Tag Archives: fha loan

The New Mortgage Refinance Program

Underwater homeowners with mortgage guaranteed by Fannie Mae and Freddie Mac will be able to refinance their loans under Obama’s new plan, saving themselves about a thousand dollars a year if they fill out all the paperwork correctly. Kathleen Pender … Continue reading

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Quick Facts About Reverse Mortgages

With a conventional mortgage, you have to make monthly payments so that you can stay in the house, be it a VA loan, or a FHA loan. While with a reverse mortgage, the opposite of conventional loan, you take out … Continue reading

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A Bigger Down Payment Will Give You More Mortgage Options

If you’re not used to living below your means, you’re not going to be able to handle owning a home. There are always unexpected expenses when you buy a home. Your sewage system might get damaged by a tree’s roots … Continue reading

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The Refinance Mortgage Surge – Not So Much!

Diana Olick writes for CNBC that the refinance boom is not going to pump much money into the economy. A typical year sees a trillion dollars worth of mortgages getting refinanced, saving homeowners about $10 billion a year. So with … Continue reading

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Banks Ease Rules On Jumbo Mortgages

The Obama administration has some free-market tendencies. It is reducing the size of jumbo mortgages that Fannie Mae and Freddie Mac will buy. This primarily effects homes in coastal California, where the cost of land is significantly more expensive than … Continue reading

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The Limited Mortgage Market For Jumbo Loans

Any mortgage over $417,000 is considered a jumbo. Market conditions are running against such loans. This old man is staring bankruptcy and foreclosure in the face. Here’s advice: One problem is that your mortgage is a jumbo loan, and the … Continue reading

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Mortgage Modifications Hard To Get

Here are the three basic reasons according to this Washington Post article: “Loan modifications often don’t work out because the homeowner doesn’t understand what’s out there, the lender is reluctant to write off part of the loan or, as in … Continue reading

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The Best Mortgage Blogs

Here they are in order: * Lenderama — solid mortgage industry info since 2005. * FHA Home Lender blog. My FHA Mortgage Blog is an online FHA loan officer lender network of Government loan program experts who provide updated information … Continue reading

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The Real Estate Expert with a Heart: Mayer Dallal Helps Those in Need

Given the popular response to my interview with Mayer Dallal (www.mayerdallal.com), I have good news to report: Mayer just did an encore performance, where he answered a series of questions about streamline financing, a hot topic in the mortgage industry. … Continue reading

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Defrauding The FHA

It can be easy to take advantage of government welfare. Here’s a new court case: BROOKLYN — A mortgage lender based in Long Island repeatedly made loans insured by the Federal Housing Administration to economically unstable individuals, and federal prosecutors … Continue reading

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