by Phyllis Rockower | Sep 10, 2013 | Housing News
Up until now, FHA made people who filed bankruptcy or did a short sale or walked away, wait 3 years to get a new loan. Now they have made it one year. There are restrictions, however. You must show that your situation was caused by external forces that reduced your...
by Phyllis Rockower | Sep 10, 2013 | Uncategorized
FHa announced plans to cut the max amount of loans that can be backed by Fannie Mae and Freddie Mac. Right now it’s 417 for most of the country and 625 for Ca.How much is not clear. this will take place Jan 1. It may not make a big deal for the high end since...
by Phyllis Rockower | Mar 6, 2013 | Housing News
Someone sent this to me but i can’t remember who. Thought i’d pass it on anyway. 1) “Free” credit report scores are accurate and reflect mortgage report scores. No. For the purposes of obtaining a mortgage; free credit reports are literally worthless. 2) A...
by Phyllis Rockower | Feb 20, 2013 | Housing News
Can I have the deed please? When talking to sellers, your main objective is to get the deed with as little money out of your pocket as possible. The deed is the most important and powerful method of controlling a property. Sure you can control with out owning but that...
by Phyllis Rockower | Oct 10, 2012 | Real Estate News
Wells Fargo was sued by U.S. attorney’s office in Manhattan. FHA is saying that wells approved thousands of fraudulent loans that FHA had to cover since they insure the loans. FHA is a quasi-government arm and they got hammered because they had to cough up...
