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	<title>Mortgage Blog</title>
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	<link>http://www.choicefinance.net/blog</link>
	<description>Choice Finance®</description>
	<lastBuildDate>Fri, 06 Nov 2009 17:46:15 +0000</lastBuildDate>
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			<item>
		<title>$8,000 tax credit extended</title>
		<link>http://www.choicefinance.net/blog/2009/11/06/8000-tax-credit-extended/</link>
		<comments>http://www.choicefinance.net/blog/2009/11/06/8000-tax-credit-extended/#comments</comments>
		<pubDate>Fri, 06 Nov 2009 17:46:15 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>
		<category><![CDATA[MD first time homebuyer tax credit]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=481</guid>
		<description><![CDATA[The House passed the $8,000 first-time homebuyer tax credit earlier TODAY.   The legislation will be sent to the President, and upon his signature, made law.. 
*Recipients of the tax credit must ratify a contract no later than May 1st and close on their purchase no later than June 30, 2010.
*The tax credit gives up to $8000 [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/11/06/8000-tax-credit-extended/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Mortgage Insurance, tax write off through 2010</title>
		<link>http://www.choicefinance.net/blog/2009/11/04/mortgage-insurance-tax-write-off-through-2010/</link>
		<comments>http://www.choicefinance.net/blog/2009/11/04/mortgage-insurance-tax-write-off-through-2010/#comments</comments>
		<pubDate>Wed, 04 Nov 2009 18:09:40 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=470</guid>
		<description><![CDATA[A provision that allows homeowners to treat mortgage insurance premiums the same as interest is in place through at least 2010. The deduction applies to mortgage insurance premiums paid or accrued, including for prepaid MI, on acquisition (not on refinancing) debt.
 
The deduction is phased out for taxpayers (both single and married filing joint returns) with adjustable [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/11/04/mortgage-insurance-tax-write-off-through-2010/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>HELOC in today&#8217;s market &#124; Bob Kearns</title>
		<link>http://www.choicefinance.net/blog/2009/09/11/how-well-do-you-understand-your-heloc/</link>
		<comments>http://www.choicefinance.net/blog/2009/09/11/how-well-do-you-understand-your-heloc/#comments</comments>
		<pubDate>Fri, 11 Sep 2009 19:16:01 +0000</pubDate>
		<dc:creator>BobK41</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=462</guid>
		<description><![CDATA[Many of you probably have a second mortgage in the form of a HELOC (Home Equity Line of Credit).  But do you know how it differs from your conventional loan?
HELOCs are just that, a line of credit. They are not an amortized loan with a fixed rate over a fixed time period.  HELOCs are adjustable.  [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/09/11/how-well-do-you-understand-your-heloc/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>125% refinance &#124; Making Home Affordable</title>
		<link>http://www.choicefinance.net/blog/2009/09/10/125-refinance-making-home-affordable/</link>
		<comments>http://www.choicefinance.net/blog/2009/09/10/125-refinance-making-home-affordable/#comments</comments>
		<pubDate>Thu, 10 Sep 2009 23:05:43 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>
		<category><![CDATA[Virginia streamline rates]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=459</guid>
		<description><![CDATA[Fannie &#38; Freddie 125% LTV Refis
In an effort to reach out to more homeowners who are paying their mortgage, but could benefit from a refinance, Fannie Mae and Freddie Mac have further liberalized their underwriting rules under their special program created to help carry out the administration’s Making Home Affordable foreclosure prevention program.
Fannie’s Home Affordable [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/09/10/125-refinance-making-home-affordable/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Calculating Credit Scores</title>
		<link>http://www.choicefinance.net/blog/2009/09/08/calculating-credit-scores/</link>
		<comments>http://www.choicefinance.net/blog/2009/09/08/calculating-credit-scores/#comments</comments>
		<pubDate>Tue, 08 Sep 2009 17:32:22 +0000</pubDate>
		<dc:creator>BobK41</dc:creator>
				<category><![CDATA[2) General]]></category>
		<category><![CDATA[improving my credit scores to buy a md home]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=455</guid>
		<description><![CDATA[Most of the use of the new FICO 08 scores are being used by credit card companies and auto dealers. Currently, no mortgage lenders are using the new system. They are in the testing phase to see whether to incorporate it yet or not.
