Texas Home Loan Blog

The mortgage market scenario in the second quarter of 2010

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Mon, 12 Jul 2010 13:50:46 -0400

The mortgage market scenario in the second quarter of 2010

Mortgage rates are at historic low in the present times. The rates have further dropped in the last week of June, 2010 from the previous weeks. This condition may help consumers to take out mortgage loans or refinance their existing mortgages with comparatively lower interest rate loans. Read on to get an idea about the mortgage market condition in the second quarter of 2010.

The 30-year mortgage rates have fallen down to about 4.49% (in the last week of June) from about 4.53% (in the week before). Likewise, the interest rates on 15-year FRMs (Fixed Rate Mortgages) have dropped down to about 3.97% (in the last week of June) from about 4.04% (in the previous week). The interest rates on 5/1 ARMs (Adjustable Rate Mortgages) have fallen down from 3.5% to about 3.44% during the same time period.

In July, 2010, the interest rates on 30-year FRMs in Dallas, Texas are about 4.68% and the rates on 15-year FRMs are about 4.22%. The interest rate on a 5/1 ARM is about 3.5% and it is about 3.66% on a 7/1 ARM. People living in Dallas can get mortgage loans on these rates if they don't want to pay any point upfront. The rates may get further reduced if they pay some points on the mortgage loans.

The Weekly Mortgage Applications Survey conducted by the Mortgage Bankers Association reveals the fact that the Market Composite Index (a measure of the volume of mortgage loan application) has increased about 8.8% (in the last week of June) on a seasonally adjusted basis from its previous week. During the same time period, the Index has increased about 8.3% on an unadjusted basis. The Refinance Index has risen to about 12.6% from the week before. It is the highest Refinance Index since May 2009. However, the Purchase Index has dropped to about 4.1% (in the last week of June) from its previous week. The purchase mortgage applications have decreased to about 15% (in the month of June) as compared to May 2010.

Obama administration has extended the closing deadline of the homebuyer tax credit from June 30 to September 30, 2010. However, in most of the states, the consumers who have already entered into a binding contract by April 30, 2010 are only eligible to get the tax credit if they close on the home loans by September 30.

The above mortgage market scenario indicates that more people are applying for refinance mortgage loans in order to take advantage of the record low rates. The consumers are eager to refinance their existing mortgages in order to make their monthly home loan payments more affordable. However, consumers are not applying much for purchase mortgage loans. It may be due to the fact that the consumers have already taken advantage of the first-time homebuyer tax credit and have entered into a binding contract by April 2010. However, experts are of the view that low mortgage rates will continue for sometime that in turn, may result in increased purchase mortgage applications in the near future.

Samantha Taylor is the Community Mentor of MortgageFit and has been contributing her suggestions to the Community since 2005. Not just that, she has also made notable contributions through the various articles written on different subjects related to the mortgage industry. Few of her popular articles would include names like 'Mortgage that you can afford' , ' Mobile Home Loan with Bad Credit' , and ' How much mortgage can I borrow"?

The Right Appliances - Garland, TX

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Thu, 08 Jul 2010 15:08:00 -0400

The Right Appliances - Garland, TX

My refrigerator is running(insert joke here)

I had the pleasure of using Mike Billingsly with The Right Appliances in Garland, TX again for my appliance repair needs.
If you need Appliance Repair in Garland, TX and the surrounding areas, I highly recommend Mike.

The Right Appliances
325 S. Shiloh Ste# 100
Garland, TX 75040
(972) 272-3323

Mike is neat/clean and very personable. I always feel like I am getting honest advice about my appliance repair.
Word of mouth is a majority of his advertising, which tells me that people are always satisfied with Mike's work.

Tom Burris
DallasLoanGuy.com
Dallas, TX

http://www.dallasloanguy.com/

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

Dallas, TX Mortgage Rates

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Thu, 08 Jul 2010 14:24:46 -0400

Dallas, TX Mortgage Rates

Several yrs ago I put some clients in mortgage loans in the mid 4% range. At that time I told thm that we would NEVER see rates this low again.

Was I ever wrong. We hit some new lows.... How low? 50yr lows!!!

How about 30 Year Fixed Rate Mortgage Rates in the low to mid 4% range? WOW!!

What can you do with a rate this low?

