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Homeowner Education

Unemployment Rate 9.0% & Seattle Real Estate Mortgage Rates Today Drop? 11/4/11

November 4, 2011 Homeowner Education
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US unemployment rate improves to the 9.0%, not a huge improvement but slowly improving. As jobs struggle, the US economy will continue to slump. Mortgage rates managed to hold strong in these volatile times but read the post for more info!

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Home Affordable Refinance Program IMPROVEMENTS 10/24/2011 to help Seattle Real Estate

October 24, 2011 Current Home Owners
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Home Affordable Refinance Program IMPROVEMENTS 10/24/2011 to help Seattle Real EstateFEDERAL HOUSING FINANCE AGENCY: Breaking news that will hopefully help many home owners who were unable to refinance underwater values.  With these new changes a homeowner would no longer have a loan to value restriction on their ability to refinance.  Lenders currently will not allow [...]

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Seattle Real Estate Mortgage Rates Today 5/25/11 + “Tip of the Day”

May 25, 2011 Homeowner Education
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Seattle Real Estate Mortgage Rates Today 5/25/11 + “Tip of the Day”: The 5 Year note auction today received an “A” Rating which helped the mortgage market stabilize from some early market losses. Today rates are flat comparing to yesterday. Tomorrow will bring another round of auctions plus some economic data that may stir up [...]

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Obama Administration’s “Home Affordable Refinance Program” EXTENDED!

April 14, 2011 Current Home Owners
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Guidelines for both Fannie Mae and Freddie Mac are released for the Home Affordable Refinance Program.

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Seattle Real Estate Market gets national air-time by Diana Olick, CNBC Special

March 26, 2011 Current Home Owners
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Diana Olick, Home Realty Check on CNBC, travels to Seattle to do a live report on what unique opportunities we have to offer.
“Seattle DOES NOT Rank in the top 100 cities for foreclosure” The current Median Home Price has declined from $365,000 to $285,000
$285,000 $365,000 Median Home Price, Unemployment at 8.8% under the National Average [...]

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Seattle Conforming Loan Limits Increased For 2011 (Ends 9/2011)

March 21, 2011 Homeowner Education
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2009 – 2011 Conforming loan limits increased by American Recovery and Reinvestment Act. This law was signed in February 23, 2009.

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FHA Increases the Annual MIP on April 18, 2011

March 4, 2011 Future Home Owners
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To follow the established rules for the required reserve requirement of the Mutual Insurance Fund, FHA will increase the annual mortgage insurance premium (MIP).
The increase of .25% (25bp) was announced.  To avoid this increase you must have your case number assigned on or before April 14, 2011.
FHA recently increased the annual MIP to .85% – [...]

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Seattle Real Estate, Freemont Towwnhome For Sale

October 29, 2010 Homeowner Education
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Seattle Real Estate Townhome Listed By Jeanine Burke with Windermere Madison Park

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FHA Mortgage Insurance Premium Changes October 4, 2010

September 27, 2010 Homeowner Education
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Government FHA changes impacting Seattle real estate buyers and owners. Changes starting 10/4/2010! UFMIP is reduced to 1% but the MIP has been increased to .85% – .95%. This MIP increase will reduce the purchase power for buyers.

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FHA Short Refinance Option Now Available

September 8, 2010 Homeowner Education
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Seattle Real Estate owners who are underwater now have an opportunity to refinance with FHA’s short refinance program. The downfall of the program is that it’s voluntary and requires the consent of all lien holders. One requirement is that the first lien holder must agree to write off at least 10% of the unpaid principle balance.

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