FHA NEWS: Increase in upfront premiums for FHA mortgage insurence on the horizion
January 21, 2010 | Brian Lebars | Comments: (3)
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This just in from HUD:
In an effort to shore up its flailing balance sheet and dwindling capital reserves, the Federal Housing Authority rolled out theses sweeping financial changes.
Effective for case numbers assigned on or after April 5, 2010 FHA will collect an upfront mortgage insurgence premium of 2.25%. The current FHA premium for [...]
HUD Waives 90 Day Flipping Rule for FHA Borrowers Starting February 1, 2010- Take note of the special conditions though.
January 19, 2010 | Brian Lebars | Comments: (0)
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HUD’s David H. Stevens issued a waiver of the 90 Day Flipping Rule that has prevented private sellers (LLC’s, Trusts, etc) from taking offers from FHA home loan borrowers. This waiver was issued for a period of 1 year, starting February 1, 2010. There are a few conditions, such as the seller can’t [...]
Will Homeowners and Buyers Lose $45,000?
August 13, 2009 | Brian Lebars | Comments: (0)
Will Homeowners and Buyers Lose $45,000?
Ann Arbor, MI August 13, 2009 – Federal Reserve officials met yesterday and issued a statement saying that their program to purchase $1.25 trillion of mortgage-backed securities will be winding down by the end of year. “The Fed is the single largest buyer of mortgage bonds in the market [...]
My House is Underwater in the Bay Area- How do I Refinance?
April 2, 2009 | Brian Lebars | Comments: (2)
Newsflash…
Fannie and Freddie are ready to help home owners who are underwater on their homes. The loan is called the Freddie Mac or Fannie Mae Relief Refinance Mortgage,
Eligible home owners will include those where the first mortgage is less than 105% of the value of the property. The total loan to value is not taken [...]
Part 1: Making Homes More Affordable in the Bay Area- Stimulus Housing Refinance
March 31, 2009 | Brian Lebars | Comments: (0)
What is “Making Home Affordable” all about?
Making Home Affordable is part of President Obama’s comprehensive strategy to get the housing market and Bay Area housing back on track. Through the Making Home Affordable Program, up to 9 million households may be eligible to refinance or modify their loans to a payment that is affordable now [...]
