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A HARP 3 Pilot Program Approved? – Melbourne, Florida Update

June 10, 2013

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A HARP 3 pilot has already been approved. HARP 2 although much improved compared to the original release of the Melbourne, Florida HARP refinance program is still relatively restrictive for many homeowners. Several upside-down homeowners do meet all HARP requirements except they have their loans held by non-GSEs; this is what blocks them from getting [...]

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HARP 3.0 Will Be Coming Soon?

May 23, 2013

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A new mortgage bill that is very much like HARP 3.0 has been introduced recently. The Responsible Homeowner Refinancing Act of 2013 that has been introduced in congress recently is said to remove certain closing costs, including the cost of home appraisal, and the bill will also make it simpler for homeowners to “change servicers” [...]

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Congress Introduces Bill to Help Homeowners

March 2, 2013

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Although not technically dubbed HARP 3.0, the Responsible Homeowners Act of 2013 expands HARP 2.0 and makes it simpler for underwater homeowners to refinance their mortgages into lower monthly payments and interest rates.  The bill, introduced in Congress, makes it easier for borrowers to switch loan servicers and eliminates certain closing costs. Check My Florida [...]

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Orlando, FL Tax Deductions for Real Estate Purchases and Refinances

February 13, 2013

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One of the biggest perks of homeownership is the number of tax deductions that U.S. homeowners get to take thanks to their home.  Current U.S. tax policy works to incentivize citizens to invest in homeownership by offering tax deductions like:   Interest Paid   The interest that Orlando, FL homeowners pay to their lenders every [...]

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Longwood, Florida SunRail and the Revival of Historic Downtown

September 19, 2012

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The city of Longwood, Florida has had little success for the past decades of struggling to draw new investors to its historic downtown. Empty storefronts are a common sight in the shabby and rundown Ronald Reagan Boulevard as a recent consultant report described it. In 2014, SunRail trains are expected to start operations into a [...]

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Retail Sales Dropped In December And Now So Are Mortgage Rates

January 15, 2010

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Mortgage rates are dropping this morning on weaker-than-expected Retail Sales data from December. Lower rates means more bang for your home-buying buck. Excluding motor vehicles and parts, December’s “ex-auto” sales receipts were down roughly $500 million from November. Analysts had expected receipts to grow. The relevance of Retail Sales to home affordability isn’t obvious, but [...]

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RealtyTrac’s 2009 Foreclosure Report Gives Reason For Optimism

January 15, 2010

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Like real estate, it appears that foreclosure activity is a local phenomenon, too. As reported by RealtyTrac.com, more than half of all foreclosure-related activity in 2009 came from just 4 states: California Florida Arizona Illinois More than 1.4 million filings made in 2009 are attributed to the above states. Furthermore, each ranks in the Top [...]

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10 Cities For Home Bargains

January 14, 2010

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As the housing market improves across the country, certain cities are emerging as relative bargains.  Some areas, like Miami, were hit hard by the recession, and other areas are buoyed by good school systems and strong labor markets. In this 5-minute video from The Today Show, 10 cities are highlighted for their home prices.  And [...]

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The Bad Jobs Report Wasn’t All Bad — Mortgage Rates Fell

January 12, 2010

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Despite the headlines, it’s important to remember that December’s jobs report wasn’t all bad news. Sure, the economy shed 85,000 jobs last month and the Unemployment Rate failed to dip below 10%, but for home buyers and rate shoppers , the news was just fine. The soft employment data led mortgage rates lower, making homes [...]

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What’s Ahead For Mortgage Rates This Week : January 11, 2010

January 11, 2010

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Data was sparse through 2010′s first trading week last week, setting the stage for a week of momentum trading. In up-and-down trading, mortgage pricing improved overall but the best rates of the week didn’t last long. Rates improved Monday and Tuesday as an oversold market corrected itself to better price points.  Then, in anticipation of [...]

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Chris Brown
Chris Brown is the premier expert on HARP loans and Government FHA and VA loans. Please visit The Mortgage Chili Blog