IT’S A SHOWDOWN…THE BULLS VS. THE BEARS. But we’re not talking about the Chicago Bulls who were recently knocked out of the NBA playoffs. We’re talking about the Bull Market that Stocks have enjoyed over the past months…that is now slipping back lower. read the full article Share var button = document.getElementById(‘facebook_share_link_154′) || document.getElementById(‘facebook_share_icon_154′) || document.getElementById(‘facebook_share_both_154′) [...]
ShareFHA is making some changes that will impact buyers. Starting April 1st, 2010 FHA will change the minimum down payment for credit scores that are under 580. FHA will now require 10% down for these borrowers. Since they are the only investor who offers this type of financing, I expect their 21 days in underwriting [...]
ShareEveryone is talking about going green these days. FHA has wanted homeowners to go green for years. FHA has for a long time offered the EEM ( Energy Efficient Mortgage) and recently have increased the amount of the EEM homewoners can use. The new FHA EEM is a loan that lets homeowners finance up to [...]
ShareAre you buying a home or ready to refinance and you want to be “Green” about it? How can a Mortgage Loan be “green”? When dealing with a mortgage, the most common “green” items most people are interested in is the green backs in their pockets. A Green mortgage is a mortgage that rewards a [...]
ShareWhen a FHA (Federal Housing Administration) loan goes to foreclosure and is taken back by FHA, they are in a hurry to sell that property. Just like every lender, FHA is not in the business of owning and selling homes. Since FHA wants to sell these homes as soon a they can, FHA offers [...]
ShareEffective April 5th, 2010, for new 30 year FHA loans, FHA (Federal Housing Administration), will be raising their upfront mortgage insurance premium(UFMIP) from 1.75% where it currently stands, to 2.25%. What this increase means for FHA borrowers, is that on every $100k borrowed, the UFMIP fee will add an additional $500 in costs which will [...]
ShareFor as long as I can remember, there has been difficulty with FHA purchasing investor flip properties. An investor flip is a transaction where an investor buys a home at a discount, normally in a distress sale and then quickly turns around and sells the home for a profit. Most times the investors performs cosmetics [...]
ShareOver the last few weeks, I have seen several loan guidelines loosen up. This is a much needed change since in the last 18 months, we have seen constant guideline tightening. To be fair, it is not just lenders, it has also been the mortgage insurance companies that have tightened up. The latest change for [...]
ShareHome buyers that are putting down 5% for their loan, NOVA Home Loans will require minimum trade lines on the buyers credit report. A trade line is a credit reference that reports to the credit bureaus. An example of a trade line is a credit card or loan that reports the payment history to the credit bureaus. [...]
ShareLast Week in Review: Events in Europe continue to dominate the economic headlines. Find out what it means for our economy and home loan rates.Forecast for the Week: A double dose of inflation data is on the way, and more news from the Eurozone is sure to be in store…plus updates on housing, manufacturing and [...]
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