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piedmont: Restoring FHA Loan Limits in Piedmont - 11/17/11 07:22 PM
The House of Representatives today voted to restore higher loan limits to $729,750!! This is great news considering that the high limits returned to $625,500 in October.
 
Here is a brief excerpt of an article published today at Bloomberg.com “For all of the objections from Republican lawmakers and interest groups, the measure survived congressional negotiations on the strength of last month’s Senate vote in favor of an amendment to boost limits for FHA loans and those purchased by Fannie Mae and Freddie Mac. The increase for Fannie Mae and Freddie Mac loans was dropped during the talks, and today’s vote … (0 comments)

piedmont: HARP 2 Guidelines for Refinances Appraisals Waived Montclair Oakland Piedmont - 11/01/11 05:12 PM

Direct Link
http://www.youtube.com/user/RealEstateBuzzz?feature=mhsn#p/a/u/0/FQw1fPRZuLM
The big news this week is HARP.
THE Home Affordable Refinance Program has been “re stringed”
HARP was designed to assist distressed borrowers who are current on their mortgages but “underwater” meaning they owe more than their home is worth.
It’s no surprise several studies identified these borrowers as being likely to strategically default on or walk away from their homes and foreclose.
While regulations won't be finalized until November 15th the changes to “Harp 2” include -
•Removing the 125 percent loan-to-value. •Waiving risk-based fees on borrowers who take shorter term mortgages and reducing those fees … (0 comments)

 

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