are the FHA 203k loans as strong as they ever were?What can we say about that? Yes, and No is the right answer. Why is that? Originally the 203k was intended for borrower's that were credit challenged. That is no longer the case, many and I do mean many, borrowers these days just want to have some work done asap after they own the property.What are the options then if not the FHA 203k, how about the Fannie Mae HomeStyle® Renovation Mortgage is the most common alternative to the 203k but it only covers to the FHA loan limits or the Fannie Mae limits. What happens when you have a home where the list price is greater than those limits? There are a number of alternatives but the most popular is portfolio lenders who lend to their banking clients up to $3,000,000 and that includes purchase o... 11/16/2019

What happens when an FHA 203k loan goes sideways?We hear all kinds of stories and everyone wants to lay blame on someone else when these loans go side ways and go sideways some to.1) One our our associates in NJ called me and his client called him to say they were ready for a draw inspection, they had about $30,000 ready to draw. He gets there and finds that not one thing on his scope of work was completed.  Not one thing. Wow, I asked how much did you pay for the things that were completed... his answer was "nothing" and he was exactly correct.YOU must do what is on the scope of work. That is what the appraiser expects to see when they go out to complete their final inspection. 2) Same inspector in NJ called a week later with the same issue, another client did the same thing. The contr... 05/29/2017

VA Mortgage Loans in Acton  CA and 100% VA Loans -the best loan program in the country! VA Mortgage Loans are one of the best mortgage loan programs available today for both honorably discharged Vets and active duty military personnel. Here are some of the great features of this fantastic program: - Up to 100% financing, with no down required. - No monthly mortgage insurance added to your payment. - More lenient credit qualifying standards than other types of mortgage loans. - Low rates compared to other loan programs. So how do you qualify for a VA Mortgage Loan in Acton  CA? The first step is to verify your eligibility. Eligibility is verified by ordering your Certificate of Eligibility or COE. You can work with an approved Windsor  CA VA mortgage loan lender to order your COE quickl... 04/28/2015

A forced air unit on a 203k I was working on was gutted. They took the blower, motor and circuit board. What can my client do? I'm afraid this is an insurance matter for the contractor. The contractor should have "work in progress" insurance to cover this. The home owner's policy might also cover the theft but that is what it is. You, as the consultant don't have anything to do with this issue.  11/16/2014

Who can actually close a renovation loan fast in Los Angeles County? There are lots of lenders who profess to be able to close a renovation loan quickly and then there are those who actually do close them quickly. But remember it isn't all on their shoulders, your client or the client must take an active role in getting their financial data to the lender promptly. The clock starts ticking once that info reaches the lender.  It isn't all about the FHA 203k it is about "renovation lending" and includes the Fannie Mae HomeStyle® Renovation loan.  It is all about the team you put together when it comes to closing loans fast or faster than the competition. What is the average number of days that you close a renovation loan would be a fair question for your loan officer. The team that consist... 07/18/2014

Borrowers are doing their homework much more than ever with their expertise in computers searches and so forth but there are many aspects of the FHA 203k program that some think they can save a penny but doing it themselves then bringing in the consultant at the last minute to wrap things up. I don't recommend this for anyone. There is a reason for the consultant and it is so important that you KNOW the program before you start making decisions that can bite you. Example 1: You read the guideline on mixed use buildings and understand that there is a maximum of 4 units. You thing this could be one commercial unit and three residential units. That is what you read but you just didn't read far or long enough. It is a maximum of 4 residential units and commercial is relegated to the first l... 11/23/2013

As you likely already know the FHA 203k is one of the renovaiton loan products that allows for money to purchase or renovate a 1-4 unit building and get that money to make those repairs all in one low interest loan.Just spent last week in Los Angleles, Steven Laszlo, one of our teammates that covers the Los Angeles Bason or Greater Los Angeles Area. If you aren't aware of it in the "City of Los Angeles" not the county, there is an assistance program that could provide up to $30,000 for qualified home buyers. If you think you might be qualified get hold of Jeff Clark at Wells Fargo as he has a handle on this one. There was so much interest in FHA 203k loans in Los Angeles that it seemed to me to be a wide open market. Yes, I'm aware there are a number of consultants working the area but ... 03/31/2013

Where: Southwest Los Angeles Board of Realtors 4437 W Slauson Ave, Los Angeles, CA 90043, When: March 26th at 9:00 am Please join us, I guarantee you will go away with a new view of the FHA 203k loan pogram. How to find properties when there are none on the MLS... lots of them, then list or sell them for the owner(s) How to finance your investor properties How to finance mixed use buildings with only 3.5% down to over $1.4 million Add a detached garage, no problem Purchase a home worth $1 Million or more and renovate Jumbo SFR loans up to $729,750 with 3.5% down, low 30-year rate fixed rate interest Fourplexes up to $1.4 million with 3.5% down All of these are good for refi too. Sold a home recenty that needed lots of work we might be able to get the $ to fix it with no more money out o... 03/21/2013

