NOW IS THE TIME TO BUY - The housing market is still ticking. Interest rates while at an all time low, are creeping up slightly. Now is the time to buy! Whether you are a first time home buyer, a move up buyer or investor, the time is good NOW!  

There are many opportunities coming on the market from bank owned properties to foreclosures that can be purchased at a reasonable price. There are over 100 of such properties currently on the market in Orange County and are being purchased by smart buyers who have realized the trend. No one has a crystal ball to know when this trend will end, so the time to move is NOW! Strick while the iron is hot! 

HOW TO REPAIR YOUR CREDIT
Take the steps to make bad credit repair a reality for you.
By John Adams
Homestore.com

Achieving bad credit repair--whether bad credit is the result of unpaid credit card balances, a home foreclosure or a bankruptcy filing--is not an easy task, but it is not impossible. Our free credit repair guides provide steps to make bad credit repair a reality for you. First, call your creditors, explain your situation and play "Let's Make A Deal."  

"Tell creditors that you are trying to clean up your credit and offer them a 30-percent settlement payment," said Debbi Chapman, a senior loan officer for FD Bankers in Hunt Valley, Md. "Try this first because most of them will take payments of 30 percent to 40 percent" of outstanding balances.  

Credit Repair--Partial Settlement Payment
If your creditors accept your offer to pay a portion of your debt, make sure you get the terms of the settlement in writing. And if the creditor refuses your offer, get that in writing as well. Once the settlement has been paid in full, your next step is to send the signed settlement letter(s) documenting your bad credir repair to the credit bureaus: Equifax, Trans Union and Experian/TRW. Each bureau should update your credit report to show that your settlement is paid.  

For entire article, go to www.wnbc.com 

FHA NEW MORTGAGE MAXIMUMS

Mortgage maximums as of Friday March 07, 2008
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY
Sorted by: County
State: NY
County: ORANGE
Limit Type: FHA Forward

The current basic standard mortgage limits for FHA insured loans are:
One-family Two-family Three-family Four-family
FHA Forward $271,050.00 $347,000.00 $419,400.00 $521,250.00
HECM $200,160.00
Fannie/Freddie $417,000.00 $533,850.00 $645,300.00 $801,950.00  

High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limits
The ceilings are currently:
One-family Two-family Three-family Four-family
FHA Forward $729,750.00 $934,200.00 $1,129,250.00 $1,403,400.00
HECM $362,790.00
Fannie/Freddie $729,750.00 $934,200.00 $1,129,250.00 $1,403,400.00