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December 2014

Found 15 blog entries for December 2014.

We have some big news for the mortgage industry: Fannie Mae and Freddie Mac down payment requirements have been lowered!  The down payment requirements used to be a standard minimum of a 5% down payment, but it has now been lowered to a 3% down payment.  These new minimum down payment requirements are part of a new Freddie Mac program called “Home Possible Advantage.”

First time homebuyers will be able to use these funds for either a 15, 20, or 30 year fixed-rate mortgage or a limited cash-out refinance.  First time homebuyers will still need to meet the other requirements that are associated with Fannie Mae and Freddie Mac loans in order to be eligible for the Home Possible Advantage program and the reduced 3% minimum down payment requirement rates.

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Along with other important questions that the buyer might have, most agents are so excited to add a listing that they neglect to ask the seller why they are even selling to begin with.

This is an important question that any buyer should be asking. If the agent does not know certain crucial questions that you need to know, they can ask the seller way before you make a purchase offer.

Use planning and research to make sure that you are picking the right home and mortgage.

What is an Off Limit Question to the Listing Agent?

Is the Seller willing to accept a lower offer? (Or any variation of this question)

Even if the seller was firm that they would not lower the price, the agent cannot answer this question because a seller’s decision on

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The 2015 AutoGlow: The Future Starts Here is sponsored by FORD. It will held at Ford Field January 16, 2015 4:30pm to 1:00am.

Help brighten the future of our children during this event hosted by Bill and Lisa Ford and Mark and Jane Fields. You will partake in a journey into the future. Live entertainment, elegant food and private transportation will be provided.

The Children’s Center Mission:

To help children and families shape their own futures. We put children and their families at the center of all that we do. Providing the most expert and compassionate care needed – so they can heal, grow and thrive.

What Does the Children’s Center Do?

The Children’s Center is staffed with Master’s level licensed clinicians in their intake Department

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If you are behind on your mortgage, there is a program for you called HAMP that can easily help you.  Here are the five most common HAMP FAQ Questions:

Q: If I already have a HAMP modification that exists, can I use the new principal forgiveness program?

You could possibly use the new principal forgiveness program.  Servicers will be reviewing your loan if it was already modified; at this point, they will determine if principal forgiveness would bring this closer to market value.

Q: Do I qualify For a HAMP principal reduction?

Your property must be worth a minimum of fifteen percent less than your first mortgage.  However, this won’t be a benefit to every single borrower.  If you are eligible, our servicer will be in touch with you.

Q: How

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Buying a Home

If you are buying a home, you need to be aware of the fact that sometimes when a seller moves out of the home they will often leave things behind that you will then be forced to do something with. The things that get left behind are often things that the sellers may not have realized would be a big deal to leave behind.

These items could include a pile of wood for the fireplace or a garden hose outside. If you don’t want to have the hassle of removing items from the home after you purchase the home, you may want to make it clear in your contract that you would like the seller to remove specific items.

The Final Walk-Through

You will have the opportunity to do a final walk-through of the home before you close. During this walk-through, pay

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Calendar - Image Credit: https://www.flickr.com/photos/dafnecholet/5374200948

If you live in or around the Detroit area, or if you will be visiting the area in January, there are a number of events happening that you may want to check out. No matter your interests, there is sure to be at least one event that will you will find interesting.

The Art of Video Games

If you’re a gamer, this is one event you won’t want to miss. This event, put on by the Flint Institute of Arts, explores how video games have evolved over the past 40 years from the Atari to the Playstation 3 and have become an artistic medium. This event runs until January 18th, 2015 and cost of admission is $5 to $7.

Island of Lemurs 3D

Island of Lemurs 3D is an IMAX documentary film narrated by Morgan Freeman. The documentary focuses on the wildlife of

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If you're a homeowner, there may be a time where you need to rent out your home for career reasons or to gain some extra cash flow. If you are going to rent out your house, here are some quick tips you need to know:

Get an Insurance Policy.

Before you rent out your home, you will need to get an insurance policy known as rental property insurance. This will protect you from damage that your tenants will do to your home while living there. You will also be protected from legal actions that your tenants may pursue against you. However, if your tenants want to ensure their personal property is protected, they will need to purchase their own renter's insurance.

Hire an Accountant.

If you are renting your house, you will have a great deal of tax

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When you decide it's time to start shopping for your new home, it's important to understand the difference between prequalification and preapproval. First-time home buyers don't always know what they are getting into when they start the house-hunting process. Here's a look at the difference between preapproval and prequalified mortgages.

Are they the Same?

Sometimes, home buyers interchange these two words and even some real estate agents do, too. However, a preapproval is not the same as a prequalification. A borrower may be eligible for a mortgage, but they are not prequalified yet. The same goes for somebody that is prequalified, but not preapproved for a mortgage yet. This could be the difference between closing and not closing on your new

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