fha: Short sale scams - Grumpy Old Man's View - 03/22/10 10:24 AM
SHORT SALE SCAMS AND
THE "FREE ENTERPRISE SYSTEM"
 
I'm not really a "grumpy old man".  I love puppies, nice sunny days, being alive - being alive, good friends, etc. but sometimes I can't help myself - I hate seeing people in distress get ripped off.  And yeah, I know, Amy might have a different opinion on the G.O.M. deal J
 
Attached below is a notification from our ‘mother-ship' company, Universal Lending.  It's fairly innocuous in what it states - that even though FHA will grant waivers to its 90 day ownership anti-flipping rule, investors won't buy loans made to … (1 comments)

fha: FHA 203K Rehab loan - 10/15/08 06:37 AM
With the growing number of distressed and foreclosure properties, I am happy to report we have a program suited for such properties.  It's called the FHA 203K rehabilitation program.  Your clients can use it for just a slight remodel, or a full-blown rehab.  You can read more about the program on www.hud.gov - or contact me directly and I will email you the information.
Happy Selling!
 
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fha: FHA - 10/14/08 05:47 AM
 
I know there's a lot of confusion and smoke out there regarding this practice, so thought this recent letter from FHA might give you some of the background.  Some brokers "back-door broker" fha loans to approved companies.  That's wrong.  The only crack to legally squeeze through is to act as the borrower's agent and get paid separately by the borrower but not do any of the origination work; which almost always adds to the borrowers' costs since the real fha lender must now pay their loan officer who actually originates the loan.
 
There's a list of bullet points, about … (1 comments)

 

Amy L. Cavender

Colorado Springs, CO

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Alterra Home Loans

Office: 702-588-5430

Mobile: (719) 321-4575



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