Mortgage information and lots of other thoughts from a long time SE Connecticut home financing professional.
ARCHIVED BLOG POSTS
The Veterans Administration offers a guaranty for mortgages of up to $417,000.00 to eligible veterans with -0- money down. In addition, the VA allows the veteran to borrow money at the time of the purchase for energy efficiency improvements to the home. Up to $6,000.00 can be borrowed with docum...
The local newspaper (www.THEDAY.com) included 14 legal notices advertising foreclosure sales in our area. As a mortgage banking professional I read these notices and wonder what has happened behind the scenes for each of these foreclosures.Did these people lose their jobs? Was their a death in t...
The American Dream Downpayment Initiative program is back. ADDI, as it is known, allows prospective home buyers to receive a forgivable grant of between $10,000.00 and $25,000.00 to help with the purchase of a single family home. This money may be used for down payment and/or closing costs and ...
The local Multiple Listing Service has provided some very interesting statistics for New London County, CT.21 towns and cities make up New London County. According to the MLS statistics 7 of these town had a drop in median sales prices for one family homes during 2007 which means 14 towns had an...
On December 22, 2007 I wrote a post about the Connecticut mortgage program called CT FAMLIES (yes, the spelling is correct). The program was designed to try to help Connecticut residents who had ended up with subprime mortgages that were now becoming unaffordable. Three lenders, McCue Mortgage,...