Well, hello again, it’s Bruce Woodburn, with CrossCountry Mortgage and WDBO radio. It’s time for the three big things you need to know. You know, as always, I always like to keep my clients, my real estate agents and builder partners informed about what’s going on in the market that can affect you. I’ve got some really big things that I want to share with you today. You know, oftentimes there’s such negative news going on and it just drives me crazy. But I always want to be real with clients, whether it’s good, bad or ugly. So here’s three big things that we’re going to talk about today.

1. First of all, we got a wonderful gift from HUD/FHA. Any buyers that want to get a loan and need to use FHA guidelines for 3.5% down payment, up until now, if you had any student loans, the lender was required to use 1% as a payment no matter what, even if you were on an income based repayment program 1%. So if you owed $50,000 it was a $500 a month payment. And that just disqualified a lot of folks that really wanted an FHA Loan. Guess what? Now it’s Half a percent. So that qualification just got way better for you. So if you owe $50,000 it’s a $250 payment now instead of a $500 payment, if you owe $100,000 it’s a $500 payment instead of $1000. Really good news, Really good news. Okay so if you have clients out there that may have not qualified for a high debt ratio or if that’s you then call me. Let’s requalify you based on the new guidelines.
2. Now here’s another thing. Up until now on a conventional loan, if you had an IRS Repayment plan, meaning that you were past due on IRS Debt from from past tax returns and you were making payments, FHA didn’t have a problem with the payment plan, VA didn’t have a problem with a payment plan, but conventional loans had a big problem with payment plans. They would not do them. Now, they’ve changed their mind. If you are in an IRS Repayment plan that is a legitimate plan and you can prove it and you’ve documented it, then I can use the payment that you’re making to the IRS as a payment plan. You should be taking the amount and dividing it by 72 that should be about your payment on that. If you have any questions you can always call me here at the office or visit my website at WeBringYouHome.com. You’ll want to talk to one of my professionals or me at any time.
3. The third big thing you need to know, this is a big deal. It’s been all over Facebook, it’s all on the twitter and I’m getting all kinds of comments on it. Now listen, I never want to negatively affect anyone, no matter what. No matter what, I don’t want to negatively affect anybody. But I had an experience at Hillstone Restaurant in Winter Park and it was not a good experience. I was with one of my trusted business partners Chelsea Herring, who owns Magnolia title, we were at lunch at Hillstone and there was an incident that happened, but I don’t want to talk about it on this. I do think you should go to my Facebook page and check it out. But there was a huge incident regarding takeout salad. So if you’re interested in seeing what happened, I’m gonna tell you something. I didn’t get arrested, but I came really close to it. Okay. You can check it out on Facebook and then let me know what you think about that. There’s not more to the story. It’s not a really exciting story, but I think it got a lot of attention. So check out Facebook and, go to my Facebook page. I don’t even know how you do that. It’s attached to this video email. You can do it that way. You guys have a great weekend.

Those are the three big things you need to know, Super excited about helping you guys. It’s a great market and I’m dying to help you when you’re ready to buy a house or refinance the house. If you need any help, it has to do with the real estate, you call me. I’ll make sure we get you the right answer. Have a great weekend and we got 4th of July coming up. It’s going to be big!