Hello friends,

I hope everyone had a great Christmas and has plans for a great New Year. With the economy in its current state and everyone being on a tight budget, I wanted to let you know a few things.

For those of you that are homeowners:

Rates are at an all time low right now and expected to stay low in 2009. If you have been in your home for over a year (or will hit your year mark in 2009) you might want to look into refinancing.

If you have an FHA loan, and have made 12 consecutive payments on time and still live in the property, you can do a FHA Streamline Refinance.  It is called a streamline because an appraisal does not have to be done and your credit is pulled to verify that the mortgage has been paid on time for the last 12 months,  Other then those two things, nothing else is verified including income or assets. This basically means, you get a lower monthly payment without having to qualify again!

The loan HAS to reduce your payment and cannot be used for cash out purposes.  It cannot be used to change the circumstances on the loan as well.  In other words, if there are two people on the first loan, the same two people must be on the second loan. But it will make your loan smaller each month and less owed.

Most of you that have bought homes from me and used Taylor Hill, if you were in the position to go FHA, you likely did.

For conventional loan holders: some people are refinancing into an FHA loan. If rates are 1% under your current rate, you might want to consider it. For most conventional loans, you will just need to talk to a lender and see if if it will help you.
Just fell free to let me know if you have any questions or email/call Taylor at 615.243.7590.

If you are a first time home buyer, or want to be:
this is going to be a great year to get a deal. People are pricing homes to move them and rates are the lowest I have ever seen them. Please let me know if you would like to start looking or if you have questions. I’m here to help!

Happy Holidays!