Special offer

Homebuyers can now use FHA loans for Bank-Owned and REO propeties

By
Mortgage and Lending with VanDyk Mortgage Corporation NMLS# 95835,Corp 3035

HUD has recently made changes allowing homeowners to qualify for FHA loans when buying homes that have been foreclosed, returned to lender (deed in lieu of foreclosure),  AKA REO properties.   REO stands for Real Estate Owned, which are essentially Bank Owned Repos.    Outdated regulations from HUD to prohibit property flipping and false price appreciation made it difficult for banks to sell recently foreclosed properties due to a HUD rule which prohibited the use of a FHA loan to purchase a home that had not been owned by the seller for atleast 90 days.   This has now been lifted until June 2009.  

This will allow homeowners to qualify for FHA loans to purchase the numerous bargain priced REO or Bank Owned properties coming to market.  We are here to help.

We can help you get the home of your dreams with a Safe, Secure, Affordable FHA loan.  Call us at 866-435-6553 toll free to get details and achieve your dream of owning a beautiful new home.   NorStar Mortgage Group is a Full Eagle Direct Endorsement FHA Direct Lender. We have years in business Lending FHA loans direct to consumers. Call the experts.     

We serve the following areas for  FHA and Conventional loans: Louisiana, Baton Rouge, New Orleans, Shreveport, Monroe, Lafayette, Alexandria, Monroe, Alabama, Mobile, Birmingham, Tuscaloosa, Hoover, Dothan, Auburn, Anniston, Montgomery, Tennessee, Nashville, Knoxville, Union City, Springfield, Sevierville, Murfreesboro, Memphis.

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Call Today to find out about best loan for your family.

Click the Link Below to Learn about our unique Pre Approval Process 


                 

 

                    

Specializing in Government Home Loans.  FHA, VA and  USDA Rural Development

 

Alabama: License # 52935

Birmingham, Montgomery, Mobile, Huntsville, Tuscaloosa, Hoover, Dothan, Decatur, Auburn, Gadseden, Florence, Bessemer, Madison, Prichard, Phenix City, Homewood, Vestavia Hills

Georgia: License # 36362

Albany, Atlanta, Augusta, Alpharetta, Athens, Canton,  Columbus, Dalton, Dunwoody, Johns Creek, Macon, Marietta, Roswell, Sandy Springs, Savannah, Smyrna, Valdosta, Warner Robbins

Kentucky: License # MC305583

Louisville, Lexington, Bowling Green, Owensboro, Covington, Hopkinsville, Richmond, Florence, Elizabethtown, Frankfort, Paducah, Independence, Danville

Louisiana: License # 35486

Alexandria, Baton Rouge, Bossier City, Central, Denham Springs, Hammond, Houma, Kenner, Lafayette, Lake Charles, Livingston,  Marrero, Metaire, Monroe, New Iberia, New Roads New Orleans, Prairieville, Shreveport, Slidell, Walker

Tennessee:  License # 108470

Bartlett, Bristol, Chattanooga, Clarksville, Cleveland, Collierville, Columbia, Cookeville, Crossville, Fairfield Glade, Franklin, Germantown, Goodlesttsville, Hendersonville, Jackson, Jamestown, Johnson City, Karns, Kingsport, Knoxville, Memphis, Morristown, Murfreesboro, Nashville, Oakridge, Smyrna, Spring City

Texas

Abilene, Amarillo, Arlington, Austin, Beaumont, Brownsville, Carrollton, Cypress, Dallas, Denton,  El Paso,  Ft. Worth, Frisco, Garland,  Grand Prairie, Houston, Irving, Killeen,  Lubbock, McAllen, McKinney, Mesquite, Midland, Pasadena, Plano, San Antonio, Tyler, Waco, Wichita Falls

 

We offer VA Loans,  FHA Loans, USDA Loans, and more across Alabama, Louisiana, Texas and Tennessee

 

Bill McDonald NMLS # 95835

VanDyk Mortgage NMLS # 3035

 

Bill McDonald-VanDyk Mortgage

705 Gate Ln Suite 202 104

Knoxville, TN 37909

(865) 686-8711

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Brian Skaar
VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender - San Diego, CA
Purchase Loan Specialist - VA, FHA, Conventional

This is great news, and even better news has come recently as HUD has relaxed the 90 day flip rule for FHA Sales.

Feb 18, 2010 09:37 AM
Brian Skaar
VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender - San Diego, CA
Purchase Loan Specialist - VA, FHA, Conventional

Most of our sales in California are Bank Owned, Foreclosures or Short sales, so this really helps our buyers.

Feb 18, 2010 09:38 AM