WHAT TO DO IF MORTGAGE COMPANY WILL NOT PARTICIPATE IN FHA SHORT REFINANCE PROGRAM?
by SS&SS Question by desperate in cleveland: WHAT TO DO IF MORTGAGE COMPANY WILL NOT PARTICIPATE IN FHA SHORT REFINANCE PROGRAM? have underwater mortgage Best answer: Answer by SweatingTwo separate things. – Short Sale – Harp2 Refinance program No such thing as FHA short refinance program. Know better? Leave your own answer in the...
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HARP Study: Your Loan-to-value products in Affects Your Choice Mortgage The 30-year fixed rate mortgage increased its market share compared to other mortgage products. In part because of the HARP 2.0 refinance selected households. Benchmark product with the highest rate in 18 months 15-year fixed mortgages have … For more informaiton please visit here … Treason – for his father’s dream – The obsessional neurosis of Barack Hussein Obama II in the White House Image by Richard Loyal French “”The President isn’t exactly a socialist. So what’s driving his hostility to private enterprise? Look to his roots. Barack Obama is the most antibusiness president in a generation, and perhaps in American history. Thanks to him the era of big government is back. Obama runs up taxpayer debt not in the billions but in the trillions. He has expanded the federal government’s control over home mortgages, recipe investment banking, more about health care, autos and energy. The Weekly Standard summarizes Obama’s approach as omnipotence at home, impotence abroad. The President’s actions are so bizarre that they mystify his critics and supporters alike. Consider this headline from the Aug. 18, 2009 issue of the Wall Street Journal: "Obama Underwrites Offshore Drilling." Did you read that correctly? You did. The Administration supports offshore drilling–but drilling off the shores of Brazil. With Obama’s backing, the U.S. Export-Import Bank offered billion in loans and guarantees to Brazil’s state-owned oil company Petrobras to finance exploration in the Santos Basin near Rio de Janeiro–not so the oil ends up in the U.S. He is funding Brazilian exploration so that the oil can stay in Brazil. More strange behavior: Obama’s June 15, 2010 speech in response to the Gulf oil spill focused not on cleanup strategies but rather on the fact that Americans "consume more than 20% of the world’s oil but have less than 2% of the world’s resources." Obama railed on about "America’s century-long addiction to fossil fuels." What does any of this have to do with the oil spill? Would the calamity have been less of a problem if America consumed a mere 10% of the world’s resources? The oddities go on and on. Obama’s Administration has declared that even banks that want to repay their bailout money may be refused permission to do so. Only after the Obama team cleared a bank through the Fed’s "stress test" was it eligible to give taxpayers their money back. Even then, declared Treasury Secretary Tim Geithner, the Administration might force banks to keep the money. The President continues to push for stimulus even though hundreds of billions of dollars in such funds seem to have done little. The unemployment rate when Obama took office in January 2009 was 7.7%; now it is 9.5%. Yet he wants to spend even more and is determined to foist the entire bill on Americans making 0,000 a year or more. The rich, Obama insists, aren’t paying their "fair share." This by itself seems odd given that the top 1% of Americans pay 40% of all federal income taxes; the next 9% of income earners pay another 30%. So the top 10% pays 70% of the taxes; the bottom 40% pays close to nothing. This does indeed seem unfair–to the rich. Obama’s foreign policy is no less strange. He supports a 0 million mosque scheduled to be built near the site where terrorists in the name of Islam brought down the World Trade Center. Obama’s rationale, that "our commitment to religious freedom must be unshakable," seems utterly irrelevant to the issue of why the proposed Cordoba House should be constructed at...
Read MoreMortgage Rates: Consumer Sentiment Disappoints But Keeps Mortgage Rates …
Mortgage Rates: Consumer Sentiment Disappoints But Keeps Mortgage Rates … Seller concessions up to 6% are often utilized to help pay the higher FHA closing costs (APR) which is due to the upfront mortgage insurance premium and other FHA fees. With record low FHA mortgage rates available, sickness troche homeowners have been refinancing … For more informaiton please visit...
Read MoreI received a letter that I may qualify for lower mortgage payments for my FHA Loan.?
