Sabine Larsen's (sabinesblog) Blog

The Home Valuation Code of Conduct, or HVCC, became law May 1. In the details of the law, Fannie Mae and Freddie Mac, won't provide funds for mortgage loans unless the appraisal follows a few new guidelines.The new law prohibits mortgage brokers from ordering appraisals directly from, a licensed ...

From Linda Ferrari: For years, credit experts, including me, have told people that a foreclosure is the worst possible option for homeowners who are upside down in their mortgage and is something to avoid at all costs. One of the alternatives to foreclosure that homeowners have is a short sale, w...

The Mortgage Crisis and Your Credit: Loan Modification by Linda Ferrari June 28, 2009 Foreclosure, Deed in Lieu of Foreclosure, Short Sale, Loan Modification and Bankruptcy can all have long-lasting impact on an individual's ability to obtain credit. Homeowners need to get the facts before making...

Understanding the 2009 First Time Home Buyer Tax Credit by Linda Ferrari on July 8, 2009 Ever since the housing bubble burst and the current recession began in late 2007, the federal government has been seeking ways to reinvigorate the slumping housing market. Beginning in 2008, first time homebu...

Fannie Mae and Freddie Mac recently issued loan underwriting criteria and will start buying loans of up to $729,750 from lenders on May 4, which some industry analysts believe will result in lower rates.   This week, Wells Fargo started offering conforming loans of up to $729,750, and Bank of Ame...

Big Improvement to First-Time Buyer Tax Credit Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.Previously, m...

Tax Credit for Home BuyersFirst-time home buyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction - a tax credit is equiv...

Government loan programs FHA loans   An FHA loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The FHA does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) ...

In Tough Times, YOU NEED TO KNOW YOUR OPTIONS WITH YOUR PROPERTY....    Kinds of loss mitigation (Loan Modification):    Loan Modification: This is a process whereby a homeowner's mortgage is modified and both lender and homeowner are bound by the new term.  The most common modifications are lowe...

As December approaches, the saying "home for the holidays" may hold more meaning to those facing foreclosure right now, and that spirit, Fannie Mae and Freddie Mac have announced a suspension on foreclosures and evictions through January of 2009.The two mortgage giants have issued a notice to its...