There have been increased problems related to appraisals in recent months. On May 1, Home Valuation Code of Conduct (HVCC) rules were adopted regarding mortgages that will be owned or guaranteed by Fannie Mae and Freddie Mac. Based on what we are experiencing as of late, I am concerned that the rules could delay or actually eliminate a number of potential home sales. In addition, the rule changes are costing consumers where they can least afford the extra expense.

What is HVCC? HVCC is where the federal government is requiring there be a "break" between the person working the loan and the person doing the appraisal.  In theory this is a good idea because it makes it difficult for a lender and an appraiser to be working together to commit loan fraud. It…

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Yet another reason to breathe easy in Wisconsin...

In a bipartisan effort in May 2009, the Wisconsin Legislature passed legislation that will make all bars and restaurants in the state smoke free. The law will go into effect in July 2010.

“Now, Wisconsinites will be able to enjoy a night out or a meal with their families without breathing in dangerous secondhand smoke,” said Bruce Speight, WISPIRG advocate.

For the past year and a half, WISPIRG has built public support for this measure and exposed the false claims of Big Tobacco that smoke-free laws are bad for the economy. In 2008, WISPIRG released a new report which found that communities and states that had gone smoke free had not experienced negative economic impacts.

WISPIRG supporters rallied with Lance…

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It's well established that walking offers better health, fewer greenhouse gases, more transportation options (e.g. bicycling and busing), increased social interaction with family and neighbors, and stronger local businesses. So in its effort to match people with Homes that fit their lifestyle, we at Lake & City Homes are proud to announce the addition of WalkScore to LakeandCityHomes.com. We simply love that WalkScore ranks thousands of neighborhoods all over the country to help you find a walkable place to live. So we decided to integrate that functionality into our search capabilities and more. Here's how we do it (so far):

Search for "highly walkable" homes 

A "Walk Score Minimum" field has been added to our MLS Search so you can search for homes…

3724 Views, 6 Comments


OK - follow the bouncing ball....
 
The FHA initially indicated they would allow the $8K tax credit to be used towards a down payment.
 
Then they reversed that decision and decided to NOT allow it.....
 
But it appears they have now reversed their reversal and once again WILL allow it......at least for today!

Below is a copy of the Mortgagee Letter from FHA dated 5/29/09 which outlines how they will allow this to work, and if you ask me it is typical "government-ease" for language and the requirements to follow seem to me to very complicated to the point where I wonder how many lenders are going to want to meet those requirements, ie: validating all eligibility requirements for the tax credit are fulfilled and review previous tax returns and IRS tax…

2074 Views, 6 Comments

Kiplinger ranks Madison #7 "2009 Best City"The July 2009 issue of Kiplinger's Personal Finance magazine has published a "2009 Best Cities" list in which Madison WI is ranked #7. According to Kiplinger.com, the list focuses on cities that can boast stable employment including the talent to create new, well-paying positions explaining that it is these cities' robust job markets that make them "safe havens" during the recession and which should give them a "head start toward growth" when the recovery takes off.

Martin Prosperity Institute research director Kevin Stolarick evaluated U.S. cities for their growth potential, looking at the overall number of jobs, quality of positions, and the ability of cities to retain those positions when the economy slows. Says Stolarick, "Although downturns are felt…

2650 Views, 4 Comments