financing: What will be the result of the latest forclosure irregularities?
- 10/08/10 08:44 AM
It appears that banks have gotten themselves into another fine mess. In an effort to either cut corners, or possibly as a result of inability to produce required documentation, there appears to have been a little fraud. The results are, at least temporarily, that foreclosure activity has come to a screeching halt among several of the nation's largest foreclosure artists. Now what happens? All I can do is a little poorly educated speculating. If the bulk of the pending foreclosures stop and then get the green light to continue sometime in the future, all at once, will there be a sudden … (2 comments)
financing: No Down Payment and no mortgage insurance in many Dakota County locations
- 10/03/10 05:53 AM
The USDA's Rural Development programs cover, among other areas, individual single family home mortgages. Like FHA, they guarantee home purchase loans. Unlike FHA loans, Rural Development guaranteed loans can be obtained with no down payment and no monthly mortgage insurance. The loans are fixed interest, thirty year terms. Can you qualify for a Rural Development loan? Like any financing program, there are certain requirements that you will need to meet. The main issue in Dakota County is that only homes in the southern portion are eligible. The area approved for Rural Development financing begins at approximately 230th Street. Property south of … (0 comments)
financing: Help with home buying in Rice County
- 09/28/10 06:02 AM
If you're looking to purchase a home and don't think you have enough cash to make it happen, there may be help available. There is a division of the Department of Agriculture called Rural Development which now has funds to provide loans at low interest rates with zero down payment and no monthly mortgage insurance. There are some fairly liberal qualification requirements, but most of the folks who have contacted me can easily qualify. Just because it's the Department of Agriculture, don't think you have to buy a farm. Most residences in Rice and southern Dakota and Scott Counties qualify for … (2 comments)
It appears that banks have gotten themselves into another fine mess. In an effort to either cut corners, or possibly as a result of inability to produce required documentation, there appears to have been a little fraud. The results are, at least temporarily, that foreclosure activity has come to a screeching halt among several of the nation's largest foreclosure artists.
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