Latest News in Refinancing Home Mortgages – Oct 01, 2009

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Will October Be the Time to Buy a Home?
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It is increasingly looking as though October may be the time to buy a home. After all, many people will be rushing to take advantage of the tax credit being offered to first time home buyers. But even if you don’t qualify for a first time home buyer credit, October may be a [...]

FDIC Wants Banks to Prepay Fees
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Recently, the news has got out that the FDIC’s bank fund is in the process of being depleted. As a result, the FDIC is meeting today to try and hash out issues related to replenishing its fund. Here is what MarketWatch reports about the situation:
The FDIC meets Tuesday to tackle the thorny [...]

Fannie Mae Tightens Credit Requirements for Home Mortgage Loans
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During the credit crunch, Freddie Mac and Fannie Mae, the two government sponsored entities responsible for making home mortgage loans more affordable, have been providing loans. Fannie Mae has been doing this by allowing people with credit scores of around 580 to qualify for home mortgage loans. However, Fannie Mae [...]

New Home Sales Rise in August
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Sales of existing homes dipped in August, but new home sales increased. However, they didn’t increase as much as analysts had hoped, reports CNN Money:
New home sales rose 0.7% last month to a seasonally-adjusted annual rate of 429,000, the Commerce Department reported. That was up from a downwardly-revised reading of [...]

August Existing Home Sales Dip
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After months of improvement, existing home sales have taken a bit of a break. August saw an unexpected dip in existing home sales, showing that the housing market is taking a bit of a breather. However, even with the dip, existing home sales are still up over the same time last year. CNN [...]

Things to Be Aware of When Refinancing Your Home
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With mortgage interest rates nice and low, it is no surprise that many home owners are considering refinancing. However, as always, there are some things that smart consumers need to be aware of before they sign any papers. Here are 3 things to consider when financing your home:

Don’t avoid applying to [...]

Avoiding Capital Gains Tax When You Sell Your Home
When you have an asset that appreciates in value, you normally have to pay capital gains tax on the increase that you earn. However, when this comes in the form of a home, it is worth noting that you often receive an exemption from paying the capital gains tax. (With home prices on the rise [...]

Don?t Forget About Making Home Affordable
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With all the hoopla surrounding mortgage market news about brokers and possible tax credits, the idea of refinancing has been kind of shunted to the side. However, it is important to note that Making Home Affordable is still out there, and is available for the rest of us. Here is what [...]

Is It Really a Good Idea to Tap Your Roth IRA for a Home Down Payment?
One of the things that the mortgage lender looked at when I was applying for my home loan was whether or not I had money in my retirement account. We have a Roth IRA, and that was money that the mortgage lender considered as “available” for a down payment. We didn’t use it, but there [...]

Mortgage Market News Roundup
There has been a ton of news related to the mortgage market today. It’s a veritable explosion of mortgage news. Here are some of the highlights from recent mortgage and real estate related news:

Congress considers extending the home buyer tax credit: Right now, lawmakers are thinking about extending the first time home buyer tax credit [...]

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