Condo FHA changes date MOVED AGAIN... DEC 7th - 10/22/09 02:40 PM
Condos in Trouble
FHA has just issued new condo guidelines that will become effective on October 1, 2009.  If you currently either have buyers interested in purchasing condos or clients looking to sell their condo you need to know the facts below: 
As of right now, after December 7th now... FHA is voiding all condo project approvals that were done BEFORE October 1, 2008  This means FHA loans will not be able to be done in an ineligible project until it is Re-approved which will be a difficult and lengthy procedure  A project approval will cost $1,500 and up and FHA is now … (0 comments)

Mortgage update - 10/13/09 06:59 PM
Highlights of the Day and other info:
- Bond Market Highlight - FHA HVCC implemenatation - Tax credit extended for Active Military - Fannie and Freddie cutting debt to income allowances impacting government loans as well - Buyers Choice Act
Bond Market Highlights:
Stocks closed last week at their highest level since October 2008. Mortgage Bonds, on the other hand, were unable to close above resistance and were ultimately pushed lower. As we head into this week, two important news items are worth repeating... and worth sharing with your database.
First -  as we explained in last Friday's Market Update, the … (0 comments)