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USDA Loan Program is Running Out of Money

12 March 2010

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     USDA is running out of money and as of yet, we haven’t heard of any new funding coming down the pipeline. In fact, we are hearing from Rural Housing in DC that there may be no re-issurance fo these type of funds.     USDA loans are property specific meaning that even if you are looking [...]

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Housing Stats, PPI, FHA

20 January 2010

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      We’ve opened up the day trending upward but as always that can change. Housing Starts for December were down 4.0% partly due to the cold weather we all experience in December. It certainly was too cold for me. But if you look at the Building Permits which forecasts the future of building, those were [...]

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Fannie Mae Lowers Debt to Income Ratios

13 November 2009

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     As I posted on October 8, 2009, Fannie Mae announced that it would be lowering their required debt to income to 45%. As of this post, lenders are starting to email us to state that on November 16, 2009, they will no longer accept loan packages with a higher ratio on debt to income.      Though this is only a [...]

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