This morning I decided to do some research on a few topics related to FHA lending in Arizona. When I do this, I usually follow this process: I start with my personal understanding of the topic based on recent information that I’ve read or heard. I then research what others are saying on the Web [...]
A short sale is a transaction where a seller sells the property for less that what was owed. Short sale is increasingly becoming a common option to sell a house in San Jose and rest of the Bay area. If you went through a short sale you could have this question – Do I now [...]
Is USDA underwriting becoming more conservative? I believe it is. Recently I have seen examples of USDA Guaranteed Rural Mortgage Loans that were turned down by USDA for reasons that have not been an issue previously to my knowledge. Because of the increased interest in USDA Guaranteed Rural Mortgage Loans as one of the very few 100% financing options out there, the review process appears to be getting stricter. So, if you are looking for a no money down loan, you should be prepared for the extra scrutiny during the process.
2010 may bring possible changes to FHA loan requirements. Here are the changes currently being considered: 1. Many lenders currently have the minimum FICO credit score requirement set at 620. An increase in minimum FICO is possible. 2. Currently 3.5% is required for a minimum down payment. This could increase with speculation it will go to [...]
Announcing a new Oregon Reverse Mortgage Information website: Laurie Willis, Alpine Mortgage Planning Reverse Mortgage Specialist, and I are developing a new website about the senior citizen Reverse Mortgage process. We started with an outstanding flow chart and will be adding information and trying to go through some of the pitfalls and stumbling blocks having to do with a Reverse Mortgage in Oregon. The name of the site is Oregon Reverse Mortgage Info and should be beneficial in answering questions.
Recently, the U.S. Treasury announced some new measures to assist homeowners that are having trouble making their mortgage payments. They specifically address two areas of concern with programs aimed at alleviating some of the roadblocks that these borrowers are facing. One of the focuses is on loan modifications. This is a scenario where the lender modifies [...]
For those VA eligible homeowners in Orange County, the VA Cashout refinance program has several advantages over a Conventional (Fannie Mae or Freddie Mac) cash out refinance. Being eligible for a VA loan is required of course, but even if a VA eligible does not currently have a VA loan, they should seriously consider choosing [...]
A Boise, Idaho FHA Reverse Mortgage Senior Home Loans is a great way for anyone over the age of 62 to enjoy their retirement and not have to stress as much about money. With an Idaho Reverse Mortgage it frees up the options available for anyone over the age of 62 so that they can [...]
Fannie Mae’s HomePath REO Program is Great for Boise, Idaho Investors with As Little As 15% Down on Investment Properties. That is right only 15% down on investment properties when you purchase a home path eligible property and go with Home Path financing. This is not only a great program for investors but for homeowners [...]
Changes are coming for Boise, Idaho FHA Mortgages. There is a lot of pressure out there in the mortgage markets. Many are referring to FHA mortgages as the new “sub prime” lending and many feel that FHA mortgages may be the next to implode. As unlikely as this is there are several changes that are [...]
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