October 22nd, 2008
Just a minder that things will be changing for FHA approved buyers.
Effective now:Upfront FHA premium is now 1.75% vs. 1.25%
December 1, 2009, Loan amounts in-between $417,000 and $729.500 will need to close prior to 12/1/08 to be considered Conforming.
January 1, 2009, Down payment of 3% will increase to 3.5%
Posted on October 22nd, 2008 in Buyers, Contracts, General | Comments Off
October 1st, 2008
Plans to buy $700B in troubled assets wins an initial OK. Backers are hoping add-ons will yield more yes-votes in the House.
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By Jeanne Sahadi, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) — The Senate on Wednesday night passed a sweeping and controversial financial bailout similar in key ways to one rejected by the House just two days earlier.
The measure was passed by a vote of 74 to 25 after more than three hours of floor debate in the Senate. Presidential candidates Sens. Barack Obama, D-Illinois, and John McCain, R-Arizona, voted in favor.
Like the bill the House rejected, the core of the Senate bill is the Bush administration’s plan to buy up to $700 billion of troubled assets from financial…. More
Posted on October 1st, 2008 in Buyers, Condo Conversions, Contracts, Downtown Living, Downtown San Jose Condos, General, Quick MLS Links | Comments Off
