October 24, 2009 by Lynnell Woodward
I just got this email from a lender that is well know in our community. Finally some good news on the horizon, read on and see what you think!
MortgageNewsDaily (10-23-09): ” …It turns out that the HVCC (the Home Valuation Code of Conduct) implemented on the mortgage industry in 2009, which has good intentions but arguably poor implementation and ramifications, could be on its way out. The House Financial Services Committee has just passed an amendment to the Consumer Financial Protection Agency Act to phase it out, and allow all loan originators, licensed or registered in accordance with the SAFE Mortgage Licensing Act, to order appraisals directly. H.R. 3126 is the number of this bill. Although this is just a committee vote, and still has a long way to go, it is a “first step” the Consumer Financial Protection Agency Act is expected to be merged with a number of other regulatory reform bills before moving to the House floor for a vote, and any differences must be ironed out within the House and then with any Senate versions before going to the President.”
www.lynnellsells.com
Category community, real estate | Tags: appraisals,housing,HVCC | No Comments
October 21, 2009 by Lynnell Woodward
I am sure a lot of you have had these thoughts cross your mind this past year. Depending on your situation if you currently rent and have a stable job with money in the bank now is a fabulous time to buy especially since you still have time to close escrow before the $8000 tax credit expires.
If you already own a home and have been thinking about possibly buying an income property again now is a great time to explore that option. Interest rates are still so low it can make that decision a profitable one.
If you are one of many people out there that are having some financial difficulties and are in the position to sell your home consider doing it now while the rents are still reasonable. The media and other indicators are showing that rents will be up next year due to the high demand of rental properties.
Remember for those of you thinking of buying your first home the TAX CREDIT expires at the end of November. If you have any questions feel free to call me anytime 818 482-6690 or visit my website
www.lynnellsells.com
Category community, real estate | Tags: $8000,buy,home ownership,property,rental,sell,tax credit | No Comments
