http://utahmortgagenow.com Sat, 12 Sep 2009 21:03:08 +0000 http://backend.userland.com/rss092 en One of the effects of the economic recession is the depreciating value of mortgage rates. Foreclosures and mortgage interest rates have been on a high during the past months due mainly to the economic downturn. Aside from that, consumer spending has caused millions of unemployment, which led to homeowners’ inability to ... http://utahmortgagenow.com/mortgage-rate-fluctuations/ As I've talked about recently, now has never been a better time for first time home buyers to get into a home.  However, if you are a first time home buyer, you are probably overwhelmed by the many different financing options available to you.  If you take the time to ... http://utahmortgagenow.com/first-time-home-buyers-financing-basics/ For many first time home buyers, obtaining an FHA home loan is a great idea and probably the best choice you can have.  FHA backed mortgages make it easier for individuals and families to get into home because of less strict borrower requirements such as... Low minimum down payment (about 3% ... http://utahmortgagenow.com/understanding-fha-home-loans/ Over the last few weeks we have been working on a few FHA Streamline Refinance loans and we have missed out on closing them in the month of October. Now we will have to wait until the last week of November to close them.  You might be asking yourself, why? Well, ... http://utahmortgagenow.com/why-do-fha-streamline-loans-close-at-the-end-of-the-month/ [flvplugin flv=http://utahmortgagenow.com/videos/fhastreamlineblogpost.flv player= buffer=5 autoplay=false loop=false border=true preload=false infobutton=true redirect=] I just got done helping a woman streamline their FHA home loan. It was a very easy loan and very beneficial for our client. When speaking with her about the possibility of a streamline refinance, she asked me a ... http://utahmortgagenow.com/who-is-the-best-candidate-for-an-fha-streamline-refinance/ [flvplugin flv=http://utahmortgagenow.com/videos/blogpost.flv player= buffer=5 autoplay=false loop=false border=true preload=false infobutton=true redirect=] I just got done checking interest rates and they are the lowest that I have seen them in about four weeks so now is an excellent time to purchase a home! It is also a great time to purchase because housing prices ... http://utahmortgagenow.com/now-is-a-great-time-to-get-a-mortgage/ I was reading in the New York Times today and I noticed two articles about how the LIBOR rate had dropped significantly yesterday. LIBOR stands for London Inter Bank Offering Rate. Many people have no idea what influence LIBOR has on our economy and the loans we have. ... http://utahmortgagenow.com/why-you-should-know-what-the-libor-is/ This weekend I was watching the General Conference of The Church of Jesus Christ of Latter Day Saints with my wife and daughter.  One of the best talks that I heard on Saturday morning was the talk given by L. Tom Perry. Elder Perry talked a lot about debt and not ... http://utahmortgagenow.com/keeping-up-with-the-joness/ For those of you new home buyers reading this, did you know that if you don't have a downpayment of at least 20% or more that you will have to carry private mortgage insurance (PMI) until your loan is paid down below that 80% mark? In the past, some people have ... http://utahmortgagenow.com/do-you-have-to-get-private-mortgage-insurance/ I have done quite a few loans for my clients with the lender being Countrywide.  I got a call last night from my sister in law about an email she had received from Countrywide saying that her and her husbands identity might have been stolen in this ordeal. This had been ... http://utahmortgagenow.com/countrywide-id-theft/