Top 4 Reasons to Buy a Home Now – Wall Street Journal Video

In this Wall Street Journal Video Brett Arends discusses the top 4 reasons to buy a Home now: Mortgages are cheap You can get a good deal on the home It’s a protection against inflation, and There are many homes to choose from Watch the video and let me know your thoughts. If you would […]

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California FHA Loans after Foreclosure, Bankruptcy, Judgment and Collection

In this post I am talking about eligibility guidelines for a FHA Loan after you have gone through Judgment, Collection, Bankruptcy or Foreclosure. This applies to residents of California, Washington, Oregon and rest of the country. FHA Loan after Collection and Judgment: FHA does not require that collection accounts be paid off as a condition […]

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How to qualify for FHA Negative Equity Short Refinance on a San Jose Home

Department of Housing and Urban Development (HUD) announced enhancements to the existing Making Home Affordable Program (MHA) and Federal Housing Administration (FHA) refinance program that will give a greater number of responsible borrowers an opportunity to remain in their homes. These enhancements are designed to maintain homeownership by providing borrowers, who owe more on their […]

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FHA reduces upfront Mortgage Insurance for San Jose First Time Home Buyers

FHA today announced reduction in upfront Mortgage Insurance Premium (UFMIP) for San Jose First Time Home Buyers and FHA Streamline Refinance on San Jose homes. A change that has been prompted by passage of H.R. 5981 in the congress, will reduce the upfront mortgage insurance premium to 1% from the current 2.25%. At the same […]

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Can I purchase a new home if my spouse does a Short Sale?

Short sales, in most cases, are one of the most economical solutions for all parties involved when a borrower can no longer afford their home. The bank typically incurs a smaller financial loss than would result from an ultimate foreclosure or continued delinquency on the mortgage payments. Borrowers may be able to soften the overall […]

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Benefits and Drawbacks of a short sale on a California Home

There are many benefits to a Short Sale versus a Foreclosure for a California homeowner, but there also many drawbacks to a short sale that need to be considered before deciding on the best course of action. A short sale is a great option for California┬áhome owners who need to sell their home and owe […]

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Looking for a reason to Refinance – How about the lowest rates in 40 years!!

CNBC and Bankrate.com just reported that home loan rates are at their all time lows. Yes, all time lows! This is great news for anyone who has yet to refinance to take advantage of the lowest rates ever recorded, or to purchase that new home or investment property more affordably than ever before. Both 30 […]

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Short Sale vs. Foreclosure – What you need to know to make an informed decision

Whether you should do a short sale or let the home go to foreclosure depends on several factors. While for some homeowners, it is easier to throw up your hands and let the bank take your home, that might not be the wisest thing to do. Short Sale Benefits Here are a few benefits for […]

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Fannie & Freddie make it difficult to qualify for ARM and Interest only loans

Fannie Mae and Freddie Mac are making the following changes to interest-only and 3/1 and 5/1 ARM Loan Programs. These changes go into effect immediately. Interest Only Product Changes Interest only transactions are no longer available for Cash-out refinances, Investment properties and 2 to 4 unit properties. Interest only loans are still eligible on following […]

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Resources for FHA Approval Process for San Jose Condominiums

FHA recently announced additional resources for condominium approval process for San Jose and rest of the country condos. All condominium inquiries, telephone and email, must be submitted to the FHA Resource Center at:(800) 225-5342 or by email at: info@fhaoutreach.com The FHA Resource Center will provide responses to general inquiries received from consumers and industry partners. […]

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