Mayer Dallal
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A Recent Drop in Foreclosures is a Relief to ManyHope Now recently released the results of their survey which states that the number of foreclosures has declined. This is great news!
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Homeownership is the New SexyHomeonwership is a goal, but many women find it attractive when a man owns a home and can manage his money.
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Higher Loan Limits for FHAFHA was intended to help those who had unconventional finances to get into a home. FHA loan limits may be going up, but this isn't really congruent with the reason that the FHA insured mortgage loans.
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Brokers Struggle with Programs on the HECMMortgage bankers and brokers are having a hard time competing with the larger banks on the Reverse Mortgage Programs. The biggest problem is that the big banks are doing them so cheap, no one else can make a dime doing them.
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The Structure of HAFAHAFA is still something that many Americans are unfamiliar with, and even if they were it might not make a difference. HAFA wasn't really complete when it was put into motion.
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Were Defaults on Mortgages Strategically Planned?Homeowners that are feeling the financial squeeze, may very well have walked away from their homes even though they can afford to make payments. Find out what other reasons cause borrowers to plan a strategic default.
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Why New Disclosure Forms Are in OrderBorrowers have been signing documents for far too long, not knowing what they are about. Closing documents are going to be simplified, so the changes are coming soon.
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Modifications and Principal Reductions for 2011Only 9% of modifications are getting an approval, but pushing for change is key. Perhaps a principal reduction in a loan and a modification are both in order.
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Purchase with an FHA Home LoanBuying with FHA is better because there are low down payment options for first time buyers and more.
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The Battle Over Ending the Mortgage Interest Tax DeductionEconomists say that the only people who benefit from the mortgage interest tax deduction are those who are high income earners. Is this true?
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Fixed Rate Mortgages Are on the RiseWith rising prices on food, coffee and gas, this means mortgage rates are going up to. Inflation affects everything, not just one facet of our markets.
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The Danger in Loan Payment ReformReforming the way loan officers are paid isn't necessarily going to solve the problem, and could put some loan officers out of business.
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Risk Based PricingRisk based pricing is nothing new, but lenders are getting tighter with the risks they take.
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Be Mortgage Smart in 2011Don't continue to wait to buy a new home; prices are increasing and so are the mortgage rates. You can better prepare yourself for the future, so that you know what is ahead.
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Don't Wait Another Minute to Refinance!Mortgage insurance is going up again with FHA loans, and mortgage rates are going to climb. Don't continue to wait to buy or refinance.
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You Can Buy a Home in 2011!It's still a great time to buy a home, and it's important that you act before the mortgage rates go up and inflation hits hard.
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Why You Should Refinance TodayRefinancing is critical before rates go up, and inflation is just around the corner.
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The Changes Bank Regulators Want to MakeBank regulators are saying that they wish to require 20% down in order to buy a home, but is that the answer?
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Basic Steps to Take Before You Buy a HouseBefore you buy a home, there are some basic steps you should take. Make sure you know what you can afford, and understand that a home is a big committment.
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How to Fix the Housing MarketThe housing market needs fixing, but it may need to hit rock bottom before it repairs itself. Randy Neugebauer may have it right on this one, and he says it could ease the state and local budgets.
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Changes in Fannie Mae and Freddie MacFannie Mae and Freddie Mac may now need their own bail out, and the stage has been set, but what is next? The meeting won't take place until mid-February but is anyone sure how to handle it?
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Arguments Over the Financial Crisis ReportThe FCIC published its Financial Crisis Report, but Americans have some hard questions about issues that weren't really addressed.
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Considerations for Seniors Before Selling Their HomeSome seniors have taken out an equity line as a safety net in case they need it for retirement. This isn't always good, especially now because the value may not hold up.
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Preparing for Credit Score ChangesCredit requirements are changing everday, and with stricter guidelines, it would be wise for borrowers to check their credit before applying. Your credit is everything.
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FHA Striving to Boost EconomyReal estate investors received good news when they found out they could sell their investment properties faster. This is good for them and the economy, and may boost the prices of homes.
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The Financial Crisis ReportThe financial crisis we are in is no laughing matter, and now that the witnesses have been interviewed, and the documents reviewed, where does that leave us?
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It's Still a Great Time to Buy with FHAThe down economy is still a great time to buy a home. The prices and rates are still low, and if you act now, you could find a home purchase to be in your favor.
