Is it the Right Time to Refinance?
July 27, 2010
Possibly you’ve been thinking about taking some cash out to make improvements around your house. Or you may just be wondering how much you could lower your payment with a lower rate mortgage. You also may want to pay your loan off sooner by refinancing from a 30 year loan to a 15 year.
There are a lot of possibilities to explore. Find out if it’s the right thing for you to do or the right time to do it. You never know if you don’t ask. We’re here for you. Call Mike today! 520.954.7686
Information from the HUD July Update
July 21, 2010
The most recent release from the HUD Commissioner outlines the Office of Housing’s latest efforts to strengthen protection for consumers in the buying process. They are working to make the housing market stronger, sustainable and safer by implementing regulations to make mortgages more transparent and understandable which better protect consumers. Fair dealings require open, clear information. The SAFE Act In combination with RESPA reform, help increase the integrity of the mortgage process and prevent fraud so consumers have greater protection in the marketplace. The office of Housing and Urban Development is committed to regulatory reform and consumer protection. One of the things HUD has done to achieve this is the implementation of a standardized Good Faith Estimate (GFE) and a revised and expanded settlement statement (HUD-1).
The Morgan team is also committed to fair and honest service. If you have any questions regarding this information or specific information for your mortgage needs please contact Mike Morgan at 520.954.7686. We look forward to earning your business.
Update on USDA Rural Development Loan Program
July 16, 2010
While we wait for HR 4899 to pass and be signed into law, the president’s budget is going through mark up. Last year the USDA 502 Guaranteed program was allocated 12 billion dollars, the Senate Appropriations Committee is recommending 24 billion dollars for the 2011 fiscal year.
The bill includes $2.768 billion in discretionary budget authority for rural development programs, which is a decrease of $168 million from the fiscal year 2010 and an increase of $85 million above the President’s request.
Increases are provided for guaranteed single family housing loans. A fee increase is authorized which will allow the Agency to provide $24 billion in new loans at no cost to the government.
In the face of the recession Rural Development’s loan programs have been the principle source of home financing in rural areas.
If you would like more information regarding USDA 100% financing Rural Devolopment loans please contact Mike Morgan at Peoples Mortgage. 520.954.7686.
Housing in Tucson, Arizona June 2010
July 12, 2010
With the surge in home sales this spring due to the home buyer tax credit, we are now seeing, as expected, a slight decline in the number of homes being sold. According to the National Association of REALTORS® Chief Economist, Lawrence Yun, we will likely see a decline in home sales in July and August as well. Yun also noted 4.4 million Americans took advantage of the now expired home buyer tax credit. Two-thirds of those were first time homebuyers who received up to $8,000 towards the purchase of their home. One third were repeat buyers and were eligible to receive a $6,500 credit. One million out of the 4 million bought a home due to the credit.
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Tucson Housing Report May 2010
July 9, 2010
Mortgage Update
July 9, 2010
Mortgage interest rates continue to stay low so it is a great time to either buy or refinance. Call us today for a free, no obligation, quick & easy preqaulification. This is a very important step when preparing to buy a home. In most cases we can get you prequalified in about a half an hour over the phone. Don’t put it off, call Mike today. 520.954.7686. We look forward to working with you.
Family Fun in Tucson, Oro Valley, Marana, Vail
July 9, 2010
I have three boys ages: 20 months (twins) and 3 1/2 years. This website is the greatest resource for things to do with your kids around Tucson. http://kids520.com/
If you are new to Tucson this site will be so helpful to you! There is so much to do in Tucson you just need to look for it. Enjoy!
My experience with listing a short sale
July 6, 2010
This does not have to be a nightmare for the seller! I price and market the home which is my area of expertise as a Realtor®. When I generate an offer on the home I give the contract to a short sale expert that handles the negotiations with the bank. In advance of taking the listing, the seller is working with the short sale expert to complete the financial package the bank requires to do a short sale. I successfully had a short sale closed in 45 days using the short sale expert to handle the negotiations with the bank. It was actually a pleasant transaction! Everyone including the buyer, the seller and agent representing the buyer were thrilled with how smooth things went. If you hire the right people for the job a short sale can be handled efficiently.
1720 E WAVERLY ST
July 6, 2010
| 1720 E WAVERLY ST (Status: Active) | MLS#: 21025350 | ||
| Jefferson Park gem a half mile to U of A & only two blocks to the College of Medicine/UMC. Gorgeous Master bedroom/bath and laundry room permitted addition. New in 2007: heating/cooling/roof/flooring/bathrooms& kitchen. Refinished original hardwood flooring in living room/two bedrooms and hallway. Great curb appeal, updated floorplan plus all the modern conveniences. Covered parking & a large yard too! | |||
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2126 E JUANITA ST
July 2, 2010
MLS#: 21012291
This is the sweetest home in Catalina Vista. Charming Contemporary Bungalow style home with a huge yard, fenced pool & BBQ area. Original hard wood flooring throughout except in kitchen & bath. Eat-in kitchen has a dishwasher, gas stove, refrigerator, garbage disposal & countertop microwave. Bath has been remodeled with a pedestal sink & Travertine tub/shower surrounds. Updated fixtures throughout. Newer heating/cooling units. Don’t miss this one!
Contact: Mary Tosca
Phone: 520-906-7400
Email: Mary@MarySellsTucson.com
