fha: FHA Spots Fraud: Mortgagee Letter 2008-25 - 09/23/08 01:26 PM
Thanks to all of the fraudalent activity by consumers who have decided to walk away from their highly leveraged homes then purchase a new home using an FHA loan, HUD has changed their underwriting guidelines regarding rental income for recently vacated properties. Basically, HUD will not consider using rental income from … (5 comments)
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fha: Short Refi's: The Next Trend? - 09/11/08 02:09 PM
Part of The $300 billion Housing and Economic Recovery Act of 2008 is a program designed to help consumers refinance their home loans into cheaper, government insured loan programs. To qualify for the program, borrowers need to show a hardship(31% or more of their gross monthly income going towards mortgage payments) … (0 comments)
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fha: $7500 Tax Credit: Who is Eligible? - 09/04/08 03:14 PM
The website www.federalhousingtaxcredit.com has some excellent and concise information on who qualifies for The Housing Assistance Act of 2008's $7500 tax credit. It also should be noted that the tax credit is essentially a $7500 interest-free loan that is to be repaid over 15 years.
There are 3 basic criteria that … (5 comments)
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fha: My 100th Blog Post - 08/05/08 11:15 PM
This is my 100th blog post, and to celebrate I customized my background using the activerain customizer. It was really easy and the site is located here http://www.activeraincustomizer.com/ , or simply click on the icon listed just below my picture and links. Check it out if you haven't already.
Next, I think … (15 comments)
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fha: Your Credit Rating: a Few Tips For Those Who Pay Their Bills On Time - 08/04/08 10:41 AM
With Fannie Mae implementing risk based credit scoring adjustments that have an effect on borrowers with as high as a 719 credit score, it is important for borrowers to know what impacts a credit score outside of a clean pay history. In the "old" days, if someone had no late … (13 comments)
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fha: Senior Lending: Reverse Mortgages-The Basics - 08/01/08 12:38 PM
If you are 62 or older and own your own home, you may qualify to continue to live in the comfort of that home and while receiving monthly cash advances and long term financial security. A Home Equity Conversion Mortgage gives you a simple way to unlock the equity in your … (0 comments)
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fha: Buying Backlinks: Is it Worth it? - 07/28/08 08:40 AM
I currently have some links that have underperformed on my website in my opinion. I have received some solicitations for purchasing one way backlinks to improve the ranking of some of my links. The links in question are pretty basic: FHA Loans , FHA or VA Loans for First Time Buyer , FHA Refi ,FHA … (7 comments)
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fha: 100% Financing Available in Warren County, NJ through the USDA Loan - 07/24/08 11:56 AM
Despite the contaction of the secondary market, there are still some great loan programs available to qualified applicants with moderate indome. One of these such programs is the USDA loan. As I had written previously in this blog: Need 100% Financing? Try the USDA Guaranteed Rural Housing Loan Program the USDA … (0 comments)
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fha: Got RD Loans? 100% Financing Available in Salem County, NJ - 07/23/08 11:46 AM
As I had written previously in this blog: Need 100% Financing? Try the USDA Guaranteed Rural Housing Loan Program the USDA program is a great loan for rural and even some not-so-rural areas that qualify for the USDA program. South Jersey still has many areas that qualify for the RD Loan.
… (2 comments)
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fha: Pittsburgh: Old and New Haunts - 07/20/08 05:08 PM
My catholic grade school...
Has undergone some changes.
PNC Ballpark.
Pittsburgh Skyline.
On a recent trip through Pittsburgh, PA., my wife took some pictures of the local catholic Grade School I attended in the 1970's. The irony is that the Gothic Style School/Church has been converted to a Jewish … (0 comments)
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fha: Edited - 05/27/08 10:01 AM
Edited: Call Michael Byrne with questions at 800-999-2489 x7972 or mbyrne@gfhomeloans.com email.