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Don't Wait to Buy; Here's WhyWaiting to buy could cost you more in the long term, simply because rates are going up. Not sure what to do? Talking to a mortgage professional may help you get off the fence, if you were hoping to buy in 2011.
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Why Refinancing Today is CriticalRefinancing now before mortgage rates go up is critical. Don't let a loan officer float your rate; be sure to lock it in!
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Refinance Today and Pay Less Before the Rate HikeInterest rates are going up slightly, but with inflation coming it may move faster here in the near future. There may be no better time to refinance than now.
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What's Happening with Reverse MortgagesReverse mortgages were meant to be a benefit, but are they? There are some new tools in place to make sure that the borrower is getting a benefit from the loan.
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FHA Does Spring Cleaning a Little EarlyFHA has cleaned up the way lending money is done, and they are still in the process of doing so. FHA started the New Year by fining and suspending several lenders for non-compliance.
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Could Higher Interest Rates Improve Our Housing Market?Rates are on the way up, but they are not always viewed as a negative. Here are a few reasons higher rates could help us.
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How Interest Rates Will Affect You in the Coming YearInterest rates are going up and they are going to affect everyone, to the degree they will affect you is uncertain.
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Is There Truth in Numbers?Numbers in real estate can come from many different sources, and it's hard to know which ones are right. Here is some information on where they come from, and how they are determined.
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What Changes We Can Expect in the Coming YearWhile I can't predict the future, something tells me we are on the brink of seeing at least four things changing. Here are my insights into those four things.
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Making Credit Changes for 2011If you aren't sure where to start to get your credit on track, then here are a few simple things to help you get started. Step by step, it will take time, but in the end fixing your credit is totally worth it.
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Rate Hikes Are Coming!The economy has been struggling for the past few years, and we haven't seen the end yet, but aren't things changing? Real estate will change for the better, and there are a few indicators that tell us that.
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It's Still a Great Time to Buy a Home Through FHABuying a home takes preparation and planning, and part of that means taking an honest look at your credit. Here are some things to help you put buying a home through FHA loans in perspective.
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The Guidelines Concerning FHA and BankruptcyIf you have filed a bankruptcy in the past, you can still get an FHA loan, but there are some things that you need to know. Educate yourself and get prepared ahead of time.
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Defining What an FHA Mortgage isKnowing what an FHA mortgage is will help you understand how it can be beneficial to you, and help you get what you have been looking for in a home.
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Mortgage Modification TroublesIf someone tells you they can save your home from a foreclosure, but they charge you fees and cannot produce documentation of their business, then just say no. Here is what to look for ahead of time.
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Buying a Home Through FHABuying a home seems like a bleak possibility to many right now, but there are ways to do it. FHA was designed with the less conventional life in mind.
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Money Management to Prepare You for LifeMany walk through life being totally unprepared, and it doesn't surprise me. I was fortuante to have parents who taught me about money, so I am passing on some simple tips to help give you peace of mind and perspective.
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The Hidden Costs of Buying a HomeBuying a home is going to cost you, but what happens after you buy can cost you too. Here is the truth on buying a home, and what you need to know ahead of time.
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The Final Say on Real Estate AppraisalsAppraisal values have been a problem, giving us a housing market with tons of folks who are upside down on their mortgages. Here is some new information on some changes that were made to the appraisal process.
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How to Get Approved for an FHA LoanMany people view FHA as a subprime loan, but FHA is anything but subprime. Here are some guidelines for you to get approved on your new FHA purchase or refinance.
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Why You Should Consider an FHA Streamline Refinance TodayAn FHA streamline is great for those who currently have an FHA loan, but you can still work with FHA if you haven't before. Here are the specifics on why it works well, and what it is.
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Refinancing With an FHA Loan to Prepare for the Coming YearThe holidays shouldn't be dreaded, but they always are because of what Americans spend every year on Christmas gifts. Here are some things to keep in mind, and how an FHA refinance could help you save money.
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Take the Stress Out of the Holidays by Refinancing NowThe last thing anyone needs to worry about during the holiday season is their finances, and refinancing may put you ahead. Here are just a few things to consider.
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How Does FHA Measure Up?FHA has made many changes over the past year, some of them positive and some we just aren't so sure yet. We need time to watch them, and see how they play out. Here are just a few details.
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Appraisal Protection for AllOver stating home values ran our economy into the ground. The Federal Reserve has a plan to calm this issue down, and create an equal playing field for borrowers and appraisers.
