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la quinta loans: New FHA Guidelines; Bye-bye Flipping Rule - 02/11/10 08:27 AM
New FHA Guidelines;  Bye-bye Flipping Rule..Great summation of the new FHA guidelines courtesy of RealtyTrac.  Working with first time buyers and investors here in the Coachella Valley, both of these issues will be important in 2010.
Securing FHA-insured mortgages are attractive to borrowers because down payments are only 3.5 percent. Most conventional loans now require 20 percent down, keeping many creditworthy borrowers on the sidelines.
New Guidelines
The new rules - which are temporary and take effect this summer - come after more than a year of stringent standards from lenders. Among them:
Better Credit Score - New borrowers will have … (1 comments)

la quinta loans: Loan Modifications; Who REALLY wins? - 01/20/10 11:12 AM
Working with so many Sellers struggling with the issue of whether to Short Sale or Foreclose, the loan modification option always comes up.  I advise my Sellers to investigate what their Lender is offering in their Loan Modification vehicle.  If the Lenders agree to reset your mortgage based on current market value and forgive the difference, it would work!  Usually, I have found it to be something like this article...
Lenders in need have reacted unfavorably to homeowners in need. They have shown less courtesy and willingness to mediate than is warranted in these trying financial times considering the homeowner's option … (2 comments)