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FHA to Increase Cost of Up-Front Mortgage Insurance Premiums

Posted by on Feb 29, 2012 in Buyers | 0 comments

If you are thinking about buying a home and utilizing an FHA-insured single-family mortgage loan, a new premium structure will be implemented April 2012 that will cost you more money.

FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount. Upfront premiums (UFMIP) will increase by 0.75 percent (from 1 percent currently to 1.75 percent).  FHA is also exercising its statutory authority to add an additional 0.25 percent to mortgages exceeding $625,500 assigned on or after June 1, 2012.  FHA will still allow buyers to finance this charge through their mortgage and estimates that this increase will cost the Borrower an additional $5 per month on average.

Borrowers already in an FHA-insured mortgage, Home Equity Conversion Mortgage (HECM), and special loan programs outlined in FHA’s forthcoming Mortgagee Letter will not be impacted.

Source:  © 2012 Florida Realtors®

Open House – Sunday, March 4th from 11am to 2pm.

Posted by on Feb 17, 2012 in Buyers, For Sale, Open House | 0 comments

Premier Open House at 401 NW 187th Way, Pembroke Pines, FL  33029 in Chapel Oaks

Sunday, March 4th, from 11am to 2pm.

Offered at $248,700, this “Abilene“ model features 3 bedrooms designed as a split floorplan, 2 bathrooms, upgraded master bathroom, volume ceilings, an open kitchen with nook and breakfast bar overlooking the family room, and a formal living and dining area.  This open and bright home also includes stainless steel appliances, tile flooring, laundry room, and hurricane shutters.

This home is immaculately maintained and located near major highways.  All public schools are A-Rated.  This home is a must see!

CLICK HERE to take a Virtual Tour of this home or stop by the Open House and see it in person.

Call me at 954.816.4728 for additional information.

Just Listed in Chapel Oaks in Pembroke Pines

Posted by on Feb 14, 2012 in Buyers, For Sale | 0 comments

3 Bedroom / 2 Bathroom / 2 Car Garage – Offered at $248,700

This “Abilene” model home is located in Chapel Oaks in Pembroke Pines, Florida and features 3 bedrooms designed as a split floorplan, 2 bathrooms with the master bathroom completely upgraded, volume ceilings, an open kitchen with nook and breakfast bar overlooking the family room, and a formal living and dining area.  This open and bright home also includes stainless steel appliances, tile flooring, laundry room, and hurricane shutters.

This home is immaculately maintained and located near major highways.  All public schools are A-Rated.  This home is a must see!

CLICK HERE to take a Virtual Tour of this home.   Call me today at 954.816.4728 for an exclusive showing.

You May Owe Federal Income Taxes In 2013 If You Have A Short Sale, Foreclosure

Posted by on Jan 11, 2012 in Foreclosures, Sellers | 0 comments

You may owe federal income taxes in 2013 if you have a short sale, foreclosure

WASHINGTON – Jan. 9, 2012 – You may owe federal income taxes in 2013 if you have a short sale, foreclosure after this year. Now is the time to make the hard decision: Are you going to walk away from your underwater home?

Uncle Sam is still giving homeowners until Dec. 31, 2012, to go through a short sale or foreclosure without tax consequences – as long as the lender officially releases the debt.

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