HUD Suspending 90 Day Rule
January 18, 2010 by Bob Schenkenberger · 2 Comments
HUD’s 90 day rule was a condition put upon home sales stating that if the property was owned for less than 90 days, the owner could not sell it and offer FHA financing. The reason for this was to keep unscrupulous investors from buying low, and re-selling immediately for substantial profit. Investors, rehabbers, and the like, needed to wait a full 90 days before the resale could go through with an FHA loan.
Refi Now or Roll the Dice?
December 12, 2008 by Rebecca Hansen · 1 Comment
With 30 year fixed rate loans hovering around 5%, is this the time to pull the trigger on a re-finance of your mortgage? There are two groups of qualified borrowers who should look at refinancing?
Image by woodleywonderworks via Flickr
Those who have fixed-rate mortgages above 6%.
Those who have adjustable-rate mortgages and want the security [...]
IMPACTING YOUR CREDIT SCORE
November 17, 2008 by Rebecca Hansen · Leave a Comment
How does making an inquiry on your Credit Report effect your credit score???
When a consumer pulls their own credit report, it is considered a “consumer disclosure” request and therefore their credit scores will not be impacted by the pull. However, anytime a creditor accesses a consumer’s credit report it posts a credit inquiry. The credit report [...]
FHA Increases Loan Limits
March 6, 2008 by Bob Schenkenberger · Leave a Comment
Just released; As of March 5, 2008, the Federal Housing Administration and HUD, have Increased the loan limits for FHA insured loans.
In Denver and most of the surrounding counties the limit has increased to $406,250 for a single family residence.
This increase should ease some of the pressure felt on the mortgage market.
For a complete listing [...]
