Notes and Opinions from one of Arizona's Most Trusted Loan Teams Zero-Down Loophole for Home Buyers Ends Today October 1st, 2008 11:34 AM Seller-funded down-payment assistance is no longer allowed for FHA-guaranteed mortgages, and the nonprofits offering such help believe home buyers unable to secure nothing-down financing will be turned away at a time when they are crucial to the housing market's recovery. However, HUD insists that zero-down mortgages guaranteed by the FHA have default rates three times higher than FHA loans with down payments. Additionally, low- and moderate-income buyers still have access to down-payment aid through state agencies and traditional charities, both of which generally impose income guidelines and counseling requirements. More From "Zero-Down Loophole for Home Buyers Ends Today" Lansing State Journal (MI) (10/01/08) Guest, Greta Posted by on October 1st, 2008 11:34 AMPost a Comment (0) * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

Recent Posts: Mortgage Underwriting is Stifling Housing Recovery Tight Mortgage Credit Still an Issue RATES - RATES - RATES Taking the mystery out of FHA Non-Occupant Co-Borrower Loans Positive Shift in Real Estate Sales 5% Down Conventional Loans are Back First Time Buyers and All Refinances Need to Hurry 10 Important Tips About Homebuyer Tax Credit NAR: Pending Sales Down - Higher Than Last Year 2009 Wrap Up Archive: August 2007 Good time to buy? Posted by Jon Laird on August 30th, 2007 1:27 PM State of the Mortgage Industry Today Posted by Jon Laird on August 24th, 2007 12:57 PM November 2009 Rates Remain Great - First Time Buyer Credit Extended Posted by Jon Laird on November 13th, 2009 3:01 PM October 2009 Big Changes for Us - Better Service for You! Posted by Jon Laird on October 26th, 2009 10:11 PM "Evil" Mortgage Brokers Blamed for Meltdown Posted by Jon Laird on October 6th, 2009 1:06 PM September 2009 HomePath Mortgages Posted by Jon Laird on September 15th, 2009 11:29 AM August 2009 Inscription Ranch - North of Prescott Posted by Jon Laird on August 30th, 2009 10:57 AM Video Mortgage Minute Posted by Jon Laird on August 19th, 2009 11:44 AM Loan Modifications Posted by Jon Laird on August 14th, 2009 3:12 PM Another Blow to Manufactured Home Financing Posted by Jon Laird on August 5th, 2009 8:47 PM June 2009 Manufactured Home Financing Gets Tougher Posted by Jon Laird on June 15th, 2009 1:09 PM Mortgage Rates Rise to Seven Month High Posted by Jon Laird on June 12th, 2009 4:09 PM May 2009 New rules on appraisals jeered by some Posted by Jon Laird on May 28th, 2009 11:09 AM Continuing signs of recovery in Arizona market Posted by Jon Laird on May 6th, 2009 12:34 PM April 2009 Fed's Kohn Says Recovery Possible in '09 Posted by Jon Laird on April 22nd, 2009 10:21 AM Bernanke Signals End to Declining Economy Posted by Jon Laird on April 20th, 2009 10:26 AM Economists See a Rebound in September Posted by Jon Laird on April 13th, 2009 12:01 PM Recovery Hopes Begin to Blossom Posted by Jon Laird on April 7th, 2009 10:31 AM 97% of Homeowners Still Paying Mortgage on Time! Posted by Jon Laird on April 1st, 2009 10:54 AM March 2009 Investors "Call the Bottom" in Phoenix Posted by Jon Laird on March 29th, 2009 11:17 AM Fed Holds Rates Near Zero; To Buy Treasurys, More MBS Posted by Jon Laird on March 18th, 2009 1:48 PM February 2009 New and Improved Tax Credit for First-Time Home Buyers Posted by Jon Laird on February 18th, 2009 1:19 PM Citigroup and B of A Bailouts to Get a Hard Look. Posted by Jon Laird on February 6th, 2009 3:25 PM January 2009 Fed Leaves Fed Funds Rate Near Zero Posted by Jon Laird on January 28th, 2009 2:47 PM INTEREST RATES LOWEST SINCE 1971! Posted by Jon Laird on January 19th, 2009 11:05 AM Avoid Rip-offs and Scams if you are in trouble on your mortgage Posted by Jon Laird on January 7th, 2009 12:44 PM December 2008 Goodbye to 2008! Posted by Jon Laird on December 31st, 2008 12:06 PM Half of all "Rescued" borrowers default anyway. Posted by Jon Laird on December 8th, 2008 3:05 PM November 2008 Mortgage Rates Finally Begin to Fall Posted by Jon Laird on November 26th, 2008 11:43 AM October 2008 Existing-Home Sales Jump 5.5 Percent to a 13-Month High Posted by Jon Laird on October 24th, 2008 11:54 AM Builders Say Less Is More Posted by Jon Laird on October 20th, 2008 12:20 PM U.S. to Pump $250 Billion Directly Into Banks Posted by Jon Laird on October 