Mortgage Refinancing: Wait or Move Now? The CoreLogic Home Price Index is up 2.5 percent from a year ago and the Federal Housing Finance Agency's purchase-only index reached its highest level in nearly two years, order medicine after growing 3.7 percent from last year — the fastest pace since September … If you would like more informaiton please visit here… Arizona State Credit Union reports members' HARP savings Arizona State Credit Union saved 600 of its members more than $ 2 million each year by participating in the federal government's Home Affordable Refinance Program. The average member saved $ 369 on monthly mortgage payments, website the credit union reports. More informaiton please visit here… Question by Go with the flow: FHA has no mimimum mortgage requirement, website but banks will only make a loan for so little? True or False. Let’s say you find a house for $ 8, information pills 000 From what I have read, there FHA does not have a minimum requirement. But, from what I have read most banks do not make mortgages for loans under 40K or 50K. My guess is all the paperwork and costs would be too great for an amount so small. Anyone an expert on this? I am sure there are banks out there that will do mortgages for only 30K, but I can’t imagine it being worth their time to do a mortgage for less Best answer: Answer by djstwainAs with any business they get to decide what loans will make them money. When you take into consideration the cost of doing business, it may not makes sense for them to write a loan for under $ 20,000. I would try a credit union or local regional bank. What do you think? Answer below! Question by tiredbutwiredlove: Obama’s loan modification program and 2nd mortgages? We have 2 mortgages. Our first mortgage company will do the new modification, cure but does our 2nd mortgage company have to? I’m confused how Obama’s new plan covers those of us with second mortgaes who have lost our income. I know we would be able to refinance and put them together under the new plan, more about but I still don’t think it would save us much, and not as much as getting both of them modified. Any help in understanding this would be great! Best answer: Answer by Gaytheist BuddhaNo help for second mortgages. What do you think? Answer below! Question by Spokesmodel: I received a letter that I may qualify for lower mortgage payments for my FHA Loan.? I received a letter from Newport Shores Mortgage that I may qualify for a payment reduction on my FHA loan. Is this a scam? I contacted my mortgage company (Wells Fargo) a few months ago and they told me that FHA loans don’t qualify for any of the Obama programs, nurse but that it could change in the future. I looked up Newport Shores Mortgage on the HUD official website and they are listed as a qualified lender. I don’t want to get scammed and potentially lose my home, but I do need some help lowering my monthly payment. Does anyone know anything about this? Best answer: Answer by patrickwell… you are being partially scammed. What they did was search through the recorded deed documents, or through credit reporting agencies, and determined the value of your current loan, and the interest rate you are paying. Then they determined that you may qualify for a new FHA loan at a lower rate. They are really looking to get you to refinance your loan, through them....
Read MoreQ&A: What type of loan?
Question by alc04@verizon.net: What type of loan? We are looking to buy a multi-family home the bottom floor is completely finished however the second floor is still under construction and the owners ran out of money to complete it. We just received word that a conventional loan will not work because the second floor is not finished. What type of loan would we need to purchase the home? Best answer: Answer by Alex RYou will need a construction loan to complete the project and then switch this to a permanent loan once complete. If you have a home right now you can do a bridge loan also to complete the project. Let me know if I can help. Good luck! What do you think? Answer...
Read MoreFHA has no mimimum mortgage requirement, but banks will only make a loan for so little?
Mortgage Refinancing: Wait or Move Now? The CoreLogic Home Price Index is up 2.5 percent from a year ago and the Federal Housing Finance Agency's purchase-only index reached its highest level in nearly two years, order medicine after growing 3.7 percent from last year — the fastest pace since September … If you would like more informaiton please visit here… Arizona State Credit Union reports members' HARP savings Arizona State Credit Union saved 600 of its members more than $ 2 million each year by participating in the federal government's Home Affordable Refinance Program. The average member saved $ 369 on monthly mortgage payments, website the credit union reports. More informaiton please visit here… Question by Go with the flow: FHA has no mimimum mortgage requirement, website but banks will only make a loan for so little? True or False. Let’s say you find a house for $ 8, information pills 000 From what I have read, there FHA does not have a minimum requirement. But, from what I have read most banks do not make mortgages for loans under 40K or 50K. My guess is all the paperwork and costs would be too great for an amount so small. Anyone an expert on this? I am sure there are banks out there that will do mortgages for only 30K, but I can’t imagine it being worth their time to do a mortgage for less Best answer: Answer by djstwainAs with any business they get to decide what loans will make them money. When you take into consideration the cost of doing business, it may not makes sense for them to write a loan for under $ 20,000. I would try a credit union or local regional bank. What do you think? Answer...
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