rehab lending: FHA Breaking News: HUD’s 203(k) Rehab Program Gains Popularity
- 01/07/08 12:02 AM
HUD's 203(k) Rehabilitation Program Effectively Restores Communities and Increases Homeownership Opportunities Rehabilitating a home through HUD's 203(k) Rehab Program involves various single family mortgage insurance programs administered by the FHA. According to HUD, the mortgage loans are obtained through FHA-approved lenders, which submit applications to conduct credit approval of the buyer and have the property appraised. The lenders fund the mortgage loans that are then insured by HUD. Importantly, the 203(K) Rehab Program is HUD's most effective and used program for the rehabilitation and repair of single family homes. Thus, it is an invaluable resource for community and neighborhoods that wish … (8 comments)
rehab lending: "TWAS AN HOUR BEFORE CLOSING"
- 12/21/07 07:42 AM
Just thought I would pass on a little fun for the holiday. You all remember "Twas the Night Before Christmas"...well here's one for all of us in the real estate world. Enjoy. "Twas an Hour before Closing" 'Twas an hour before closing and the agents were tense, to close Christmas Eve just didn't make sense. But the seller was booked on the 6 o'clock flight and had warned "THERE WILL BE A CLOSING TONIGHT!" The agents agreed ‘cause their business was dead, and visions of commission checks danced in their heads. The loan was approved by the lender's good grace, Everyone knew 'twas a borderline case. The buyers divorced, remarried again, Divorced once more, … (11 comments)
rehab lending: Try This Cash Experiment for Just One Month
- 11/13/07 08:23 AM
Tom Peters was out running errands when he realized he had left his wallet home. Fortunately, he had stowed some cash in the glovebox for just such an occasion. As he quickly depleted the reserve, he noticed something. "I, doubtless like you, pay for stuff with plastic," he writes in his blog at TomPeters.com. "There is many an 'ouch' in the process. But the credit-card 'ouch' is a far cry from peeling off $138 at the grocery store, $37 to fill a ... Subaru, $77 at one of my ordinary stops at the book store and a couple of others. One's … (3 comments)
rehab lending: Renovation Lending CE Course
- 11/07/07 02:31 AM
RENOVATION LENDING Presented by Howell M. Haunson In Howell's course entitled "Mortgage Fraud and the Realtor", we learned of the many dangers of mortgage fraud and how to recognize them. Now Howell offers a course on a loan that often appears to be considered a "fraudulent loan" yet is actually a great purchasing opportunity for many buyers and is legal when done properly. Learn how to recognize the difference and see the advantages this conforming loan can offer to your purchasers. Howell M. Haunson is the Education Director for Morris|Hardwick|Sneider and he regularly delivers lively and interesting interactive seminars on topics such as real … (0 comments)
rehab lending: Realtor Marketing Idea you have to read!
- 11/03/07 10:31 AM
My colleague and I always attend Realtor and REO Conferences to learn as much as we can about our Realtor partners and their expectations when it comes to business transactions. On one of our trips we ran into a Lowe's representative. At first the rep had mistaken us for Realtors as many vendors do however after about 15 minutes into his presentation we stopped him and asked if the services he was offering was for mortgage professionals as well. Needless to say his answer was no but we walked away with an idea that most Realtors would love if given the … (6 comments)
Workshops are being held to preserve, enhance and revitalize Georgia's housing inventory in spite of the increase in foreclosures.
Alpharetta, GA. - Renovation Mortgage Plus (RMP) has announced that it has pooled all their resources to begin to educate Owner-Occupant Homebuyers in the communities throughout Atlanta and surrounding suburbs how homebuyers can now purchase, renovate and occupy Bank-Owned Properties by using FHA, Fannie Mae and Freddie Mac backed mortgage financing which the staff at RMP affectionately calls a Home Improvement Purchase Mortgages.
The free general public workshops are a results of RMP's effort to promote Owner-Occupant Homeownership … (0 comments)
rehab lending: For REO Agents Only (Georgia)
- 10/25/07 03:20 AM
Dear Agents: Allow me to introduce our company as experts in renovation lending. Our Home Improvement Purchase Mortgage's (HIPM) are ideal for REO inventory for many reasons. We have over 10 years experience in renovation lending and we are members of REOMAC. I'd welcome the opportunity to visit with you to share how we can help you sell your inventory faster. Regards, Diego Hodge, Wizard of WOW! … (3 comments)
rehab lending: You Never Know Who's Watching
- 10/25/07 03:06 AM
This an experience that I'm sure everyone could benefit from since we all are in the customer service business win which our success is measured in the amount of real estate that we transact. I recently met with a buyers agent and her client. The buyers agent has a current relationship with another mortgage company that provides traditional financing for all of her clients. We met only because her client was purchasing a foreclosure as a primary residence and this specific property needed minor repairs but the buyer wanted to extend a room and upgrade the kitchen which turned into major improvements. The … (5 comments)
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