You have 2 weeks to make application if you want to take cash out of your home using a FHA refinance. The technical explination of "cash out refinance" is when more than the balance of the …
2% Mortgage Rate on Refinance?
The Obama Administration outlined today their efforts to help borrowers who need to refinance - and for various reasons can not. If you've made your payments on time, here's the current plan being …
FHA Maximum Loan Limits Increase for Some NC Counties
If you live in NC, there's a good chance the Maximum FHA Mortgage Loan Limit for your county changed this week! We were surprised that limits were increased in 2008, lowered January 1, 2009 and then …
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FHA Started Because of The Great Depression…
Housing is the most important part of getting the Economy back in shape - (according to many of the guys that met for The Global Economic Summit in Davos). Keeping that in mind, it's important to …
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Problems Refinancing from Conventional Loan to a Government Loan
For fun an giggles, let's say you bought a property in Feb. of 2008. You got a Heck of a Deal - and you purchased the home for $237,000. The appraisal in February was for $245,000 …
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Calculating Downpayment on FHA
For many years we calculated FHA down payment by way of Acquisition Cost. Now... that's "out the window." With the new "revisions" we calculated a "straight" 3.5% as reflected in the Mortgagee …