1. You can buy more home for your money.

2. You can refinance and lower your monthly payment.

3. You canlock in a low, low rate now and invest the difference in what you would have paid towards your mortgage at 6%

If you are in a mortgage in the high 5's or 6% range. You should definately consider refinancing. But only if you plan on staying in this home long enough for your monthly savings to recoup your closing costs.

Refinancing isn't in the best interest of everyone. Talk to a professionalloan officer.

Tom Burris
DallasLoanGuy.com
Dallas, TX

http://www.dallasloanguy.com/

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

Mortgage Rate Forecast - June 7, 2010

Robert D. Ashby, CMPS - Solid Rock Mortgage Corporation — Mon, 07 Jun 2010 12:33:58 -0400

Summer has started and things are certainly getting warmer. Down here in South Florida, we have already seen heat indexes into the triple digits. One interesting part of my having two “careers”, is that I also spend time in the south part of the world and just got back from Brasil (again), where it is cool. Well, the mortgage backed securities market seems to like to travel into both spectrums these days as volatility remains, and a few surprises lurk in the shadows.

Last week was certainly an interesting one, with a shocker thrown in for good measure. Throughout the week, we saw mortgage bond pricing trying to break through their 10-day moving average, which held quite nicely and left the end of the corrective move in question. However, despite the beginning of a slow descent last Wednesday and Thursday, the “candles” remained green, showing strength within, a “pilot light” if you will. Well, that pilot light sent off a burning rally on Friday that was driven by a majorly disappointing Jobs Jamboree that I do not think anyone was expecting. The end result was MBS prices breaking not just their 10-day moving average, but soaring through their most recent highs and breaking even a sideways pattern formation in favor of an uptrend. One thing to keep in mind though is that the “rubber band” is still stretched pretty thin and we did not get as solid a correction as we probably needed as well. Looking back over the last week, data continued to show economic improvement, though slowing. It is quite clear that mortgage applications are on the decline, supported only by low interest rates sparking a new demand for refinances. While we saw nice housing numbers, it didn’t take much for people to realize those numbers hide reality of today’s market. We also know that this week holds more longer-term Treasury Auctions, which could weigh on mortgage rates’ ability to remain low as the Treasury Announced them last week.

So what is in store for this week? Can mortgage rates hold their newfound ground, or will they be destined to be pulled back higher as the “rubber band” regains its shape. Well, the week will start off dataless and that means MBS prices will rely on news and technical indications. As the week progresses, Treasury Auctions will play a big role, as will Fedspeak. As the week comes to an end, data will pick up and we will end with a big read on the economy, Retail Sales. This week is another week with data being fairly light, but with some potentials for market moving surprises like last week. Here is the currently listed events…

Monday: 3-month T0Bill Auction (11:30), 6-month T-Bill Auction (11:30), Consumer Credit (3:00)
Tuesday: 4-week T-Bill Auction (11:30), 3-year T-Note Auction (1:00)
Wednesday: MBA Purchase Applications (7:00), Wholesale Trade (10:00), Crude Inventories (10:30), 10-year T-Note Auction (1:00), Beige Book (2:00), Ben Bernanke Speaks (4:00)
Thursday: International Trade (8:30), Jobless Claims (8:30), 30-year T-Bond Auction (1:00), Money Supply (4:30)
Friday: Narayana Kocherlakota Speaks, Charles Plosser Speaks (8:20), Retail Sales (8:30), Consumer Sentiment (9:55)

Once again, we see a week lightly filled with data plays, particularly typical market movers. That usually places technical indications in the driver’s seat, though world news adds to the excitement. Any weakness, or even portrayed weakness, shown in the Treasury Auctions could send MBS prices into a tailspin as well. It will certainly be another week to “watch from the sidelines”.

As we look to the charts, we still see the uncertainty and market jitteriness. The charts lack a definitive pattern, which typically means that this last move higher in MBS prices is probably not supported, though it cannot be ruled out completely. We may have more surprises lurking in the shadows, so be careful again this weak and keep in mind that risks certainly continue to outweigh the rewards at these pricing levels. Stochastic indications are again in the overbought spectrum, though still have some room to “grow.” The 100-day moving average has crossed above the 200-day MA with the 50-day close in trail. With MBS prices back above their 10-day MA and hitting new heights, the charts certainly paint a nice picture, but these levels have been tested before and failed intraday, so this may very well be the “rubber band’s” stretching limit.