15th, 2008 1:16 PM Survey Finds Expansion of Housing in the U.S. Posted by Jon Laird on October 7th, 2008 11:18 AM Zero-Down Loophole for Home Buyers Ends Today Posted by Jon Laird on October 1st, 2008 11:34 AM September 2008 Affordable-Housing Goals Scaled Back Posted by Jon Laird on September 25th, 2008 1:04 PM FHFA Appoints New Fannie and Freddie Chairmen Posted by Jon Laird on September 18th, 2008 11:22 AM "Bridge" Loans - An Old Idea with New Appeal Posted by Jon Laird on September 9th, 2008 12:08 PM Mortgage Applications Rose 7.5 Percent Last Week: MBA Posted by Jon Laird on September 4th, 2008 12:14 PM August 2008 Realtors Say Existing Home Sales Rose in July Posted by Jon Laird on August 25th, 2008 11:50 AM Housing Inventory Drops as Some Sellers Retreat Posted by Jon Laird on August 19th, 2008 2:33 PM Pending Home Sales Tick Up 5.3% Posted by Jon Laird on August 11th, 2008 12:05 PM More Foreclosures Expected yet Half Oppose Government Bailout for Those Facing Foreclosure Posted by Jon Laird on August 8th, 2008 11:44 AM Good Buyer - Bad Property Posted by Jon Laird on August 4th, 2008 5:52 PM July 2008 Congress Is Set to Limit Down-Payment Assistance Posted by Jon Laird on July 28th, 2008 11:57 AM Mortgage Applications Rose 3.6 Percent Last Week: MBA Posted by Jon Laird on July 21st, 2008 12:56 PM Applications for Mortgages Up 7.5 Percent Posted by Jon Laird on July 11th, 2008 11:44 AM Home Supply Fell Over Past Year Posted by Jon Laird on July 10th, 2008 12:04 PM Arizona Finally Gets Individual Loan Officer License! Posted by Jon Laird on July 3rd, 2008 2:47 PM Mobile Home Sales on the Rise Posted by Jon Laird on July 1st, 2008 10:38 AM June 2008 Ready for Some Good News for a Change? Posted by Jon Laird on June 27th, 2008 1:09 PM The Blame Game Posted by Jon Laird on June 26th, 2008 1:49 PM Mortgage Delinquency - 98.8% are NOT in Trouble! Posted by Jon Laird on June 26th, 2008 10:05 AM Rising Rates Add to Housing Woes Posted by Jon Laird on June 20th, 2008 11:02 AM Mortgage Rates Hit 8 Month High Posted by Jon Laird on June 13th, 2008 10:55 AM Why Mortgages are More Expensive in 2008 Posted by Jon Laird on June 9th, 2008 4:02 PM Economic Woes May Not Last Long Posted by Jon Laird on June 5th, 2008 10:55 AM Foreclosure is Not the Easy Answer Posted by Jon Laird on June 2nd, 2008 1:53 PM May 2008 99% of Homeowners are Making Their Mortgage Payments on Time! Posted by Jon Laird on May 23rd, 2008 1:52 PM Turnaround Times in the Mortgage Industry Posted by Jon Laird on May 20th, 2008 2:51 PM March 2008 Finally,some good news? Posted by Jon Laird on March 27th, 2008 1:54 PM Whose Market Is It? Posted by Jon Laird on March 6th, 2008 11:12 AM February 2008 Mortgage Rates and the Lying Liars who Advertise Them Posted by Jon Laird on February 29th, 2008 4:00 PM Do Manufactured Homes Appreciate in Value? Posted by Jon Laird on February 7th, 2008 10:27 AM January 2008 Fed Rate Cuts versus Mortgage Rate Cuts Posted by Jon Laird on January 31st, 2008 11:23 AM Median home price drop is VERY important news. Posted by Jon Laird on January 14th, 2008 12:56 PM December 2007 Loan Officer Licensing Posted by Jon Laird on December 28th, 2007 10:21 AM It's been a tough year Posted by Jon Laird on December 20th, 2007 3:27 PM New Pricing Structure for low FICO borrowers. Posted by Jon Laird on December 11th, 2007 12:14 PM November 2007 Manufactured Homes are the foremost source of unsubsidized affordable housing. Posted by Jon Laird on November 27th, 2007 11:05 AM It IS Getting Better! Posted by Jon Laird on November 7th, 2007 5:26 PM October 2007 Manufactured Home Financing NOT Affected by Mortgage Meltdown Posted by Jon Laird on October 10th, 2007 2:25 PM September 2007 Arizona Home Stats Posted by Jon Laird on September 29th, 2007 11:04 AM Straight Up Truth About Refinancing Posted by Jon Laird on September 14th, 2007 10:34 PM November 2009 (1) October 2009 (2) September 2009 (1) August 2009 (4) June 2009 (2) May 2009 (2) April 2009 (5) March 2009 (2) February 2009 (2) January 2009 (3) December 2008 (2) November 2008 (1) October 2008 (5) September 2008 (4) August 2008 (5) July 2008 (6) June 2008 (8) May 2008 (2) March 2008 (2) February 2008 (2) January 2008 (2) December 2007 (3) November 2007 (2) October 2007 (1) September 2007 (2) August 2007 (2) My Favorite Blogs: Sites That Link to This Blog:

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