Real estate blog entries tagged with foreclosure by Paul Dunn - Tucson's #1 FHA Mortgage Originator and USDA Rural Specialist (First Priority Financial)

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foreclosure: FHA Secure Short Refinance Options When You Are Upside Down On Your House - 09/22/08 10:15 AM

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.
Short Refinance Write Down - This is the option of preference. The existing … (5 comments)

foreclosure: FHA Secure - Is It Just Another Bad Credit Mortgage Loan? - 08/14/08 11:51 AM

I've been getting calls on a regular basis about the FHA Secure Short Refinance. Many people are calling it the Foreclosure Loan or simply a Bad Credit Mortgage Loan.
The primary questions about the FHA Secure are:
Do I have to be in foreclosure?
Do I have to have Bad Credit, … (9 comments)

foreclosure: Housing Market Hits A Low - House Sells For ONE DOLLAR! - 08/14/08 11:10 AM

You'll never believe it but I just got wind that a foreclosure home in Detroit at 8111 Traverse Street just sold for...
(time for another drum roll)
ONE DOLLAR!
Could this be a siginal that the housing market has bottomed out? The house was bought back in November of 2006 for … (7 comments)

foreclosure: 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)

foreclosure: 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)

foreclosure: 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)

foreclosure: 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)

foreclosure: How To Buy Bank Owned REPO Real Estate - 06/30/08 06:50 PM

The Bank Owned REPO Real Estate market continues to grow. Many of my clients have had questions about how to buy Bank Owned property and how to Finance Bank Owned Real Estate in Tucson with FHA Mortgage Loans. So I made a video...and in the video show them the 5 ways … (3 comments)

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