… (3 comments)
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fha: Fannie Mae, Freddie Mac, and FHA To Raise Loan Limits - 01/24/08 05:11 PM
Apparently Fannie Mae and Freddie Mac are raising their loan limit shortly to as much as $725,000 and The Federal Housing Administration is going to raise their single family limit to $417,000. As much as I am in favor of markets correcting themselves, this is great news for those with a … (14 comments)
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fha: FHA Secure Product Now Available to the Public! - 10/26/07 08:51 AM
The Federal Housing Authority is not known for making changes quickly. However, in the case of the FHA Secure product, HUD has acted quickly to bring the FHA Secure product to market. Many times programs and products are announced and then there is a huge lag time before consumers can … (0 comments)
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fha: FHA Refinancing: Programs available other than FHA Secure - 10/20/07 09:44 PM
With all of the talk lately about the new FHA Secure program, I just thought I would go over some of my favorite points about the pre-FHA Secure FHA Refinancing programs. There are many benefits for the consumer and even a few things that could help a real estate agent sell … (9 comments)
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fha: FHA reforms? Commentary on a recent article. - 10/16/07 01:33 PM
An article in CNNMoney by Jeanne Sahadi written Here makes several points about the changes in the mortgage industry, with most of the changes being a back to basics approach for mortgage lending with fewer piggyback seconds and an increased emphasis on FHA Lending. The article also points out … (5 comments)
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fha: Treasury Secretary Paulson Weighs in on Mortgage Woes - 10/16/07 11:56 AM
In this recent article in CNN Money: CNNMoney Hank Paulson Article , Treasury Secretary Hank Paulson stated he has no intention in bailing out lenders or speculators who have fallen on tough times due to recent real estate declines. He stated only 50% of past due borrowers ever contact their … (4 comments)
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fha: Bush Announces FHA's "FHASecure" Program to Benefit Subprime ARM Clients - 09/06/07 12:46 PM
According to the BrokerUniverse Newsletter for 9/6/2007, the Federal Housing Administration is going to unveil in a few days a new program that is designed to help borrowers who are facing loan default due to subprime adjustable rate mortgage resets. This new program, according to the article, is made for consumers who were … (2 comments)
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fha: When a Loan Officer Steers a Client, Check Under the Hood - 07/12/07 10:07 AM
In today's market, it is not uncommon for a buyer meet with several lenders to find the best program available to them. With first-time homebuyers there are Bond Money Programs, CRA Loans, FHA Loans, VA Loans as well as Fannie Mae's MyCommunity Programs. I have pre-qualified customers and recommended a … (4 comments)
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fha: FHA Financing on Manufactured Homes - 05/13/07 02:20 PM
The secondary mortgage market's appetite for manufactured housing(mobile home) financing has declined recently to say the least. If you are marketing a manufactured home or looking to purchase one, keep in mind that FHA still allows for single, double, and triplewide financing on manufactured homes given they meet FHA's criteria. … (5 comments)
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fha: 10 Benefits of FHA Financing - 05/11/07 09:25 AM
Here are 10 ways FHA financing can help you qualify to purchase or refinance a home, or ways you can utilize FHA to help someone buy a home:
1. 3% Down Payment with seller concession available for purchases of up to 4 unit properties.
2. 3% Down payment can be from a gift … (8 comments)
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fha: H&R Block Mortgage closing offices - 04/02/07 11:55 AM
As reported on www.lenderimplode.com , H&R Block is quickly exiting the mortgage business altogether. Apparently they have recently laid off 141 people and are effectively just closing out their current loan pipeline. This is primarily relevant as H&R Block currently owns Option One Mortgage and is trying to sell it. If … (5 comments)
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fha: FHA to the rescue? - 03/17/07 06:25 PM
In recent years, FHA loans have had a decreasing market share for a variety of reasons. Loan limits, down payment requirements, repair requirements, as well as the rising popularity of neg am loans and interest only options have contributed to a lack of FHA loans. With subprime securitizations taking a huge hit … (13 comments)
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