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Are the Lenders Solely Responsible for Our Mess?Lenders are not the only responsible party when it comes to a bad economy. Everyone took their opportunity to make things hard. Here is what I can share with you about the market.
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Decline in Purchasing Multi-Family UnitsInvestors who still have money may be looking, but a majority of people aren't. Here are some interesting statistics regarding the purchasing of multi-family units in 2009.
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Are You Comfortable with an Online Lender?Doing business with an online lender is convenient, with automated responses. However, there can be a severe breakdown of communication. Here is why I keep it more personal.
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Controlling Your Financial FutureDespite what is going on with the economy there are ways to combat the financial struggles that we are all experiencing. Here is some insight into what you can do to start making things better now.
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Danger in the Foreclosure Freeze?The moratorium on foreclosures has everyone talking, but it isn't clear how this may affect everyone. Here is a little insight into what is happening.
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Want a Reason to Refinance?Despite what is going on around you, don't think it isn't a good time to refinance. In fact, it's a great time, and here is why.
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FHA Gets Strict with LendersFHA started making changes at the beginning of 2010. There are more changes to come to ensure lenders are doing things right. Here is what is changing and why.
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Why I Know It's a Great Time to RefinancePeople are asking if now is a good time to refinance, and the answer is yes! There are several reasons why, so here are details.
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FHA Rules on a Cash-Out Refinance LoanYou can get cash-out when you refinance through FHA. The challenge for most families is having equity. So, here are the details on what you can borrow and the rules that come with it.
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Getting it Done Right with FHAFHA isn't a bad credit loan, and you need to have your credit in tip top shape. Here are some things to keep in mind when applying for your FHA loan.
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How Your Affordability on a Loan is Determined by FHABefore you decide to start the home purchase process, you will want to be sure that you look at your debts and what you are brining in on a monthly basis. Here are the details on why this is important.
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Why It's Still a Great Time to Buy a HomeDon't let the expiration of the tax credit scare you out of buying a home. With too many homes in inventory it is still a great to buy, and here is why.
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How Low Credit Scores Can Affect Your LoanLow credit scores will affect your application whether you are applying for an FHA loan or a conventional loan. Here are some basic details you will need to know to get a loan.
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Defining Short SalesShort sales are not a thing of the past, they are a thing of the present. However, very little was known about them until two years ago. Here are some basic details and things you should know.
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FHA Purchase Applications on the RiseDespite the elimination of the home buyer tax credit, FHA purchase applications have increased. With better down payment options it is no surprise.
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Your FICO Score and Credit RiskFICO might be foreign to some of you, but it is important to know what it is and what it means to you. Here is some information on something new they are doing and how it will affect you.
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How Your Credit Could Boost Home SalesPeople ask me what they can do to help make a change, and they feel helpless. It starts with us, one day at a time, one credit report at a time. Here are the details.
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What May Prolong the Housing RecoveryThe economy is shaky enough that we don't need anymore roadblocks. What happens when two banks stop foreclosure proceedings?
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Is FHA the Right Choice for You?I think everyone wants to know why FHA is a good choice, and why it may not be. Here is why it is good for a purchase and a refinance.
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Will Tax Breaks Disappear?The National Home Builders Association did a survey in which Americans were asked if they favored the end of the tax break for mortgage interest. Here is what they had to say.
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Are Home Prices Becoming Stable?The media has portrayed a faltering housing market over the past few months, but home prices have been stabilizing. It might be due to the tax credit just before it expired. Here are some things to think about.
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Sub-Prime Lending Report Tells AllThe Sub-Prime lending industry put us in a real bind, and there were some contributing factors that some may not be aware of. Here are some clues to what happened and why.
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Do I Qualify for a Mortgage?Zillow did a survey that tells the story of what is happening across the country, but FHA has not gotten it's proper credit. Here are some details on what the survey says and what it doesn't say.
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The Two Challenges in Fixing the Housing CrisisOur economy will recover, but it has been a slow process. There are two major considerations that we need to make as a country that affect our ability to move forward, and here are the details.
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Are Tax Incentives for Home Buyers Being Taken Away?Congress is considering getting rid of the tax deduction for home buyers to help reduce the deficit. Is this really the way to go?
