Shannon Hubbard from BlogArizona.Com left a really great comment on my post “The VA Loan: Perfect 100% Home Financing for Veterans“. I had always intended to follow upon on these points but she covered it for me. So, I’m going to use her comment and elaborate where I may be able to add  some value. The VA Funding [...]

Borrowers with a subprime mortgage who are refinancing to a FHA mortgage are often not aware of the upfront mortgage insurance premium (MIP). As the name implies, this is paid upfront at the time of close. During the subprime heyday MIP was one of the reasons not to do a FHA mortgage. How the tables [...]

Here is an important update on the Mortgage Forgiveness Debt Relief Act of 2007 (H.R.‚3648) from the Daily Herald: the House Ways and Means Committee voted to permanently remove the so-called “phantom income” tax penalty that haunts financially distressed homeowners whose debt is partially forgiven by a lender after a foreclosure or a “short sale” [...]