Just sent a new post to The Home Ownership Center USA. Here’s the link-
Top 7 Reasons to Buy a Home in 2012
Just posted an article – Top 7 Reasons to Buy a Home in 2012 – on my blog at www.thehomeownershipcenterusa.org. Please take a look.
Winter Home Sales Improved – No Slow Down Here
By Doug Huggins
When one has been in and around the home selling/mortgage business as long as I have, one comes to expect that home sales are “always” slower in the months of December and January. With the holidays and New Year getting started, it’s just the way it has always been.
According to numbers just released by RE/MAX, home sales this December (2011) were 5.7% higher from the previous month and were up 1.1% from the same time period a year ago.
RE/MAX officials stated that this was due to a lower volume of foreclosures hitting the market; the number of homes available for sale fell for the 18th consecutive month and is now 25.7% lower than last year.
Continue reading
BEST Business Radio Show – Kicking Off 2012 – Guest Jeffrey Hayzlett
Listen in now at http://tobtr.com/s/2681127. #BlogTalkRadio #doug huggins #best business radio
Listen to My New Episode of BEST Business Radio
Listen to my new episode Jeffrey Hayzlett Author of new book – Running the Gauntlet at http://tobtr.com/s/2681127. #BlogTalkRadio
BEST Business Radio Show – Kicking Off 2012 – Guest Jeffrey Hayzlett
Doug Huggins here…host of BEST Business Radio.
First and foremost -HAPPY NEW YEAR to You!!
We’re kicking off the New Year right here at BEST Business Radio with a very special guest – former Fortune 100 Excecutive, best selling author, speaker Jeffrey Hayzlett – author of the great new book – Running the Gauntlet.
Listen in TODAY at 1:00 PM Eastern - at http://bestbusinessradio.com
Mortgage Borrowers Have Three Months to Save Before Fee Hike Hit
By Doug Huggins
As I’ve reported just this week, Congress has forced Freddie Mac, Fannie Mae and HUD to increase their fees on mortgage loans to pay for the temporary (2-month) payroll tax increase. As you read here… The payroll tax cut extension bill passed by Congress on Dec. 23 requires that GSEs charge an average g-fee in 2012 of at least 10 bps higher than in 2011. The bill also directs the GSE regulator to adjust the g-fees so all lenders pay the same fee.
“In early 2012, FHFA will further analyze whether additional guarantee fee increases are appropriate to ensure the new requirements are being met,” DeMarco said Thursday morning.
The lawmakers relied on a 10-year increase in Fannie and Freddie g-fees to cover most of the costs of the legislation that extended the payroll tax reduction along with unemployment benefits for two months.
As a result, he Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to implement a congressionally mandated increase in their loan guarantee fees on April 1, 2012. Continue reading
Good Mortgage News – FHA Anti-Flipping Rule Suspended for Another Year
Original Article by Brian Collins with Commenary by Doug Huggins
The Federal Housing Administration has suspended its anti-flipping rules for another year to facilitate
“This extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight,” said acting FHA commissioner Carol Galante.
The Department of Housing and Urban Development issued the anti-flipping rule in 2003 to protect FHA borrowers from investors who were quickly flipping properties at inflated prices. The anti-flipping rule prohibits lenders from using FHA financing in transactions where a single-family property is being resold within 90 days. Continue reading
Borrowers Beware – Loan Fees Set to Rise in Early 2012
Late this December our Congress passed a short-term extension of the payroll tax cut. While many folks cheered this extension (even if it was only for two-months), they way Congress decided to finance the tax cut was with a 10 basis point hike in Fannie Mae and Freddie Mac guarantee fees. In other words, Congress just increased the fees the government charges those agencies for doing loans. Those fees will be charged by those agencies to mortgage companies on a per-loan basis. Those increased fees are expected to pass the cost onto homebuyers and mortgagors seeking to refinance.
The payroll tax bill (H.R. 3630) signed by President Obama is expected to generate $35 billion over 10 years. The money collected will go to the U.S. Treasury Department and will not repay the government for bailing out Fannie Mae or Freddie Mac.
Mortgage industry officials are dismayed by Congress’ decision Continue reading
Politically Correct Holiday Wishes
A great friend of mine just sent this over to me – it is hilarious…
To All My Politically Correct & Progressive Friends: Please accept with no obligation, implied or explicit, my best wishes for an environmentally conscious, socially responsible, low stress, non-addictive, gender neutral celebration of the summer/winter solstice holiday practiced within the most enjoyable traditions of the religious persuasion of your choice, or secular practice of your choice, with respect for the religious/secular persuasion and/or traditions of others, or their choice not to practice religious or secular traditions at all. I also wish you a fiscally successful, personally fulfilling and medically uncomplicated recognition of the onset of the generally accepted calendar year 2012, but not without due respect for the calendars of choice of other cultures whose contributions to society have helped make the United States a great nation. Not to imply that the US is greater than ony other country in the world. Also, this wish is made without regard to the race, creed, color, age, physical ability, religious faith or sexual preference of the wishes. TO EVERYONE ELSE: MERRY CHRISTMAS AND A HAPPY NEW YEAR



