Archive | Financing

Lending and financing

Appraisal Tips for Owners and Real Estate Agents

Appraisal photo

How to Obtain a Good Appraisal…. The business of appraisals has changed since I started my real estate career many years ago…. especially when the Dodd-Frank Act was enacted in 2010 which I wrote about in a previous blog “Appraisal Scoop 2012“.  The essence is that real estate agents and lenders can no longer contact […]

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Repairing Your Credit After a Short-Sale or Foreclosure

Credit Score Tips Short-selling your home may be a way to lift a financial burden off your shoulders and the credit effects of a short-sale are definitely negative, but they can be corrected. When repairing your credit there are five factors to consider: Payment history, amounts owed, length of credit history, new credit and, types of […]

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FHA Condo Approval Easier Now

FHA relax rules on Condo Certification The FHA has given encouraging news to condo owners by relaxing the rules for condo certification that have caused thousands of buildings across the country to lose their eligibility for FHA financing. The revised guidelines, that were issued September 13 and took effect immediately should make it easier for […]

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FHA Rescinds Tough New Credit Restrictions

Home Buyers Find It Easier to Obtain FHA Loans In a policy switch that could be important to thousands of applicants seeking home mortgages with low down payments, the Federal Housing Administration has rescinded tough new credit restrictions that were scheduled to take place the beginning of this month. Borrowers who would have been affected […]

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20% Downpayment Proposal – What’s the latest?

The 20 percent proposal is alive but groups are still trying to bury it. The higher initial equity the lower the probability of foreclosure is the belief.  The proposal to require 20% down payment on all mortgages is most likely be pushed back until after the next election.  Analysts estimate this could prevent up to […]

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