Archive for Real Estate
FHA 90 Day Flip Rule: Is There One?
If you are wanting to buy a home and finance the home with an FHA loan, chances are that your lender may have mentioned a “FHA 90 day flip rule”.
Some lenders have a rule in place that they will not lend you money for an FHA loan if the home you are buying has been [...]
FHA Loan Defaults Exceed 9%
When house prices drop, falling values have ripple effects on the economy. Jobs are lost, credit becomes difficult to obtain and people are forced to make tough decisions regarding what monthly bills they can afford to pay.
And increasingly, it appears as if many people are opting to not pay their mortgage — whether by choice [...]
Home Builders Cut Prices to Woo Customers
Home builders are cutting prices on new homes to entice buyers. New construction accounted for 7.6% of home purchases last year, down from an average of about 16% over the past 20 years, according to an article in the Wall Street Journal.
Home builders have been hit hard by the recession as many people looking to buy homes have [...]
WHAT SHOULD I DO WITH MY HOME IF I FILE FOR DIVORCE IN 2010?
By Henry Gornbein
We have been going through some of the worst economic times since The Great Depression. Numerous articles and newscasts have stated either that the housing market has bottomed out, or is still going down. In Michigan, we have the most depressed housing market in the United States. Other states, including Florida, California, and [...]
Can You Rent Your Home From Fannie Mae?
There may be a little bit of light at the end of the tunnel for people who are currently going through foreclosure – they may be able to rent their property back from Fannie Mae.
Fannie Mae has recently announced the Fannie Mae Deed For Lease Program and it is designed to be another option to [...]
HVCC – NAMB Update – HVCC on the ropes!
We have HVCC on the ropes so we need your help more than ever!
On Wednesday, October 21st, the National Association of Mortgage Brokers used this petition hvccpetition.com to help convince the House Financial Services Committee to pass an amendment that will finally put an end the mess that HVCC has been making of the real [...]
Saving up for a Down Payment on a Home
For many people, getting together enough of a down payment to buy a home is a daunting task. Most Americans say the down payment and closing costs are the biggest obstacles to buying a home, according to a recent National Association of Realtors survey. The annual survey also found that 80% of Americans say job layoffs [...]
Home Prices: Are We There Yet?
Posted By:Diana Olick
A lot of folks are parsing the latest S&P Case Shiller home price report out today, and debating whether some month-to-month increases are proof of home price stabilization nationwide. I frankly think it’s impossible to say anything nationwide, because a lot of different markets are reacting very differently. That may seem an incredibly [...]
Getting Rid of Mortgage Insurance
Many people want to know what the best way to “get rid” of mortgage insurance — either Private Mortgage Insurance (often referred to as PMI) or FHA Mortgage Insurance (acts just like PMI, but payments are made to HUD, not a private mortgage insurance company).
If you want to avoid PMI altogether, you must put 20% [...]
The Importance of a Bankruptcy Appraisal in Temecula, CA.
If you are considering filing for bankruptcy, you will need to make an asset report. An asset report will show the net worth of your assets. In order for this report to be accurate, you will need to get an appraisal of your home. It is your responsibility, as the homeowner, to obtain the appraisal.Your [...]