Posts Tagged ‘fha loan’
A quick word to the wise, and home buyers. We all know the tax credit is ending soon, and the “target date” for the majority of folks is April 30th. Well, set those clocks back because if you are thinking of going to go with an FHA loan, mark April 5th down and circle it!…Read the Rest of Article
Tags: fha, FHA changes, fha loan, home buyer tax credit, home buyers, texas fha loans
Posted in FHA Guidelines, FHA Mortgages | Comments Off
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I’ve been asked this a number of times here in the last 2 months or so, and since I’m preparing to do my second FHA Streamline 203(k), here are the basics of how it works (from HUD). MORTGAGEE LETTER 2005-50 December 29, 2005 TO: ALL APPROVED MORTGAGEES, ALL APPROVED APPRAISERS SUBJECT: Enhancements to “Streamlined…Read the Rest of Article
Tags: fha 203k, fha loan, fha streamline 203k
Posted in FHA Guidelines, FHA Mortgages | Comments Off
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Good afternoon, MBS is under the 50 day moving average (1st level of support) and down 22 bps. Rates will get bumped up a little bit this afternoon.
Tags: fha loan, Mortgage Rates, texas
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Good morning folks, Currently we up about 36 basis points (bps) as of this morning, as stocks are in negative territory and the Philadelphia Fed Index (an indicator of manufacturing sector trends) came in higher than expected. We’re bouncing back from some of the losses from the past week, but I wouldn’t expect MBS to…Read the Rest of Article
Tags: fha loan, market update, mortgage
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On a recent FHA post that I had, I wrote about how FHA is, bluntly speaking, up shi*s creek. Well, earlier this morning I received an update stating that HUD asked Congress to raise FHA requirements up to 5%. Enter FHA Taxpayer Protection Act of 2009… Basically because of all the financial issues the Federal…Read the Rest of Article
Tags: fha, FHA changes, FHA Guidelines, fha loan
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Morning all, currently down about 6bp for the morning. There’s no economic reports coming out today, however, MBS started in negative territory early in the morning and has rebounded back to even levels We’re attempting to hold above the 25 DMA (Day Moving Average), and are nearing the 1st level of resistance, so I think…Read the Rest of Article
Tags: fha loan, market update, mortgage advice
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by Rob Chrisman I have decided to hold a press conference to confront stories that I was Tiger Woods’ mistress. I’ve never held one before, nor have I ever met the man, nor am I “inclined” that way. But I figure that now is a good time to jump on the band wagon, especially if…Read the Rest of Article
Tags: bank of america, fha loan, tarp funds
Posted in Texas Mortgage News | Comments Off
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Well the results of the fha audit are in and they’re NOT good. A while back I wrote a blog regarding the dire matter at hand explaining how FHA works and what to expect in the near future. Well, after the audit, FHA’s current Capital Reserve came back at 0.53% when in fact they are…Read the Rest of Article
Tags: fha audit, fha loan, texas fha loans
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When will YOUR housing market recover? By Marcie Geffner Pundits love to make predictions as to when home prices will stabilize in U.S. housing markets. But even well-respected forecasters and analysts may disagree, and even if a forecast proves true nationally, your local market may behave in a wildly different way. This disconnect between broad-stroke…Read the Rest of Article
Tags: fha, fha loan, FHAloanhouston, home sales texas, home values texas, Housing Market, Houston, san antonio, texas
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If you are vacating a residence that will remain occupied by the co-borrower, he/she is required to obtain a NEW FHA mortgage loan. Acceptable situations are: 1.) Instances of divorce, after which the vacating spouse will buy a new home, or 2.) One of the co-borrowers will vacate the existing property -
Tags: fha, FHA Guidelines, fha loan, FHAloanhouston, Houston, mortgage rates houston, refinance, san antonio, texas
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Just this morning, I was reading an article that I came across regarding a couple things that are going on with the Federal Housing Administration (FHA)….and it wasn’t pretty. Basically what’s going on right now is that there are justifiable rumors that the FHA’s reserves (capital) are hovering around dangerous levels. Congress requires that the…Read the Rest of Article
Tags: 203(b), fha, fha guideline changes, FHA Guidelines, fha houston, fha loan, fha mortgage, fha mortgage houston, FHAloanhouston, Houston, san antonio
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Here’s an excerpt from one of my favorite movies, A Bronx Tale. Please follow closely: Sonny: Get this over with, Mush. Mush: Come on, dice. Baby needs a new pair of shoes. Come on, seven! Mush: Come on! Come on, dice! Sonny: I don’t even have to look. (Spectator) And seven! Mush: Craps! I’m out!…Read the Rest of Article
Tags: austin, fha, fha loan, FHAloanhouston, Houston, obama, san antonio
Posted in Texas Mortgage Info | Comments Off
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So there has been a lot of rumors regarding the $8000 first time home buyer tax credit and that it can be used as a down payment for a new home with an FHA loan. At first, I thought it was just another “mortgage scam”. Trust you me, the real mortgage industry always leaves room…Read the Rest of Article
Tags: 203(b), 97% financing, austin, fha, fha guideline changes, fha loan, FHAloanhouston, Houston, san antonio, texas
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An Identity-of-Interest transaction is where a sales transaction is made between parties with family/business relationships. To break it down very simply, and this is USUALLY always the case, when a family member sells to ANOTHER family member, FHA looks at that as an Identity-of-Interest Transaction. I get at least 1-2 calls per month with this…Read the Rest of Article
Tags: fha, fha loan, fha mortgage, fha mortgage houston, FHAloanhouston, Houston, refinance, san antonio, texas
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I have voluntarily stopped watching news. Seriously. What can CNN, FOX News, or even your local news tell us that we haven’t seen, or better yet, experienced first hand in this wild real estate market the past year or so? Absolutely nothing! If I wanted negativity, I would ask my Uncle Frank how his prostate…Read the Rest of Article
Tags: austin, dallas, fha loan, Houston, san antonio, subprime loans, texas
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In the current credit squeeze, if you have less than a 20 percent down payment, there’s pretty much only one major source of mortgage financing available: the Federal Housing Administration, the Depression-era home loan insurance agency that still offers 3 percent down, 30-year, fixed-rate mortgages with consumer-friendly credit standards, even on jumbo loans in high-cost…Read the Rest of Article
Tags: congress, credit squeeze, fha, fha loan, Housing Market, HUD, new legislation
Posted in Texas Mortgage News | Comments Off
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WASHINGTON — The Department of Housing and Urban Development launched a program Wednesday to help underwater borrowers refinance their mortgages, but its details appeared to pose fresh challenges for servicers and lenders. The agency said borrowers with payment- and debt-to-income ratios over a certain threshold must complete a three-month trial period in a new loan…Read the Rest of Article
Tags: fha, FHA Guidelines, fha loan, fha refinance
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The FHA is now taking steps to respond to “unhealthy” practices regarding the housing market, especially with FHA and FHA Approved Lenders. We have seen first-hand, and taken hundreds of applications on, homeowners that are vacating their current residences to purchase another property. Due to rising fuel costs, most people have been relocating to be…Read the Rest of Article
Tags: fha, FHA Guidelines, fha loan, fha new rules, fha rental income
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