The bottom line this week is that caution is to be heeded. While things look good, there are some “gotchas” potentially lurking in the shadows. With no definitive pattern as yet, risks still outweigh the rewards and locking is likely the best option, at least for the beginning of the week. Remember that last corrective move may not have been solid enough and that could play out more this week as well. Hold on to your hats, because volatility is likely to continue.

(I have decided to start posting this weekly forecast here starting this week, but I was actaully the first mortgage rate forecast blogger as I have been doing this for many years. This weekly forecast has been posted on Lenderama for over two years alone and I recently started my own radio show at Blog Talk Radio, which is essentially this report but allowing Q & A from anyone whom attends. I expect that show will grow from its current 15 minute broadcast into something at least 1/2 hour, if not longer and will encompass more topics beyond the weekly forecast. I welcome ideas and if anyone is interested in speaking on certain topics, feel free to contact me and I will see what I can do. Also, don't forget to check out my daily forecasts at Florida Mortgage Daily and my newer site, MBS Commentary and Florida Mortgage Report will be back operational again in the near future hitting on a wider variety of topics than before, though its main focus will still be mortgage planning strategies whenever possible and will hit on Money Merge Accounts and other mortgage acceleration programs again.)

A Testimonial - The DallasLoanGuy

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Mon, 15 Mar 2010 20:51:24 -0400

Sometimes we just answer a simple question.... And get paybacks for a long time

Thanks activerain for the forum!!

From: XXXXXXXXBillXXXXXXXXXX
Sent: Monday, March 15, 2010 17:48
To: The DallasLoanGuy - Tom Burris
Subject: Re: FW: Info on tyax deductible interest

Wow, Tom! What great info and talk about going above and beyond! I may be too far along in this process with B of A to have you broker this particular loan but I can assure you I'll call on you next time and will refer friends to you if I hear they're needing a mortgage. I'm a marketing professor and you really provided great service here even though it was unlikely you would directly benefit. Thanks, again.

Bill

p.s. I live in Abilene but have been a marketing professor at Pepperdine University in California for 14 years. I'll even use you as an example in my executive MBA classes.

On Mon, Mar 15, 2010 at 3:58 PM, The DallasLoanGuy - Tom Burris <tomburris@dallasloanguy.com> wrote:

See link and attached

Follow up to our earlier email

http://www.irs.gov/pub/irs-pdf/p936.pdf

Pages 2, 3 and 8 would be especially helpful.

Describes when it is ok to write off mortgage interest.

Tom Burris
Mortgage Banker
DallasLoanGuy.com

214-763-4629 cell/text/nights/weekends

http://www.DallasLoanGuy.com/

"P.S. While my business is good and growing steadily, it is important for you to know that I am never too busy to help those you refer to me: your family, friends, neighbors, and coworkers."
"Don't keep me a secret! Take a minute to let your friends know the value you received from our services."

William,

Yes, the NOCB will be on title/deed.

You aren’t co-signing…. You will be a co-borrower(non occupying)

He will still qualify for the tax credit. I have verified before, but suggest that you investigate yourself since I do not give tax advice.

He will get full credit for homestead.

The only downside to this is that he will likely get credit for interest deductions, although my CPA thinks YOU can….. Since he will likely not have anything else to deduct and will take a standard exemption.
I suggest you consult with your own CPA or utilize the phone numbers at IRS.gov and get an opinion on deducting interest.

Let me know if you have anything else.

Tom Burris

Mortgage Banker
DallasLoanGuy.com

214-763-4629 cell/text/nights/weekends

http://www.DallasLoanGuy.com/

"P.S. While my business is good and growing steadily, it is important for you to know that I am never too busy to help those you refer to me: your family, friends, neighbors, and coworkers."
"Don't keep me a secret! Take a minute to let your friends know the value you received from our services."

From: XXXXXXXXX BILL XXXXXXXXXXXX
Sent: Monday, March 15, 2010 14:21
To: tomburris@dallasloanguy.com
Subject: FHA non occupying co-borrower

Our son will be entering medical school in Lubbock in July and we're helping him buy a house. I have strong credit (and he does too even though he has no income as full-time student). From what I'm reading, it seems to me that FHA requires that a co-borrower actually be named on the deed. Is that your understanding? I don't understand why I would need to appear on the deed as long as I sign all of the loan documents to ensure that I'm fully responsible for the debt. I'm concerned because of two factors: (1) our 22 year old son qualifies for the $8,000 first time home buyers tax credit and I'm wondering if the fact that I appear on the deed with him will keep him from getting that, and (2) in January when he files for the homestead exemption, will be only get 50% of that tax break?