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The Option-Arm Loan Fever Takes Its TollThe mortgage offering minimum payments and interest only payments has made its mark on our industry. Here is some information on what is happening with the states that had large numbers of them.
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Is Half of Phoenix in ForeclosureArizona has been among the states struggling in the housing market, along with California, Nevada and many others. The percentage is high and continues to fall.
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The New Reverse Mortgage OptionThere are are some misunderstandings regarding details on the HECM reverse mortgages, and now FHA has a new product to help clear it up. There is a standard loan, and now the new HECM Saver. Here are the details.
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Is the Recession Really Over?Some economists say the recession is over and others say that it isn't. So, in all of this who should we believe?
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Are Home Builders Still Building?Home builders are not confident, and people are investing more in previously owned homes. So, are there still home builders out there?
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How to Refinance Your Home the Easy Way with FHAThe FHA streamline refinance is a great way to refinance your home, but there are some requirements for those who do have an FHA loan now, and for those who don't. Here are the details.
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Are Rates Going to Stay Under Five Percent?For the past 19 weeks rates have been under five percent, and are possibly going to remain there. Here is what the survey had to say from Freddie Mac.
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Keeping it Simple with an FHA Streamline Refinance LoanLooking for a simple way to refinance without the hassle? The FHA Streamline Refinance may be for you, but there are some stipulations.
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Don't Be a Victim of Predatory LendingPredatory lending isn't a thing of the past, and you need to be careful. Don't underestimate your mortgage professional, and here is why.
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Who is Fannie Mae?Fannie Mae does not loan money directly to you, but they do play an integral part in the housing industry. Here are the details.
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Who is Freddie MacMany people would like to know who Freddie Mac is, and what role they play. They also want to know how they relate to FHA. Here are the facts.
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Are Short Sales on the Rise Again?Just when we thought there might be an improvement in home sales, we saw a decline, and short sales are expected to go up in the last quarter. Why? Here are some details.
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Should I Rent or Buy?Renting isn't bad, and buying is sometimes better. Ever family has to decide for themselves based on goals and what their budget is. Here are some pros and cons to renting and buying.
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Who is the FHA Anyway?Many are confused with who is who is the mortgage industry today. With all of the information out there, it can be so confusing. Here are the differences and the changes to come.
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What is Going to Happen to the Excess Inventory of Homes?With over 7 million homes foreclosed upon, it leaves a huge inventory of homes that need to be sold to aid in the recovery. So, how does this happen? Will we recover?
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Are Rates Really Rising, or Are They Still Falling?With slight recovery comes slight increase in interest rates. Here is what is rising, and what is staying the same.
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How to Get the No Appraisal Loan Through the FHAMany have had questions on the FHA streamline, and what allows them to get no appraisal. Here are the details.
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Are There Positives to This Recession?At at time like this, finding something positive to focus on isn't a bad idea. Is there something we can take away from this disaster? Yes, we can.
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FHA Scarce in New JerseyIf you take a look at one town, Rumson, New Jersey you will understand why. The state has been getting overbuilt and overspent, but changes will come soon enough.
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FHA Loans in New YorkGetting to the closing table and getting surprised isn't fun for anyone. Make sure that you have a true FHA consultant, that can tell you what it all means upfront. Here is why.
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Understanding FHA Loan Limits in New YorkBefore you apply for an FHA loan, you should think about what type of property you wish to buy, and what county you plan to live in. There are limits for each county.
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The Underground Refinance Boom in CaliforniaThe housing market has taken its spill in many states, but especially California. There are options that you may not know about, but an FHA streamline may be your answer.
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Strategic Defaults Go Up, While Home Values Go DownWhat is a strategic default? It's when someone knowingly plans to walk away from their home without warning or consideration of the lender, allowing the home to foreclose. Here is why it's a bad idea.
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Unemployment Equals a ForeclosureThe rise of unemployment equals foreclosures in this country. There is a definitive match, and it's no secret. What can we do to wade through it?
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Report on Mortgage Scams Finally PublishedWhen Rep. Doris Matsui and Consumer Protection Subcommittee Chairman Bobby Rush requested reports on mortgage scams, they got delayed. Now that the report is here, some things are clear.
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Mortgage Applications Are on the RiseMortgage applications are going up, and that is good news amidst the financial heyday going on in the US. Refinancing is now surpassing the purchases. Are people just looking to save a buck?
