Here is the updated list from Fannie Mae on PERS approved condos as of March 1st. There are a few additions to the list since December. If you remember, Fannie Mae has a task force dedicated to examining projects across the State to get them appoved. Once approved it allows us to do 80% financing […]
Tag Archives: financing
FHA 90 no filling rule change!
This is a great change, in the past FHA required a home be owned for at least 91 days before a buyer using FHA financing could write an offer. This prevented good buyer getting the home they wanted if they needed to use FHA financing to buy a home. Example: An investor purchased a home […]
FHA Financing Requirements – The Changes to FHA Financing Requirements For 2010
OK, there are some interesting changes which will take pace later this year to FHA financed loans. The government has been facing higher defaults with FHA insured loans over the past couple of year’s, in order to build up reserves they are making some changes. If you are looking to buy a home using FHA […]
FHA to provide early relief to struggling homeowners
WASHINGTON – Jan. 25, 2010 – At-risk homeowners with FHA-insured mortgage loans are now eligible for loss mitigation assistance before they fall behind on their mortgage payments. Previously, homeowners weren’t eligible until they missed payments. The Helping Families Save Their Home Act of 2009 expanded FHA’s authority to use its loss mitigation tools to assist […]
Lifelines dry up for mortgage lending
Jan. 25, 2010 – For more than a year, the government pulled out the stops to revive homebuying by driving down mortgage rates. Now, whether the housing market is ready or not, the government is pulling out. The wind-down of federal support for mortgage rates, set to end in two months, is a momentous test […]
First-Time Home Buyer Tax Credit Fraud
The General Accountability Office has reportedly frozen more than 110,000 first-time home buyer tax credit refunds pending civil or criminal examinations due to allegations of fraud. The main concerns are whether or not a home purchase actually took place and if the home buyer claiming the credit is technically a first-time home buyer as defined […]
Websites aid the search for a mortgage
Websites aid the search for a mortgage Click this link!
Federal program to help first-time buyers use tax credit for downpayment
WASHINGTON – May 13, 2009 – First-time homebuyers will soon have another option if they want to use their $8,000 tax credit toward a downpayment. On the tails of a Florida-created program that Gov. Charlie Crist is expected to sign into law, the federal government announced its own downpayment assistance program at the National Association […]