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fha 203k: HUD Announces Changes in Anti-Flipping Rule - 01/18/10 03:10 PM
HUD announced Friday that the rules on flipping homes will be changing Feb. 1. This could have a huge effect on the Eugene/Springfield, Lane County Oregon market. This is being done in an effort to stabilize home values and improve conditions in communities where foreclosure activity is high according to HUD Secretary Shaun Donovan. I see this as being a boon to our are in getting rid of more of the foreclosures that have been plaguing our market. Under current rules, foreclosures that were still owned by the banks that purchased them could be bought with an FHA loan but any … (6 comments)
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fha 203k: $100 Down Program on HUD Foreclosure - Deschutes County - 03/06/09 04:52 PM
Do you want to buy a home with just a $100 down payment? HUD allows some of the homes that they have foreclosed to be purchase with an FHA loan with only a $100 down payment. Most HUD owned homes in Oregon, Washington, Idaho and Alaska are eligible for this program. This is a great way for a first time home buyer to get into a home with very little down and take advantage of the $8,000 first time home buyer tax credit too. Here is a list of the current Deschutes County foreclosures, according to the HUD website:
… (7 comments)
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fha 203k: Breaking News - New FHA Loan Limit - Lane County - $343,750 - 02/25/09 04:09 PM
Hud has raised the FHA loan limit for Lane County. There was no announcement or release that I am aware of. The new loan limit is the same as the temporary loan limit in place prior to Jan. 1 or $343,750. This is an increase of $72,700 over the minimum FHA loan limit that was in place for Lane County. This is a tremendous change in limit at a time that should be beneficial for moving some of the higher priced foreclosures off of the listing rolls. Combine the higher loan limit with an FHA 203k Streamline and the Energy Efficient … (21 comments)
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fha 203k: Buying a Foreclosure - Finding a Contractor - Part 3 - 02/12/09 04:17 PM
Part 3 in buying a foreclosure using the FHA 203k Streamline Rehab loan has to do with selecting a contractor. And, not just any contactor, but one that will do the job to your specifications in the length of time allowed. The 203k Streamline rehab loan only allows 90 days from closing until the repairs have to be done. Time is as important as price in this situation. You only need a single bid on an FHA 203k Streamline, so you will want to have confidence in your contractor.
The Streamline process does not require a general contractor, but may require … (4 comments)
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fha 203k: FHA Real Estate Loan definitions, changes and explanations - 08/21/08 03:27 PM
SO, WHAT'S NEW WITH FHA??
Say "good-bye" October 1st •• Seller funded D.P.A. (Down Payment Assistance)
•• Risk Based Premiums (Higher amounts for lower credit)
LOAN AMOUNTS!
•• Temporary loan limits in effect until 12/31/08 •• New loan limits 1/1/09 based on 115% of median sales price
•• Announced 4th Quarter (all we can do is guess right now)
•• New floor $271,050 will not change (Possible Lane County loan limit)
ALSO IN THE NEW YEAR
•• Borrower contribution 3.5% starting 1/1/09 •• Elimination of max LTV! (The 3.5% can all be closing costs)
•• FHA Condo Project Approvals performed by … (3 comments)
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fha 203k: Wonderful Panacea FHA Secure - 07/30/08 12:17 PM
I have been reading everything I can find about the new housing bill and trying to find out what everything means. How are we going to help all of these people that are upside down in their homes because of falling real estate values? How do we get them into so much better program because of unscrupulous lenders? How do we help them make their payments when they can't now because the rate just went up when their ARM reset? The answer seems to be FHA Secure. The end all, cure all of the Real Estate world. Tie it in with … (9 comments)
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fha 203k: FHA Training Class - 07/08/08 04:04 PM
FHA has changed. Have you kept up with the changes.
Estimates are that at least 70% of the sales in the coming year will be FHA financed. Do you know how to write the offer? Do you know how to advise your seller?
Alpine Mortgage Planning has positioned itself to be a major player in the FHA housing boom. Do you want to come along?
We will be conducting classes in FHA financing July 24 at 10 a.m. and 2:30 p.m. The class is one hour and training certificates will be awarded. They will be held in Alpine's Conference … (3 comments)
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fha 203k: FHA Mortgage Insurance changes - 07/01/08 05:24 PM
Effective this month, FHA mortgage insurance becomes risk based. There are changes to both the upfront mortgage insurance premium (UFMIP) and the yearly (paid monthly) premium. That means that the higher the loan to value and the lower the credit the higher the premium is. At the same time, the lower the loan to value and the higher the credit score, the lower the premium.
Best deal is a credit score of over 640 and a loan to value of 95% or less. The new UFMIP is lower than before at 1.25%. The yearly stays the same at .5%. It can … (0 comments)
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Fred Chamberlin - Oak Harbor/Whidbey's #1 Experienced FHA Mortgage Consultant
Oak Harbor,
WA
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Guild Mortgage Co - Oak Harbor WA
Address: 32785 State Route 20, Suite 5, oak Harbor, wa, 98277
Office Phone: (360) 675-6106
Cell Phone: (541) 221-3455
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