Charlottesville Housing Recovery Starts Here

Were you denied a mortgage and/or put through the ringer as a potential borrower?  The drag on the housing recovery as a result of the uncertainty and insanity of current mortgage underwriting cannot be overstated.  If the current administration wanted to do one thing to jump start the housing recovery (and by extension the US […]


PMI Premiums No Longer Deductible

Starting this year, homeowners can no longer write off their private mortgage insurance (PMI) premiums like they have for the past several years.  Some type of mortgage insurance is required when a home buyer uses less than a 20% down payment.  Mortgage insurance for conventional mortgage loans can be paid two different ways.  It can […]


Funding the Payroll Tax Cut with Home Loans

A change that just started in the past week is an increase in the cost for conventional financing to pay for the temporary extension of the payroll tax cut that was enacted just before Christmas.  This new fee is supposed to go into effect on April 1 but it is for loans delivered to Fannie […]


Lowered Cost for VA Home Financing

There are some changes taking effect on October 1, 2011 when using  VA financing to buy a home.  VA financing has always been an attractive 100% financing program for qualified veterans (and national guard or reservists) and now it will be even better!  VA financing just requires a financed funding fee  paid at closing and no […]


Automatic Subordinations in Virginia

With home loan rates being so low right now, almost everyone wants to refinance to take advantage of the lower interest rates.  If a home has a second loan (like a home equity loan or a second trust loan), it is  required to seek a subordination of the second  loan from the bank holding that financing.  Some banks […]


New UAD Format for Appraisals

Effective September 1, Fannie Mae and Freddie Mac are requiring all new appraisals to be subject to the new UAD format.  Government agencies certainly love using acronyms.  UAD stands for Uniform Appraisal Data which is an attempt to standardize appraisals so that the information in appraisals is more consistent across the board. Bathrooms will be […]


Credit Rating Downgrade and Its Effect on Mortgage Rates

A lot of people have expressed concern about the effect of S&P’s downgrading the credit rating of the United States would have on mortgage interest rates.  You would think a lower rating would mean interest rates would move upwards. Surprise!  Rates are already incredibly low (30 year  fixed conventional in low 4’s) and rates are […]



Charlottesville Real Estate Inventory

Charlottesville Home Inventory Heading in the Right Direction Inventory of homes for sale in Charlottesville generally increase in the first half of every year, with many homes coming on the market for the Spring selling season. The good news is that in 2009, we’ve seen the inventory of homes shrink – not enough to bring […]


Why We Ate Turkey for Thanksgiving

Because the media said so, that’s why.  Again it all started back with the Pilgrims in 1621 and some guy by the name of William Bradford wrote “History of Plymouth Plantation” and said that turkey was served.  By the way, he wrote that piece 22 or so years after the fact. Well, of course, turkey […]