News You Can Use

Tomorrow is Groundhog Day. What news will Punxsutawney Phil bring us this year? Will he see his shadow? If he doesn’t see it, Spring will come sooner…could warmer weather bring more sales contracts at higher prices, less mortgage defaults, and more jobs? No pressure Phil, but some thawing in these sectors sounds pretty good about now. 

The Treasury Department announced last week that a homeowner’s attempt for loan modification will be more difficult, requiring more paperwork and verification. The goal is to make the process harder to start but easier to qualify for. HUD’s announcement last week about lifting the 90 day seasoning rule will make acquiring and reselling foreclosures simpler. The tax credit is still available for eligible buyers under contract by April 30^th  which is sure to help recipients’ pockets. 

My point is there are resources for the changes and improvements we are sure to see in the upcoming months. Whether or not Phil predicts a shortened Winter, the groundwork is being laid for the market to turn around for many.  My role at Cunningham & Company is to provide clients with trouble-free lending so let me know how I can help!

Featured Loan Program

VA

Cunningham & Company offers 100% financing through VA mortgages. These loans are available to past and present service members and require no down payment and no mortgage insurance.

• Maximum loan amount with no down payment is $417,000
• The funding fee can be financed into the loan
• VA eligibility can be used time and time again
• Fixed rates and ARMs available
• Reduced documentation available through automated underwriting

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