fha: $7500 To Pay Mom Back - 08/25/08 04:13 PM
Many first time homebuyers are looking at past generations for help coming up with a downpayment. FHA now requires a 3.5% downpayment (effective October 1, 2008) and the downpayment assistance programs (as of today) will disappear. Fortunately, FHA allows for gift money! The gift needs to come with a letter from the person … (9 comments)
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fha: When FHA Requires Cash Reserves - 08/25/08 03:41 PM
We all know that FHA is going to require 3.5% downpayment in a few weeks (October 1) - but did you know that in some circumstances they also require the borrower to have two months of cash reserves?
If a borrower is applying for FHA financing and is relying on a NTMCR, … (0 comments)
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fha: Spacious 1.5 Sty All Brick Home W/5 Bdrms! - 07/25/08 01:59 PM
FOR MORTGAGE INFO CONTACT STEVE THORNE AT 919-459-1313
FOR TITLE INFORMATION/QUOTE CALL KAETY AT 919-459-1332 … (0 comments)
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fha: NAHB Looking For Grassroots Effort - 06/17/08 08:36 AM
The National Association of Homebuilders believes we need an Emergency Stimulus Bill... afterall, housing starts are at the lowest since 1991 (and as Tanta notes "completions followed starts off the cliff...).
The package, according to NAHB needs to include a "temporary tax credit for HomeBuyers," and, in thier Online Newsletter, they urge all … (3 comments)
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fha: Compensating Factors and FHA - 06/10/08 07:25 PM
I was at a seminar today that reminded me of one of my favorite things about FHA...
the 5th C of Credit! We've all heard about the other 4 C's.
Cash: How much can you put into the property, how much have you saved?
Credit: Do you have a credit history? … (3 comments)
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fha: Lessons of Leadership - 05/20/08 12:37 PM
The Cary YMCA recently passed the baton from one group of leaders to another... the most interesting part was that these leaders were anywhere from 12 to 17 years old. The YMCA has a wonderful Leaders Club program for Middle and High School Students that creates interaction with over 75 students … (8 comments)
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fha: Commodities Market and Rates - 04/18/08 03:36 PM
I'm Still on the prowl for lower mortgage interest rates... If you've read this blog before, you know that I think George Soros is one of the smartest guys in the room. Goerge was back in the news today helping me understand what happened to rates this week!
According to Bloomburg, "Billionaire … (5 comments)
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fha: New Law Allows More Brokers To Close FHA Loans - 12/19/07 12:51 PM
Per conversations with members of Dole's staff - understand the following is accurate.
H.R. 1852 cleared House of Representatives mid-September. This legislation, loosely referred to as FHA Reform, is included in Dodd's Bill S.2338. Now that both the House and the Senate have FHA legislation, senior members of both the House and the … (8 comments)
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fha: Fed Guidelines on Subprime - 12/19/07 09:00 AM
Not everyone is happy about the apparent "light touch" the Fed had in issuing guidelines yesterday regarding SubPrime Mortgages...
… (2 comments)
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fha: Where's FHA when You Need It?!? - 10/31/07 10:38 AM
According to a recent report- The PMI companies will soon be dropping like MORTGAGE COMPANIES!
3Q Earnings: PMI's Outlook Unclear; Worst of 2/28 Resets OverAmerican Banker (10/31/07) P. 13; Terris, HarryFollowing the announcement of a $372 million third-quarter loss by rival MGIC Investment Corp. earlier this month, mortgage insurer PMI Group Inc. … (2 comments)
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fha: FHA and the PMI Companies - 10/24/07 01:40 PM
We have a shot, after many years of begging, to make some real advances in FHA REFORM, but we'll need the Senate and President's help. HR 1852 is currently sitting in the Senate Banking Committee, and according to my Senator ( Ms. Libby Dole who is on the committee) it might … (2 comments)
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