real estate: New FHA loan limits / # of properties financed update
- 03/03/09 10:16 AM
Here are a couple of important guideline changes that have come out in the last week or so. Though Fannie / Freddie / HUD have approved these changes, the banks have not yet implemented them . So, if have a client who plans on taking advantage of these changes they need a longer escrow period to allow the Banks make them available. I would suggest 60 Day escrows to be safe... Please let me know if you have any questions. FHA Loan Limits: The American Recovery and Reinvestment Act (ARRA), which was signed into law on Tuesday, increased the maximum conforming … (0 comments)
real estate: Please help saveDown Payment Assistance
- 08/29/08 09:39 AM
Good Afternoon, http://www.dpagroundswell.org/?redirect=1 click here to learn more about saving down payment assistance I have received a lot of e-mails and phone calls about H.R. 3221 The Housing and Economic Recovery Act of 2008. Among other things, this legislation eliminates Down Payment Assistance on FHA insured loans. Programs like the Nehemiah Program allow the seller of a property to make a charitable contribution to a non-profit which then donates the money to the perspective buyer for use as the down payment. . Down Payment assistance has helped millions of people buy homes and according to the Nehemiah corporation 40% of all buyers who … (20 comments)
Here are a couple of important guideline changes that have come out in the last week or so. Though Fannie / Freddie / HUD have approved these changes, the banks have not yet implemented them . So, if have a client who plans on taking advantage of these changes they need a longer escrow period to allow the Banks make them available. I would suggest 60 Day escrows to be safe... Please let me know if you have any questions.;)
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