MHDC 2008A target date February 11, 2008
The MHDC’s [Missouri Housing Development Commission] next bond issue’s target date is 2.11.2008. Unless we see the kind of volatility we saw a couple weeks ago they should meet the target date. There will be some important changes to this issue. MHDC backed loans Read more
3bed 2ba 1700sq 2 story complete renovation | $124,900
We have finished the renovation of 3431 Pennsylvania. The property is in Gravois Park. It has been completely renovated. The home has 6 inch trim, crown molding, refinished hard wood Read more
100% New Construction and Rehab Financing
Cornerstone Mortgage is now able to offer 100% construction financing. The product is a one-time-close construction to perm. Self General’s are allowed. Read more
MHDC Bond issue 2008A delayed for Market Volatility
The MHDC will be delaying their bond issue 2008A until the second week in February. Market volatility and the predicted FED rate cut are the cause. Once the market settles they will be able to issue the new bond. Read more
News Flash | The conforming loan limit raises to $650,000
We have heard rumors that the approved economic stimulus package will have a clause to temporarily raise the conforming loan limit to $650,000 in high cost areas. This is an amazing opportunity Read more
California Home Buyer Sues Agent
David Streitfeld of the New York Times is reporting that Marty Ummel, a home buyer in California is sueing her Real Estate Agent for advising her to buy at an over inflated price. She claims that her agent Read more
“Footsie’s” $116,000,000,000 stock market decline!
Londons leading stock index the FTSE [footsie] declined 323.5 points or 5.5%. That is the biggest 1 day loss since the September 2001 attacks. Some people are calling today “Black Monday.” The crash is being blamed Read more
Citigroup may write down $24,000,000,000!
CNBC is reporting that Citgroup could write down as much as $24 Billion in losses and up to 24,000 employees Read more
MHDC January 2008 Bond Issue
The Missouri Housing Development Commission is going to release a new bond issue for January 2008. The last bond issue was 6.04% without cash assistance and 6.49% with a 3% cash grant with no repayment. Cornerstone Mortgage is one of the Top 10 MHDC approved lenders! Read more
Rate Watch Update and $100 give-a-way
I hold a $100 a month give-a-way to anyone that completes and returns their “Rate Watch Update.” The odds of winning are pretty good!