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Open House June 10th!!

by House to Home Properties LLC

Open House at W10202 County Rd F June 10th, 2017

CFPB Announces Two-Month Pushback of TRID Rule

by House to Home Properties LLC

RISMEDIA, Friday, June 19, 2015— The Consumer Financial Protection Bureau (CFPB) announced this week a proposal to push back the effective date of the TILA-RESPA Integrated Disclosure rule, which combines two mortgage disclosure regimes into one. The new date is set for October 1. The rule, originally set to go into effect August 1, has been making headlines for months, with feedback coming in from every end of the real estate spectrum that the start date was too soon.

The CFPB credits the two-month delay to an “administrative error.”

“We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks,” says CFPB Director Richard Cordray.

“We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time,” added Cordray.

“Clearly, the Bureau listened to the concerns that industry has for consumers,” comments Michelle Korsmo, chief executive officer of the American Land Title Association. “Consumers would be helped even more if the CFPB also announced a specific hold-harmless period for industry to understand how the forms will work in real life transactions. Under TRID, some mortgage lenders and settlement service providers may initiate additional risk-management tactics that could slow the closing process for homebuyers.”

Frank Keating, ABA president and CEO, concurs. “This extension will help protect consumers from disruptions during a traditionally busy period for home purchases,” says Keating. “It will also help to assure new loan origination systems and compliance software under development by lenders and the vendors on whom they rely will be adequately installed and debugged, and staff training completed, before the effective date.”

“The action announced today by the CFPB is a welcome step. NAR has long advocated the need to avoid implementing the new regulation during the peak summer selling season,” said National Association of REATLORS® President Chris Polychron. “REATLORS® appreciate that the CFPB has demonstrated an understanding of the need for additional time to accommodate the interests of the many consumers and providers.”

Copyright© 2015 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission.

 

We're on Facebook!

by House to Home Properties LLC

Like us on Facebook!

www.facebook.com/housetohomeproperties

Like us on Facebook for more information on our listings, events, realtors, etc.

Vacation Home As a Tax Deduction?

by House to Home Properties LLC

Vacation home. Mortgage interest on your second home is deductible, just as it is for your principal residence. Property taxes can be deducted on any number of homes. If you rent the place for 14 or fewer days during the year, the rental income is tax-free to you. If you rent it for more than 14 days a year, you must report the income, but also may claim deductions for rental expenses.

From Kiplinger.com

Read more: http://www.kiplinger.com/features/archives/2007/01/hometaxopedia.html#ixzz1LsosE2rC
Become a Fan of Kiplinger's on Facebook

Mortgage rates ease for first time in a month

by House to Home Properties LLC
 

Mortgage rates ease for first time in a month

Borrowers rush to beat FHA premium increases

By Inman News
Inman News™

Mortgage rates eased this week for the first time in a month, as

signs of inflation remained subdued, Freddie Mac said in releasing

the results of its weekly Primary Mortgage Market Survey.

Rates on 30-year fixed-rate mortgages averaged 4.8 percent with an

average 0.7 point for the week ending April 21, down from 4.91

percent last week and 5.07 percent a year ago.

 

This year, rates on 30-year fixed-rate loans have ranged from

4.71 percent in early January to a high of 5.05 percent in February.

The 30-year fixed-rate mortgage hit an all-time low in Freddie Mac

records dating to 1971 of 4.17 percent during the week ending

Nov. 11.

"Low inflation is keeping mortgage rates at bay," said Freddie

Mac Chief Economist Frank Nothaft in a statement. "The core

consumer price index rose just 0.1 percent in March, below the

market consensus forecast. The 12-month growth rate in core prices

was 1.2 percent, which is also rather low by historical standards."

Freddie Mac's survey showed rates on 15-year fixed-rate mortgages

averaging 4.02 percent with an average 0.7 point, down from

4.13 percent last week and 4.39 percent a year ago. The 15-year

fixed-rate mortgage hit a low in records dating back to 1991 of

3.57 percent in November.

 

Rates on 5-year Treasury-indexed hybrid adjustable-rate

mortgage (ARM) loans averaged 3.61 percent with an average

0.6 point, down from 3.78 percent last week and 4.03 percent a

year ago. The 5-year ARM hit a low in records dating to 2005

of 3.25 percent in November.

 

Rates on 1-year Treasury-indexed ARMs averaged 3.16 percent

with an average 0.6 point, down from 3.25 percent last week and

4.22 percent a year ago.

 

Looking back a week, a separate survey by the Mortgage Bankers Association showed demand for purchase loans was up a seasonally adjusted

10 percent during the week ending April 15 compared to the week

before.

 

The increase in purchase loan applications to the highest level

since Dec. 3 was largely due to a 17.6 percent increase in

applications for government-backed loans, the MBA said.

Borrowers were likely motivated by a scheduled increase in

FHA insurance premiums, the group said.

 

Despite the surge in demand, purchase loan applications

remained 11.4 percent below the level seen at the same time

a year ago, the MBA said.