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The Federal Reserve Takes Notice of a Drop in Consumer DebtAll our country has been able to focus on is the national deficit, and the rate of foreclosures. Even in the bad, we have found some good. Consumer debt has dropped, and it's about time.
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The Federal Reserve Board Makes Disclosure ChangesThe Federal Reserve Board is an active part of our government in the United States. They make changes and decisions every day that better our situation. Here are some details on changes to disclosures.
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The New Rules on Loan Officer RegulationsFor years anyone and everyone tried to get into the mortgage business, which lead to some real problems. Now, the time has come to ensure that those things don't happen again.
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Changes that Will Affect Your Monthly Mortgage PaymentsMortgage insurance helps to protect the lender when you default on your loan, but you get to pay for it. The premiums are going up in October, so you need to be prepared.
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How to Spot Short Sale FraudShort sale fraud seems impossible, but it happens everyday. Here are some details on how it occurs and why.
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Can I Get an FHA Loan If I Don't Have One Now?It is a misunderstanding that you have to have an FHA loan in order to qualify for another one. Anyone can apply for an FHA loan, and may get it as long as they qualify, or the amount is within the loan limits.
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FHA Loans and Their Documentation RequirementsWhen applying for an FHA loan, it's important to have all your "ducks in a row". The proper documentation up front can mean everything. Here are some facts on FHA loan requirements and documentation.
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How You Can Qualify for an FHA LoanFHA doesn't approve bad credit loans, but they do have some leniency in regards to your credit. These guidelines are designed to help you not hurt you. Here are some things FHA will look for to approve your loan today.
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Learning to Trust a Mortgage BankerOver the years people have grown to dislike mortgage brokers and bankers, but there are some good ones left. There are some positive changes that have taken place in the industry to help put your mind at ease.
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Life After Chapter 7 BankruptcyMany who face chapter 7 bankruptcy fear that they may never be able to get into another loan again. It is possible to get into a new loan or a new home. Here are the details on FHA and Chapter 7 bankruptcy.
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FHA Says Your Credit Does MatterFHA doesn't offer bad credit loans, despite what some may think. FHA has strict guidelines and very few exceptions. Here are some things to think about, and what considerations they may make.
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What Documents You Need to Prepare for Your FHA LoanIn order to get your FHA loan closed quickly, you need to be prepared. Having the right documentation and having everything in order is critical for this process. FHA loans are 100% based upon having the right documentation.
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The Definition of a Strategic DefaultMany Americans are disgusted with their financial situation and the countries financial situation as well. Engaging in strategic default is the worst thing you can do. I will tell you why, and how to avoid it.
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How Much Home Can I Really Afford?Everyone is worried about being able to afford a home. There are ways to do it, and it's well worth the hard work of saving to get there. Here is some information to help you with affordability.
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How a Low Credit Score Can Hurt YouLow credit scores can hurt you, whether you are buying a home, buying a car, or even just trying to get a new job. There are some things you should be careful of, and here are some reasons why your credit gets reduced.
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Lenders Want You to Be in Debt ForeverLenders want you to stay in your loan for as long as possible. It is a proven fact, when rates are this low and they don't invite you to refinance. Here are some thoughts on why.
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New Guidelines for Short SalesShort sales were happening so fast it was hard to manage them. There are some things that were changed to hold each party in a short sale accountable for their actions. Here are the details.
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The Definition of an FHA Amendatory ClauseAn FHA Amendatory Clause may be pertinent to your loan. Here are some basics on why it is, and what it does.
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How Does FHA View Bankruptcy?Even though FHA has common sense underwriting guidelines, they still have rules about bankruptcy. Here are some tips to figuring out how they handle a borrower with bankruptcy on their credit.
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Short Sales and Tax PenaltiesShort sales are helpful in salvaging your credit, and they can save you some embarrassment from your peers, but there may be tax penalties. What are they? Here is some information on what you need to know?
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The Inside Look at FHA Appraisal GuidelinesFHA changed the rules to make sure that appraisals were being done honestly, and that properties weren't getting too much value to make loans pass through. These rules are not meant to be broken.
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Are the FHA Rates Better Than Conventional Rates?FHA has the most competitive rates on the market today. FHA is offered better rates because they back loans for the lenders. Right now, the FHA rates are at a 50 year, and you may not have to refinance ever again.
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Are There FHA Requirements to Get a Loan?FHA isn't a loan for those who have bad credit, but FHA does take pride in their common sense underwriting. FHA grants loans everyday, but they do want you to be responsible. Here are some of the details on their requirements.
