Over the previous several months mortgage lenders, and therefore customers, have seen many changes to requirements to obtain a mortgage loan. Conventional loans have seen the most changes, leaving FHA financing as a great alternative to many potential home buyers. So what does it take to obtain a FHA loan these days?
About FHA
FHA, or Federal [...]
Archive for November, 2008
Mortgage Refinance – Does it Make Sense?
Refinancing is a serious decision that will be based on emotion, money and both short and long term impacts. Deciding whether or not now is the right time can be a difficult process, especially when you know you can get a lower interest rate. So how do you go about determining if refinancing makes sense [...]
Free Credit Report
Many people I talk to have heard about getting their FREE credit report at www.freecreditreport.com because they have heard the catchy commercials they have singing about getting their free report. The advertising is exactly correct; you can get a free credit report from their site IF you sign up for their Triple Advantage Credit Monitoring. [...]
8 Questions to Ask Your Lender
I was planning to start this post telling you about how important a home purchase and mortgage financing transaction can be, but I think everyone already knows that. Before I jump right into the questions, I want to explain the questions I am suggesting you ask. Most sites on the Internet suggest asking specific questions [...]
FHA Short Sale Warning
Avoiding foreclosure is always a good option, and a short sale is one option many homeowners turn to when they are unable to continue to make payments and owe more on the home than they could sell it for. There are different rules on how short sales can impact the seller when looking to obtain [...]
Mortgage Calculator
Beware of online mortgage calculators because they may not give you the full story. Most buyers these days are researching mortgage information online before they ever speak to a mortgage lender to become educated and ready to handle this huge purchase. Many of these buyers are searching for mortgage calculators online to help them to [...]
Foreclosure Help is On the Way
Fannie Mae, Freddie Mac, Bank of America, J.P. Morgan Chase, HSBC and CitiMortgage are a few of the mortgage industry giants working to provide relief to homeowners who are behind on their mortgage and have very little, if any, equity in their homes through a streamlined mortgage modification program. Many of the large news stations [...]
