Knowing how much home you can afford is critical to determining your homebuying decision. Even if you have prequalified for your home purchase, you may want to have your information reviewed by your mortgage lender to determine if there are ways you can be qualified for a higher amount or lower i
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01/29/2010
HUD announced this week several major changes for FHA loans later this year. Some of this items will not go into effect for several months but are worth noting. Overall, HUD is doing the right thing to keep themselves in business and help consumers be able to purchase homes. 1. Up-front MIP will
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01/29/2010
You've found the foreclosure home you're looking for and are ready to purchase. He are formulas to help you as prepare to move forward with the purchase of your foreclosure home: Foreclosure Home Bidding Rules If you are looking at a bank foreclosure, then the rules of bidding are fairly simple.
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01/29/2010
There is a system to purchasing foreclosure real estate that can be broken down into six basic steps. Following these steps will simplify a foreclosure real estate transaction while avoiding common mistakes made by the typical consumer. Step 1 The pre-approval process. The most common mistake mad
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01/29/2010
Regardless of what some say about your house not being an investment, you should still try to save as much as you can when making ANY purchase. This is especially true in today's market and especially if the purchase is as expensive as a house. Foreclosures offer the oppotunity for significant co
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01/29/2010
Are you ready to purchase a home? Ask yourself these three questions: 1. Does this foreclosure home meet my minimum requirements? 2. How much does it cost to buy this foreclosure home initially? 3. How much will this foreclosure home cost per month? If you have already answered these questions, t
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01/29/2010
In a move to bolster the struggling real estate market, Congress passed legislation in the last week of 2009 to increase federal support to Fannie Mae and Freddie Mac, the two largest players in the American mortgage industry. While widely considered a positive step by many in the housing industr
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01/28/2010
States hardest hit by foreclosure, as reported by the AP: 1. Nevada 2. Florida 3. California 4. Arizona 5. Idaho 6. Michigan 7. Illinois 8. Utah 9. Maryland 10. New Jersey
01/28/2010
USHUD.com and its parent compay, Heavy Hammer, Inc., recently completed an internal study that revealed some numbers should really interest potential homebuyers and those assisting homebuyers. Comparing the average asking price of thousands of foreclosure homes to tax assessment values and the
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01/28/2010
The advantages of being a first time homebuyer are plentiful and can be utilized if you know and understand your options and the ways in which you can save money. Lower Interest Rates For First Time Homebuyers As a first time homebuyer, you are offered far lower interest rates than an investor. I
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01/28/2010
