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In a previous post of mine, I outlined a problem that FHA has been currently dealing with, and today, on the front page of Yahoo, I found an article from the New York Times that gives a nice little update. I wanted to repost it so please take a moment to read this, as its VERY [...] 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 - So, you’ve decided to buy a house? GREAT DECISION, especially now since rates are super low and you can walk into plenty properties with some decent equity. Ok, step 1 complete. Next step, picking the right lender. I’ve written several articles on this previously, but I will summarize countless hours of explanation into ONE sentence: YOU WILL CHOOSE WHOEVER YOU [...] Rates are up, rates are down… they are even going left and right. What should YOU do? Freddie Mac VP, Frank Nothaft said that rates were holding steady. Well Franky my man, I disagree. Yes they may have held steady considering the economic reports that were coming out, but they DEFINITELY were moving. Maybe he was talking [...] |
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