Changes were made available last month at all of the 3 major [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/09/08/calculating-credit-scores/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Good rates, good inventory, bad appraisal process</title>
		<link>http://www.choicefinance.net/blog/2009/09/03/good-rates-good-inventory-bad-appraisal-process/</link>
		<comments>http://www.choicefinance.net/blog/2009/09/03/good-rates-good-inventory-bad-appraisal-process/#comments</comments>
		<pubDate>Thu, 03 Sep 2009 17:05:13 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>
		<category><![CDATA[Maryland low appraisal]]></category>
		<category><![CDATA[Virginia appraisal hvcc]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=438</guid>
		<description><![CDATA[Fall homebuyers and sellers should be prepared to deal with one very exasperating issue: off-base appraisals.  At a time when home prices have been under downward pressure, appraisers have continued to scuttle contracts with low appraisals.
The problem is the current crop of appraisers being used has included some who are inexperienced in or unfamiliar with [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>$8,000 First time buyer credit &#124; Maryland Virginia</title>
		<link>http://www.choicefinance.net/blog/2009/08/31/8000-first-time-buyer-credit-maryland-virginia/</link>
		<comments>http://www.choicefinance.net/blog/2009/08/31/8000-first-time-buyer-credit-maryland-virginia/#comments</comments>
		<pubDate>Mon, 31 Aug 2009 21:32:01 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=422</guid>
		<description><![CDATA[If you are first-time homebuyer who has put off getting into homeownership, you only have a few short weeks left to take advantage of a fabulous incentive: the $8,000 first-time homebuyer credit.  Because the purchase must close before December 1, you can’t delay any longer. Mortgages are taking over a month to process these days, so [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/08/31/8000-first-time-buyer-credit-maryland-virginia/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Getting Rid of Mortgage Insurance</title>
		<link>http://www.choicefinance.net/blog/2009/08/12/getting-rid-of-mortgage-insurance/</link>
		<comments>http://www.choicefinance.net/blog/2009/08/12/getting-rid-of-mortgage-insurance/#comments</comments>
		<pubDate>Wed, 12 Aug 2009 19:08:57 +0000</pubDate>
		<dc:creator>BobK41</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=400</guid>
		<description><![CDATA[When am I eligible to drop my MI?
Many people want to know what the best way to get rid of mortgage insurance.  If you want to avoid PMI altogether, you must put 20% down when you purchase the property. Somewhat recently, people could get a 2nd mortgage for that 20%, but many lenders have done [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/08/12/getting-rid-of-mortgage-insurance/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>VA loan for Home Improvements</title>
		<link>http://www.choicefinance.net/blog/2009/08/10/va-loan-for-home-improvements/</link>
		<comments>http://www.choicefinance.net/blog/2009/08/10/va-loan-for-home-improvements/#comments</comments>
		<pubDate>Mon, 10 Aug 2009 16:50:03 +0000</pubDate>
		<dc:creator>BobK41</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=391</guid>
		<description><![CDATA[Updating a home can be an expensive proposition. Sometimes it is almost impossible to accomplish without some type of loan. If you or a family member happen to be a Veteran, it is possible to qualify for a VA home improvement loan. Taking out and using the equity in ones home can actually help increase [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/08/10/va-loan-for-home-improvements/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>DC Area Sales Rebound</title>
		<link>http://www.choicefinance.net/blog/2009/07/28/dc-area-sales-rebound/</link>
		<comments>http://www.choicefinance.net/blog/2009/07/28/dc-area-sales-rebound/#comments</comments>
		<pubDate>Tue, 28 Jul 2009 21:02:45 +0000</pubDate>
		<dc:creator>BrentMendelson</dc:creator>
				<category><![CDATA[2) General]]></category>
		<category><![CDATA[md]]></category>
		<category><![CDATA[private mortgage insurance]]></category>
		<category><![CDATA[real estate trends dc]]></category>
		<category><![CDATA[va]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=384</guid>
		<description><![CDATA[When I meet people and they find out what I do for a living I usually get two questions, &#8220;what are rates like&#8221;? and &#8220;how are home sales&#8221;? After a few years of less than positive answers I finally have at least some good news to report. 
