wa: VanDyk Mortgage helps Homebuyers with REO's & Repo's & the Rehab too!
- 08/05/08 02:56 PM
There is a little known program that is becoming very necessary for the purchase of many Bank Owned, REO, or Repo properties. The Rehab loan. VanDyk Mortgage offers 203K streamlines to make the process of buying a home that needs a little TLC (or quite a bit in some cases!) easier, more affordable, and quicker. Many of us have seen firsthand, or have heard stories about foreclosed home that have been torn up, stripped, vandalized, etc. With conventional financing, these homes are very difficult to sell or buy, as they are not in move in condition, and most lenders will not lend … (0 comments)
wa: Indymac Bank Closure may hurt Seniors' retirement planning options
- 07/12/08 10:26 AM
On Friday, July 11, 2008 the Federal Government closed Indymac Bank. It then reopened the bank under Federal oversight (FDIC) as Indymac FSB. This closure not only effects depositors and Home loan seekers, but it also means trouble for the largest Reverse Mortgage lender, Financial Freedom. Financial Freedom is a subsidiary of Indymac Bank, and was the number one provider of Reverse Mortgages to US seniors. Where should seniors look to now to find safe, secure Reverse Mortgage options? VanDyk Mortgage offers multiple programs for Reverse Mortgages, including the FHA backed HECM Reverse Mortgage. (Home Equity Conversion Mortgage). Reverse Mortgages can be used to … (0 comments)
wa: Homebuyers can now use FHA loans for Bank-Owned and REO propeties
- 07/01/08 05:09 PM
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 Outdated regulations from HUD to prohibit property flipping and false price appreciation made it difficult for banks to sell recently foreclosed properties due to a HUD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. … (0 comments)
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There is a little known program that is becoming very necessary for the purchase of many Bank Owned, REO, or Repo properties. The Rehab loan. VanDyk Mortgage offers 203K streamlines to make the process of buying a home that needs a little TLC (or quite a bit in some cases!) easier, more affordable, and quicker. Many of us have seen firsthand, or have heard stories about foreclosed home that have been torn up, stripped, vandalized, etc. With conventional financing, these homes are very difficult to sell or buy, as they are not in move in condition, and most lenders will not lend … (0 comments)
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