th, 2012 3 Comments

Next FREE Workshop – July 21, 2012 @ 1:00 PM
You are invited to attend this FREE Workshop on July 21, 2012 where you’ll learn why we are experience market conditions that we’ve never experienced before and how to navigate the home buying process in this ever changing environment. Some homes are selling for pennies on the dollar while others sell for over asking price. Some homes have been on the market for a year or more while others go under contract before you even find them online. Do you know why? Join us and find out! Scroll down to register and save your seat.

Rental Rates are on the Rise
There has never been a better time to enter the real estate market, particularly with climbing rental rates. So why throw away money on rent when you can be your own landlord?

Mortgage R… Continue Reading FREE Home Buyer Workshop: July 21, 2012

Posted in Atlanta, Buyer Tools, College Park, Credit Score, East Point, Fannie Mae, Feed, FHA, First Time Homebuyers, Foreclosure, Freddie Mac, Fulton County, Hapeville, Home Inspections, Interest Rates, Legal Issues, Metro Atlanta, Mortgage Insurance, Mortgage News, News & Reports, Real Estate, Renting, Sellers, Short Sale, Taxes

FHA Incentives to Refinance or BUY NOW!

Your Guy for That Wednesday, March 14th, 2012 No Comments

FHA Incentives to Refinance
President Obama announced a new major FHA change last week that generated a lot of press and has a lot of substance. Home owners who purchased prior to May 31, 2009 using FHA financing will be allowed to refinance at an up-front mortgage insurance (MIP) factor of only .01% and an annual MIP factor of only .55%. Note in segment below that these factors are increasing by significant amounts in just a few weeks so this will equate to HUGE savings for any eligible home owner. This is a big deal equating to a savings of $100 a month on a $150k loan!

FHA Incentive to Finalize Contracts By April 6th
As announced last week, effective with all case numbers assigned on or after Monday, April 9th (originally reported as Apr 1st), FHA up-front mortgage insurance (MIP… Continue Reading FHA Incentives to Refinance or BUY NOW!

Posted in Feed, FHA, Mortgage Insurance, Mortgage News, News & Reports, Real Estate

FHA MIP Going Up Again

Your Guy for That Monday, March 12th, 2012 No Comments

FHA mortgage insurance is called MIP (Mortgage Insurance Premium) and is collected two ways, up-front and per month. Over the last few years, FHA has already increased the MIP several times. Unfortunately, they are back at it again. Effective with all case numbers assigned on or after April 1st, the up-front MIP is increasing from 1% to 1.75% and the monthly MIP is increasing from 1.15% to 1.25% (this is an annual % which you multiply times the loan amount and divide by 12 to get the monthly MIP amount).
FHA has given two main reasons for these increases. The first is to rebuild the agency’s capital reserves, and the forecast is that these increases will add another $1.25B. in revenue per year. The second is to encourage the return of private capital back into the residential mortgage mar… Continue Reading FHA MIP Going Up Again

Posted in Buyer Tools, Feed, First Time Homebuyers, Mortgage Insurance, Mortgage News, News & Reports, Real Estate

HARP 2.0 Rolling Out March 19th

Your Guy for That Wednesday, March 7th, 2012 4 Comments

For those upside down on their mortgage, good news may be on the way. The government-sponsored HARP program has been around for years but with limited success. Several key changes have been made to the program and a new improved HARP 2.0 is being unveiled on March 19th.
The biggest change is that moving forward a home owner will be able to refinance despite the value of the owner’s home. Thus, unlimited loan-to-values will be allowed, meaning someone could owe twice as much as the value of their home and still be able to refinance it. The other big change is that if someone has private mortgage insurance (PMI) now, they will be able to refinance maintaining the same level of PMI. It took years of work to get PMI companies on board with this plan but systems are now in place which will ena… Continue Reading HARP 2.0 Rolling Out March 19th

Posted in Atlanta, College Park, East Point, Feed, Fulton County, Hapeville, Legal Issues, Metro Atlanta, Mortgage Insurance, Mortgage News, News & Reports, Real Estate

FREE Home Buyer Seminars Return to East Point

Your Guy for That Monday, February 27th, 2012 No Comments

There has never been a better time to enter the real estate market, particularly with climbing rental rates. So why throw away money on rent when you can be your own landlord?

Mortgage rates are near historic lows. Great homes haven’t been this affordable since 1997, and the  market is full of highly motivated sellers. Fairfield Mortgage will be on-site to answer financing questions and to offer pre-qualification.

So you’re interested but don’t know where to start? East Point is offering a free seminar for potential first time home buyers and you are invited to join us at any one of the following seminar dates:
2012 Seminar Dates:
March 17th
May 19th
July 21st
September 22nd
All Seminars will be in the Blue Room at Jefferson Park Recreation Center and start promp… Continue Reading FREE Home Buyer Seminars Return to East Point

Posted in Atlanta, Buyer Tools, College Park, Credit Score, East Point, Fannie Mae, FHA, First Time Homebuyers, Foreclosure, Freddie Mac, Fulton County, Green Homes, Hapeville, Home Inspections, Home Maintenance, Interest Rates, Investment Real Estate, Keller Williams, Metro Atlanta, Mortgage Insurance, Mortgage News, News & Reports, Open House, Real Estate, Renting, Taxes

Mortgage Insurance Guidelines Easing Up

Your Guy for That Thursday, February 23rd, 2012 No Comments

A few years back, mortgage insurance guidelines got so strict that it became common for a loan officer to obtain a mortgage approval from an investor and then run into a Private Mortgage Insurance (PMI) approval problem.  The main reason for this is that the PMI guidelines had become stricter than the investor guidelines.  Well, good news to report on this front as not only are the PMI guidelines easing up a bit, but a new trend has emerged where PMI companies are once again automatically approving a loan if the lender obtains an approval through either Fannie Mae’s DU or Freddie Mac’s LP automated underwriting system.  This is a wonderful development that will be of great benefit to realtors, lenders, and borrowers alike.  When a borrower submits an application for a Conventional loan… Continue Reading Mortgage Insurance Guidelines Easing Up

Posted in Buyer Tools, Fannie Mae, Feed, First Time Homebuyers, Freddie Mac, Mortgage Insurance, Mortgage News, News & Reports, Real Estate
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