There is a lot of misinformation online in relation to credit and qualifying for a mortgage. Yes, credit is certainly a factor when determining eligibility, but many people qualify who do not realize they do. This can be for a number of reasons – if you or your spouse are a veteran, you qualify for […]

For the last 5 years, there has been a lot of talk about interest rates. Every three months, it has felt like, there has been a new low set in regard to mortgage rates. Then about six months ago, rates suddenly jumped back up, based on perceived economic strength. Now, they are still at unprecedented […]

I don’t think I have ever had a week long period of time in my career when I received as many calls as I have in the last week. Nearly every client I am currently working with has called me with some horror story they heard on the news about a customer losing a contract […]

While the rules for mortgage insurance on conventional mortgages are more clear and more favorable than the new rules on FHA mortgages \, there is still a lot of gray area. This is because each insurance company and each lender have their own specific rules, and each state can have additional rules which further complicate […]

This used to be an easy question to answer, but over the last few months it has become quite a bit more difficult. In 2000, the Department of Housing and Urban Development (HUD) announced that any borrower with an FHA mortgage could have their mortgage insurance removed once they had at least 22% equity in […]

Last week, I explained the difference between a foreclosure and a short sale. And obviously, these houses can be a great option for the right buyer, especially first time home buyers. This week, I would like to explain the process of buying these types of houses, as it can become a little tricky depending on […]

Many of my customers look at foreclosures and short sales to try to find a deal on a new home. There has been a lot of media hype in the last few years around them, and almost anyone will tell you that you can buy a house cheaper this way than through traditional means. But […]

As I’ve been talking about for the last few weeks, new HUD guidelines were released which allow people who have had a foreclosure, short sale, pre-foreclosure, or bankruptcy to purchase a home in as little as 12 months from the incident. To qualify there are certain requirements which must be met, including meeting minimum credit […]

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 […]

In my last post, I discussed how the new HUD guidelines released last week helped those who have had to file bankruptcy. Today, I would like to explain the benefits outlined for anyone who has been through a foreclosure in the last few years. In the past, you were ineligible to purchase a new house […]