UPDATED FACT SHEET: FHA TO PROVIDE ADDITIONAL MORTGAGE ASSISTANCE TO STRUGGLING HOMEOWNERS - 07/31/08 07:58 PM
We have received many requests in the past week to provide additional information on the new housing rescue bill that was just written into law this past week. Specifically, we have seen a great deal of interest in the new FHA loan that will help borrowers refinance their properties with negative equity (please see our past articles at www.activerain.com/blogs/vbkamb for past articles). While the full guidelines for this program have not been released as of today, we have seen a fact sheet from the Federal Housing Administration that we will share with you below. Additional information will be provided as it … (1 comments)

HOUSING RESCUE BILL: Additional Provisions Effect on the Housing Market - 07/28/08 11:09 AM
HOUSING RESCUE BILL:
Additional Provisions Effect on the Housing Market
Last week we provided information on the latest Housing Rescue Bill (see http://activerain.com/blogs/vbkamb for a copy of the article) and the sweeping changes it will provide. Those new measures include a new FHA refinance program for homeowners who are upside down in their homes, a home buyer tax credit, permanent raises to the conforming loan limit and the elimination of down payment assistance. With the Senate passing this bill on Saturday, all which is left is President Bush to sign it into law.
          All of the provisions in the new … (0 comments)

HOUSING BILL TO CREATE SWEEPING CHANGES: Many Homeowners May Benefit From New FHA Loan Program - 07/24/08 10:31 AM
HOUSING BILL TO CREATE SWEEPING CHANGES:
Many Homeowners May Benefit From New FHA Loan Program
The House on Wednesday voted 272-152 to pass sweeping legislation that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.
The almost 700-page bill will then head back to the Senate for a final vote and approval. The timing of this vote will likely occur within the next few days. However, the Republicans are expected to filibuster the bill.
In the end however, the bill is expected to pass in both … (0 comments)

FHA IMPLEMENTS RISK BASED PRICING - 07/14/08 11:24 PM
FHA IMPLEMENTS RISK BASED PRICING:
Upfront Mortgage Insurance To Increase For Certain Borrowers
It has been talked about for some time and finally effective with new FHA case number assignments, the FHA will implement risk-based premiums on one- to four-unit single family mortgages. This move comes after this issue has been debated for some time and changes the way homeowners qualify for mortgage insurance through FHA financing.
Under the current pricing structure, all borrowers regardless of their credit standing pay 1.5 percent of the loan balance up front and 0.5 percent a year thereafter. Under risk-based pricing, the upfront premium will range … (0 comments)

Down Payment Solutions For Home Buyers - 07/07/08 09:46 PM
Down Payment Solutions for Home Buyers:
How to obtain a down payment in today's real estate market
In recent years, no-down payment loans were the height of fashion for homebuyers. But now that lenders have tightened their standards, borrowers once again are expected to put money down when purchasing a home. What this means is that down payments are definitely back in style.
The primary advantage of a down payment today is simply the ability to qualify for a loan, since only a handful of so-called "zero-down" loan programs still exist and are quickly exiting the market. However, there are still … (1 comments)

Protect Yourself Financially Now That Interest Rates Seem Steady: Here are some tips on what the Fed's decision to stop cutting interest rates means to you. - 07/01/08 12:43 PM
Protect Yourself Financially Now That Interest Rates Seem Steady:
Here are some tips on what the Fed's decision to stop cutting interest rates means to you.
Last week the Federal Reserve decided to hold steady on short-term interest rates. Here are some tips on what you need to do now.
1. Understand How The Market Operates. 
It's really the end of an era. The Fed has been cutting rates for about a year. Although rates are steady at 2%, but there is something more here.
It's not what the Fed does, but it's what the Fed says that can really … (1 comments)

 

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