Thanks for any guidance you can provide.

Bill

Tom Burris
DallasLoanGuy.com
Dallas, TX

http://www.dallasloanguy.com/

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

FTC Cracks Down on "Free Credit Reports" That Just Aren't

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Wed, 10 Mar 2010 16:06:42 -0500

Finally, something that makes sense....

Via Eleanor Thorne 919-649-5057 Cary Mortgage Loans (First Financial Services, Inc):

I'm tired of that "F-R- Double E Spells FREE" credit report commercial! Because what they are "hawkin' is NOT free!
Thankfully, on March 3, 2010 the Federal Trade Commission file a revision to the Free Annual File Disclosure Rule to address the abuses and deceptive advertising for Free Credit Reports. This was part of the new Credit Card Accountability and Responsibility Act 2009.

The new disclosure is available now, but must be used after April 2, 2010, per the FTC ruling... however the Radio and Television Ads don't have to go off air until September 1, 2010 (although the advertisements must adhere to the interim disclosure in the Credit Card Accountability Act until then.)

"The pre-existing requirement to make a free annual credit report available to consumers applies to consumer reporting agencies that operate on a nationwide basis. The new marketing requirements apply to parties that offer free credit reports. For purposes of the requirement, a "Free Credit Report" is a file disclosure prepared by or obtained from, directly or indirectly, from a nationwide consumer reporting agency that is represented, either expressly or impliedly, to be available to the consumer at no cost if the consumer purchases a product or service, or agrees to purchase a product or service subject to cancellation."

I think this is GREAT news for consumers who have been PAYING for what services they don't need!

If you are looking for credit repair from someone who cares about your situation, and will show you how to immediately, and over time imporve your score - please call Steve Thorne, Credit repair specialist 919-649-5058 also check out this site ... it's all about credit repair and dispute information!

Last chance for First Time Home Buyers and other tax credits?

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Wed, 24 Feb 2010 21:00:30 -0500

Some good advice from a friend of mine. Pay attention to the timeline.... Don't lose out on the Tax Credit

Via Ken Cook, FHA Home Loans 678-439-8683:

At the time I was writing this post we had 69 days and nearly 22 hours left to get those contracts signed and executed. Let me explain - that's almost not enough time.

By the time you, as a home shopper, get approved for a mortgage (should always be the first step unless you truly are paying cash), find the home you are looking for, make an offer, get it back - not including the time it takes to negotiate price if that comes into play, get the inspection and appraisal done and get your loan to closing about 30 days will have passed. That is for a smooth shopping event followed by a smooth loan event.

My company generally closes loans in less than 21 days from contract to close but we rely heavily on many other moving parts including the title company (closing attorney), the appraiser, the seller (if it's a bank add a few to several days to the process), your insurance agent, the appraiser, and you to get everything to us we need. Yes, we can, have and do close faster. Be careful about closing times and what companies call the process. For example from the time we have everything required to close the loan until closing occurs can and has been as little as 2 days. Of course it often takes a week or two to get to that point. That's why we say 21 days from contract to close.

What I am say is if you are planning on taking advantage of the tax credits which have been offered for several months you need to get off your duffus and start making offers.

Step One - Get Pre-Qualified

Now because of some lovely time restraints and new federal regulations you can't really get fully qualified until you have accepted a Good Faith Estimate of Settlement Costs. You can't, legally, get a Good Faith Estimate of Settlement Costs until you have a property address. So while there are some caveats in there until the regulation is rewritten your pre-approval is just that ... pre.

Step Two - Go Shopping

Do NOT go buy a new truck because you just found out your credit is good. Do NOT apply for new credit of ANY kind including store credit down at the MegaLo Mart. You have one purpose in life and that is to find a property that can be financed with the type of loan you are pre-qualified for. This may or may not be a "fixer-upper" and if it is a "fixer-upper" you really are waiting until the last minute.