 

Requests for refinancings were up 2.7 percent from the week

before, but accounted for 58.5 percent of mortgage applications,

the lowest share since May, 2010.

 

MBA economists expect rates on 30-year fixed-rate loans will

average 5.1 percent during April, May and June, and climb to an

average of 5.6 percent during the final three months of the year.

 

In an April 14 forecast, MBA economists predicted that rates on

30-year fixed-rate loans will rise more gradually next year, to

an average of 6 percent in the final three months of 2012.

Copyright 2011 Inman News

 

About Inman News™
Agents and brokers around the world turn to Inman News first for accurate,

innovative and timely information about the industry. Known for its award-

winning journalism, cutting-edge technology coverage and forward-thinking

conferences, Inman News is the leading independent source of real estate

news, education and insight.

First Quarter Stats for Waupun Area

by House to Home Properties LLC

So far this year, Waupun’s real estate market (53963 zip code) is staying steady as far as the number of homes sold compared to last year.  As I look at the sales statistics for the period of January 1 through April 1, there were 19 closed sales reported to the Multiple Listing Services in 2010 and 19 closed sales reported this year.  The stats also indicate more Waupun area country homes sold this year than last year at the same time.  Last year, during these first three months, the sales reported were at 94% of list price.  This year, the ratio is down to 91 %.   This year there were more lower priced (usually foreclosure homes) and an increase in higher priced properties sold in the first quarter of 2011.

As you know, WE LOVE TALKING REAL ESTATE…So if you ever have questions about the Waupun real estate market, do not hesitate to call us at 920-324-5200.

First Time Homebuyer Credit and Tax Refunds

by House to Home Properties LLC

RISMEDIA, March 26, 2011—The IRS recently released information on processing issues that are impacting a small percentage of tax returns involving repayment of the First Time Homebuyer Credit (FTHB), primarily involving 2008 home purchases. While most of these returns are processing normally, the IRS recognizes the hardship caused by delayed refunds, and it has assigned additional staff and resources to address the issues promptly.

It is important to note that taxpayer returns claiming a home purchase in 2010 are not affected, and those returns are being processed as are the vast majority of other homebuyer returns.

For more information click the link below.

Clean Slate

by House to Home Properties LLC

What good is a tidy home when the cleaners you're using are polluting the environment?  Here are some ways to cut back on harmful and toxic cleaning.

  • Do as much as you can with baking soda and water, which are safer, effective cleaners for your tub and shower.
  • Pop a mildewed shower curtain into the washing machine after presoaking heavily mildewed areas in a bucket filled with 1/4 cup bleach per gallon of water (make sure it's safe for the fabric first). The solution can then be used on other bathroom surfaces.  Hang the washed curtain back up in your bathroom to dry. Ventilate well when working with bleach.
  • Vacuum floors, or dust-mop them with a microfiber dust mop; don't sweep them.  Microfiber mops trap and hold fine dust and grime better than your broom does.
  • Use a lambswool duster to remove cobwebs and dust from ceiling fixtures, exposed beams and corners.
  • Freshen your fridge with baking soda.  When thinned with water to a grainy consistency, it's the perfect weapon for attacking chilled-on food, grime and fridge gunk.  Rub on with a white nylon sponge, let set a minute or two, and rinse clean with damp paper towels.

3 Tips to Keep Your Credit Scores High

by House to Home Properties LLC

#1.  DO NOT MAKE PAYMENTS LATE!!!  Even if you catch up later the late payments will show up and hurt your credit score.  Anything other than ‘paid as agreed’ on accounts on your credit report hurts your score.”

#2.  Dollar amounts don’t matter in FICO scoring.  The effect on your score is the same whether you have a $1 late payment or if you have a $1000 late payment.

Always pay your bills on time, every time.  If you must be late and want to avoid damage to your score, pay the accounts that report to credit bureaus first.  You will find this information by getting a copy of your credit report.

#3.  Do not close credit card accounts.  You could be throwing away years of positive credit history.  A long term positive account history can boost your score.

FHA Loans Could Be Easier

by House to Home Properties LLC

 

Some unexpected good news for anybody working to get into a home, especially first-timers who don't have much down payment cash on hand: The door to an FHA-insured mortgage just opened a little wider.

 Two of the largest FHA-approved lenders have backed off their controversial "overlay" requirements on FICO scores (lender overlays are qualification requirements that can be more stringent than FHA's own requirements).

 Wells Fargo and another national lender confirmed to that they will now lend to applicants with 580 FICOs and 3.5 percent down payments.

Their revised standards conform in most respects to FHA's own minimums, and open the agency's financing to large numbers of buyers whose credit scores have sagged during the recession. Wells Fargo is the largest originator of FHA-insured mortgages.

 

 

 

 

 

Displaying blog entries 1-10 of 20

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House to Home Properties LLC
314 E. Main Street
Waupun WI 53963
Office: 920-324-5200
Fax: 920-324-5272