FHA Waives 90 Day Rule for Investors Who Renovate and Sell Properties purchased for renovation or repair by investors for resale were not eligible for FHA loans until 90 days after the purchase. As of February 1, that's changing. The FHA is waiving … [Read more...]
Get Your FHA Loan Now – Waiting Will Cost You Big Money
January 20, 2010 by 2 Comments
Borrowers to Pay More for FHA Loans With rule changes that will be coming in the summer, an FHA loan could cost you 10% more to close. That $20,000 on a $200,000 loan. 3.5% Down Payments and seller concessions of up to 6% will soon be a thing of the … [Read more...]
Daytona Beach Real Estate Market Boosted by US Treasury
January 7, 2010 by 1 Comment
US Treasury Removes Limits on Public Money for Freddie Mac and Fannie Mae There is little doubt that the Daytona Beach homes market has been boosted by US government actions. The home buyers tax credit, FHA, Freddie Mac and Fannie Mae backing … [Read more...]
FHA Loans for Short Sales – Does The New Policy Affect You?
December 30, 2009 by Leave a Comment
HUD Tightens Rules on FHA Short Sale Loans A homeowner short sales their home because the home value is less than the mortgage owed. Then, they spot a great deal on a short sale home in the same neighborhood. Now if they can get FHA financing with … [Read more...]
New FHA Loan Condos Rules
December 21, 2009 by 1 Comment
New Rules for FHA Condo Loans The FHA has published some new rules for condo loans. These rules are more stringent and are designed to protect the agency from defaults and fraud. The New Rules 30% of the units must have already been sold A big … [Read more...]
