Richard Woodward's (richardlends) Blog

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Mortgage and Lending - Envoy Mortgage
RECENT BLOG POSTS
USDA Program Makes "Rural" Homes More Accessible One of the biggest difficulties many first-time home buyers face is a lack of down payment and the necessary funds for closing costs. However, even with the widespread availability of "no-money-down programs" evaporating in the credit crisis, one ...
02/17/2010
The Clock is Ticking! Time is Running Out for Significant Savings!Attention home buyers! Waiting to buy a home could cost you nearly $20,000 or more over a seven-year period if you time your purchase incorrectly. While the actual impact will vary depending on purchase price, the impact will cert...
02/05/2010
Those Who Wait Will Pay Thousands More This Spring   Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority...
01/29/2010
Now more than ever a good working relationship is essential. An Open Letter to Texas Realtors Recent guidelines from Washington have forced a change to the way that loan originators will disclose closing costs for all homebuyers. The purpose of the new Good Faith Estimate is to level the playing ...
01/28/2010
Today FHA announced that it would make sweeping changes to the current FHA mortgage program in an attempt to shore up it's beleaguered balance sheet.  As many existing FHA borrowers default on their home loans the move is necessary to ensure the program stays solvent. The biggest impact will be t...
01/20/2010
Dallas Texas mortgage rates still holding in the high 4's and low 5's but good news about the end of the recession from the Federal Reserves office means bad news for mortgage bonds.  Rate could start a slow steady rise.  Visit www.EnvoyMortgage.us for a quick rate quote.           Wednesday's bo...
01/13/2010
          Monday's bond market has opened in positive territory following a calm open in stocks. The major stock indexes are showing minor losses with the Dow down 5 points and the Nasdaq down 10 points. The bond market is currently up 6/32, which will likely improve this morning's mortgage rate...
01/11/2010
The Times They Are a ChangingWhat's Ahead for Home Loans in 2010 for Dallas Texas   This year could bring significant changes from 2009 for those seeking home loans. Over the last year, home prices fell to 2003 and earlier levels in many parts of the country. In addition, home loan rates declined...
01/08/2010
Effective January 1, 2010 HUD implemented the new Good Faith Estimate (GFE) for both Refinance & Purchase transactions of FHA & Conventional loans. HUD has been working on this revision for over 4 years and finally pushed it through last year.  The goal was greater clarity and transparency for bo...
01/06/2010
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