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Blog entries tagged with "fha":
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Whats New With FHA- The Bay Area is Ready and Waiting...
I just don't understand, everyone seem's to just be interested in Rental's right now. There are some fabulous deal's out there, seller's are willing to negotiate to the bare minimum. Rate's are low. FHA has some great programs. What's UP WITH THIS?
Mi Reverse Mortgage lender Stops Foreclosure Using FHA HECM. Reverse Mortgages
With so much negative news about the credit crunch, subprime crisis or housing meltdown it is easy to get discouraged as a first time home buyer or even if you already owned a home and are shopping looking to upgrade.
The U.S. House of Representatives passed a comprehensive housing package comprised of two separate bills the House bill is H.R. 3221.
Do You Want to Buy a Home but You Don't Have the Down
payment?
Fannie Mae has announced that it will be making changes to its automated underwriting system, Desktop Underwriter effective May 31. This move is the latest round of tightening in underwriting guidelines in recent months. These changes have restricted private mortgage insurance to a maximum of 97% financing and imposed pricing adjustments … (2 comments)
Nehemiah will gift you up to 3% of the Purchase Prive for a down payment. The Seller must agree to participate in the program. Basically, the 3% is deposited by Nehemiah and it is deducted from the Sellers proceeds after the close of escrow. 
Have you heard about the 'New Subprime'? Or how about the 'Mortgage Bailout'?
When I first got into real estate, I was working for my parents in Dayton, Ohio. Dayton had (and still has) a very affordable real estate market. It was very common to see most buyers purchasing using FHA financing or other government loans.
Why FHA Loans are the best Loans Now
Deciding how much house you can afford
Home financing may never be the same again. As much as I think I know about mortgage, it's been challenging to keep up with who still does what and which banks are still in business. Due to limited equity in homes and tightening loan qualification criteria, I can't be so confident … (0 comments)
Call 1-888-905-3726 today for your free report!!
I got a call today and have had several calls in the past month or so from customers who have driven by, saw on of my listing signs in the front yard and call me wanted to know information on the property in question. I explain to them the details of … (2 comments)
On May 6, 2008 the Cincinnati Enquirer's lead article about a home buyer in trouble "Homeowner in Over Her Head" detailed the story about a buyer with mortgages on 3 homes worth 5 million dollars. She claims she was duped by her tax preparer and is now looking for assistance … (0 comments)
It's very interesting that many people have the initial idea that FHA somehow stands for First Time Home Buyer, and that the FHA Home Loan was designed with the First Time Home Buyer in mind.
Ok...check out this scenario:
This afternoon, I received an email from one of the mortgage reps I often refer business to (she works at SunTrust). According to the information I received, the Private Mortgage Insurance (PMI) companies will now insure ONLY up to 90% financing for condo purchases.
5/06/08
I seem to be getting more and more calls on my REO properties asking if the seller is willing to pay all of the buyer's closing costs and participate in an FHA downpayment assistance program (such as Ameridream). The story is usually that "It's a really sweet first time homebuyer who … (5 comments)
Has anyone else heard this rumor about many of the larger real estate firms requesting that all of their agents send thier buyers to www.SelectBestRate.com to get prequalified?
First Time Buyers as well as Repeat Buyers - FHA has raised the loan limits on a single family home to $400,000 in Mesquite NV and all of Clark County. The average single family home in Mesquite NV sells for around $300,000.
Financing Solutions with David Reed
Financing Solutions
Rhode Island is implementing the next step in its updated fire code this July, when all existing 3-unit properties must have a hard-wired alarm system installed in order to maintain their certificates of occupancy. This change can be traced back to the tragic fire at the Station nightclub in 2003, and … (2 comments)
Buying Your First Home? Real Estate Agents Are Your Professional Guides. Make Sure You Choose Top Experts. 
It feels like nearly every deal we do today in my market involves an FHA buyer buying a bank-owned property. Although buying activity is great, this is a buyer/seller combination with its complexities.
I have recently started to take advantage of the FHA Loan Programs that are available to buyers. I thought it would be helpful if I posted the FHA requirements that may benefit you & your clients.
On April 17, 2008, Barney Frank introduced in the House a bill that would enable FHA to refi home loans at 90% of current market value with the goal of keeping more home owners in their homes. I will track this bill through the House and Senate as I did with … (0 comments)
This is just for curiosity and your opinion. 
Hi folks. I am writing today to pick your collective brains a little. Have you heard that the House of Representatives recently passed a bill, H.R. 5830, named the Federal Housing Administration (FHA) Housing and Homeowner Retention Act?
After another month has gone by with even more guideline changes for home mortgages, that have put the squeeze on borrowers who have "less than perfect credit" and for those who have less than 5% to put down have resultied in leaving some borrowers out in the cold. This is a sad … (1 comments)
$300 billion FHA refi plan headed for House vote
The Pre-Flop
Thanks to The Nehemiah Program ®, more than 250,000 individuals and families now own homes.