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Getting a New Lease on Life After Your Short SaleA short sale can affect your credit, but not nearly as much as a foreclosure will. There are some reasons why this could be your best option. Before you allow a foreclosure to take place, read this article.
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The Guidelines on FHA Loan ProgramsFHA has been around for many years, and with changes coming it is good to get familiar with their loan program guidelines. It forces you to dig out your credit and get busy fixing things that could hurt you. Take a look.
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The Homeowner Eligibility Requirements for HAFAWhile the HAFA and HAMPA programs exist, there are a lot of details and guidelines that you need to know about. Here are some things to remember on the eligibility guidelines.
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What HAFA is All AboutHAFA, the Home Affordable Foreclosure Alternative, is a program designed to find other options before foreclosure happens. There are basic details about how it works, and what HAFA does.
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When Your Monthly Payments Can Make You Feel like It's All Crashing DownBeing burdened financially makes things hard on you, no matter how small or how big they are. Any bills are discouraging, and when it comes to your home you want to protect it. Here is some expert advice to help you do so.
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Legal Concerns with Short SalesMany have wondered if those involved in a short sale are held accountable. They certainly are, and here is some information on the legal repercussions of the short sale itself.
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FHA's EEM ProgramThere are some provisions that FHA has to help make your home more energy efficient, but there are some stipulations. Here are the details on the guidelines.
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Short Sale Buyers and What They WantWhen looking to buy a short sale, there are certain things to look for. It may be a good deal for you, or it may not. Plus, you might want to look for an agent with experience.
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Changes with FHAFHA has always been a great choice for any borrower, but it isn't necessarily for bad credit. While FHA has always made room for many, there are some changes that could now affect you. Here are the details.
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FHA's Down Payment Gets AdjustedFHA is known for its low down payment of 3.5% down, versus conventional lending which requires anywhere from 10% to 30% down. Before you apply, make sure you are prepared and know the facts.
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What Are the FHA Credit Score Requirements?FHA is not solely based upon credit score, but there are some changes that could affect your down payment when buying a home. The changes are positive, but you need to be prepared.
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The Solution that a Short Sale Can ProvideShort sales are not everyones priority, but if it's you that is suffering then it is more important to you. Here are some basic details that will help you understand where it can help you.
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Does Anyone Really Benefit from a Short Sale?Short sales are a huge concern in the housing market in the U.S. Those who wish to know more about this option have struggled to find information they can count on. Here is an idea of how they can be profitable for those involved.
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Getting an FHA Home LoanGetting an FHA home loan doesn't have to be hard, but there are some guidelines you need to know about. Here are the details so that you know what to expect in the FHA process.
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Get Your FHA Loan Now!FHA has been misunderstood for years as a bad credit option. While FHA guidelines allow for some "common sense" undewriting, they do have some stipulations. Find out here why FHA is worth considering.
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The Truth About FHA Loan RequirementsBefore applying for a loan, you need to be aware of what you are getting to, and you need to know what to expect with your credit. Here are some basic pieces of information on FHA loan requirements.
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What the FHA Calculator Can Tell YouDetermining your budget is the key part of taking out any loan. Using the FHA calculator can really help you determine what you can qualify for and what you can manage on your new loan.
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The Details on FHA Mortgage RefinancingNow more than ever borrowers are looking at FHA as a viable option. The FHA rates are more competitive since these loans are backed by the government. If you refinance now, you may never need to refinance again.
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Getting an FHA Purchase LoanGetting an FHA purchase loan is a wise choice, and there are many benefits to buying using an FHA loan. The average rate is 5.75%, and once you buy you may never need to refinance again.
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The Growth of the Underground Refinance BoomThe FHA streamline loans came into the picture in the early '80s, but it has continued and many families are looking at it as an option. You can get a rate so low that you won't have to refinance again.
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What the Lender Doesn't Want You to Know About Your MortgageThe truth is, banks would love for you to stay in debt forever. How do I know that? Rates are at a 50 year low, but they aren't advertising it. Why? Let's take a look.
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What Mortgages Are Available Today?There are so many options out there if you are planning to buy a home, or if you are just looking to refinance the one you have. Here is what to look for and why.
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The Quick and Easy FHA Loan ProcessNothing in life is "easy", but there are some steps you can take to make the FHA process easier on yourself and everyone involved.
