arizona: Ted Knows Loans in Arizona - 05/12/20 06:04 PM

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arizona: FHA Streamline Refinance in Arizona and California June 2012 - 05/26/12 05:19 AM
FHA Streamline Refinance in Arizona and California June 2012
For an FHA Homeowner who currently has an existing FHA loan that was endorsed/ closed prior to June 1, 2009, the MIP (mortgage insurance premium) are likely ”grandfathered” into a special guidelines designed by the FHA earlier this year.  Arizona and California FHA Homeowners, may qualify for a reduced rate on the MIP and the annual mortgage insurance premiums aside from a significantly lower rate and payment. 
Get an Arizona and California FHA Streamline Rate Quote
Upfront MIP Beginning for FHA Case Numbers assigned on or after June 11, 2012, and for loans endorsed prior to June … (0 comments)

arizona: FHA Postpones "Collection Payoff" Requirement in Arizona and California - 04/09/12 10:30 AM
As if it is not getting harder to qualify for a loan, FHA put the scare in everyone for the last couple of months stating that FHA homeowners in Arizona and California would have to either:

Pay off all their collections if it amound over $1,000 or; Have a payment arrangement with the collection company for a minimum payment history of 3 payments/ months. The great news is that FHA came out today and stated that they were going to postpone the FHA requirement to "pay off your collection accounts" until they hear more public and industry comments before enforcing … (1 comments)

arizona: FHA Raises Their Mortgage Insurance for 2012 - 03/15/12 09:15 AM
FHA Raises Their Mortgage Insurance for 2012
The pinnacle and driving force of an FHA loan in Arizona and California is the Mortgage  Insurance or most commonly known as "MI".  Most people do not make the connection and know the difference from any other loan  in Arizona and California.  FHA's flexible lending guidelines allows lenders to approve loans to its segment of the market simply because the loans are insured by FHA which is funded by the MI that an Arizona and California homeowner pays monthly and the Upfront Mortgage Insurance Premium the FHA charges the borrower. Go here for more information on FHA Increasing … (0 comments)

arizona: The FHA Less Than 90 Day Flip Rule Waived In Arizona and California for 2012 - 12/23/11 05:30 AM
The FHA Less Than 90 Day Flip Rule Waived In Arizona and California for 2012 Today 12/23/11, FHA declared that the 90 Day Flip rule be waived and extended up to 12/31/2012, unless withdrawn or extended by FHA in Arizona and California. 
As you can already know many Arizona and California investors, agents and buyers are glad to know that the less than 90 Day FHA Flip Rule has been extended.  I hope that FHA comes to their senses and gets rid of the less than 90 Day FHA Flip Rule in Arizona and California, all together.   The less than 90 Day FHA Flip Rule was originally enacted to prevent the predatory … (2 comments)

arizona: Can I buy a home after a short sale in Arizona or California ? - 06/14/11 01:24 PM
Can I buy a home after a short sale in Arizona or California ?
The answer is yes.

What do you do if had to short sale in your home in Arizona or California?   Often times, most lenders won't even bother listening and shut the door right in your face.  It almost feels like there isn't any hope.  The great news is that at Academy Mortgage in Arizona and California, we do care and we do understand that many families are deserving of that second chance. YOUR EYES ARE NOT DECEIVING YOU!  

I did just say that we can finance you after … (2 comments)

arizona: Can I buy a home after a short sale? Yes you CAN!! - 04/01/11 12:57 PM
Buying a home after a short sale in Arizona Qualifying for a USDA home loan after a short sale is not very easy. However, Academy Mortgage in Mesa, Arizona will approve a home buyer if they can meet the criteria when applying for a USDA loan with our Academy Office in Mesa, Arizona. Most Arizona families who have had to make the hard choice or are forced to short sale their home, are often left wondering if they can or when will they be able to buy another Arizona home in the future. Most lenders have taken a standard stance that … (1 comments)

arizona: FHA: Including my mortgage in a Chapter 7 bankruptcy - 03/22/11 04:51 PM
FHA: Including My House In My Chapter 7 Bankruptcy   You filed a Chapter 7 Bankruptcy and included a mortgage/ or property in Arizona and you want to know when you can qualify for an FHA Home Loan in Arizona.. Am I correct?


What?
You may have even been told by a FHA mortgage loan lender in Arizona that after 2 years from the Chapter 7 Bankruptcy Discharge date you can qualify for an FHA Home Loan . Does that sound familiar? For the most part this information, technically, is true.
Like many others who have … (5 comments)

arizona: FHA Extends The Less Than 90 Day Flip Rule for 2011 - 01/19/11 07:40 AM
FHA Extends The Less Than 90 Day Flip Rule for 2011 in Arizona
FHA 90 Day Flip Rule Is Extend For the Year 2011 in Arizona
HUD has informed us that they are going to extend the FHA 90 day seasoning financing rule for buyers & sellers in the greater Phoenix & Arizona area.  This obviously will be extended to all states in the U.S.

