1/30/2012 9:29:00 AM
What is a Short Sale?
In some areas 50% or more of homes that are closing are
distressed, a short sale or foreclosure. By definition, a short sale is “a situation
where a borrower owes an amount on their property that when combined with
closings costs and commission is higher ...
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1/27/2012 9:24:00 AM
What are my options If I can’t make my mortgage payments?
While it may seem like you’re on a sinking ship, there are
viable options for homeowners who can no longer make their payments. In the
next few posts I’ll be discussing these options in detail. No matter which
option you choose, always, always ...
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1/20/2012 1:48:00 PM
HOW CAN I CONTACT HUD?
To
contact the Housing and Urban Development Department you can
visit the website at www.hud.gov . HUD has many offices around the country. You can get most information you'll need by visiting one of their offices or checking out the website. There are ...
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1/18/2012 9:06:00 AM
HOW CAN I OBTAIN AN FHA-INSURED LOAN?
To
obtain an FHA loan contact an FHA approved Lender such as a participating mortgage
company, bank, savings and loan association, or a thrift. The offers and
possibilities that you can get from the FHA. An FHA loan is more accessible to a wider range of people ...
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1/16/2012 10:45:00 AM
WHAT OTHER LOAN PROGRAMS DOES THE FHA OFFER?
In addition to the mortgage loans that the FHA offers , they also insure loans for the purchase or rehabilitation of
manufactured housing, condominiums, and cooperatives. The FHA also offers
programs for urban areas, disaster victims and members of the armed ...
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1/13/2012 12:13:00 PM
WHAT IS A TITLE 1 LOAN?
To make non-luxury renovations and repairs to your home, a Title 1
loan is used. This type of loan is given by your lender and is insured by the FHA. It offers
a reasonable interest rate for the homeowner and also a manageable repayment
schedule. The availability ...
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1/9/2012 2:39:00 PM
WHAT IS AN ENERGY EFFICIENT MORTGAGE (EEM)?
To help the borrowers save money in the future, the Energy
Efficient Mortgage or the EEM was developed. Borrowers save money by financing
the cost of adding energy-efficiency features to a new or existing home
purchase. Either the 203 (b) or the 203(k) loans ...
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12/27/2011 3:45:00 PM
WHAT IS A 203(b) LOAN?
The loan 203(b) is most commonly used FHA loan program. This
is the most popular loan of the FHA. This loan offers lower than usual
down payment and has flexible qualifying guidelines. Also this loan has
limited lender’s fees and also a maximum loan ...
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12/21/2011 11:51:00 AM
WHAT IS PMI?
PMI is Private Mortgage Insurance / Insurer. Privately owned companies that provide insurance for mortgages. There are
different insurances available - standard and special programs for
borrowers. Also they provide rules and guidelines to the lenders regarding ...
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12/20/2011 8:42:00 AM
WHAT PROGRAMS ARE AVAILABLE TO HELP FHA BUYERS?
To answer
any question that you have regarding the HELP program from the FHA, you can ask
your lender or your real estate agent. They can provide you with all the
information that you may need in order to clear any questions that you have in
your head. HELP ...
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