Now that subprime loans are a faint memory of the past, we often look to the FHA loans to fill in the void. Not that we miss those ugly sub primes all that much. But alas, FHA does provide a hearty loan for those who may have had a shaky credit past.  So, here are [...]

With so many REO’s  (bank owned properties) there is no telling what state some of these homes might be in. You may fall in love with the neighbourhood, the location or some other attribute of the home and even properties in distress.  You don’t have to give up on the property just because you may [...]

AMG Note: We don’t normally do a lot of guest posts on this blog. However, when Kat Sanders contacted me and asked I felt it was worth a try. So, here is one of her first posts.
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FHA loans are some of the most sought-after loans when people are planning to buy a home, more so [...]

Recently the FHA revised some of its guidelines and announced that they would allow first time home buyers to apply the $8,000 tax credit to offset the costs associated with obtaining FHA mortgage financing.
Heather Barr over at The Phoenix Agent blog has a great blog post detailing all aspects of this provision. For one thing [...]

The New Year has been good to mortgage interest rates so far. Rates are hovering at 5.00% these days. This is just the beginning because the Fed just started buying mortgage papers from Fannie, Freddie. Today the Feds bought $10.2 billion worth and they have a target of buying up to $500 billion by the [...]

Hat tip: Arizona Mortgage Team

Many have already discussed the features of the $300 Billion Mortgage Rescue Package signed by President Bush on Wednesday July 30th. This bill is officially known as HR 3221, the Housing and Economic Recovery Act of 2008. Regardless of what everyone thinks and warns about, this is now the law of the land. I know [...]

Major changes go into affect on the FHA loan program on Monday July 14, 2008. These changes are very significant and will impact the affordability of these loans for many borrowers, especially those will less than stellar credit who can’t put 5% down. Basically, almost everybody in todays market.
Essentially, the Upfront Mortgage Insurance Premium (UFMIP)and monthly [...]

Early in my mortgage career a sales veteran once told me that the best way to solve a customer problem was to throw money at it. I guess this is an even better solution when you’re the ones printing money.
Full story “Housing rescue plan passes key Senate test“.
My opinion:

Just to put things in perspective, I [...]

Two key Senators on the Senate Banking Committee have reached an agreement to help distressed homeowners.
According to Bloomberg:
“The primary goal is to keep people in their homes, but also to help establish a floor and a bottom” to the housing slump, Dodd, a Connecticut Democrat, told reporters during the call.
The proposed legislation would a create [...]