First Time Home Buyer Purchasing Plan

Are you trying to purchase a home and take advantage of the new Tax Credit??  Well, you’re not alone, and as a First Time Home Buyer… the task is now even more overwhelming because of the number of foreclosures, short sales, and standard sales available. Each of these types of sale [...]

NC FHA Condominium Loan Details

The FHA Program for Condominiums is a tiny bit different from the program that covers “traditional” Single Family Homes. Originally, the program was designed with differnt mortgage insurance coverage, that is no longer the case. The program, HUD Section 234(c) of the National Housing Act provides mortgage insurance for any mortgage loan covering a [...]

HUD Makes It Easier To Purchase Foreclosed Property

HUD announced a change in the way it handles property that has changed ownership in the last 90 days.  In an attempt to prevent people from “flipping” property (which is FRAUDULENT), HUD required a 90 day “cooling off” period before property could change hands.
This meant that if an Investor purchased property on January 1 at [...]

The First Time Home Buyer Tax Credit of 2010

Okay—so here’s why you REALLY want to buy a house in the first half of 2010…

Houses are C-H-E-A-P!  I mean CHEAP!! I’ve been in this business, in North Carolina decades, and I’ve never seen home prices so AFFORDABLE (read CHEAP!)!
Mortgage Rates are L-O-W! It does not look like this is going to continue to [...]

FHA and Short Sales – The New Ruling

Okay – so maybe it’s not a “Ruling” but FHA announced on December 16, 2009 what they think about homeowner’s filing Short Sales .  Basically, FHA sees short sale homeowners falling into one of two camps:

Those who are current on their mortgage leading up to the short sale.
Those who have delinquencies leading up to the short sale.

If [...]

FHA Has Problems According to CBS Report

This news report last night on CBS about FHA was interesting!
FHA / HUD does not make loans, they only insure them. It’s one of the BEST programs available to first time home buyers!  Yes, there are people who are defaulting on loans… at a rate of around 9%… But that’s roughly what Un-employment is right [...]

5 Things First Time Home Buyers Should Know!

So you’re ready to move out on your own, and Kiss Your Landlord Good-bye?  CONGRATULATIONS!
Here are FIVE THINGS we think every First Time Home Buyer should consider before making that move:

When you buy a House – you get a Raise!  Uncle Sam definately sees benefits in having homeowners, so you get to “write off” the [...]

Benefits of FHA Mortgage Loans

FHA Mortgage Loans are one of the best mortgage loan programs available for folks purchsing a home in the Wake County Area because it serves so many needs!
You can use the program, as a parent, to help your student or child get into their First Home!  The downpayment is 3.5%, and it can be a [...]

With All of the Risk Do We Still Need FHA?

I think this is good news, because others are calling for massive tightening… and I think we need every eligible buyer to buy! Forcing credit score requirements up to 680, or 700 is NOT going to help the housing market (because it turns so many folks away who can’t make that score) and it’s not going to keep the defaults from happening when people lose their jobs!

What Exactly Are Closing Cost?

The Federal Reserve Board refers to them as “Settlement Fees.” They are, in fact the fees you pay to the various agencies and service providers who work to get the title of the home transferred into your name.

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