The KCM Blog

March 2010

Is the JUMBO Market Loosening up?

March 8, 2010

There has been an improvement in the interest rates available for Jumbo Mortgages, and that is encouraging news.  In addition, some lenders are even lowering the amount of down payment required in the Jumbo loan programs- which is even more good news. Let’s begin with some basics. Jumbo mortgages are those mortgages which exceed the [...]

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KCM Weekend Library Links

March 6, 2010

We all know that if you want to keep current on what’s going on in anything, you need to stay on top of what is being published by the people in that field.  That is why every weekend we bring together all the articles (from a myriad of sources) together in order to keep people [...]

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FHA 203(k) – Understanding Its Real Value – Part 2

March 5, 2010

Here is Part 2 of Skip Schenker’s two part series on understanding the FHA 203(k) and its real value. In case you missed yesterday’s, here is a link to Part 1. How Is the Appraisal Completed? The appraiser is given a detailed report from either a licensed contractor [for the “Streamline” 203(k)]; or from an [...]

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FHA 203(k) – Understanding Its Real Value – Part 1

March 4, 2010

Many readers have requested a post on the FHA 203k program. I was lucky to meet Skip Schenker, a national expert and instructor on the subject, while we were both speaking at a conference in Dallas last month. I asked him to share some of his thoughts. Here is his contribution. – Steve Harney The [...]

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Puzzled Banks Now Buying Time

March 3, 2010

Often I get asked why banks are not foreclosing on borrowers even after they do not make mortgage payments for many months. Actually, the answer is quite logical. To fully appreciate the banks position we must understand that the current housing market is like a Rubik’s cube. Every action the bank takes creates a challenge [...]

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Has It Become Stupid NOT to Walk Away?

March 2, 2010

Yesterday I posted on the latest Negative Equity Report from First American Core Logic. In that post, I quoted the report as saying that one of the ramifications of negative equity is that it is: a major factor in changing homeowners’ default behavior. That change in behavior could take on many different forms. One of [...]

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