FHA down payment clarification - SACRAMENTO - 09/23/08 12:57 PM
I'm coming across many buyers and agents asking about what can be used for down payment now that the seller assisted down payments are gone. I have copied below from the HUD handbook as to what are acceptable down payments. As you can see, buyers can "borrow" these funds as logn … (2 comments)
HARD MONEY USING ARV - 09/23/08 12:44 AM
I was curious to see what people have out there when it comes to hard money. I am interested to see what LTV private money lenders will finance using After Repair Value. I heard that there are lenders out there that will actually let you do 100% purchase off sales price … (3 comments)
Record 1.2 million homes hit by foreclosure - 09/05/08 10:13 AM
I think these numbers were expected. On a positive side, we should continue to see activity from first time home buyers and investors trying to take advantage of the more affordable market.
Loans in foreclosure have doubled over the past year, while delinquency rates continue to soar.
A record 1.249 million … (2 comments)
GMAC to cut 5,000 mortgage related jobs - 09/03/08 06:43 PM
The trend has been steadily pointing towards mortgage brokers being fazed out. I think many major companies will follow suit and reduce retail and completely shut down wholesale divisions. Hopefully in the process we don't hit more of a slump due to transition in lending practices.
The lender says it plans … (9 comments)
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I'm coming across many buyers and agents asking about what can be used for down payment now that the seller assisted down payments are gone. I have copied below from the HUD handbook as to what are acceptable down payments. As you can see, buyers can "borrow" these funds as logn … (2 comments)
