renovation: Temporary waiver of certain part of FHA property Flipping rule
- 07/09/08 10:37 PM
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 this does not apply to private investors or any otherindividuals, who still must wait the 90-day seasoning period before they cansell a home with FHA financing. Also, the two appraisal requirement (whenapplicable) is still required for private investor sales.Temporary Property Flipping Waiver:The temporary waiver of the property flipping rule will permit lenders tomore easily sell properties acquired as … (2 comments)
renovation: 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)
renovation: HUD $500.00 Bonus Incentive
- 11/18/07 12:12 AM
AttN: Georgia Real Estate Agents THE NEWS YOU NEED IS HERE!! AWESOME and FANTASTIC agent and buyer incentives on HUD Properties!! 1. ONLY ONE-HUNDRED DOLLARS DOWN-PAYMENT FOR HUD HOMES!! 2. YOU GET A FIVE-HUNDRED DOLLAR BONUS ON ALL FHA 203(k)REHAB OFFERS (GUESS WHAT? WE SPECIALIZE IN FHA REHAB LENDING - WE'RE AWESOME AT THEM) Give us a call today at 770.753.6239 to find out more about the FHA 203(k) Click here for more info on the HUD Incentive … (1 comments)
renovation: 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)
renovation: 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)
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)
renovation: 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)
renovation: Ten Commandments of GREAT Business
- 10/18/07 01:00 PM
We use this as a philosophy at our organization. For our Realtor and Borrower clients we uphold the exact same values. I feel that this is incredible enough to share because I am also a customer in many situations. Ten Commandments of Great Business 1. A CUSTOMER is the most important person in ANY business; 2. A CUSTOMER is not dependent on us-- we are dependent on him; 3. A CUSTOMER is not an interruption of our work-- he is the purpose of it; 4. A CUSTOMER does us a favor when he calls-- we are not doing him a favor by serving him; … (8 comments)
renovation: Thanks to everyone!!
- 10/18/07 12:52 PM
On behalf of myself and Renovation Mortgage Plus I want to thank everyone who attended the REOMAC Conference at the Westin Diplomat in Hollywood, Florida this past week and dropped their business card in our truck. We also had over 200 people register for our online giveaways including a Golf Package, Spa Package, AMEX Gift Cards and Bar Tabs. We appreciate all of the support that you have given us and our Home Improvement Purchase Mortgage programs and we wish you continued success. If there is anything that we can do to assist you with growing your business, just let us know. -Diego … (1 comments)
renovation: Who are you...really? My Challenge to you.
- 06/11/07 10:46 AM
When you actually sit back and think about it real estate professionals in their respective sectors generally can provide the same resources as the next. For example Real Estate Agents either list home or bring in buyers, mortgage professionals have access to finance but pretty much the same loan programs, appraiser, title companies, inspectors, etc. are pretty much the same. Just think about it, there is nothing fantastic about the resources that we have access to or use to market ourselves. What sets each and every one of us apart is the system, the service and the passion behind what we … (2 comments)
renovation: The Art of the Thank You
- 06/10/07 03:12 PM
I would like to share a technique that is not new however it is effective with generating quality leads and awareness of your personal brand. I was recently at a restaurant with a real estate agent friend of mine discussing the next 6 months of 2007 and what our goals and objectives were. Our waitress was excellent and performed over and above our expectations to the point that we both commented her and thanked her for her service. As usual at the end of the meal I signed the slip for the bill and left my business card. Upon leaving the … (11 comments)
renovation: Face Time
- 06/06/07 12:38 PM
My colleague, who is Mortgage Coach at Renovation Mortgage Plus, had a buyer who was referred to him buy a current client. After he was able to get a Firm Lender Commitment Letter (FLC) from the underwriter on the buyer he contacted an agent and sent approval letter verifying that a FLC was on file. What happened after that amazed me. The agent sends the buyer a list of homes to choose from rather than going to pick up the buyer and spend some personal time with him accessing his goals and objectives. I feel like the Great Jerry McGuire when I say "Where is the Personal Attention?" Where is the love. … (2 comments)
renovation: How to Score with a Mortgage
- 06/06/07 01:18 AM
There are thousands of horror stories that are told regarding the home buying process especially when it comes down to mortgage financing. Many of the stories of fraud, closing table surprises and predatory lending situations could have been avoided if home buyers were empowered with the knowledge of how mortgage financing really works. If you are purchasing your first home as a primary residence or getting your "feet wet" in the world of investment property purchases knowing how mortgage financing works with put you steps ahead. When you are building your team for the purchase of a home and your team … (0 comments)
renovation: BUYING FORECLOSURES: THE OWNER-OCCUPANT WAY
- 06/06/07 01:07 AM
Workshops are being held to preserve, enhance and revitalize Atlanta's housing inventory in spite of the increase in foreclosures.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 First Mortgage.The free general public workshops are a results of RMP's effort to promote Owner-Occupant Homeownership. RMP is utilizing local libraries, church's and community center … (0 comments)
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 this does not apply to private investors or any otherindividuals, who still must wait the 90-day seasoning period before they cansell a home with FHA financing. Also, the two appraisal requirement (whenapplicable) is still required for private investor sales.Temporary Property Flipping Waiver:The temporary waiver of the property flipping rule will permit lenders tomore easily sell properties acquired as … (2 comments)
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