ARCHIVED BLOG POSTS
2008
I've been speaking to Realtors and customers all week about the "rescue plan" and what it means to them. With all the negative talk in Washington it's too easy for us to assume getting a new mortgage loan is impossible. Please don't succumb to those thoughts. Despite the turmoil, mortgages are av...
09/26/2008
The last three weeks in the financial world have been monumental to say the least. Wall Street has been forever changed. Confidence in our economic system has been shaken to the roots and the Feds are now considering the largest "bailout" in history in an attempt to right the ship. What does th...
09/24/2008
FHA has changed the rules on recognizing rental income if a buyer chooses to rent their home to purchase another one. The changes are an effort to reduce the practice they call "buy and bail- where the homebuyer purchases, for example, a more affordable dwelling with the intention to cease makin...
09/22/2008
If you haven't been using the guaranteed rural development program, or if you are not familiar with its quirks, read on. The biggest things to remember about RD loans are: -Owner occupied only, not limited to first time buyers -Property must be within RD geographic guidelines. Anywhere in the U...
09/19/2008
Putting out a call to all the AR FHA pros. Do you know of any Lender, wholesale or retail, still doing the FHA Construction/Perm program? I'm specifically looking for Florida, but beggars can't choose... Any leads would be greatly appreciated! Gerry Suarez, Jr. Your HUD Loan Pro!
09/18/2008
This is a re-blog (with permission, of course) of some excellent information regarding the bid to re-establish seller funded down payment assistance provided by Richard Smith. Thanks Richard for the great info! Seller funded down payment still needs support Yesterday the House Financial Services ...
09/17/2008
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Comments
This comes in courtesy of Bob Coorsden and our USDA friends in Gainesville, FL. He has issued a very informative email relating the current state of affairs. There are a number of attachments to the original email I would be happy to forward on but you can copy most of it from here. This link i...
09/12/2008
HUD's new mortgagee letter (ML) clarifies the new down payment requirements pursuant to the July Housing Bill. All minimum downpayment calcs are now the same, regardless of state. The new maximum FHA loan amount will be 96.5% of the pur...
09/11/2008
You have until September 24, 2008 to register for benefits under a class action settlement against Transunion. Benefits being offered include credit monitoring, a portion of a cash settlement or both. A hearing set for September 10, 2008 should finalize the terms but you must register for benefit...
09/08/2008
Much conflicting information misinformation is being spread regarding the demise of the Nehemiah and Ameridream type Seller Funded Down Payment Assistance Programs (SFDPA's). We all know the recently passed housing bill prohibits the use of these SFDPA's as of 10/01; however many lenders have ...
09/05/2008
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Real Estate Resources
Local information regarding Mortgage lending in Central Florida including Orange, Seminole, Osceola, Lake, Volusia and Marion Counties. Also providing up to date information on HUD and government loan programs, and first time buyer programs. I'm required to tell you I'm not acting on behalf of HUD/FHA or the US Government!