Here’s a round-up of some interesting mortgage and financing stories that have crossed my desk:

This one by a local loan officer gives you a rather technical view of the impact on Las Vegas real estate from a particular kind of mortgage, the Option ARM. He’s an expert in this, so even if you find it tough reading, it’s worth your time.

This insightful commentary talks about predatory lending and mortgage modifications. In short, there are a number of reasons banks have not exactly been enthusiastic about getting Joe and Jane Average a lower payment!

FHA loans are now one of the most popular ways to get financed. But did you know that nationwide there are only 172 people who can give the final approval? What I take away from this is ask for a 45 day closing on FHA transactions, and think twice before buying a foreclosure with one! By the way, FHA is asking Congress for tougher standards, bigger downpayments, and bigger mortgage insurance fees. No word on whether they are asking for more staff.

One more thing, the Treasury Department did issue new guidelines on short sales this week. To learn more, check out my article on The Moderate Voice. There is a link to the actual rules near the end.

Be sure to join me on Friday for the latest Vegas real estate market data!