Rhonda Porter on 11 20, 2009 | No Comments
Underwriting guidelines continue to get tougher. This week FHA tightened her belts on streamline refinances and over the weekend of December 12, 2009, Fannie Mae's DU 8.0 will be implemented. DU 8.0 will require:
minimum credit score of 620 for Fannie Mae, FHA, USDA and VA loans. (except for DU Refi Plus)
maximum debt to income ratios of 45% (some wiggle room for stro…
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ARDELL on 11 19, 2009 | 1 Comment
The Seattle Times reports that Seattle is returning to a neighborhood-based system. Given it has been about 30 years since Seattle abandoned that system, this is big news for everyone who lives in Seattle, particularly people who are buying homes in Seattle.
According to the article, this decision passed by unanimous vote last night at 11 p.m.
If we're going to use our limited resources efficiently, this is a big opportunity to reduce transportation costs, balance out enrollment so that hopefully the vast majority of our schools have enough students in them to be successful," said bo…
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Tim on 11 14, 2009 | 55 Comments
Working largely in an industry within real estate that provides a service behind the scenes presents problems in conveying value to the people who recommend our services: Realtors and Loan Officers.…
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Craig on 11 13, 2009 | 6 Comments
This is not legal advice. For legal advice, consult an attorney in person, not a blog.
In most instances, a buyer will take title to the property by a statutory warranty deed. As the name implies, this deed is defined by statute. That said, this statute merely codified the common law, which evolved over several hundred years (beginning in medieval England).
In any event, a statutory warranty deed includes several warranties, or promises, from the seller:
(1) That at the time of the making and delivery of such deed he was lawfully seized of an indefeasible estate in fee simple, in and to…
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Rhonda Porter on 11 13, 2009 | 2 Comments
Jumbo's loans are beginning to make a welcomed reappearance in the mortgage arena. "Jumbos" are non-conforming mortgages and for King, Snohomish and Pierce Counties that means mortgages with a …
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