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How Does a Short Sale Work?Listing a short sale and abiding by the process does require that you follow some steps. Take a look.
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Is Buying a House Stressful?It has been said that buying a house can be one of the most stressful life events in one's life. Right now, it shouldn't be if you have the right professional.
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What is an FHA Cash Out Loan?An FHA cash out loan can be beneficial for many reasons, whether it's home repair or paying bills off. Here are some of the details.
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The Good and the Bad with Custom MortgagesThe term custom mortgages can certainly mean more than one thing. The idea is that it can be custom made for you and your situation. It meant something different five years ago than it means today.
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Defining Poor CreditGetting to the heart of your poor credit will change your life. It isn't easy, and no doubt the process can be stressful, but working through it will help clear the way to better finances and prepare you for the future.
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What Makes a Low Credit Score?Having a low credit score can really mess things up for your future. It affects your ability to buy, and may even affect your car insurance rates. Here are some ideas as to what makes a low credit score.
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Bad Credit?How do you know if you have bad credit? There is only one way to find out. You can start by pulling your credit report and taking other small steps to fix it. Here are the details.
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The Mechanics of an FHA LoanAn FHA loan is beneficial for many reasons. No two borrowers are created equal, but FHA is creating options that are available and may be just what you need.
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The Best in FHA MortgagesWhy are FHA mortgages the best? They offer the best rates, and they offer commonsense solutions, with a commonsense approach to underwriting.
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The Defintion of an FHA MortgageMany who are looking to buy a home are under the impression that FHA is the lender. FHA simply insures loans for the lender when the borrower defaults, but they do offer programs that are beneficial to all. Take a look.
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The FHA Employment RequirementsHolding down a job is critical when applying for your home loan. The lender must know that you have the ability to repay your loan. Here is what FHA is looking for when granting an approval.
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FHA and Electronic SignaturesFHA has made so many changes over time, but the most recent changes included electronic documents and signatures. Here just a little bit of insight into the changes of the industry today.
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The FHA Down Payment GiftWhile FHA allows gifted funds for down payments, there are some new rules and they are there for your best interest. Here is some information about them, and what they mean for you.
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Changes in the Short Sale Process for 2010Changes to the short sale process were made in April of this year, and these changes affect even the servicer of your loan. Take a look.
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The Short Sale BoomShort sales have kept our market volatile from January of 2009 until now. Will it change? Here are some statistics and my thoughts on the market trends.
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The Short Sale and Foreclosure StampedeAs we entered the year of 2010, short sales and foreclosures were both to an all-time high. Here is some helpful information on why you should try to negotiate a short sale if you can.
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FHA Eligbility RequirementsFHA eligibility requirements changed in the wake of escalating defaults on mortgages. What is the next step, and how do we change it? FHA had their thoughts on that very thing.
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Energy Efficient Mortgage Program with FHAAmongst the programs that FHA has, the Energy Efficient Mortgage Program is a great option. Here are some of the details.
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Why Using an FHA Calculator is ImportantIf you are preparing to buy a home, don't act until you have used an FHA calculator so that you can have a realistic expectation on how much of a house you can afford.
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What is a Short Sale Addendum?When asking for a negotiation on a short sale, there are many details involved. When a short sale addendum pops up, you need to know how to handle it. Here are some important details that you need to know.
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Telling the Bank Your TroublesWhen struggling with your mortgage payments, you experience a lot of stress. Conveying that to the bank is important, so writing a hardship letter that gets to the heart is critical. Here is why.
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FHA and the Compensating FactorsAny borrower can and should consider looking into doing an FHA loan. Here is why the commonsense underwriting approach could be your greatese asset.
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The Word on the FHA Short Term Bridge LoanMany are unfamiliar with the term FHA short term bridge loan. It's available, but you have to know the facts. Take a look.
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What in the World is Front-end Ratio?Applying for an FHA loan can be frustrating when your loan officer throws around terms you don't understand. You need to know how you qualify, so here is some information about the terms you will here while applying for an FHA loan.
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The Basics on FHA Homebuilder CertificationFHA doesn't just want to insure your loans, but they want to ensure that homebuilders who want to be a part of what they do, are doing things right. Here are a few basics on how builders become FHA approved.
