The Locker Room

Key facts of the new housing legislation include:For homeowners in danger of losing their homes: ·The Federal Housing Administration will insure and refinance up to $300 billion in mortgages to qualified homeowners. Existing mortgages would be canceled in favor of 30-year, fixed-rate loans for up...

  Act Now to Save Downpayment Assistance! Take Action Now This week the President signed H.R. 3221, Housing and Economic Recovery Act of 2008, into law. The bill contains a provision (SEC. 2113) which forbids FHA from insuring mortgages in which the borrower's downpayment comes from a private dow...

      What's your goal for your clients?  Even in these times, Renovation Mortgage Plus can help, just ask Diane Coombs a Real Estate Agent at Solid Source Realty. Ms. Coombs contacted Renovation Mortgage Plus with the idea of conducting a Renovation Lending CE Course inside of one of her listin...

Town Hall with Scott Syphax, President and CEO of Nehemiah Corporation You are invited to join Scott Syphax, President and CEO of Nehemiah Corporation of America, for a 30-minute virtual town hall meeting on Wednesday, July 30, at 10:00 AM PST / 1:00 PM EST. We will be placing a courtesy call to ...

Letter from Nehemiah   Housing Bill an Immediate Threat to Downpayment Assistance! Dear Friend, I am turning to you in the 11th hour, urging you to take action to oppose a housing bill that will eliminate downpayment assistance. The Senate and House of Representatives are fast-tracking this bill...

What's your goal for your clients?  Even in these times, Renovation Mortgage Plus can help, just ask Diane Coombs a Real Estate Agent at Solid Source Realty. Ms. Coombs contacted Renovation Mortgage Plus with the idea of conducting a Renovation Lending CE Course inside of one of her listings and...

AIG United Guaranty - has just told me that the "Homestyle Remodeler" rehab product through FNMA will no longer be insurable (LTV >80%) in areas designated as a "Declining Market". If you are not sure if a property is in a declining market, here is a link to UG's ZIP code finder:   https://www.ug...

Here are some resources for staying current on the real estate market, financing, trends, laws and taxes. www.bankrate.com - News about the real estate market, tips, changes in the laws, local mortgage rates, as well as a variety of calculators such as amortization and payment, renting versus buy...

Effective with new FHA case number assignments on or after July 14, 2008, FHA will implement risk-based premiums on one- to four-unit single family mortgages.  The premium matrix is shown below, replacing the premium matrix in Mortgagee Letter 00-38, which identifies the current mortgage insuranc...

HUD will now allow all mortgage lenders tosell foreclosed property with FHA financing without regard to the date theyacquired the property. Previous to this, only Federally chartered banksand credit unions and the GSEs (FannieMae and FreddieMac) and HUD were allowthis exemption.Please be aware th...