Harrisonblog

When first time home buyers begin thinking about purchasing a home, their first thought is usually, “Can I afford it?” or “Do I have enough money?” These are valid questions, and do need to be answered before you begin your home search.
The first step in the process of purchasing a home should be visiting with [...]

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The Federal Housing Administration (FHA) has a loan program for rehabilitating homes and communities called the 203(k) Loan Program. Better known as a “Rehab Loan.” This program is meant to encourage new home ownership, rehabilitation of neighborhoods, and communities.
One advantage of this program is that “buyers can focus on the location and floorplan instead of [...]

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Effective January 1, 2010, changes will be made to the Real Estate Settlement Procedures Act (RESPA), which will improve the client experience with regards to choosing a mortgage loan. Essentially, these changes will allow the client to make a better informed decision about which loan to go with. Less confusion, and more peace of mind! [...]

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Traditional mortgages are fixed-rate mortgages, adjustable-rate mortgages (ARMs), refinance loans, second mortgages, and home equity lines of credit. When looking to buy a home, it is important that you meet with a mortgage broker or bank to determine the best option for your particular needs and desires in a home loan, but here are a [...]

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Lets face it, the economy is cold, bad, not fun right now. When the economy goes sour, so does the financial welfare of most of us. For the housing market, this means that many folks need to sell their homes, foreclose, or do a short sale. What is the difference between a foreclosure and a [...]

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Do you ever find yourself having conversations in acronyms and abbreviations? I guess it makes sense to shorten phrases, especially when using those terms frequently in conversation, but not everyone knows what they are all the time. So to increase your list of known acronyms, I provide you with information about TILA, HERA, and HOEPA.
The [...]

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A lot of chit-chat has been darting back and forth on the web about whether or not folks can actually use the new $8,000 first time homebuyer tax credit for a down payment. Well, the facts are in! If you qualify for the tax credit [click here to read up on qualifications for this credit] [...]

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By now you’ve probably heard all about the $8,000 first time home buyer tax credit passed by Congress a few months ago. Before now, though, folks couldn’t use the $8,000 toward a down payment because they’d have to file their tax returns in order to receive the credit. Shaun Donovan, secretary of the U.S. [...]

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There is a lot of confusing information floating around about the President’s plan to modify home mortgages — especially regarding who qualifies, when and how the assistance will be available, and its duration.
The Treasury Department has launched a website, FinancialStability.gov, that spells out everything. Click on the link for the “Fact Sheet.” It [...]

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MortgageCroc has a website that holds a plethora of information regarding mortgages and loans. It features a tip of the day, news, articles, lays out the basics of mortgages (credit scores, types of mortgages, amortization schedules, etc.), and is all-in-all a cool looking site. So if you have any questions about mortgages, feel free to [...]

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