On Thursday the House Committee approved a new method of handing the foreclosure crisis, entitled "short-pay" loans. This will enable the homeowner to negotiate a payoff with their current lender to accept less then what is owed. The government sponsering entity on this is the Federal Housing Adminstration (FHA), and will … (1 comments)
On May 5, 2008 the Federal Housing Administration (FHA) through Housing and Urban Development (HUD) is launching an online appraiser application process that will replace the existing process of sending paper applications through the mail. This process may make the process of applying to become a FHA Roster appraiser much easier … (1 comments)
… (0 comments)
Due to the more strict lender's guidelines, FHA loans are on demand. FHA loans can be obtain with less credit scores and lower down payments. However, the house condition has to meet minimum FHA standards. Lenders will hire a HUD Approved Real Estate Appraiser to determine if the home to buy … (14 comments)
Here is a good article on Fed Rate Cuts and their effect on Home Mortgage Rates.
Realtors and Fellow Finance Professionals, 
Have you been told by another agent or a lender that you make a good salary but need more money down, or dont have the best credit and cant get financed. Well maybe if you are going through a conventional loan, but FHA rules and guidelines have changed greatly. If you … (4 comments)
This question has been asked of me by many people lately, especially home sellers. The answer is I really don't know what will happen to the future of our North Orange County Real Estate Home Prices. I do know that there are more home buyers in the market. I have just … (4 comments)
Who needs a Rehab Loan from FHA Do you need a Rehab Loan Program from an FHA approved lender.
Why Choose FHA? Almost half of today’s buyers are first time homebuyers. 
Before approving a loan, I will analyzes the integrity of the borrower's past credit performance. Those who have a good credit history demonstrated by a solid track record of timely payments will likely be eligible for a loan. Potential borrower's whose credit history is marred by slow payments, poor financial judgment … (8 comments)
BUT JOE!!!!! that is what the media and EVERYONE claims that it is.... what do you mean it isn't!!!!
… (0 comments)
After many months of waiting I've finally have become an approved appraiser for FHA. If you or someone you know needs an appraiser for an FHA loan please keep me in mind. G.N.O. Appraisal Services covers the Metro New Orleans area. … (1 comments)
Why are people so afraid of reverse mortgages? You can walk into any room and ask for people's ideas about reverse mortgages and you will hear words like "scam", "predatory", and "steal". Let me be the first to tell you that these feelings are not unwarranted. Back in the 1980's when reverse mortgages … (2 comments)
Well kept and updated home on a quiet street close to hospitals, schools, shopping and freeways. Newer carpet throughout; recently remodeled kitchen and bathroom; two roomy bedrooms; interior laundry room; attached 2 car garage with interior access and auto door opener; landscaped front and back. This home qualifies for First Time … (0 comments)
Una buena amiga mia me llamo el viernes pasado y me pregunto si realmente las tasas de interes estaban al 4/625%. Su pregunta me sorprendio puesto que es logico que las tasas de interes no estan asi de bajas por lo menos para un programa de 30 anos con tasas de … (3 comments)
One of the biggest complaints from Realtors today is that it seems to be taking forever to close a loan, especially the FHA mortgage loans. The average turn time to get a loan submission through underwriting is roughly 21 business days... only counting business days means that's a month!
With times not being what they were a year or so ago, we need to get creative in finding ways to getting people in homes. While many look for new ways and new programs to make a deal, many miss out on what's always been available to them. 
It has become very common for mortgage brokers who are not FHA approved to sign up with a "net branch" company that is FHA approved. Working for a HUD approved mortgage banker, licensed in multiple states, I get these requests all the time. I am more than willing on bringing well … (0 comments)
First it was Countrywide, and now its parent, Bank of America has officially suspended their jumbo reverse mortgage program.
We all know that sub-prime lending is harder and harder to find. 100% financing has all but disappeared. But did you know that the vacuum has been filled by FHA? This may be the catalyst needed to get first time homebuyers in, freeing sellers to trade up to their dream home. We have … (1 comments)
FHA & VA Home Buyers Have A Golden Opportunity Consider this; new figures out today on the continued housing market slump making news, yet again, with new construction brining in national number of an 8.5% drop in sales for the first three months of this year and the National Association of … (0 comments)
According to government data released thios week, Claims on Federal Housing Administration mortgage insurance rose by 61 percent last year, compared to what it was five years ago. These pay offs allowed more than six in 10 home owners who defaulted on FHA-insured loans to stay in their homes, up from … (0 comments)
I was watching the Nightly Business Report last night and there was one segment in particular that caught my attention -- FHA's No Money Down Loan Program
I've been on Zillow Mortgage Marketplace since the day it went live (I think, must have been damn close).For the most part, I really can't complain about the system. I've gotten a few good leads, a definite closing, and hopefully a few more clients. I've also been active on the discussion … (17 comments)
REALTORS® and the Federal Housing Administration (FHA), which is part of the U.S.Department of Housing and Urban Development (HUD), have been partners in creatinghomeownership opportunities for more than 70 years. Since FHA was created in 1934, ithas helped more than 34 million families become homeowners, many by working withtheir REALTORS® to … (0 comments)
Those who think they’ve been excluded from the dream of owning their own home need to think again. While it’s true many conventional lenders have tightened their lending & underwriting requirements there are other programs that have become more flexible.
… (2 comments)
On average, Texas has the lowest credit score in the country. The score is a whopping 651 while the country has an average score of 692. What does this mean for Texas buyers? This means you're a higher risk and loan programs in Texas are different from other states. Look at … (8 comments)
I really love this house, but it needs work...