Category: Michigan Foreclosures

New Help for Those Who Have Had to Short Sell a House

September 11, 2013 Marc Edelstein FHA mortgages in Michigan, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage News, Mortgage Preapproval, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

Last week, I touched upon the new HUD guidelines released which change certain requirements related to people who experienced an economic event during the great recession. These changes allow you to purchase a home much sooner than before, even if you short sold, went into pre-foreclosure, or foreclosed upon a house, so long as you […]

New FHA Guidelines for Financial Hardships (Back To Work)

August 30, 2013 Marc Edelstein FHA mortgages in Michigan, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Mortgage News, Mortgage Tips, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

In a continuing effort to help people rebuild their lives after the great recession, HUD released new guidelines this week which open up the availability for borrowers to qualify for an FHA loan after a “economic event.” Under previous guidelines, to be eligible for an FHA loan, you needed to wait 3 years after a foreclosure,  short […]

What is a HomePath Mortgage?

April 30, 2013 Marc Edelstein First Time Home Buyers, Michigan Foreclosures, Michigan Mortgage Banker, Michigan Mortgage Lender, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

There is some buzz in the mortgage world about Fannie Mae’s HomePath program. It is a program I am often asked about, and have heard some pretty interesting misinformation that my clients have received from friends, family, and the internet. At its core, it is a program to help sell foreclosures currently owned by Fannie […]