fha: Buying a Fixer Upper With An FHA 203K Home Improvement Loan - 03/03/11 12:27 AM
In today's Real Estate Market, Tampa Real Estate Agents show many short sales and foreclosures that require some TLC. Many buyers pass up these homes automatically, afraid they cannot afford to make the improvements necessary.
Buyers, and even many Tampa Realtors are unaware of the FHA 203K Home Improvement loans or at least not sure how they work. These loans however can go a long way to getting many of these homes sold, fixed up, often replacing an eyesore with a well taken care of home, a welcome addition to any neighborhood.
There are two types of FHA 203K loans, Streamline … (4 comments)

fha: FHA To Raise Mortgage Interest Rates On October 4, 2010 - 09/03/10 04:58 AM
Did we catch your interest with that headline?
Well to be honest FHA is not raising the interest rates on their loans, however they might as well be.
On October 4, 2010 any new FHA case numbers will see a decrease in the upfront mortgage insurance premium, along with an increase in the Monthly Mortgage Insurance Premium.
Congress and the administration has said this will save home buyers money.
Let’s look at reality and see if this is true.
We are going to look at three FHA loan scenarios as the new law gives the power to raise the Monthly Mortgage … (1 comments)

fha: FHA Condo Rules Change Effective February 1, 2010 - 01/27/10 12:37 AM
FHA is doing away with the condo review process as it now stands.
Starting February 1, 2010 there will be two ways for a condo complex to get approval for FHA lending known as HRAP and DELRAP.
HRAP stands for HUD Review and Approval Process. The HOA has to put together information and send it into HUD. The problem of course is in getting the Homeowner or Condo Association to actually compile the information and submit it to HUD and of course HUD like most government agencies is not exactly quick on their part.
DELRAP stands for Direct Endorsement Lender Review … (1 comments)