JB Group News Recap for 2010-07-06

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Posted on in General

JB Group News Recap for 2010-07-06

OneFee, a Good Faith Guarantee (JB Group Blog) >> http://ow.ly/24XQ3 # Extension of Homebuyer Tax Credit Closing Deadline Has New Life http://ow.ly/17W56B # Summit County, Colorado Residents Get Special Treatment From Lenders – http://ow.ly/25nkM #eagle #lake #pitkin #sumco # RT @SummitCountyCO: Summit County Event: [Jul 1] Habitat for Humanity ReStore opens http://ow.ly/17VEVD # FHA Commissioner Discusses RESPA Reform and SAFE Act Implementation http://ow.ly/17X09f # Drop in Pending Home Sales Aligns with Plunge in Purchase Apps http://ow.ly/17XVQy # A Snapshot of Homelessness in America – The simple numbers in subgroups like individuals, families, and youth do not… http://ow.ly/17YOPJ # Changes in Mobile-Home Lending http://ow.ly/17Zs6U #

by jberman
Posted on in Colorado

Summit County, Colorado Residents Get Special Treatment From Lenders

Did you know that Summit County, Colorado home owners get preferred treatment over just about every other county in Colorado? It’s true. There are only four counties in all of Colorado that are considered “High Balance, High Cost” counties. These areas get to take advantage of lower rates for loan amounts, that traditionally, are considered Jumbo mortgages in other parts of the state. Take a look, Colorado High Balance Counties (pdf). The four counties that get this special treatment include some of Colorado’s most picturesque portions of the state. Eagle, Lake, Pitkin, & Summit counties are home to many of Colorado’s mountain communities. Average home prices are high. In response, Fannie Mae designates these areas as high cost which allows homebuyers & refinancers to obtain conforming fixed and adjustable rate mortgages with balances up to $729,750. The difference in rates can produce significant savings. For example a $500,000, 30 year fixed mortgage at 5.5% has a principal and interest payment of […]

by jberman
Posted on in General

Weekly Twitter Digest for 2010-06-29

Congratulations to Erin Toll on her new role at Perry & Co. http://ow.ly/21Mn1 (via @perryandco) # Interagency Government Council Unveils Strategic Plan to End Homelessness http://ow.ly/17QymZ # Fannie Mae Fights Back Against Strategic Defaulters – From the Fannie Mae Release… Fannie Mae announced today poli… http://ow.ly/17Rw5G # Treasury Reviews State Housing Proposals. Awards "Hardest Hit" Funds http://ow.ly/17Smcm # Freddie Mac's Portfolio Shrinks in May. Delinquency Rate Flat http://ow.ly/17TcqT # V.A. Loans Harder to Get http://ow.ly/17TOzQ #

by jberman
Posted on in Consumer Education

From the Mailbag: Holding Title to a Home

Throughout the year we get lots of mortgage-related questions from our customers and readers of this blog. We thought it would be fun to start answering some of the questions on a regular basis as a featured post. If you have a question, send it to us through the contact us page. “I’m confused about the different ways one can hold title to a home. I’m a first-time buyer and my mom is interested in being on the loan with me. Would you please explain the options?” – Eve in Denver Answer: Several options as to how title to a home can be held exist, each has its advantages. It’s important to know your options before signing the final papers. SOLE OWNERSHIP. For a single person buying a home, this is the most often used title-holding option. Even married couples can choose this Sole Ownership if one of the spouses signs a quick claim deed terminating marital rights to the […]

by jberman
Posted on in General

Weekly Twitter Digest for 2010-06-22

HUD Releases Mortgagee Letter Detailing Net Worth Requirements and Approval Process http://ow.ly/17KM5w # Homebuyer Tax Credit Deadline NOT Extended. But Senate Vote Adds Reid Amendment http://ow.ly/17LHDX # 2009 Mortgage Fraud Report Released. DOJ Announces 485 Arrests http://ow.ly/17MCcE # Regulators Tie CRA to HUD Development Program – Citing the need to stabilize communities affected by high levels of … http://ow.ly/17NuvT # Verifying Borrowers’ Finances http://ow.ly/17O9eR # Administration Offers Monthly Recap of Housing Metrics – Excerpts From the Release… The U.S. Department of Housing… http://ow.ly/17PC3s #

by jberman
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