Can I Have Your Business Card? - 07/31/08 11:38 PM
There are two answers to that:
1) search your pockets, breifcase, wallet, dog, neighbor or whatever happens to be within reach to find a business card
--- OR ---
2) (I just discovered this and spoke to the CEO about the FREE product today, it is really cool) pull out your … (6 comments)
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Can someone explain Active Rain Points and why I want them? - 07/31/08 10:35 PM
Technically, a post should be about sharing knowledge. And after having a conversation with fellow Tucson Mortgage Guru Mike Jones, I've come to realize I've come to realize that I have no stinking clue what the points thing is all about or why I want them...
So since posts are generally … (44 comments)
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FHA Short Refinance Gets A Boost From The Housing Rescue Bill - 07/28/08 11:07 AM
The Housing Rescue Bill just passed Congress and that is fantastic news for households facing the prospect of losing a home to foreclosure. An additional $300 Billion will be allocated for FHA Short Refinance Loans (FHASecure) allowing home owners faced with the prospect of foreclosure to do an FHA Short Refinance and keep their … (2 comments)
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FHA Loan Impact From The Housing Bill That Just Passed Yesterday! - 07/24/08 10:42 AM
The House passed the Housing Bill yesterday with the primary goal of providing a safety net to GSEs Fannie Mae and Freddie Mac and will have an impact on the FHA Loan.
However there are some other important bits to the housing bill.
It will allow The FHA to guarantee up to … (9 comments)
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How Much Can I Borrow With A USDA Rural Home Loan? - 07/17/08 01:50 PM
I am often asked "Paul, how much can I borrow with a USDA Rural Home Loan here in Arizona?"
The answer for home buyers is "It Depends".
For a USDA Rural Home Loanit depends on your repayment ability and the appraised value of the home you are buying. We'll look at the … (3 comments)
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How To Buy A HUD Repo Home With FHA Mortgage Loan Financing - 07/16/08 12:28 PM
Everyone wants a great deal on buying their next peice of Real Estate and buying a HUD Repo Home and a very special FHA HUD REPO Home Loan, could be your path to finding just that... a GREAT deal in Arizona Real Estate.
What Exactly Is A HUD Repo Home and … (3 comments)
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How Much Down Payment Do I Need To Buy Rural Real Estate? - 07/16/08 11:44 AM
One of the best things about the UDSA Rural Real Estate Loan is that it allows people with low to moderate income to qualify to buy real estate in a rural designated area for zero down payment.
Nothing Down...
No money out of pocket at all to get a USDA Rural … (0 comments)
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USDA Rural Designated Areas In Arizona - 07/14/08 02:24 PM
The USDA Rural designation might surpise you. The USDA says that the property must be designated as rural by the Rural Housing Service (RHS) and some designated rural areas actually look and feel more like the suburbs. In Tucson, the Rancho Vistoso area North of Tangerine Road has the coveted USDA … (1 comments)
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So What Exactly Is An FHA Secure Short Refinance? - 07/11/08 09:53 AM
Hi I'm Paul Dunn, Tucson's #1 FHA Mortgage Loan Originator and I am constantly getting the question "What is an FHA Secure short refinance". A Short Refinance is a transaction where the current lender forgives debt in order to complete the transaction.
Here's a real life example: (very simplified)
Let's say you … (4 comments)
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So What Is A USDA Rural Home Loan? - 07/10/08 03:16 PM
When you think of USDA I know the first thing you think is HOME LOAN FINANCING! Right? Actually, if you're like most Americans you probably think of Milk, Cows, Pigs, Corn, Farms and a beautiful farm house. Anything but mortgages.
Rural, really isn't all that rural. Here is a picture of … (0 comments)
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FHA Mortgage Loans Get Updated Mortgage Insurance Premiums - 07/10/08 03:00 PM
This just in... FHA Mortgage Insurance Premiums are going to CHANGE effective July 14, 2008. The change is designed to shift the burden of the FHA Mortgage Insurance costs to the higher risk borrowers. Basically, borrower characteristics showing the highest instance of default will pay higher premiums and vice-versa.
FHA Mortgage … (0 comments)
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Short Refinance Is A Viable Option For Arizona Homeowners Looking At Foreclosure - 07/10/08 10:37 AM
The first thing I did this morning was read FoxNews and ran across this article that stated US Home Foreclosures Jump 53% In June. Being an FHA Mortgage Loan Originator in Tucson Arizona I was curious what the numbers looked like for Arizona. The reason I am writing this post is to … (0 comments)
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It's An FHA World Right Now - Bring On The FHA Mortgage Loans - 07/08/08 10:25 AM
Yes it is true, it's an FHA World and a combination of FHA Mortgage Loans and the USDA Rural Home Loan will be the staple for some time. USDA Rural is actually up 475% in Arizona over this time last year!
Businessweek states that a new accounting rule may require Freddie … (3 comments)
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Short Refinance FHA Secure Saves Another Home From Foreclosure - 07/07/08 11:05 AM
I just wanted to share my most recent success in providing a short refinance.
About two months ago I received a call from a gentleman who was upside down on his home that he had owned for the last 5 years. He owed $468,000 with an adjustable rate mortgage for a … (1 comments)
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