Tax Credit Closing Extension signed by President Obama

Good news!  President Obama this morning signed a tax credit extension for homebuyers who had a contract dated on or before April 30th of this year.  The extension is expected to help an estimated 200,000 people complete their home purchases in order to receive the $8000 tax credit, which has been running the past few years. The ...

$8000 Tax Credit Extension Deadline Looms for DFW

As the government squabbles to extend the deadline for buyers to close on their homes and claim the tax credit, anxious first time buyers are hoping they get something accomplished so they don’t miss out on their $8000.  I don’t blame them.  $8000 is a big chunk of change to ANYONE (ok maybe not Bill Gates).  But for the rest of us, that type of money can make a big difference ...

How to Find Foreclosures in Dallas-Fort Worth

For the second straight month, the number of foreclosed properties across the United States jumped to a record level, according to RealtyTrac.com.  The total number of repossessions is estimated to be as high as 93,000 across the nation. This is somewhat surprising, being that April was the first month in recent history where the number of foreclosures actually fell from the previous month.  Long story short, this behavior is indicating somewhat that ...

FHA Plans to Lower Seller Concessions This Summer

The Federal Housing Administration, which currently offers one of the most popular types of home loans (FHA), is changing one of its most celebrated aspects this summer, at least that's what the rumor is.  The aspect I am referring to is the maximum amount of allowable seller concessions, which permit property owners to pay for some of the services and fees connected with the loan transaction.  Inspections, origination, escrow and title fees are ...

All About HELOC’s (How exciting!)

One of the good things about having a mortgage is the ability it gives you to build up equity in your home.  What's equity you ask?  Well, you can click here or I can tell you really quick.  Quite simply, equity is the amount of money you have already paid against the value of your home, and it is an easy value to determine with a little bit of math.