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 …
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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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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Mortgage Brokers and FHA
We're kinda Nerdy at my house, and last night we watched a CSPAN discussion regarding the Future of Mortgage Lending in Washington, DC. John Courson (President of Mortgage Bankers of America) and the …
FHA and Non Occupying Borrower In NC
FHA and Non Occupying Borrower In NC is a mortgage loan offered for those who can't qualify for a mortgage loan on their own. The program is great for couples where one spouse has good credit but …
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FHA Qualifying with Rental Income
First off, it's important to remember that you can not use FHA financing to purchase Investment property. FHA loans are for PRIMARY residents only... but time being what they are, we are finding …
