New Fannie Rule - 07/29/08 12:27 PM
Below is a summary of the New Fannie rule regarding conversions of an Existing Primary Residence to a Second Home or Investment Property. Typically Freddie follows Fannie so I'm sure they will be right behind. This only applies to Conventional loans.
Current mortgage rule: You would just have to get a copy … (0 comments)
Four tips to help you qualify for a mortgage - 07/25/08 01:58 PM
Check your credit reports. The three main reporting agencies are Equifax, Experian, and TransUnion. You'll want to make sure that all the information on these reports is correct. If you find some information that is incorrect, you should report the discrepancy immediately to all three reporting agencies. Anything negative on … (0 comments)
Did Thousands of Felons Become FL Brokers? - 07/23/08 12:20 PM
More than 10,000 people with criminal records were allowed to work in Florida's mortgage industry, according to a report in The Miami Herald. Of those, more than 4,000 cleared background checks despite committing crimes that state law requires regulators to screen, including fraud, racketeering, and extortion.
I've yet to figure out … (3 comments)
Red Bull Flugtag - 07/21/08 09:58 AM
On Saturday I went to Flugtag, Tampa Bay to watch a co-worker at SunTrust Mortgage compete. His team Tampa Bay Baywatch soared 109 feet and won. Tampa likes to have a good time, but I never expected a crowd of over 100,000 people.
What is Flugtag? Red Bull Flugtag challenges teams of … (1 comments)
Bank-Owned Properties - 07/18/08 08:53 AM
Experts say investors have numerous opportunities these days to snap up bank-owned properties at discount prices, given that lenders want to wipe them off their books. Solo investors and investor groups no longer tend to negotiate with lenders to purchase single properties, as it is quicker and less expensive to negotiate … (0 comments)
Benefits of FHA Loans - 07/16/08 01:22 PM
Why use FHA?
Since 1934, FHA has served as an economic backstop working hand-in-hand with lenders to provide consumers with access to safe and affordable loans, even during times of tremendous market volatility as with the current subprime situation.
No minimum credit score.
Non-traditional credit is acceptable.
Low 3% downpayment.
Unlimited gifts. … (2 comments)
Dispelling Common Myths About Participating with FHA - 07/16/08 09:57 AM
Dispelling Common Myths About Participating with FHA
Myth: Takes more time processing.Truth:
Takes no more time than a conventional loan.
Adds no additional or special requirements.
Myth: More paperwork is involved.Truth: Requires only one additional document signed by the borrower.
Myth: Higher costs are inevitable.Truth:
Rates are competitive with the … (0 comments)
Definition of Insanity - 07/02/08 11:53 AM
Definition of Insanity:"Doing the same thing over and over again expecting a different result."
Albert Einstein
Are You Ready to Do Something Different and Take Your Business to the Next Level?
Join a dynamic, high power, action charged Group Coaching program and learn how to move your business ahead, and accelerate … (1 comments)
Guaranteed residential loan... - 07/02/08 09:31 AM
A great alternative to an FHA loan is the RURAL DEVELOPMENT, USDA loan. The home to be purchased must be located in an eligible rural area as defined by USDA.
To determine if a property is located in an eligible rural area visit http://eligibility.sc.egov.usda.gov
THE ADVANTAGES OF THE USDA LOAN:
Loan … (1 comments)
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Below is a summary of the New Fannie rule regarding conversions of an Existing Primary Residence to a Second Home or Investment Property. Typically Freddie follows Fannie so I'm sure they will be right behind. This only applies to Conventional loans.