It&#8217;s still a mixed bag out there but since [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/07/28/dc-area-sales-rebound/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Appraisals, HVCC &#124; Dear mortgage client..</title>
		<link>http://www.choicefinance.net/blog/2009/07/22/appraisals-hvcc-dear-mortgage-client/</link>
		<comments>http://www.choicefinance.net/blog/2009/07/22/appraisals-hvcc-dear-mortgage-client/#comments</comments>
		<pubDate>Wed, 22 Jul 2009 10:42:36 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=376</guid>
		<description><![CDATA[Dear Mortgage Client
I want to make sure you are aware of the recent appraisal changes in the mortgage industry as a whole.  While these changes don’t alleviate the frustrations Lenders and their borrowers are all having as a result of this new process, they do shed some light on why things are taking so long.
There have been many [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/07/22/appraisals-hvcc-dear-mortgage-client/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Increased loan limits- Reverse mortgages</title>
		<link>http://www.choicefinance.net/blog/2009/06/28/increased-loan-limits-reverse-mortgages/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/28/increased-loan-limits-reverse-mortgages/#comments</comments>
		<pubDate>Mon, 29 Jun 2009 02:48:28 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=344</guid>
		<description><![CDATA[As many housing market experts had predicted, with the growing number of Americans reaching retirement age, reverse mortgages are gaining popularity.  The FHA approved over 118,000 Home Equity Conversion
Mortgages, the most widely used reverse mortgage product, in 2008.
The reverse mortgage gets its name from the fact that the stream of payments is reversed.   Instead of [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/06/28/increased-loan-limits-reverse-mortgages/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Reverse mortgage to buy a home &#124; md va dc</title>
		<link>http://www.choicefinance.net/blog/2009/06/27/reverse-mortgage-to-buy-a-home-md-va-dc/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/27/reverse-mortgage-to-buy-a-home-md-va-dc/#comments</comments>
		<pubDate>Sat, 27 Jun 2009 11:40:19 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=332</guid>
		<description><![CDATA[The newest wrinkle in reverse mortgages is that they can now be used to purchase a principal residence under the FHA Home Equity Conversion Mortgage (HECM) for Purchase program.
How does HECM for Purchase work?
-The purchaser(s) must be 62 or older. 
-The appraised value of the home (or contract price if it is less) is subjected to [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/06/27/reverse-mortgage-to-buy-a-home-md-va-dc/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Making Home Affordable &#124; 2nd lien holders</title>
		<link>http://www.choicefinance.net/blog/2009/06/08/making-home-affordable-2nd-lien-holders/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/08/making-home-affordable-2nd-lien-holders/#comments</comments>
		<pubDate>Mon, 08 Jun 2009 21:27:00 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=328</guid>
		<description><![CDATA[The Treasury Department has announced an expansion of its Making Home Affordable Program aimed at encouraging loan modifications for struggling homeowners with second liens.  The original version of the program did not address situations where homeowners had second liens, such as where a purchaser used a piggyback second mortgage to reduce the need for a [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/06/08/making-home-affordable-2nd-lien-holders/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Condo financing &#124; maryland, virginia, d.c.</title>
		<link>http://www.choicefinance.net/blog/2009/06/04/condo-financing-maryland-virginia-dc/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/04/condo-financing-maryland-virginia-dc/#comments</comments>
		<pubDate>Thu, 04 Jun 2009 18:59:39 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
				<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=316</guid>
		<description><![CDATA[It might have been better to have titled this article &#8220;Condos for Cash,&#8221; since it seems that all-cash might be the only guaranteed way to purchase a condo today.  Simply put, if you are interested in buying a condominium in today&#8217;s market, be prepared to face some substantial financial hurdles. 
The problem now lies with the [...]]]></description>
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