Posted by Kelly Rydzik on February 23rd, 2010
FANNIE MAE HOMEPATH APPLIANCE INCENTIVE
Fannie Mae recently announced a sales incentive to encourage the sale of their REO properties. This applied to purchase agreements signed on or after January 28, 2010, and closing before May 1, 2010. During the offer and negotiation of the purchase, Fannie Mae is offering buyers an incentive of up to 3.5% of the final sales price to be used towards the purchase of new Whirlpool® appliances by Fannie Mae.
We have lenders that are participating with the incentive as follows:
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Posted by Kelly Rydzik on January 27th, 2010
In Wisconsin, the Best First Time Home Buyer Programs May Be the Old Standards: FHA, VA and USDA
Wisconsin First time homebuyer programs sometimes seem like an urban legend. Searching for mortgage programs that are specific to this group is almost impossible. There are, on a county by county basis, down payment and closing cost assistance programs but nothing more.
The government is offering tax rebates to people that purchase a home (even a houseboat, for example) as their primary residence by April 30th. As long as they haven’t owned a home in the past three years, one could qualify for up to $8000. The problem is that most people need to borrow money from a bank to purchase a home and they are making it very difficult to do.
Wisconsin FHA, VA and USDA’s Rural Housing programs seem to be the best available options. These programs have been around for a long time and are very consumer/buyer oriented. They also give the banks (that’s where the money comes from!) some assurances that they will receive some or all of their money back if a default occurs.
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Posted by Kelly Rydzik on January 20th, 2010
HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
Measure to help bring stability to home values and accelerate sale of vacant properties
In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes…
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Posted by Kelly Rydzik on January 7th, 2010
I have been in the lending world for 20 years. I have been surviving one of the more difficult times in hopefully our lifetime. I have learned over the years that part of being successful is helping others to succeed. I want you to be confident that I work to get loans closed especially in this volatile market I work with changes and keep everyone involved posted.
Despite the down market and struggling economy, we found 2009 to be a very good year and expect nothing less of 2010. We have been able to open 10 new branch offices in 2009 with the most recent office in Madison, WI which I have been promoted to Branch Manager to oversee the daily operations of this office while continuing to provide high quality service to current and future homeowners.
Here is a little information about our company:
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Posted by Kelly Rydzik on December 21st, 2009
Illinois and Wisconsin Mortgage Rates as of
12/21/2009 at 9:17 AM CST
Current Mortgage Rate Trend: Steady
Visit http://www.madisonmortgageguys.com/current_rates/index.htm for all current rates and APR information.
| 30 Year Fixed: |
5.000% (5.080% APR) |
| 15 Year Fixed: |
4.500% (4.580% APR) |
| 30 Year Fixed FHA: |
5.000% (5.060% APR) |
| 30 Year Fixed VA: |
5.250% (5.310% APR) |
| 30 Year Rural Housing: |
5.250% (5.310% APR) |
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