"Living in the Real World" ~ Lola's Log

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**BREAKING News**Breaking News** BUYER ON THE FENCE? May Be Time to Jump Off!!

NEWS:   BIG news on the FHA front. If you have possible FHA buyers shopping around, (or if you are one!) they need to get into contract ASAP – Come Sept 7th there are some MAJOR changes happening. The govt’s way of ‘helping’ is actually ‘hurting’ …are you surprised?

Example:

                                         FHA TODAY:                                             FHA ON 9/7/10:

Base Loan                        $150,000.00                                               $150,000.00

+ FHA financed prem              $3,375.00   2.25%                                     $1,500.00   1.00%

Total Loan Amount             $153,375.00                                              $151,500.00

P&I Payment                          $ 777.13                                                     $767.63

**+FHA monthly factor              $ 70.29  *0.55%                                        $123.72    *0.98%

Monthly Pmt                            $ 847.42                                                    $891.35

Monthly Difference $ 43.93

Qualification Difference $8,670.00

Look what that does to the buyers qualification!

So if they were qualified for $150k now it’s only $141k

BUYERS NEED TO MOVE NOW!!!!

 Have a Great Day and Be Happy! Remember, just about everyone you meet is going thru some kind of trial in their life – Be extra nice to Everyone!

This information supplied by: 

DeLynn Gaston  

**mortgage interest rates are Amazingly in the 4's**

Open Mortgage dba

Blue Marlin

727-939-8453 office

727-412-1617 cell

Contact Me

 FILL OUT THE:

EASY ONLINE FORM

Thanks for your interest, and best wishes in your home search.

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Regards,
Loretta J. Buckner
Your "Real" Estate Consultant for Life
www.RealWorldPropertiesInc.com
727-656-6206

Comment balloon 2 commentsLoretta Buckner • August 19 2010 12:21PM
**BREAKING News**Breaking News** BUYER ON THE FENCE? May Be Time to…
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NEWS: BIG news on the FHA front. If you have possible FHA buyers shopping around, (or if you are one! ) they need to get into contract ASAP – Come Sept 7th there are some MAJOR changes happening. The govt’s way of ‘helping’ is actually ‘hurting’.. more
Florida to Receive Second-Highest Allocation of Funds in Obama's…
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In a release on August 11, HUD announced an additional $3 Billion in funding for targeted homeowner assistance. The "Hardest Hit Fund " was announced in February of this year, in an effort to stave off further market erosion and in hopes… more