What does this mean for you as a buyer?
The extended FHA 90 Day Flip Rule will allow you to purchase a home that was currently purchased, in the most recent 90 days, by an investor and sold … (1 comments)

arizona: New FHA Upfront MIP for Arizona Homebuyers - 12/15/10 07:22 AM
New FHA Upfront MIP on Oct. 4, 2010 Effective October 4, 2010, Arizona FHA Homebuyers will see the new FHA Upfront MIP go down as much as 1%. Over the past 2-3 months, Congress has taken action and passed H.R. 5981. This bill gives FHA the authority to adjust it’s annual mortgage insurance premium yielding approximately $300 million per month to the FHA Mutual Mortgage Insurance Fund at a time when its reserves are perilously low. As a result, FHA has decided that effectively on October 4, 2010, the UFMIP (Upfront Mortgage Insurance Premium) and the Monthly Insurance Premium will change in order … (0 comments)

arizona: USDA Home Loan: Disclaiming Your Spouse’s Credit From Your Loan Application - 12/14/10 08:43 AM
USDA Home Loan: Disclaiming Your Spouse’s Credit
Non-Purchasing Spouse/ Disclaiming Spouse in Community Property States:
Except for debt obligations specifically excluded by state law, the debts of Non-Purchasing Spouse’s also known as a “Disclaiming Spouse” (Spouse’s that will not go on the loan) must be included in the borrower’s qualifying calculations/ ratios when the home buyer resides in a community property state or the property guaranteed is located in a community property state. The Disclaiming Spouse’s credit history is not considered a reason to deny a loan application. Click here for more information on USDA Disclaiming Spouse's Credit
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arizona: A Look Behind the Curtain at the Jobs Report - 02/08/10 12:10 PM
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arizona: $8000 & $6500 Tax Credit for Homebuyers - 01/25/10 04:06 PM
 
$8000 & $6500 Tax Credit for Homebuyers
If you are like many Americans thinking about buying a home and would like to learn more about the $8,000 & $6500 Tax Credit and have questions, you will find this post useful.  You are not alone but your time is running out.  April 25, 2010 is approaching and contrary to some people's belief, the tax credit is not going to be extended again.  The Feds have signaled that the stimulus is working and there is no more need for an extension of the $8000 & $6500 tax credit, for many reasons that … (1 comments)

arizona: Getting Pre-Approved: The Real Estate Network - 09/30/09 06:51 AM
The Real Estate Network
Getting pre-approved involves a bit more than divulging your name, address and social security number.  When it comes to the business of residential real estate transactions, it takes a network of professionals working together to get from the ‘drive by' stage - as in "we just want to drive by this house we read about" - to the closing table. Many people outside the business have the impression that realtors earn big commissions by "just driving people around." Because a professional agent acts as a liaison between his or her client and many other service providers in … (0 comments)

arizona: Can It Be NOW is a Good Time for a Mortgage? - 09/30/09 06:23 AM
Every now and then, the economy produces a time when it is a good idea to refinance yourmortgage or purchase a home.  For many, that time is now. Low interest rates are bringing first time homebuyers out by the score and that's driving the resale market.  Those of you on variable rates or coming off of fixed rates can benefit, too. Today's prime is at 2.25% compared to last year's prime at 4.75%, or two years ago at 6.25%. 
Conventional wisdom would say that now's the time to take the money and run by lowering your  payments and pocketing some cash.  Instead, you … (0 comments)

arizona: New TILA Rules can delay your next home sale! - 09/29/09 05:26 AM
There has been much discussion about the new TILA rules and little understanding.  I have written a step by step guide to understanding the new rules and how it can potentially affect your next transaction.  Hopefully this post can help you to also build the rapport with all the parties involved by educating them that the new rules are set in place to protect the consumer from "not only unscrupulous lenders" but all 3rd parties to the transaction. 
For more technical information please visit HUD's Website by clicking on the Federal Reserve Logo to the left:

1.        Highlight of changes
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arizona: USDA Budget runs out of funds... - 09/28/09 06:17 AM
USDA has announced it will not receive its appropriations for fiscal year 2010 by October 2009.  It will experience a delay in approval of funds and will likely not see them until early 2010.  However, this will not affect "all" lending on USDA Home Loans. 
USDA will make conditional loan commitments until the funds are appropriated.  USDA will allow lenders willing to assume the risk of approving such loans in case of default until appropriations are made and as along as they are able to carry the balances until USDA can purchase them from the lenders warehouse lines. 
Your best bet is … (4 comments)