January 28th, 2010
A client of mine trying to purchase a home very recently had questions about credit repair and how to get started. Many of the calls I receive and quite a few clients I have are all in search for ways to improve their credit score. I thought this would be a great topic to write [...]
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January 25th, 2010
HUD and the FHA have officially waived some major components of what's known as the 90 Day Flip Rule. Basically, this rule forbid the use of FHA loan guarantees for the resale of a home within 90 days of a previous change of ownership. Therefore the old 90 day flip rule prevented a buyer to [...]
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January 21st, 2010
The HELOC, or Home Equity Line of Credit, was a very popular loan type during the years of rising home prices. It seemed that equity increases were the rule, and the HELOC was a safe bet for both the homeowner and the lender. Many homeowners took significant amounts of cash out of their equity to [...]
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January 19th, 2010
Though cash purchasers and some borrowers are able to pay their own taxes and home insurance, most of those with mortgages have a set amount put away out of each payment into escrow to pay those important expenses. Lenders have required this system in order to protect their interests by making sure that tax liens [...]
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January 11th, 2010
On Christmas Eve, the U.S. Treasury announced that the federal government would now provide up to $200 billion each to Fannie Mae and Freddie Mac to back losses and keep them solvent. Though the amounts given the two mortgage giants to date are $60 billion to Fannie Mae and $51 billion to Freddie Mac, losses [...]
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