As you know, a lot of Realtors these days are utilizing social networking to get the message out about a home that they are trying to sell on behalf of their client.

Effective October 4th, 2010, FHA will lower the upfront mortgage insurance premium (MIP) and raise the annual mortgage premium. Upfront MIP will decrease from 2.25% of the loan amount to 1 percent.

There is no question that the luxury housing market has been hit hard by the recession. People in this price range lost plenty of money in the market, investments, and may have lost their jobs and or their retirement plans.

More and more real estate transactions are falling apart these days over inspection items. Just 5 years ago very few deals fell apart over inspections items.

The most dreaded part of applying for a mortgage is all the paperwork. Mortgage documentation requirements are more stringent than ever and every “T” must be crossed and every “I” dotted.

I have often talked about the battle between buyers and sellers in today’s real estate market and I don’t want to badger the point any further, but I think that the problem has now spread to the realtors.

Two things stop more people buying from purchasing a home more than anything else…down payment and credit score.

Elizabeth Duke, a governor on the Federal Reserve board, reported last month that credit for both consumers and businesses continues to tighten. Banks tighten credit by raising credit score requirements, reducing credit limits, and/or increasing requirements for “skin in the game”.

No doubt about it, it’s been a good summer. It can’t even come close to comparing to last summer when I wondered if we would ever sell a home again.

A cash-in refinance is when the new mortgage is smaller than the existing mortgage and the homeowner brings cash to the closing table. In contrast, a cash out refinance is where the old mortgage is less than the amount of the new mortgage and the borrower receives cash back.