Archive for the ‘The Economy’ Category
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UPDATE: FHA Waives 90-Day Seasoning Rule
On January 10, 2010, I posted, FHA Should Rescind the 90-Day Seasoning Rule. Perhaps those in charge at FHA were reading my blog, because on January 15, 2010 (just 5 days after posting my original article), FHA issued a statement, Waiver of Requirements of 24 CFR 203.37a(b)(2).
In short, FHA has apparently come to realize they [...] -
FHA Should Rescind the 90-Day Seasoning Rule
To bring everyone up to speed, the Federal Housing Administration (FHA) was created as an independent federal agency in 1934 to promote mortgage lending by providing insurance to banks for a portion of the loan. FHA was created to reduce the risk of loss by banks during the Great Depression.
You should understand, that the FHA [...] -
September New Home Sales Fall – Why? What Should be Done?
Today (October 28, 2009), the US Commerce Department reported that new home sales dropped by 15,000 from 417,000 in August 2009 to 402,000 in September 2009.
Many brain-dead “news” agencies, are attributing this drop the pending “expiration of the First Time Buyer Tax Credit.” This is THE MOST ridiculous assertion any thinking human being can make [...] -
Should Congress Extend the $8,000 First-Time Buyer Tax Credit?
As part of the so-called “economic stimulus package” signed into law in February 2009, people who are a “first time home buyer,” as defined in the law, can receive up to $8,000.00 as a direct credit against any income tax they owe to the federal government for the tax year 2009.
The main qualifications to receive [...] -
Improving the General Economy Will Improve the Real Estate Markets
It doesn’t take an economics guru, like Milton Friedman, to understand, that the general economy must improve before the real estate markets are able to improve. It naturally occurs, that when general economic conditions are sinking deeper into negative territory (as evidenced by many factors including a national unemployment rate of 9.8% and rising), that [...]
