2009 FHA Loan Limits – Washington State

FHA Loan Limits – 2009 – Washington State Counties
Beginning in 2009 there are new FHA loan limits that loan agents and real estate agents need to be aware of.  This will affect borrowers you are currently working with.   If they are searching for a home with 2008 loan limits you will need to advise them [...]

FHA Loans & Bankruptcy

Will FHA allow me to purchase a home while in Bankruptcy?
Yes, but certain conditions have to be met.  We have outlined the conditions in detail about FHA guidelines for obtaining an home with a recent or current bankruptcy. The long and short of it is that you will need to establish financial responsibility and depending [...]

Loan Modification – Don’t Wait!

Don’t wait to begin your home loan modification program.   If you do not qualify for a refinance and you don’t want to sell your home with a short sale or loose it to foreclosure or give it back to the lender with a deed in lieu of foreclosure than you should consider a loan modification [...]

FHA Underwriting Guidelines

FHA Underwriting Guidelines
Mortgage Credit Analysis
The 4 C’s of Credit:
Credit History
Cash to Close
Capacity to Repay
Collateral
All of these topics will be discussed in this post.   There will be revisions to these policies over time so pay attention to the FHA website they will affect a borrowers ability to qualify. These guidelines are extrapolated from the 4155.1 published [...]

$22,000 tax credit being sought by housing industry

The National Association of Homebuilders is pushing for aid to the housing industry.   A major component would be a $22,000 tax credit for people who purchase a home before the end of 2009.
It’s kind a like shootin’ fish in a barrel nowadays with so many bailouts, tax credits, lowered rates, loan modifications, loan workouts, incentives, [...]

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