If you're looking for something fun to do this Memorial Day weekend, visit the Sacramento Jazz Festival. We have been to this every year for the past six years and it's always a good time.
For more info: http://www.sacjazz.com/
Thursday, May 26, 2011
Thursday, May 19, 2011
Should Congress Mandate 20% Down for Mortgage Loans?
Congress is attempting to make it mandatory for all home buyers to put at least 20% down. Many argue that this will put the American dream of owning a home out of reach for most home buyers. The majority of our first-time buyers are all using the FHA loan product and putting only 3.5% down. Without this, many will have to wait years to save 20% down.
The flip side to this is that the most recent string of foreclosures and short sales are FHA buyers from 2008 and on who had little financial stake in their homes. These new FHA defaulters are further exacerbating an already fragile housing market with little chance in the near future of recovering. Congress has a point with the 20% down; however, I still think it would be a bad idea as homeownership brings so many positives for a family and its community.
For more information, visit: http://www.realtoractioncenter.com/
The flip side to this is that the most recent string of foreclosures and short sales are FHA buyers from 2008 and on who had little financial stake in their homes. These new FHA defaulters are further exacerbating an already fragile housing market with little chance in the near future of recovering. Congress has a point with the 20% down; however, I still think it would be a bad idea as homeownership brings so many positives for a family and its community.
For more information, visit: http://www.realtoractioncenter.com/
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