hud: What does the FHA extended loan limits mean for Buyers?
- 10/25/11 07:43 AM
Believe it or not, there are some buyers still unclear as to what an FHA loan is, and how it can benefit them when purchasing a home. Read my attempt to be candid as to what it is, what is going on with it today, and how it can help. Well, let's see...say you are contemplating purchasing a new home, and you see alot of upgrades you want in your new home. Of course this will increase the price of the house by as much as the cost of the items. Agree? Now, lets say, your cost is $275k. At current … (0 comments)
hud: $100 Down...have you seen these signs?
- 03/28/10 03:57 PM
They're yellow with black letters, HANDWRITTEN, and ask you to call them to buy a house for $100 down. If you are someone thinking about buying a house for you and your family to live in, would you really want to buy a house from someone who hand wrote their message on a flighty sign, no company logo or contact info, that sits in the middle of a highway? Buying a house is more serious than responding to a handwritten sign on the side of the road. Purchasing a home should not seem comparable to getting a bargain at Macy's, or a discount at … (4 comments)
hud: Are Loan Officers Friend or Foe?
- 01/26/10 01:03 AM
With the new HUD rule in effect as of January 1, 2010 - "To Simply and Improve the Process of Obtaining Mortgages and Reduce Consumer Settlement Costs", I truly hope this is the final curtain to predatory lending and an end to shoddy lending tactics. When Buyers are blatantly lied to, and not educated on the loan products to which a loan officer either has no clue as to the pros and cons, but only is focused on closing the deal, we ALL as an industry suffer the consequences. Loan Officers, whether you are new in the mortgage industry or not, … (2 comments)
Believe it or not, there are some buyers still unclear as to what an FHA loan is, and how it can benefit them when purchasing a home.
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