Texas Home Buyer Assistance Programs For First Time Home Buyers.

By Troy Corman, t2realestate.com

Although the federal tax credit and first time home buyer assistance program has expired, many home buyers are unaware of the Texas home buyer assistance programs that are still available in many Texas cities and municipalities. The assistance can provide actual cash infusions to help pay down payment costs, or provide below-market interest rates. Eligibility requirements are based on household income and other household information. Visit the web site TxHomePrograms.org to find Dallas-Fort Worth cities providing home buyer assistance.

Lenders Expect To Sue Foreclosure Home Owners In Next 2 Years.

RealtorMag article summarized by Troy Corman

Industry experts expect a wave of lawsuits in the next two years as lenders try to recoup losses from home owners who merely walk away from their mortgages. Also, those that damage homes and face foreclosure can also expect to be targets of lender lawsuits. The suits will most likely discourage future home owners from throwing in the towel. Also, as the taxpaying public grows tired of government bailouts and handouts, it's unlikely that politicians can implement crony capitalism much longer - as natural market forces are best equipped to return us to a healthy economy.

As foreclosure delinquency rates remain elevated, lenders are expected to work with homeowners who negotiate in good faith, while others can expect to face collection agencies who purchase the mortgage debt from the lender.

Open House Saturday and Sunday 2-4 - Ridgewood Park 3BR Home For $219K.

This home features 3 bedrooms, a 2-car garage, wood-burning fireplace, and hardwoods throughout - except for wet areas. Vintage tile and a huge back yard deck along with lush landscaping add to the charm. Less than 2 miles to White Rock Lake and close to virtually everything. Take a no-obligation closer look this weekend either Saturday or Sunday from 2 to 4 - yes, that's PM. Home is hosted by Troy Corman, t2realestate.com

View more photos at t2realestate.com

15-Year Mortgage Rate at 4.07% According To Real Estate Site, Zillow.

By Troy Corman, t2realestate.com

According to the zillow mortgage rate calculator, the 15-year fixed mortgage rate is at 4.07%. The 30-year is at a near all-time low of 4.56%. The fixed rates correspond to the 10-year treasury bond, which continues to decline as investors continue to flock to safety amid the global uncertainties. Will the 15-year break below the 4% level? We'll be keeping an eye on it as rates are flirting with breaking historic all-time lows.

Home Buyer Tax Credit Extended For U.S. Military.

By Troy Corman, www.t2realestate.com

I think Memorial Day weekend is a great time to announce that the U.S. government home buyer tax refund has been extended through 2011 for qualifying members of the United States military. If anyone deserves an $8,000 tax credit, it's definitely these brave men and women who put their lives on the line to fight for our freedom.

To qualify, military personnel must have served at least 90 days (official extended duty) outside of the United States between December 31, 2008 and May 1, 2010. "Qualifying service members" eligible for the tax credit include members of the military, members of the Foreign Service of the U.S., and members of the intelligence departments.

A person who is forced to return to the U.S. prior to 90 days of service due to medical reasons also qualifies. To qualify for this extended military tax credit, an executed contract must be in place by April 30, 2011 and the transaction must close by June 30, 2011.

To honor the service men and women, t2 Real Estate is offering an additional  $1,000 closing cost credit so please tell your family members and friends in the military. And please remember what Memorial Day is really about.

30-Year Fixed Mortgage Rate Below 5% - But Experts Expect It To Rise.

Realtor.org Story Summarized By Troy Corman, t2realestate.com

The Greek and European debt crisis helped drive down mortgage rates in the U.S. In fact, rates are near record lows. But according to Stephen Stanley, chief economist for Pierpoint Securities LLC, an improving economy will force government leaders to raise interest rates.

Telltale signs continue to point to an improving economy. Both American Express and Target reported fewer credit delinquencies as Target reported it's lowest delinquency rate in 2 years, while American Express delinquencies declined 34% from last year.

As you can see from the chart above, rates are about as low as they've ever been. A 30-year mortgage for $250,000 at 5% equates to a monthly payment of $1,342 while a 6% rate results in a monthly payment of $1,498, or an additional  cost of $156 month. Over 30 years, that 1% mortgage rate increase results in an additional cost of $56,456 in interest payments.

Visit Homepath.com to shop Dallas-Fort Worth foreclosures and get special financing for both owner-occupants and investors.

Fannie Mae provides a search site for homes pre-qualified for their Homepath Mortgage and possible financing of the renovations for owner-occupants and real estate investors. Here are some of the highlights:

• Low interest rates for fixed-rate, adjustable-rate, and interest only loans.
• 3% down payment, and can be borrowed money.
• No appraisal fees.
• No mortgage insurance (higher rates).
• Companion Homestyle Renovation Mortgage product for investors.

Start searching Dallas-Fort Worth area foreclosures now at Homepath.com. Troy Corman, a Dallas realtor and investor, who has bought and rehabbed numerous Dallas foreclosures, can help you avoid mistakes.