Tucson Loans and Tucson Mortgages are available for home buyers who have found the perfect Tucson Real Estate but, the home needs some work. Have you ever thought "I love this house, but...."?

The good news is that there is are little known Tucson Mortgages and Tucson Loans available from HUD that are not well publicized and can help you buy that slightly unsightly house. And turn it into your dream home. Best of all with just ONE Tucson Mortgage Loan. It's the FHA 203K Streamline.

Read more on the FHA 203K Streamline Loan for Arizona.

Paul Dunn
FHA Tucson Loans and Tucson Mortgages
Arizona USDA Rural Home Loans

The USDA Rural Home Loan doesn't have a specific credit score requirement.  However the majority of USDA Rural Home Loan investors do have a minimum of 620.  In addition, if you have a credit score above 620 the USDA Rural Home Loan will be a little less stringent on you in regards to past credit issues.

To read about USDA Rural Home Loan credit score requirements, go to http://usdaruralhomeloans.com

Apply for a USDA Rural Home Loan now!

Paul Dunn
FHA Tucson Loans and Tucson Mortgages
Arizona USDA Rural Home Loans

When it comes to an FHA Short Refinance I get about 5 questions on a regular basis:

1)  What is an FHA Short Refinance

2)  How do YOU get paid on an FHA Short Refinance

3)  What if an FHA Short Refinance Does Not Work

4)  How long does an FHA Short Refinance take

5)  Can I do an FHA Short Refinance on an investment property

6)  How do I get started on an FHA Short Refinance

For the answers, read my recent post on Tucson Loans and Tucson Mortgages web.

Paul Dunn
FHA Tucson Loans and FHA Tucson Mortgages
Arizona USDA Rural Home Loans

I heard on the radio the other day that banks just aren't lending money anymore.  The fact it that there are Tucson Loans going on right now and the opportunity to buy, especially for the first time home buyer, has never been better.

Loans were available to just about anybody, their mom, the family dog, etc.

Now getting Tucson Loans requires you to, well, qualify.

Just a rant, and to let you know that Tucson Loans are still available.

Paul Dunn
The Tucson Financing Specialist
100% Financing For Rural Homes

When you owe more than your home is worth and you need an FHA Secure Short Refinance, there are typically three outcomes.  Your FHA Secure Short Refinance options will depend upon the negotiations with your current mortgage lender.

1. Short Refinance Write Down - This is the option of preference.  The existing lender simply writes off the amount that can be refinanced into the FHA Secure Short Refinance.
2. FHA Secure Refinance with subordinate financing - In many cases the existing lender will accept a secondary lien in the amount that the payoff is short. 
   
3. FHA Secure Short Refinance with a partial unsecured loan - In some cases the existing lender will write off a majority of the existing loan and allow for the creation of an unsecured loan of a portion of the amount that cannot be covered by the new FHA Secure Short Refinance loan.  An example of this may be that the new FHA Secure Short Refinance loan can cover all but $45,000 and the existing lender agrees to write off $38,000.  They may allow for an unsecured low or zero rate loan to cover the final $7,000 in an effort to make the transaction work.

Apply for an FHA Secure Short Refinance today.

Paul Dunn
Arizona FHA Mortgage Loans
Arizona USDA Rural Home Loans

It looks like the Feds are in the process of creating a company to buy unwanted assets of financial institutions.  The Feds have done this before; back in the 1930s they created the Home Owners Loan Corp to issue bonds to refinance people and the Resolution Trust Corp to sell off failed bank assets.

An article in CNNMoney states that if they were to create such a corporation it would buy unwatned mortgage backed security assets from financial institutions in an auction format.  Basically the company willing to sell at the lowest price to the new corporation would win the auction and rid themselves of the bad mortgages.

If this were to happen the new government corporation could then resell those assets back to the market when it wanted to.  They would also open options for those borrowers whose mortgage loans it does hold to refinance into a lower risk government insured mortgage, possibly an FHA Refinance.

What do you think about this?

Paul Dunn
Arizona FHA Mortgage Loans
Arizona USDA Rural Development Home Loans

I've been getting a lot of calls about how to do a Short Refinance.  One of the most important things a homeowner must do in order to increase the odds of success for a Short Refinance is to complete a monthly budget worksheet.

The montly budget worksheet will be provided to the current lender in the short payoff offer package and to successfully obtain a short payoff for a Short Refinance it must show the current lender that the homeowner is faced wihth substantial financial hardship.

The monthly budget worksheet is just a good tool to have around for any purpose.  I also provide it to first time home buyers.

Paul Dunn
Arizona FHA Mortgage Loans
Arizona USDA Rural Home Loans

It's the long weekend and I've been working more hours that exist in a day, or at least I thought.  So we're packing up the ole Coleman Tent Trailer and heading on out to the Mogollon Rim up outside of Payson Arizona for a weekend of great views, hikes, fishing and just plain old relaxing.

The Mogollon Rim is like a mini Grand Canyon, where the cliff sometimes is 2,000 above a MASSIVE view.  Lakes and great hiking up on the plateau area.

This workaholic will be bringing his laptop though... :)

Next blog post will most likely be....The Fishing Report!

Cheers

Paul Dunn
Arizona FHA Mortgage Loans
Arizona USDA Rural Home Loans
Mortgage Marketing Community