Posts By Jeff Mifsud
Location
Michigan
Posts
FHA may shut the door on home buyers and make the loan less affordable for home buyers that want to use an FHA loan. The Federal Housing Commissioner announced on January 20, 2010, that FHA may decrease the amount of closing costs the seller can pay for the buyer. In addition the financed mortgage insurance that [...]
After hearing another radio ad soliciting struggling homeowners to help them with their loan modifications, I just had to write something to educate people on how loan modifications work. By having the right information you can avoid loan modification companies and save thousands of dollars. Most loan modification companies take advantage of the fact that [...]
In this article home buyers using FHA financing will learn about some of the challenges they will face when bidding on foreclosures. The article will offer a perspective especially for first time home buyers who most often use FHA mortgage loans.
The $8000 tax credit: Can a West Bloomfield MI home buyer use it as a down payment? Well…if you ask the federal government they will say “YES”!, but if you ask any first time home buyer trying to purchase in West Bloomfield, Farmington Hills, Farmington, Livonia or anywhere, they will tell you “NO”! Why is this?
FHA Mortgage and Tax Credit a Winning Combination for Southfield MI First-Time Home Buyers. The tax credit became available through President Obama’s economic recovery plan of 2009. This tax credit is available to anyone that has purchased a home between April 8th, 2009 and December 1st, 2009. The first-time home buyer tax credit rules differ between purchases [...]
If you’re a first time home buyer in Royal Oak, MI, you need to know about the benefits of using FHA mortgage loans to get great deals on homes. Even though getting approved for your first home loan can be a challenge, FHA has remained the loan of choice for first time homebuyers in Michigan. I [...]
With all the craziness going on in the mortgage and housing industry, it’s good to know that Michigan FHA mortgages remain the best option for first time home buyers in Farmington Hills, Michigan. One of the things that got the mortgage industry in trouble was how banks verified the bank statements for the home buyers…or [...]
If you are buying a home in Michigan, then you need to understand the credit requirements for FHA loans. FHA Underwriters are the people that work for the FHA mortgage lenders and make the decisions on loans. Although FHA loans are one of the easiest loans to get in today’s real estate market, you still need [...]
First-Time Home Buyers in Livonia, Michigan can take advantage of the low FHA mortgage down payment requirements for 2009. With a minimum down payment requirement of only 3.5%, FHA mortgage loans have remained the Michigan first-time home buyer program of choice due to the flexible high Loan-to-Value guidelines. Given all the craziness that is going [...]
Jeff Mifsud Michigan FHA Expert Phone: (248) 320-9811 Email: jeff (at) mseminars.com .. ____________________________________ About Jeff Mifsud: Jeff is an industry educator and publishes a monthly newsletter for Mortgage Loan Officers called The FHA Originator. He is a former FHA Direct Endorsed Underwriter trained by HUD and was successful FHA originator in Michigan for over [...]
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