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FHA Waiting Periods for Bankruptcy, Foreclosure and Short SalesFamilies are in the process of recovering from past credit obligations are wanting to buy while the prices remain low, but it's important to know if you meet the guidelines on the waiting periods if you want to go FHA.
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FHA and BankruptcyMany families have filed bankruptcy over the past five years, but they want to move on and refinance to put themselves into a better position. Many of those who filed now want to buy too, so what can they do?
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What is an FHA Amendatory Clause?An FHA Amendatory Clause is important documenation that you need to be aware of when buying a home. Here are some details for you, so that you understand what it is and why it exists.
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Are There Tax Implications for Short Sales?Choosing to do a short sale is a better option than a foreclosure. A short sale will aid in saving your credit from a foreclosure, but it may bring tax implications. Here is what you need to know.
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The Answers on Requirements for FHA LendersThose banks or credit unions that want to do FHA loans have to apply and go through an approval process. Here is why FHA is making them be accountable.
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What it Takes to Become an FHA LenderYou need to know that you are working with an FHA professional. You can't do an FHA loan with just anyone.
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The Positive Change in FHA Appraiser GuidelinesWith all of the inflated values that were given to properties, money was loaned on homes that really weren't worth as much as they were being stated that they were worth. New guidelines now hold people accountable.
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How FHA Appraisal Guidelines Have ChangedFHA appraisal guidelines have changed since 2005, and the changes are positive for the lender and the borrower.
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FHA Loan Rates and How They Affect YouWith the volatility of the market and the talk of FHA rates, there is plenty of opportunity available for the first time homebuyer and those who wish to refinance. Here is why.
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Using the FHA Loan CalculatorUsing an FHA loan calculator can help you see what you owe and what you have coming in, so that you can be honest with yourself about your situation and what you can afford to spend on a new home.
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Buying an FHA Approved CondoCondos are an interesting market, and many people who don't want a lot of upkeep will buy them. Here are some guidelines on buying an FHA approved condo.
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FHA RequirementsFHA is a great loan for any borrower to take on, but there are some requirements you need to be familiar with, and this is what they are.
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Defining an FHA MortgageMedia bombards us everyday with tons of information regarding the economy and FHA mortgages. So, what does getting an FHA mortgage really mean? Let's talk about it.
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FHA Loans, and Knowing Your ResponsibilitiesWhile FHA is a great choice for those buying or refinancing, you are still responsible for what terms you choose and what you sign. Here are some basic homeownership responsibilities you need to be aware of.
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Mortgage Modification Scams and What You Need to KnowDesperate homeowners everywhere are seeking mortgage modification programs to assist in saving their home from foreclosure. Here are some key points on the mortgage modification standards.
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How Do I List My Home for Short Sale?Many families would like to explore the option of listing their home for short sale, but they just aren't sure who to go to. Here is the answer to that question.
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Can I Buy a Home in 2010?Buying a home this year is possible, but there are things that everyone should know before they get started. Here is some basic information for those looking to buy a home in 2010.
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Looking Out for Short Sale FraudShort sale fraud is on the rise, even in this tough market. Because short sale fraud is hard to detect, the level of short sale fraud is hard to put a percentage on, and here is why.
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What Are the FHA Guidelines?You don't have to be perfect to get an FHA home loan, but there are some small details you will want to know.
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Who Benefits from a Short Sale?With all the talk of short sales, many don't know what they are. Here is some information to help you understand what they are and when they occur.
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Purchase a Home Using FHAAfter hearing that this is a great time to buy, your questions remain unanswered. Here are some basic details on buying a home through FHA.
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Is There Life After a Short Sale?Walking away from your home, or allowing the bank to file a foreclosure on your home can be devastating. Negotiating a short sale can help you win the battle, and it will allow you to continue to live and prosper.
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Short Sales and the DetailsShort sales are more common than they used to be, but there is a benefit. It can work out to benefit all involved, but there are some things you need to know.
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The Pain of a Strategic DefaultIf you feel that your mortgage payments are too high there are options for you before you decided to move out and walk away. Planning to default is not really strategic at all, and here is why.
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FHA: The Smart Choice for BorrowersFHA has been misunderstood as a loan for those with poor credit. FHA is for anyone who is looking for a low down payment, or just a more secure loan. Here are a few details.
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Do Current Market Conditions Affect Me Buying a Home?With all of the changes in the mortgage industry, it might make you feel uncomfortable with going through the process of buying a home. Here are some things that everyone needs to know.