FHA Loan Advice

FHA Training announcement from HUD this morning: FHA training comes to Seattle: November 6, 2007 - Seattle, WA. 2007 FHA Program Update & HECM Training for FHA Mortgage Professionals. Come learn about FHASecure, FHA Modernization Bill Risk Based Premiums, FHA Lender Approvals, Pre-closing HECM, &...

Here’s a quick tip. If you are divorcing or already divorced, and the divorce decree requires that you remove your spouse from the loan on the property AND pay them their equity AND you’ve got a few credit problems, don’t panic. For an FHA refinance, this is still considered a rate/term refinance...

In part 1, we noted that many manufactured homes are purchased with loans which have terms that make refinancing an absolute necessity. Owner financing or bank financing with high rates and/or balloon notes need to be refinanced as quickly as possible. Let's now explore the qualification and proc...

I am normally a huge fan of the Competitive Enterprise Institute and everything they do to support the cause of freedom in the world. John Berlau, their director of the Center for Entrepreneurship has recently published a commentary which has made its way through the major papers and is available...

Every day for the last month, I’ve had people asking me when changes are going to be made to the FHA loan program. I’ve been trying urgently to get some more information. According to this column by nationally syndicated real estate columnist Kenneth Harney in Realty Times, we aren’t the only one...

I received a comment on one of my previous posts about the endangered non-profit assistance programs and FHA loans that mentions a trend I'm seeing in many solicitations lately.Here's the quote:"Earned Income DPA's are still alive and functioning and in fact are specifically approved in the new H...

More information about FHA financing is available at FHA Loan Advice.Purchasers of manufactured homes often use short term financing from a bank (for example, a five year balloon note) or short term, high interest rate owner financing to cover the cost of setting up their new home. Since each of ...

Just a quick note for agents/lenders. FHA has made a minor change in their Social Security Number verification process. Details are below this paragraph. At first glance this change doesn't seem significant at all, but note the sentences in bold. If you are in a hurry on a file there may now be a...

I got a very interesting fax this morning from the Futures Down Payment Assistance group. They quoted a press release from Oct. 1st from Reps. Maxine Waters, Gary Miller and Al Green (I thought he was a singer) chastising HUD for getting rid of the program and saying Congress was going to do some...

Attend a FREE teleconference/webinar on the FHASecure program by one of the leading FHA experts in the country, Chip Cummings!Over 3100 people registered for the training call on Monday and many couldn't get through, so there is going to be another call on Monday Oct. 8, 2007. I picked up a lot o...