We are weeks away from Christmas. I you are like me, I am thinking more about having enough money for Christmas than what is happen with mortgage. However,  for those who are still looking to buy a new home there is a few update I want to share with you.

Considering everything that has happen in the past few years. Loans given out to people who should not of have gotten. Other folks who found themselves out of work facing foreclosure. Banks and loan institutions have tighten what qualifies for a home loan.

Craig Ballhagen over at MyFirstBoiseHome.com wrote on his blog about how Idaho mortgage guidelines are constantly changing.  It is very important for future home buyers to take the time to be informed.

When will people learn?  Home buyers are still attempting NOT to use a professional Realtor and home inspector.  What are they thinking?

Using these professional services will save you much more money then trying to go it alone.  The stories about home buyers not using a home inspector are endless.  How much is a home inspection these days?  $250. – $500?

Recently a friend of mine took the sellers word that the property was in great shape and there is not water in the crawl space.   Guess what, there was water in the crawl space and the repair cost was well over $3500.00.  So much for saving a buck.  In the real estate world, these instances are for too numerous.

When it comes to buying a home in today’s current economy we need all the help we can get. This is especially true first time home buyer. Whenever, I meet with my good friend Craig Ballhagen, I am amazed at his insight. Below is a reprint from his blog, MyFristBoiseHome.com. I truly believe reading will give you some tip that will save you money and frustration when you go to buy a home.

Boise’s next generation of first time home buyers must step up and take control of their home loan process and take responsibility for the documents they are signing.  Remember you are borrowing hundred’s of thousands of dollars and required to pay it all back.

Once again, how much is enough? How much square footage does a person REALLY need?  How many rooms in a house are full of “stuff?”

Guild Mortgage of Boise Idaho announces “Home Path”.   Another great Boise home loan financing program.

Home Path targets Fannie Mae (FNMA) REO properties.   It allows Idaho home buyers a great opportunity to purchase the home of their dreams.   A few of the high lights are

• Only 3% down payment which can be gifted or granted
• NO Mortgage Insurance is required-this part is great!  Mortgage insurance usually runs from $50-$200 per month.
• NO Appraisal-the purchase price will be determined by the real estate contract that is negotiated between the buyer and the FNMA representative.
• Only 10% down for an investment properties with 1 to 2 units. Again no MI!
• 30 year fixed financing
• Credit Score needs to be above 660

Here is the link to check to see if a property qualifies.  www.HomePath.com

Guild Mortgage – Boise Home loans – Craig Ballhagen                    208-713-3309

“How can you have any pudding if you don’t eat yer’ meat?” (Pink Floyd).   It seems, these days, most people don’t want to eat their meat and just go straight for the pudding.  Everybody wants a “short cut” and nobody is willing to put in the time and sacrifice.  From dieting to spending habits, quick fixes are not the answer.

We continue to eat anything and everything, and at the end of the day, take a “pill” and do it all over again tomorrow.  This strategy will never work in the long run.  The only weight loss solution is to EAT LESS FOOD.  This is much too simple for some and they think that their situations are “different” and their problems are much more complex; hence the reason for the “Magic Pill” or gimmick.   True weight loss is a change of lifestyle (sacrifice).  Most refuse to make the change and will continue to go down the same destructive path—year in and year out.

Welcome Facebook and  Twitter members! I am compiling a list of  Treasure Valley social net workers who are marketers and/or business owners and believe the power of groups and the excitement of social networking.  Please let me know if you would like to be added or have associates that would be a good fit. No Cost-just networking.  This post will be on my sidebar of my blog and will be continuously updated.

Is there is any correlation between the percent of people who are late on their mortgage payments and the amount of calories consumed?
When a homeowner has problems making their mortgage payment at the end of a month, how short are they? Do they not have any money for the payment? Or is the struggling homeowner coming up just a few hundred short. With a mortgage payment of $1000, for example, that might only be $100-300.

If every month a consumer’s budget keeps coming up short, it is time a look at where the money is going.

One of the areas to look could be the monthly cost of food. Do you REALLY know how much of your paycheck is going into the fridge and eventually the mouth?