Monday, December 28, 2009
Homeowners Assistance Program (HAP)
The Department of Defense is proud to offer the Homeowners Assistance Program to eligible service members and federal civilian. Check out their website http://hap.usace.army.mil/
Tuesday, December 22, 2009
Monday, December 21, 2009
Thursday, December 17, 2009
Tuesday, December 15, 2009
Thursday, December 10, 2009
Market Statistics for November
Number of Homes Sold
Bonneville 103
Jefferson 19
Madison 18
Average Days on the Market
Bonneville 122
Jefferson 91
Madison 136
Average Price of Homes Sold
Bonneville $167,231
Jefferson $150,867
Madison $162,967
Bonneville 103
Jefferson 19
Madison 18
Average Days on the Market
Bonneville 122
Jefferson 91
Madison 136
Average Price of Homes Sold
Bonneville $167,231
Jefferson $150,867
Madison $162,967
Monday, December 7, 2009
Friday, December 4, 2009
FHA to toughen rules for borrowers
The Federal Housing Administration is proposing to increase the up-front cash paid by borrowers as part of an effort to shore up the agency's finances, which have been staggered by rising defaults in its flagship mortgage insurance program, according to FHA officials.
The changes also include raising minimum credit scores for borrowers who receive FHA-backed mortgages and limiting the amount of money sellers can kick in, including paying closing costs or giving free upgrades.
These measures are designed to increase the amount borrowers invest in the homes they buy, thereby making it less attractive for them to default on loans and walk away from properties, as many people have done during the current housing crisis.
The FHA has played a critical role in propping up the housing market by insuring lenders against default after the mortgage market unraveled. Currently, the agency backs about 30 percent of all loans for home purchases and 20 percent of refinancings. In the past, the FHA has resisted raising down
payments or insurance premiums for fear of shutting out qualified borrowers and stunting the housing market's slow but steady recovery.
The changes also include raising minimum credit scores for borrowers who receive FHA-backed mortgages and limiting the amount of money sellers can kick in, including paying closing costs or giving free upgrades.
These measures are designed to increase the amount borrowers invest in the homes they buy, thereby making it less attractive for them to default on loans and walk away from properties, as many people have done during the current housing crisis.
The FHA has played a critical role in propping up the housing market by insuring lenders against default after the mortgage market unraveled. Currently, the agency backs about 30 percent of all loans for home purchases and 20 percent of refinancings. In the past, the FHA has resisted raising down
payments or insurance premiums for fear of shutting out qualified borrowers and stunting the housing market's slow but steady recovery.
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