Step Three - Move Quickly

Don't be the reason your home loan is delayed from being underwritten. Get all of your documents to the lender when they ask for them. Be the person who makes the processor say, "Wow! They had this to me within 10 minutes!" Especially if you are purchasing with an FHA 203k Streamline loan you want to make sure you get started now. If you are using one of the community down payment assistance programs or a USDA rural loan program that will take longer as well.

Take advantage of it NOW because the chances of it being extended yet again are slim to none.
Ken Cook - Georgia - FHA, USDA, VA and Conventional Home Loans (678) 439-8683

Teach it.... Preach it.... Teach your fellow Real Estate Pros the power of activerain

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Mon, 22 Feb 2010 20:36:57 -0500

I am partnering with Cammie Winover and Winover Insurance to deliver an introductory course about blogging to Realtors in the Dallas area.

Contact Cammie for great Texas Insurance Rates TODAY!!

Original content posted at my Texas Home Loan Blog.

Tom Burris
DallasLoanGuy.com
Dallas, TX

http://www.dallasloanguy.com/

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

UPDATE YOUR VIRUS DEFINITIONS TODAY!!!!

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Fri, 19 Feb 2010 11:56:40 -0500

UPDATE YOUR VIRUS DEFINITIONS TODAY!!!!

Kneber Botnet
is a new virus after financial info.

ALSO.... searching for info on Kneber can result in you stumbling onto a malware site. Be careful.
If you search for info on this virus, click only on trusted news source links and beware of spoofs.

http://tech.yahoo.com/blogs/null/160728/beware-kneber-search-results-lead-to-malware/

This has been a public service announcement from The DallasLoanGuy

Have a great weekend everyone!!!!

Tom Burris
DallasLoanGuy.com
Dallas, TX

http://www.dallasloanguy.com/

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

Video Blog- "Is The FDIC Killing Short Sales?"- A MUST WATCH

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Tue, 09 Feb 2010 23:15:50 -0500

Interesting.....

Do NOT miss this....

Via Robert G Hertzog (Summit Home Consultants):

Video Blog- "Is The FDIC Killing Short Sales?"- A MUST WATCH

Many of you read the blog I wrote in September/2009, entitled "Is The FDIC Killing Short Sales?" In the blog, I explained how OneWest Bank, who had received a sweetheart deal from the FDIC called a "shared-loss agreement", was holding my client hostage for a $75,000 promissory note demand.

In the end, once I reminded them of how much money they were getting from the FDIC, they agreed to drop their demand for the promissory note, and the short sale closed 3 weeks later.

Today, they guys at "Think Big Work Small" did a great video blog, describing my case. If this doesn't get your blood boiling, I don't know what will! Take 5 minutes out of your busy day to watch this video. It does a great job of what could be causing your short sales to stall.

Video Blog-"Is The FDIC Killing Short Sales?"- A MUST WATCH

Please Please Please do your part and re-post this blog to everyone you know. The "Think Big Work Small" website gets several thousand hits per day, and this story needs to get out!

Bob Hertzog

Designated Broker-Summit Home Consultants

www.phxshortsalehelp.com

P.S.- "Think Big, Work Small" did a follow-up to the story yesterday. Fast-Forward to the 1:50 mark to view it.

Video Blog-Follow Up

Hey Texas... FHA Streamline Refinance Rates below 5%

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Tue, 01 Dec 2009 16:37:38 -0500

FHA Streamline Refinance Rates

Wow! Below 5% on a non-qualifying(mostly) loan. Still need a 620 credit score and job is verified. However, we do not calculate income/debt/assets.

A refinance is not for everyone..... But there is no charge to have a mortgage analysis done by your professional loan officer.

Call today for your free consultation!!

Tom Burris
DallasLoanGuy.com
Dallas, TX

http://www.dallasloanguy.com/

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!!

Todays Announcements

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Wed, 20 Jan 2010 16:20:40 -0500

From the Horses Mouth..... So to speak.... (sorry David)

FHA Commissioner David Stevens explains the need for a few changes to FHA

Via David H Stevens (United States Dept. of HUD):

Today I will be announcing a series of changes to FHA that will affect some of you. As you read about them, please note a few key points.

FHA fell below is legislated requirement to have 2% in excess capital for reserves above and beyond forcasted losses. Being below this 2% requires me, by law, to make changes to get the funds reserves back over 2%. Virtually all of the losses are from 2006, 2007, and 2008 book years. These are the worst years in the housing crisis from an origination standpoint and they contained programs like the SFDPA (seller funded downpayment assistance) that have extremely high default rates.

