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fha: FHA'S SHORT REFI PROGRAM FOR NEGATIVE EQUITY HOMEOWNERS - 08/17/10 11:33 PM
                                                                                                        
So FHA is boasting about launching it's new short refi program for underwater homeowners.  Woot, woot.  Have you actually LOOKED at their requirements?  It reminds me of the evil stepmother in Cinderella who tells the girl that she can go to the ball "IF" she can get an impossible amount of work done.  In other words, "NOT GOING TO HAPPEN!"
The U.S. Department of Housing and Urban Development (HUD) Mortgagee Letter 2010-23 lists the eligibility requirements for lenders and negative equity homeowners.  The first glaring issue is that the lender participation is "voluntary" and "requires the consent of lenders."  … (6 comments)

fha: Don't Panic Because of Short Sales! - 06/21/10 08:07 PM
When our clients have to do a short sale, we tell them not to hit the panic button! 
At Realty Partners, we have the expertise to help our clients get through a short sale as smoothly as possible.  Being certified Short Sale Specialists helps, as does our familiarity with Equator.com.  Our clients need expert guidance in order to get all their questions answered, so we work collaboratively with tax accountants, attorneys, bank, title, and escrow representatives, as well as other professionals in order to best serve our customers.  We've found some great alternatives that help our clients not to panic because of short sales!
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fha: FHA Tightens Requirements - 02/01/10 06:42 PM
According to CNN/Money, it’is going to be harder to get a government-backed mortgage from now on. The Federal Housing Administration, looking to shore up its weakening finances, has announced stricter standards. The agency, which insured nearly a third of new mortgages in 2009, will increase the premium it charges for its mortgage insurance and require those with weaker credit scores to come up with larger downpayments. The FHA will also reduce the amount of money a seller can provide a homebuyer for closing costs, as well as tighten its enforcement of lenders. "Striking the right balance between managing the FHA’s risk, … (0 comments)

 
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Michele Ashbarry

San Diego, CA

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Realty Partners

Address: San Diego, CA

Office Phone: (760) 440-9812

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