SHORT SALE LOS ANGELES COUNTY CA REAL ESTATE SHORT SALE AGENTS - LOS ANGELES COUNTY CA Times are tough, and many distressed homeowners in Los Angeles County California are having trouble paying their mortgages every month. Are you one of them? Are you behind on your mortgage payments now? Are you in danger of missing a mortgage payment? Don't let foreclosure happen to you- explore the Los Angeles County CA Short Sale Option instead, but don’t wait; the biggest killer of the short sale negotiation is waiting until it’s too late to process the short sale. You’re also going to want to hire the best Los Angeles County CA Short Sale team in Southern California to help you with your difficult situation, at NO CHARGE TO YOU! We do not charge you for our real estate short sale services: we coll... 08/13/2012

Wondering What a Los Angeles CA Short Sale Is and How It Can Help You? Los Angeles Short Sale Are you worried about foreclosure on your Los Angeles CA house? Is your Los Angeles house under-water? Have you missed mortgage payments, or having difficulties paying them? Have you experienced a loss in income, unexpected expenses, divorce or other hardship? Do you just want out of your Los Angeles CA house and it's payments? We can help! Call us today to discuss your Los Angeles real estate options: (888) 9-List-It. That's (888) 954-7848. Get the commitment to quality customer service you deserve. A successful Los Angeles CA short sale transaction requires experience, patience and the ability to find solutions. As your Los Angeles listing agent, we will provide you the following professional... 06/06/2012

Lloyd Cullen Real Estate is a local Acton Short Sale Realtor. As a Acton Short Sale Company that specializes in short sales, you are assured the highest standard of professionalism and can always count on our Acton Short Sale Realtor to help answer any questions you have in regards to Acton Short Sales. Acton Short Sale Realtor Lloyd Cullen is a local Acton Short Sale Expert with experienced Acton Short Sale Agents here to assist you.   Acton Short Sale Realtor We specialize in Short Sales for Acton and Surrounding Areas If you are currently in financial straits when it comes to your current Acton mortgage and you live in the Acton area, you may be seeking a Acton Short Sale Expert. You are not the only person in the Acton area that we have offered assistance to. In fact, we are the aut... 05/28/2012

203k checklist for improvements203k Consultant's cornerIt is always interesting to see how new consultants, and some not so new, will ask on a public forum if anyone has a "checklist" they might use to help them Why, you wonder?When you take your training as a consultant, you also have to certify that you have read and understand the guidelinew... the checklist is one that is part of that reading, that certification, so how is it they don't know where it is... lol.I know and understand how things can get missed when you are reading fast and rushing to complete and assignment but really... I do have to laugh. So I'm posting the HUD/FHA 203k Rehab Checklist for anyone who is having trouble finding it or wonder if it even exists... it is also on my webiste, on the "helpful links" page. By ... 07/03/2011

We have been providing 203k consultations since 1994 throughout Northern CA and in 1995 trained a large group of consultants in the Los Angeles CA area. There were 33 in that class. At the end of the class I got everyone's attention with "only 10% of you will actually take this knowledge and move forward with it and actually become a 203k consultant". Three people came up to me at that meeting and said "I'm part of the 10%". They all became consultants and to this day I have them among a group I call my close friends. I'm very proud of the relationships we have made in that area and the on going communications we have with these consultants. I typically talk to them about once each month or two and have since 1995.  The other day I received a call from a lender who was in a  bind to get... 12/11/2010

Did you ever have the' hungry horrors'? Did you ever have the ‘hungry horrors'? IF you did, then you can relate to my experience.  This past Saturday, we were driving back from Palmdale, CA. As you might know there is a number of animal safe havens, hence the visit to Palmdale, CA) at the same time I was checking out the number of for sale signs. It seemed there was less for sale signs, than a few months ago. Sadly there were more for sale signs than Joshua Trees. Anyway, I was starving so on the way back to Marina Del Rey, CA.  I saw this really great Water Tower with a McDonald's Logo. Had to pull off the 14 highway and satisfy my hunger as well as my curiosity of this place. After my large fries and chicken sandwich and the viewing of this Western Style McDonalds, we were back on the... 09/14/2010

3801 Smith Ave Acton CA 93510 3 beds, 2.0 baths, 2,191 sq ft just listed!! $254,900!!! http://tinyurl.com/yhnuhjp 10/27/2009

Please Visit my website: Acton And Agua Dulce Real Estate. 12/11/2007

 The standard mortgage application used in california and most other states is known as the Uniform Residential Loan Application. We call it the 1003 for short due to that being the acutal form number. For any loan to be underwritten or approved this must be provided. In the closing documents a client signs these forms as verification that the terms of the loan and the closing costs are agreed upon. There are four total pages on this report but they are divded into 10 indivdual sections.  Section (1) --- Type of Mortgage and Terms of Loan --- This part explains the type of mortage applied for along with the note rate, loan amount and term. Section (2) --- Property Information and Purpose of Loan------ THis explains if the property is a SFR , R-2. R-3. R-4 along with the address and the ... 11/27/2006