The changes announced today will get the reserves up and put in place some controls to protect the fund and FHA for the long term, while making sure not to overly, adversely, impact this housing market at a critical time.

You can read about these in any major newpaper today or perhaps tomorrow, but please understand that these are necessary to keep FHA functioning. Without some tightening, we would be under extreme scrutiny and the lack of fiscal soundness could threaten FHA for the long term.

The housing market is slowly coming back to life in many markets across the country. Let's keep working at making this american dream of homeownership be part of a safe and responsible system for the long term.

Thanks for listening and for being a professional in this industry - it's why I post here in active rain - this place is filled with real pros.

Have a geat day.

FHA Non Occupying Co-Borrower

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Tue, 01 Apr 2008 15:11:32 -0400

FHA Non Occupying Co-Borrower rules in a nutshell.

Typically called a 'Kiddie-Condo' loan. FHA allows family members to help their kids buy their first home. Whether they are in school with no income or out in the real world and just need a little extra income to qualify.

FHA allows for a family member to be a non-occupying co-borrower in order to assist in qualifying. This is available when your borrower would qualify for the loan when considering their credit but they wouldn't qualify because of debt ratios, employment, income and assets.

Adding a NOCB does not resolve credit issues!! The occupying co-borrower must be credit worthy or have no credit at all. Bad credit will kill the deal. No credit - no problem.

The occupying co-borrower does not have to be employed and does not have to invest in the transaction.

The DallasLoanGuy Originates, Processes, Underwrites, Closes & Funds FHA Loans in-house. We offer manual underwrites down to 620 FICO.

Tom Burris
DallasLoanGuy.com
Dallas, TX

"A Home Loan for Every Texan"

http://www.dallasloanguy.com/

Texas Home Loans

I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!! Subscribe to My Blog and stay informed about current lending changes!!

Don't pay to have someone file your Homestead Form. It is FREE!

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Tue, 08 Dec 2009 22:57:51 -0500

Good info for first time homebuyers. You will get lots of offers after you buy a home as the transaction is a public record.

Via Jeff Kessler ABR,GRI, Texas 512.801.5666 (Austin Homes, Realtors www.CentralTexasHomeRebates.com):

So you may have bought a new home this year, if so, congratulations. The home buying process can be a fun and interesting process. Hopefully you had a good experience.

Most likely when you closed on your home you went to the title co and signed a ton of paperwork.

In that paperwork is probably a form to fill out so you can get your homestead exemption. If not I will post a link for you at the bottom to find your Taxing Office.

Come Jan 1st you can then file for your homestead, but not before the 1st. You have till April 30th to get the form in.

Now is the important part.

Watch out for scams. You will most likely get a very official looking notice in the mail that says "company name" will file your homestead for $25. All this company does is fill in your information and fax the form to the Tax Office.

THIS SERVICE IS FREE so please don't pay anyone to do this for you. Just send in the forms yourself.

Here is the link to the Tax Appraisal offices. http://www.txcountydata.com/selectCounty.asp If your county is not in the drop down box then visit this link. http://www.txcountydata.com/links.asp This site does not have all the counties, but it is a good start.

Enjoy saving money this Jan 1st.

Here are a few more ways to save money on your next home purchase or let a friend know how to save.
That would be a great holiday gift.

For new home anywhere in Texas purchases please see http://www.RebateOnTexasHomes.com

For resale home purchases anywhere in Central Texas please see http://www.CentralTexasHomeRebates.com

Wondering what is wrong with your Appraisal?

Tom Burris | Texas Mortgage Dallas Mortgage FHA (DallasLoanGuy.com) — Sat, 05 Dec 2009 10:15:04 -0500

Everyone in our industry needs to get involved here.

Sign the petition

Via Gynell Stalford - Texas Cert. Appraiser *****FHA & FLAGSTAR APPROVED***** (Metroplex Appraisal Services - The FHA Appraisal Shop):

This might help.

http://www.thinkbigworksmall.com/mypage/archive/1/4916/

Please sign the petition and help change this.

http://www.hvccpetition.com/

Gynell Stalford

Metroplex Appraisal Services - FHA & FLAGSTAR APPROVED

Commerical & Residential Appraisal & Consulting Services

Serving Collin, Dallas, Rockwall, Kaufman and Tarrant Counties.