The President officially signed Bill H.R. 5981 on August 11th, 2010 which became public law. I wrote about the actual changes to FHA loans and how it will affect borrowers as of October 4th, 2010. Please read : Bill H.R. 5981 passes - FHA Mortgages to increase it's annual mortgage insurance premium There has been a main problem in regards to the information being supplied since this bill was passed by the Senate, which was on August 4th, 2010. I have read several blogs out on the internet both by AR members and the news media stating that the … (12 comments)
Just last week, Assistant Secretary for Housing and Federal Housing Commissioner David Stevens announced that FHA was changing their annual mortgage insurance plan. - FHA announcement - I wrote about it here : HR Bill 5981 - FHA mortgage insurance. We now have some groups and people announcing these FHA Loan changes as a tax. Think Big Work Small released their version in this video on Monday. New Homebuyer Tax Starts September 2010 - 08.09.10 - Brian Stevens, from TBWS states this... "A tax that furthers HUD's Agenda." Sounds scary, right? Because it sounds like the government is … (19 comments)
FHA first proposed the monthly mortgage insurance changes in the beginning of 2010. Bill H.R. 5981 was first passed by the House in the spring and was just passed by the Senate the other day. What does this bill do for FHA mortgages? They have projected that it will yield approximately $300 million per month to the FHA insurance fund. So what are the new FHA changes? - For terms greater than 15 years - LTV's <= 95% will increase the monthly fee to 85 bps LTV's > 95% will increase the monthly fee to 90 bps And … (63 comments)
I just want to educate people about mortgages and the process.
In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.
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