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FHA Announced New Policies January 20, 2010 – It’s Going To Be Okay
FHA announced yesterday, January 20, 2010 some additional policies:
WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. The changes [...]
FHA 90 Day Flip Rule is Waived for California Buyers, Sellers, Investors
Home Buyers, Home Sellers, Home Investors – HUD just gave a nice boost for California FHA insured mortgages. The 90 Day Flip Rule that hindered FHA buyers and certain home sellers from going into contract together has been temporarily waived for 1 year.
Starting February 1, 2010, a home purchased by a LLC, Trust [...]
Home Buyer Tax Credit in California Extended
Has the home buyer tax credit in California been extended?
Well, California’s real estate market did receive another boost from last night’s vote in the Senate. Although it’s not the final vote, it effectively seals the deal on the plan to extend the $8000 first time home buyer credit through April 30th 2010 as well [...]
New FHA Streamline Refinance Guidelines in California for 2010
FHA Streamline Refinance Guidelines for 2010 for California will be new to some, but old to others. Under today’s FHA streamline refinance guidelines, homeowners with FHA loans have the ability to lower their monthly payment when FHA mortgage rates are reduced. Guidelines today allow homeowners to refinance without an appraisal or verify income and assets [...]
22 FHA Qualified Buyers Need Homes in Riverside County CA
I know, it sounds like a “Help Wanted” ad, but seriously, in this market where supposedly there is a multitude of homes available, I have 22 FHA qualified home buyers in Riverside County CA that are unable to retrieve an accepted offer on a purchase contract. Several of these potential home buyers have made upwards [...]
California First Time Home Buyer with No Credit Score Obtains FHA Loan
Back by popular demand, here is the next entry into My FHA Success Stories – A California first time home buyer with no credit score obtains a FHA loan approval – truly amazing!
Rocky doesn’t have a FICO score, basically no credit equals no credit score. Initially, Rocky had a loan officer that provided a “pre-approval”, [...]
California First Time Home Buyer with Under 620 Credit Score Obtains FHA Loan
Is it really possible for a California first time home buyer with under 620 credit score to obtain a FHA loan? Most people would disagree. The Jonas Kruckeberg Team fights day in and day out for clients to obtain their dream of homeownership, so to all the naysayers let this be a demonstration that it [...]
HVCC – Helping the Consumer Understand the Issues
Yesterday, Marc Savitt, president of the National Association of Mortgage Brokers (NAMB) released a Call to Action for all Mortgage Brokers, Real Estate Agents, Appraisers, Lenders, Home Builders, Title/Escrow Agents and Consumers.
In order for this “Call to Action” to be effective, I ask that you fully participate, encourage others to join the action [...]
HVCC – Why California Residents Need To Care About The Home Valuation Code of Conduct
The Home Valuation Code of Conduct (HVCC) is already having a negative impact on California real estate and mortgage transactions.
This recent article in the LA Times tells a better story about how HVCC is hurting mortgage brokers, real estate agents, appraisers, and consumers.
Your voice needs to be heard – please take the time to sign [...]
8000 Tax Credit Guidelines for California First Time Home Buyers
The updated 8000 Tax Credit Guidelines for California First Time Home Buyers has been released by HUD for FHA loans as of May 29, 2009. Although the credit may not be used for the minimum down payment of 3.5%, it may be used for buying interest rate down, closing costs and/or additional down payment.
Here are [...]
