In a 409-5 vote, House lawmakers have passed a standalone bill that would extend for three months Wednesday’s deadline for closing on a home purchase in order to claim the federal homebuyer tax credit. The Senate could vote on the bill, HR 5623, as soon as tomorrow, although the death of Sen. Robert Byrd, D-W.Va., [...]

There is a buzz in the real estate and mortgage world that says that FHA is moving towards changing how they charge insurance premiums – again!  And the proposal I am hearing is going to reduce the number of  people who are eligible for the FHA Program, as well as make the program less attractive. [...]

As of May 27, 2010, Fannie Mae will not back or purchase loans made on foreclosed homes still inside the state foreclosure redemption period.  That’s the time period in which a homeowner can come back and reclaim their home by paying all past due amounts and costs of foreclosure, as well as for improvements.  It’s [...]