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	<title>Patrick Chang</title>
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	<link>http://patchang.com</link>
	<description>HomeSmart Real Estate</description>
	<lastBuildDate>Wed, 05 May 2010 00:02:13 +0000</lastBuildDate>
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		<title>How Much Does a Short Sales &amp; Foreclosures Effect Your Credit Score.</title>
		<link>http://patchang.com/mortgage-corner/shoshort-sales-foreclosures-effect-your-credit-score/</link>
		<comments>http://patchang.com/mortgage-corner/shoshort-sales-foreclosures-effect-your-credit-score/#comments</comments>
		<pubDate>Tue, 04 May 2010 23:50:58 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=873</guid>
		<description><![CDATA[Missing mortgage payments will hurt your credit score, that is a given. However, as the number of short sales and foreclosures has increased over the past few years, the question has been just how much missing payments on your mortgage affects your credit score.

In a recent report from Fair Isaac, the company that developed FICO [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>April Interest Rates Remain Low</title>
		<link>http://patchang.com/mortgage-corner/april-interest-rates-remain-low/</link>
		<comments>http://patchang.com/mortgage-corner/april-interest-rates-remain-low/#comments</comments>
		<pubDate>Thu, 29 Apr 2010 22:00:54 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=869</guid>
		<description><![CDATA[Interest rates have remained low even after the Fed ended its Mortgage Backed Securities (referred to as MBS) purchase program on March 31, 2010.  In a knee jerk reaction, interest rates initially increased by roughly .25% in early April but they have now settled back down to the nice, low levels of the past [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>FHA Loans May Be Getting More Expensive For Borrowers</title>
		<link>http://patchang.com/mortgage-corner/fha-loans-may-be-getting-more-expensive-for-borrowers/</link>
		<comments>http://patchang.com/mortgage-corner/fha-loans-may-be-getting-more-expensive-for-borrowers/#comments</comments>
		<pubDate>Wed, 16 Dec 2009 04:02:05 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=862</guid>
		<description><![CDATA[Housing and Urban Development Secretary Shaun Donovan spoke in Washington on changes on the horizon for FHA Home Loans, which HUD has authority over. While no official changes have been announced, Mr. Donovan&#8217;s testimony in front of the House Financial Services Committee indicated that the cost for borrowers will increase with borrowers having to put [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>$8000 First time Buyer and $6500 &#8220;Move-up-Buyer&#8221; Tax Credit.</title>
		<link>http://patchang.com/mortgage-corner/update-on-tax-credit/</link>
		<comments>http://patchang.com/mortgage-corner/update-on-tax-credit/#comments</comments>
		<pubDate>Sun, 08 Nov 2009 16:22:03 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=805</guid>
		<description><![CDATA[Updated information on tax credit extension until June 30, 2010
It is now official – the first time buyer tax credit extension has been signed into law.  The $8000 First Time HomeBuyer Tax Credit has been extended for buyers to secure an accepted purchase contract by April 30, 2010 and then close on that contract [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>620 fico score is now required for FHA, VA and Conventional loans</title>
		<link>http://patchang.com/mortgage-corner/620-fico-score-is-now-required-for-fha-va-and-conventional-loans/</link>
		<comments>http://patchang.com/mortgage-corner/620-fico-score-is-now-required-for-fha-va-and-conventional-loans/#comments</comments>
		<pubDate>Sat, 18 Apr 2009 00:15:52 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=781</guid>
		<description><![CDATA[For the most part, a 620 fico score is now required for FHA, VA and Conventional loans.  If a borrower is trying to raise their score to this level, here are some pointers.  It is very difficult to erase or change the old, bad, credit history unless it is false.  Therefore, they [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>More Details on $8,000 tax Credit</title>
		<link>http://patchang.com/mortgage-corner/more-details-on-8000-tax-credit/</link>
		<comments>http://patchang.com/mortgage-corner/more-details-on-8000-tax-credit/#comments</comments>
		<pubDate>Fri, 06 Mar 2009 19:50:17 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=759</guid>
		<description><![CDATA[Updated information on tax credit extension until June 30, 2010
Details of the first time home buyer tax credit have been released.  This is probably the most positive piece of news in our industry in years!!!  Here are the highlights:

 The Tax Credit is the lesser of 10% of the purchase price or $8000
The [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>FHA Loan Limits Increased</title>
		<link>http://patchang.com/mortgage-corner/fha-loan-limits-increased/</link>
		<comments>http://patchang.com/mortgage-corner/fha-loan-limits-increased/#comments</comments>
		<pubDate>Wed, 25 Feb 2009 17:54:16 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=674</guid>
		<description><![CDATA[In understanding the local economy and homebuyers needs CFS is increasing their FHA loan limits today February 25, 2009.
Maricopa County, AZ loan limits:
•	Old &#8211; $271,050
•	New &#8211; $346,250
Keep in mind FHA loans only require 3.5% down payment and this down payment can be gifted by family members.
]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>New Loan Limits for Investors and Second Home Borrowers</title>
		<link>http://patchang.com/mortgage-corner/new-loan-limits-for-investors-and-second-home-borrowers/</link>
		<comments>http://patchang.com/mortgage-corner/new-loan-limits-for-investors-and-second-home-borrowers/#comments</comments>
		<pubDate>Wed, 25 Feb 2009 03:10:28 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>
		<category><![CDATA[Fannie Mae]]></category>
		<category><![CDATA[Second Homes]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=671</guid>
		<description><![CDATA[Fannie Raises Limit on Investor and Second Home Borrowers from 4 to 10 Financed Properties
At the urging of NAR, Fannie Mae announced a new policy on February 6, 2009, to allow investors and second home buyers to own up to 10 financed properties. The new policy takes effect on March 1, 2009, and replaces the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Housing Plan: Government Plan Will Help Some, Not All</title>
		<link>http://patchang.com/mortgage-corner/housing-plan-government-plan-will-help-some-not-all/</link>
		<comments>http://patchang.com/mortgage-corner/housing-plan-government-plan-will-help-some-not-all/#comments</comments>
		<pubDate>Tue, 24 Feb 2009 16:01:05 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=655</guid>
		<description><![CDATA[Last week President Obama unveiled a housing plan, that is suppoed to target up to 9 million borrowers, here is some of what we know is on the table and who it will help.
The new $75 billion plan basically has to two basic solutions:
First, the government is aiming to help more homeowners refinance to take [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>HOME BUYER TAX CREDIT</title>
		<link>http://patchang.com/mortgage-corner/home-buyer-tax-credit/</link>
		<comments>http://patchang.com/mortgage-corner/home-buyer-tax-credit/#comments</comments>
		<pubDate>Wed, 18 Feb 2009 06:39:11 +0000</pubDate>
		<dc:creator>Local Lenders</dc:creator>
				<category><![CDATA[Mortgage Corner]]></category>

		<guid isPermaLink="false">http://patchang.com/?p=558</guid>
		<description><![CDATA[After debate over the final dollar amount, the new economic stimulus bill awaiting President Obama&#8217;s signature on Tuesday will contain an $8,000 tax credit. First-time buyers can claim the credit worth $8,000 or 10% of the home&#8217;s value, whichever is less either on their 2008 or 2009 taxes.
This credit will be refundable, meaning tax filers [...]]]></description>
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		<slash:comments>0</slash:comments>
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