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Articles tagged with: Justin Moore

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[12 Dec 2010 | 3 Comments | 2,060 views]
Whose money is it, anyway?

As most people who have been following real estate news know by now, a proposal to scale back the mortgage interest deduction failed.
Let’s review. President Barack Obama formed the National Commission on Fiscal Responsibility and Reform earlier this year for the purpose of putting together a proposal to cut the deficit. On Dec. 1, the bi-partisan task force released a 66-page report – called The Moment of Truth – that was designed to save $4 trillion over 10 years by rolling back deductions, raising some taxes and otherwise calling on …

Business, News, Real Estate »

[16 Nov 2010 | One Comment | 2,209 views]
Economic outlook for 2011? Coming right up!

The national Mortgage Bankers Association’s economic outlook for 2011 isn’t exactly rosy, but the group does expect to see an increase in homes sales next year.
The association expects to see mortgage originations fall from an estimated $1.4 trillion this year to slightly under $1 trillion next year. The drop will be driven by a decline in the number of people wanting to refinance mortgages, the association said in a news release.
Specifically, the association expects to see mortgages for home purchases increase slightly next year and then enter into a recovery …

Business, News, Real Estate »

[23 Oct 2010 | 2 Comments | 1,831 views]
Foreclosure can be costly

Earlier this month, the attorneys general throughout the nation announced they are investigating foreclosure practices.
Why? There have been questions raised about the adequacy of paperwork filed in foreclosures and whether lenders have done what is required of them – giving people some time to make good on their payments after their loans go into default. Also, the attorneys general are taking a look at the process through which a mortgage is transferred from a lender to a secondary servicer that buys loans and collects on them.
Deputy Arkansas Attorney General Jim …

Business, News »

[3 Oct 2010 | One Comment | 1,595 views]
Honest-to-goodness free credit reports

A person with bad credit could face higher interest rates on loans, larger down payments on mortgages and the chance of not being able to borrow money for cars, homes and other items.
Fortunately, consumers can look at their credit reports for free and can dispute any inaccuracies they find on them. While there are plenty of flashy television commercials and Internet ads from companies offering everything from credit repair and monitoring to no-cost or low-cost copies of your reports, few of them mention that the federal government has put up …

Business, News, Real Estate »

[9 Sep 2010 | 2 Comments | 3,615 views]
Rural Development funds released

For the past four months, home buyers, mortgage bankers and Realtors in Arkansas have waited for the restoration of guaranteed loans through the United States Department of Agriculture’s Rural Development program.
Justin Moore, president of the Mortgage Bankers Association of Arkansas, said the money guaranteeing those loans was released on Wednesday. The Rural Development program, he said, has been a boon to Arkansas homebuyers as it’s one of the very few mortgage products left that requires borrowers to pay no money down when taking out a loan.
“It opens up new financing …

Features and such »

[29 Aug 2010 | No Comment | 1,143 views]
How to prevent delays when applying for a mortgage

When you go to take out a mortgage, the last thing you want to deal with is a bunch of delays.
Actually, the last thing you want to deal with is having your mortgage application turned down, but that goes without saying. The truth of the matter is mortgage bankers still have plenty of money to lend, but there are certain regulatory hurdles – both put in place by the industry and the federal government – that must be cleared before a loan is approved.
It’s in the borrower’s best interest, then, …

Features and such »

[14 Aug 2010 | 3 Comments | 1,438 views]
Refinancing mania!

By now, just about everyone following the housing market has heard that sales have declined over the past couple of months.
That’s no surprise as people wanting to take advantage for first time and repeat home buyer tax credits had until the end of April to get houses under contract. Lawrence Yun, the chief economist for the National Association of Realtors, confirmed that pending sales fell dramatically as soon as May started and predicted that markets will struggle for a bit.
In other words, when the government quit paying people to purchase …