Many people are facing foreclosure, foreclosed, or completed a foreclosure alternative such as a short sale. The big question is, how do these affect your credit, and when can you purchase a home … Continue reading...
5 Tips For Understanding Your Home Loan’s Good Faith Estimate (GFE)
When you apply for a mortgage, the lender has three days to give you a good-faith estimate of the fees and interest rate you’ll pay, as well as other loan terms. Here are five tips for using the new … Continue reading...
Do I Need 20% Downpayment to Buy A House?
This keeps coming up in conversations I have with people so I want to address this new myth right now. NO. NO NO NO. You DON"T NEED 20% down payment to buy a house. Clarifying this further....you CAN … Continue reading...
It’s More Affordable To Buy Than Rent in Colorado For 2011
A report just came out from Trulia comparing the cost of renting vs owning a home throughout the US. For the Denver CO region, we ranked 13 on the index. 1-15 means it's a more affordable to buy a … Continue reading...
‘Anti Flip Waiver’ Extended – Buyer’s Can Buy Rehabbed Homes W/FHA Financing!
Good news from Washington! FHA extended a temporary waiver of the agency's 'anti-flipping rule. The rule prohibits a buyer from getting FHA financing if the seller has owned the home for less than 90 … Continue reading...
HUD Creates Emergency Loan Program
A substantial number of people in Colorado (and the nation for that matter) have had a loss or decrease of income but would like to keep their home and not foreclose. Well, HUD has launched a new … Continue reading...
Bank of America to Resume Foreclosures in CO
Bank of America (BOA) announced they will resume foreclosures in Colorado very soon. They temporarily stopped foreclosures nationwide on October 8th amid allegations that bank employees signed but … Continue reading...
New FHA Changes are Coming in October – Will it Save or Cost You Money?
Well, our government is changing the fee structure for FHA loans effective this October. In my humble opinion, this is in response to money they have been losing on defaulting FHA loans over the past … Continue reading...
FHA 203k – When You Want a “Fixer-Upper” But Don’t Have $$ For the Fixing!
When a homebuyer wants to purchase a house in need of repairs or updating, he/she usually has to obtain financing first to purchase the home, additional financing for the construction, and then a … Continue reading...
$8k Tax Credit for 1st Time Buyers EXTENDED!! $6500 Credit Added for SELLERS!!
$8k Tax Credit for 1st Time Buyers EXTENDED!! $6500 Credit Added for SELLERS!! Love it or hate it, Congress and Senate passed new legislation that: * Extends the First-Time Home Buyer Tax … Continue reading...