Real Estate News You Can Use
July 2008
Risé Johns ASR®, CRS®, GRI
Mortgage Industry News
Rather than discuss the local real estate market, this month I decided to discuss the turmoil that continues to affect the mortgage industry. This turmoil has a far-reaching impact on the real estate market and could effect some of your plans.
Because 100% conventional financing has evaporated, lenders are making a lot more FHA loans. FHA loans have always been one of my favorites. In the past, I have done many, many FHA loans and they are easy-to-do loans.
Maximum loan amounts in central
There are lots of changes with “Piggy Back” loans—those 2nd liens we have all been using to avoid paying for mortgage insurance. These loans are not as easy to get and the rates are higher.
The good news is the