fha mortgage insurance: www.lasvegasmtg.com Report: Great News for Las Vegas Home Owners
- 01/03/13 05:02 AM
By John Le Francois www.lasvegasmtg.com Report: Great News for Las Vegas Home Owners. Tucked away in the fiscal cliff deal were some extensions that will give Las Vegas homeowners some relief for at least one more year. When the fiscal cliff was ratified by Congress on January 1 and signed into law on January 2 by Pres. Obama was the reinstatement of the Mortgage Debt Relief Act and the Deductibility of Mortgage Insurance.Mortgage Debt Relief ActThe mortgage debt relief act was originally instated in 2007 to assist homeowners avoid paying income tax on the difference of the house that was sold … (0 comments)
fha mortgage insurance: www.lasvegasmtg.com Report: Recent FHA changes impacting Las Vegas, NV.
- 04/28/12 05:47 AM
www.lasvegasmtg.com Report: Recent FHA changes impacting Las Vegas, NV. By John Le Francois www.lasvegasmtg.com Report: Recent FHA changes impacting Las Vegas, NV. has caused some home buyers to scale back their purchasing power due to increases in FHA Upfront Mortgage Insurance Premium (UPFMIP) going up from 1.00% to 1.75% and the annual mortgage insurance going up from 1.10 to 1.25% with a 3.5% down for a 30 year loan. This increase was implemented for all case numbers issued after April 12th, 2012. For the first time HUD has implemented a two tier Annual Mortgage Insurance Premium that is dependent on the loan amount, LTV and the terms … (0 comments)
fha mortgage insurance: www.lasvegasmtg.com Report: Help for FHA underwater home borrowers in Las Vegas Nevada
- 03/17/12 08:05 AM
www.lasvegasmtg.com Report: Help for FHA underwater home borrowers in Las Vegas Nevada will be coming on June 11, 2012 that had taken out a FHA loan prior to May 31, 2009. President Obama Administration on March 16th, 2012 announced the new FHA Streamline program to help current FHA home owners to be able to refinance to the currently historically low rates that wasn't possible until now. This was due to the increased current Upfront Mortgage Insurance Premium and the annual premium that are currently in place. Recently I had pulled a farm list of FHA Home Owners for loan amounts above $150,000 and interest rates higher … (0 comments)
www.lasvegasmtg.com Report: Republican Politicians want FHA To Increase Down Payment from the current 3.5% to 5% and are proposing this through discussion on Wednesday Housing Financial Services Committee hearing led by Judy Biggert (R-Ill.) Last year Congress tried to increase the FHA Down Payment required, but it was removed from the bill when the President Obama threatened to veto the bill if left in. The Republican led proposed increase to the down payment is based on the argument that FHA would not be in jeopardy of … (3 comments)
fha mortgage insurance: www.lasvegasmtg.com Report: FHA Annual Mortgage Insurance Increase
- 03/29/11 07:02 AM
www.lasvegasmtg.com Report: FHA Annual Mortgage Insurance Increase by John Le Francois www.lasvegasmtg.com Report: FHA Annual Mortgage Insurance Increase will be enacted on 04/18/2011 and will increase from .90 (current rate) to 1.15%. In 2010 Congress provide FHA the ability to raise the annual monthly premium from .55% to 1.25% of the loan amount. This was to cover the required mandate that there be a 2% reserves of all existing FHA home loans to cover any losses due to Foreclosures or Short Sales. This will be the third increase in less then 12 months and it may reach the maximum allowed fee set by … (0 comments)
www.lasvegasmtg.com Report: FHA Loans will be costing more starting April 18, 2011 in Las Vegas, Nevada. FHA Mortgagee Letter 2011-10 dated February 14, 2011 details the new Annual Premium for Mortgage Insurance. Effective with all new FHA case numbers issued after April 18, 2011 the Annual Premium will go up based on the following criteria. The purpose of the new changes is based on the legislative mandate 202 of the National Housing Act to make FHA financially sound and to insure the FHA loan … (0 comments)
By John Le Francois
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