T Chumba's (rightmortgage) Blog

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RECENT BLOG POSTS
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On a recent FHA post that I had, I wrote about how FHA is, bluntly speaking, up shi*s creek. Well, earlier this morning I received an update stating that HUD asked Congress to raise FHA requirements up to 5%. Enter FHA Taxpayer Protection Act of 2009… Basically because of all the financial issue...
12/11/2009
Well the results of the FHA audit are in and they’re NOT good. A while back I wrote a blog regarding the dire matter at hand explaining how FHA works and what to expect in the near future. Well, after the audit, FHA’s current Capital Reserve came back at 0.53% when in fact they are SUPPOSED to be...
11/13/2009
ARE YOU FRIKKIN’ KIDDING ME???????? They’re the damn guys that took all of our money and bought out troubled Countrywide and Merrill Lynch! I mean honestly folks- HOW IN THE HELL DO YOU GET BILLIONS OF DOLLARS FROM THE GOVERNMENT and STILL lose money???? Since the Countrywide acquisition, I perso...
10/16/2009
In a previous post of mine, I outlined a problem that FHA has been currently dealing with, and yesterday, on the front page of Yahoo, I found an article from the New York Times that gives a nice little update. I wanted to repost it so please take a moment to read this (kinda lengthy), as its VERY...
10/10/2009
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Just this morning, I was reading an article that I came across regarding a couple things that are going on with the Federal Housing Administration (FHA)….and it wasn’t pretty. Basically what’s going on right now is that there are justifiable rumors that the FHA’s reserves (capital) are hovering a...
09/08/2009
In a recent email conversation with my Realtor this morning, we were discussing a mortgage lender that was advertising using a local county program that would front the buyer the $8k tax credit so they could use as a down payment. He asked me to post my reply on AR, and would like some feedback a...
07/25/2009
When the unemployment rate is near 10%, it’s really not hard to see why people may have a hard time paying their mortgage on time. What do you do if YOU are one of those people? Where do you turn? Who do you call? The point of this brief article is to direct you to a LEGITIMATE source that may be...
07/20/2009
Here’s an excerpt from one of my favorite movies, A Bronx Tale. Please follow closely: Sonny: Get this over with, Mush. Mush: Come on, dice. Baby needs a new pair of shoes. Come on, seven! Mush: Come on! Come on, dice! Sonny: I don’t even have to look. (Spectator) And seven! Mush: Craps! I’m out...
06/23/2009
So, you’ve decided to buy a house? GREAT DECISION, especially now since rates are super low and you can walk into plenty properties with some decent equity. Ok, step 1 complete. Next step, picking the right lender. I’ve written several articles on this previously, but I will summarize countless ...
05/18/2009
So there has been a lot of rumors regarding the $8000 first time home buyer tax credit and that it can be used as a down payment for a new home with an FHA loan. At first, I thought it was just another “mortgage scam”. Trust you me, the real mortgage industry always leaves room for the next “mill...
05/16/2009
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Mortgage and FHA Loan Tips and Advice covering Houston, Austin, Dallas, San Antonio, and all around Texas.