'Jumbo' limits set to drop, making larger loans more costly
If you are shopping for a home in a high-cost area or plan to refinance a large home loan, hurry up and close the deal soon. In October, large loans, so called “jumbo” mortgages, could cost you an...
View ArticleReexamining your refinancing options
Record low interest rates are prompting many homeowners to refinance. Should you join the crowd? On Sept. 13, 2011, Erate.com reported rates for 30-year fixed rate mortgages (FRMs) were as low as 3.65...
View ArticleHomeownership possible within three years after foreclosure
Losing your home can be devastating to your credit, not to mention your psyche, but you can buy again within as few as three years after a foreclosure or short sale. It’s not surprising when you lose...
View ArticleSay ‘Goodbye’ to low jumbo loan rates
The rules have changed for home buyers and refinancing homeowners. In early February, President Barack Obama announced the federal government’s plan to phase out government-sponsored mortgage lenders...
View ArticleFHA loan ceiling back to $729,750
President Obama signed legislation to restore the maximum home loan limit of $729,750 for federally insured loans, but only for Federal Housing Administration Loans (FHA) not Fannie Mae and Freddie Mac...
View ArticleMortgage co-signing pros, cons
If you are unable to meet mortgage lenders’ tight underwriting guidelines, teaming up with a co-signer can be a solution. Co-signer vs. co-borrowers According to the Federal Housing Administration...
View ArticleFHA acknowledges investors’ housing recovery role, extends anti-flipping...
To help keep foreclosures moving through the distressed property pipeline, the Federal Housing Administration (FHA) has again made it easier for investors or others to “flip” properties. With certain...
View ArticleMortgage rates edge lower as FHA refinances get easier, cheaper
Rates on the most popular types of mortgages declined slightly, just in time to allow refinancing homeowners to also cash in on cheaper Federal Housing Administration refinances, according to HSH.com’s...
View ArticleWill the FHA ease condo certification rules, allow more condo buyers to use...
Federal Housing Administration (FHA) guidelines for condominium loans continue to depress condo sales at a time when the more buyers could seek out condos as a more affordable housing choice.
View ArticlePresident Obama’s HARP 3.0: Streamlined refinancing for all
President Obama wants a streamlined HARP program for all homeowners, including those underwater, but who've continued to make payments on their home. The White House web site has dedicated a top-tier...
View ArticleNew HUD document mother-of-all mortgage relief program brochures
The U.S. Department of Housing and Urban Development’s (HUD) National Mortgage Settlement (NMS) outreach campaign is virtually a one-stop shopping center for anyone struggling with their mortgage....
View ArticleFHA to raise mortgage insurance premiums, prolong premium payment period
The Federal Housing Administration plans to hike mortgage insurance premiums - again - and force new borrowers to pay for mortgage insurance much longer.
View ArticleHomeownership after a short sale, foreclosure, bankruptcy
After losing your home to a short sale, foreclosure or bankruptcy hope isn't lost. It'll take time, but you can buy a home again. How soon depends upon how you lost your home and the mortgage needed to...
View ArticleFHA anti-flipping waiver now good through 2014
To help keep foreclosures moving through the home sales pipeline, the Federal Housing Administration (FHA) has, for the fourth time, extended a rule to make it easier for investors to “flip”...
View ArticleStill higher FHA costs in the pipeline
Recent Federal Housing Administration (FHA) steps won't be enough to restore FHA's reserve requirements as mandated by Congress. New FHA proposals will make qualifying for FHA loans tougher and more...
View ArticleDown payment shrinkage not due to eased credit squeeze
A new study says the down payment amount home buyers are paying to buy a home is down nearly 10 percent over the past two years, but that doesn't necessarily mean you can fritter away money you've been...
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