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freddie mac: Tips Countdown: #26 Non-Occupant Co-Borrower - 12/02/08 07:40 PM
Mortgage Tip #26 (Counting down to #1)
It happens. Neither the borrower nor their spouse nor both combined earn enough income to qualify for the loan they need to purchase their first, or next, home. We see this most often on first time home-buyers where one or both of the spouses do not qualify for any of a handful of reasons.
Since there are different rules for different situations and since lenders augment or modify the guidelines from Fannie or Freddie and often go over-kill on FHA I will not publish a list but rather ask you to develop a relationship … (1 comments)

freddie mac: Mortgage Companies and Banks Do Not Run The Mortgage Industry - 09/05/08 11:05 AM
Neither do the investors.
Neither does the government.
A couple of weeks ago I was on a conference call for wholesale lenders and mortgage brokers with HUD Deputy Secretary Jim Beavers who is in charge of FHA's Single Family Housing Products. Jim "fussed" at the wholesale lenders for writing their own rules above and beyond what FHA's guidelines allow for. He gave them/us an earful about how FHA Secure has been treated by the lenders.
I agreed with him. Lenders have treated FHA Secure like the piece of garbage it is. Designed to help homeowners (originally) who were behind in their … (9 comments)

freddie mac: Crucial Conference Call on HR3221 FHA Deal Killing Changes NOW - 08/15/08 09:25 AM
Join me and my guests for this very crucial conference call regarding the changes mandated by HR 3221 (Housing Rescue Bill) and how it WILL affect your transactions. It is urgent because this is in play now - not at some phantom future date - and many of you will be caught in the cross fire. Especially if you do not know the Seven Deal Killers that are in play right now.
This is probably the most important conference call you will participate in this year. It contains assembled information not available from any other source of this type at this … (0 comments)

freddie mac: Lender Update - LTV Changes are HERE ;) - 06/12/08 04:18 PM
I alluded to this several weeks ago (sorry for my absence I was quite sick for nearly 3 months) and now the time has come. The Mortgage Insurers are broke and have to fix it. This is nationwide regardless of the strength of your market area. According to most Mortgage Insurers the entire nation is in a declining market. What a great time to be a real estate investor!
General Specifications:
As previously notified, after today you will no longer be able to obtain commitments for mortgage insurance on loans with LTVs greater than 97%. Therefore, the following 100% LTV programs … (4 comments)

 
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Ken "Yes You Can" Cook

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Ken Cook, Web Dev, Brand Strategist 678-439-8683

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