The HUD 2221(d)(4) loan guarantee program features a fixed interest rate amortized over 40 years, it’s non-recourse to the borrower and is assumable for the next buyer. In spite of all these advantages, this program is not for everyone. This article will help you determine if it might work for you.
feedburner- What the Heck is Hard Money Lending? September 5, 2010Hard money lending has become a vibrant, and highly professional business, but for most people its true definition and place in the financing world remains a bit of a mystery. This overview will explain how hard money loans work in … Continue reading → […]
- Finding the Best Deal Remortgage Options September 5, 2010There are many reasons one may wish to remortgage their home. If your current interest rate is well above those currently being offered, it will almost certainly benefit you to switch to a new mortgage with a more competitive rate. … Continue reading → […]
- Are Jumbo Mortgage Rates Something to Consider? September 5, 2010If you’re looking to buy a house then you know that mortgage rates are just one of several things you need to consider. You need to consider your budget of course as well as legal costs, closing costs and commissions. … Continue reading → […]
- Mortgage Modification – What is It? September 5, 2010A mortgage loan modification is a change in one or more of the original terms of a mortgage loan. These terms can be the interest rate. The length of the mortgage. The type of mortgage, variable to fixed as example, … Continue reading → […]
- Differences Between Residential and Commercial Mortgage Deals September 5, 2010Differences between Residential and commercial mortgages. Main factors dividing the two. Source:Differences Between Residential and Commercial Mortgage Deals […]
- Public Debate on Revisions to FHA Guidelines September 4, 2010The public was invited on July 15 to comment on three U.S. Department of Housing and Urban Development initiatives designed to help restore the Mutual Mortgage Insurance Fund capital reserve account. More than 900 comments were received by the comment … Continue reading → […]
- Wachovia Vs. WaMu Debated by Regulators September 4, 2010In an appearance before the Financial Crisis Inquiry Commission, regulators testified about the why there was disparate treatment in the resolution of Washington Mutual Inc. and Wachovia Corp. The Federal Deposit Insurance Corp.’s chairman said the FDIC had known for … Continue reading → […]
- Reverse Originations Gaining Steam September 4, 2010The U.S. Department of Housing and Urban Development reported last week that reverse mortgage originations climbed to 5,901 loans for a maximum claim amount of $1.5 billion in July from 5,304 loans endorsed for $1.3 billion a month earlier. It … Continue reading → […]
- Surprise Increase in Mortgage Jobs September 4, 2010The number of mortgage jobs was up by 2,300 positions in July, according to data released Friday by the U.S. Department of Labor. Headcount in "real estate credit" was up by nearly 3,000 jobs. But "mortgage and nonmortgage loan brokers" … Continue reading → […]
- 2010 Bankruptcies Top 1 Million September 4, 2010Consumer bankruptcy filings during August fell 8 percent from July, the American Bankruptcy Institute reported. The decline followed a bounce in July. Year-to-date Aug. 31, 2010, filings totaled 1,034,843. […]
- What the Heck is Hard Money Lending? September 5, 2010