3/16/2011 10:51:00 AM
Great loan program for buyers ~ Chip Program~ no money down to buy home.
We just had our usual "Fat Tuesday" office meeting consisting of the regular glazed donuts, danishes and coffee as normal. What I did find new and interesting was the "Chip Program" offered by our local BB&T lender. I knew of the program, ...
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7/1/2010 1:38:00 PM
Congress has passed a bill extending the Homebuyer Tax Credit
I am happy to report that Congress has passed a bill extending the Home buyer Tax Credit closing deadline to September 30, 2010 . This is a huge win for REALTORS ® and home buyers, and NAR worked closely with members of Congress to make it happen. The ...
Views: 277
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5/10/2010 1:26:00 PM
Barclays Lowers REO Inventory Estimate
Barclays Lowers REO Inventory Estimate By: Carrie Bay 05/07/2010 A recent study by Barclays Capital says that U.S. lenders are holding fewer foreclosed homes than previously assessed by the research firm. Some are viewing the revised estimate as a testament ...
Views: 431
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3/26/2010 8:41:00 AM
Who is Eligible for HAFA?
Most homeowners in facing financial hardship are eligible. As a rule, if a homeowner is eligible for HAMP but cannot pay the mortgage, then he or she is eligible for an assisted short sale through HAFA. However, loans owned or guaranteed through Fannie Mae ...
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3/26/2010 8:35:00 AM
Details of HAFA
HAFA was introduced to simplify and streamline the short sale process. HAFA accomplishes this in the following ways 2 : Compliments HAMP by providing viable alternatives for borrowers who are HAMP-eligible Utilizes borrower financial and hardship information ...
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3/26/2010 8:31:00 AM
What is HAFA?
The Home Affordable Foreclosure Alternatives (HAFA) Program 1 is a government-sponsored initiative led by the US Treasury Department assisting all Home Affordable Modification Program (HAMP)-eligible homeowners in avoiding foreclosure, specifically through ...
Views: 246
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3/16/2010 8:19:00 AM
The new short-sale rules
What sellers can expect from participating lenders starting in April: -- Sellers must be unqualified for a loan modification under the Home Affordable Mortgage Program or be unable to afford the modification. -- The bank will set an acceptable value of the ...
Views: 228
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1/6/2010 1:57:00 PM
CANT PAY YOUR MORTGAGE...DEED FOR LEASE ANYONE?
Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year. The change announced Thursday could ...
Views: 627
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11/13/2009 8:42:00 AM
Home buyers using FHA~ update.
FHA has a federally mandated reserve requirement of 2%. The audit today (11/12/09) came out at having only 0.53% in reserves. It was expected to be less than 2% but not this low. This means we should be strapped in for a bit of turbulence with FHA. Unlike ...
Views: 224
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