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 […]

In my last post, I discussed the process for buying a foreclosure. And as you might have read, unless there is a unique situation, the process ultimately runs parallel to the normal mortgage process. And while many people put foreclosures and short sales in the same group in just about every sense, from a “getting […]

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 […]

A few months ago, I blogged about the MSHDA down payment assistance program for first time home buyers. It is a wonderful program for people living in the great state of Michigan which offers up to $7500 to borrowers to help them purchase a home. The $7500 can be used as a down payment, and […]

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 […]