FHA is doing a Risk Management Assessment - and while it makes sense, in the announcement today, the last paragraph says it is aligning FHA to the FNMA and Freddie Mac model! Yickes! Not sure I …
Better Move Fast Premiums Going Up
April 3rd is the last day to get the cheaper mortgage insurance premiums /financing rates for FHA loans. As of April 4th, MIP, or FHA's version of PMI/ mortgage insurance, rises from 1.75% to …
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, …
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 …
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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 …
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FHA and Short Sales – The New Ruling
There are no Federal Laws that govern how a Short Sale is reported to the Credit Bureaus. Because of that, and the fact that each State has vastly different laws governing the Foreclosure Process - …
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