Mortgage Qualification???
Question by oldwiseone: Mortgage Qualification??? I want to know when will I be able to qualify for any kind of mortgage again. I had a FHA mortgage that was forclosed on in 2007. I am told that I will not be eligible for another FHA loan until 2010. I also have a bankruptcy that has been discharged for the past two years. I have been rebuilding my credit and my scores are mediocore right now. I am ready to purchase another home and stop renting. Any advice? Best answer: Answer by Biggie @ Arbor MortgageYou may have to wait even longer because of a foreclosure after a BK. You will have to keep renting for the meantime unless you have a considerable down payment. What do you think? Answer...
Read MoreIs 22k too much for closing costs. FHA loan the way to go?
Some cool castle images: Pevensey Castle Image by me’nthedogs In Sussex. A pre dinner stroll. Far more great houses click here… Question by toodd: Any idea to find used car loan for bad credit? My friend has good income, viagra dosage but bad credit on mortgage payment, symptoms so banks rejected! Best answer: Answer by chuckles951Bad credit means that they are iffy at paying their loans. The credit crunch put an end on places taking chances on people with bad credit. They need to reduce their expectations and live with a car they can save up for. What do you think? Answer below! Time to Act Is Now to Avoid Higher FHA MIP In approximately one month from now, pilule the costs for FHA mortgages will be changing as the latest guidelines have already been released. It is time to act now to avoid the higher FHA MIP (mortgage insurance premium) that is set to go into effect. FHA … If you would like more informaiton please visit here… Official FHA Mortgage Insurance Cancel Rules Changed The ability to cancel monthly mortgage insurance premiums will shrink to zero for most new FHA borrowers beginning in June. Since 2001 the basic policy has been that borrowers could cancel their FHA mortgage insurance premium (MIP) once their loan … More informaiton please visit here… How FHA's Qualifying Ratio Affects Home Buyers According to FHA guidelines, try the total monthly mortgage payment expense includes principal, viagra dosage interest, escrow deposits for real estate taxes and homeowner's insurance, mortgage insurance premium, any homeowner association dues, ground rent, special … If you would like more informaiton please visit here… 'Save Egypt's Economy' Conference: Round-up … dean of the Business School at Ain Shams University, price stated that the best way to close Egypt's budget deficit would be to limit spending, salve increase government revenues, no rx combat smuggling, activate real estate taxes and seek both domestic and foreign … More informaiton please visit here… Big downtown Eugene project no longer hush-hush “This application is a great example of the public/private/nonprofit partnership and works well with the objectives stated in (the) vision for downtown,” Levis said in an e-mail. HACSA — which provides housing for low-income county residents — would … More informaiton please visit here… Tracy man pleads guilty to mail fraud Dodson, a loan officer for W.B. Financial, helped get three of the properties financed. The properties were purchased at inflated prices, and, in most cases, using 100-percent financing, to provide large kickbacks to those involved, prosecutors said … More informaiton please visit here… Street Capital Improves its Stated Income Mortgage … its stated income rate surcharge; Adding commission income as an employment type; And giving its stated products all the features and flexibility of its regular mortgages. Street lends up to 65% loan-to-value on its conventional Stated Income Program. More informaiton please visit here… Question by jane: how can i sell two real estate news boxes? i have two green, pharm house-shaped, generic plastic news boxes that are in good shape, and are intended to be used for real estate flyers. i would like to sell them, but i have no idea where to start. does anyone have any ideas? Best answer: Answer by linkus86Go to a local real estate offices and offer them to the agents there. Or leave a flier with a picture of what you have to offer. You might want to check what it cost to buy these things new, and price them as used (a deal to your potential customers). I doubt they are worth much to...
Read MoreQ&A: What kinds of things does FHA look for when inspecting a home for sale?
Question by swaroop: Can I claim Income Tax for home loan which(flat) is under construction? Can I claim Income Tax for home loan which(flat) is under construction. Do I need to occupy the house for claiming the Income Tax. What is the criteria for claiming and how much I can claim. Best answer: Answer by Himanshu GoyalAs per indian income tax act 1961, erectile cost you can claim deduction for repayment of home loan(principal amount) for home which is ready and not under construction. this deduction is available under section 80c upto maximum of rs. 1 lac. also u can claim interest deduction under section 24 after the completion of house and the interest for the period of construction can be claimed after construction in 5 years. Add your own answer in the comments! Question by In the Kitchen: What kinds of things does FHA look for when inspecting a home for sale? What structural items are they looking at when a buyer applies for an FHA loan? Best answer: Answer by Lisa LFHA does not do an inspection. An FHA appraiser does the appraisal. FHA has cut back on the rigid rules of a few years ago. That is why you should have an inspection done. The appraiser will look in the attic for possible leaks or damage. S/he will go into crawl space. Be sure there is a vapor barrier in the crawl space. Broken glass is a problem but cracked glass is no longer a problem. That was a big surprise to me. The house should be safe, sildenafil sound & sanitary. A raised deck with no railing would be an issue as well as open stairs with no handrails if more than 3 steps. Peeling paint outside is an issue, more about possibly inside if house was built before 1978. The appraiser is not an inspector. Unless it is glaring it probably will not be an issue. I repeat, get an inspection. What do you think? Answer...
Read MoreQ&A: What is the Condo Development Requirement for FHA Loan approval in Atlanta GA?
Question by gregwhatshisname: Has Freddie Mac started to introduce any loan modification programs for banks? I have been unemployed for the last 60 days and my Credit Union has been telling me that Freddie Mac keeps delaying these “Webinars” that need to be held before any loan modifications can take place. The C.U. has told me for the last three weeks that they have not been told what the qualifications are in order to get a loan modification. Is this true? Do I have to wait for my credit union to have a “WEBINAR” with Freddie Mac before I can get a loan modification? Best answer: Answer by golferwhoworksso far they have done nothing What do you think? Answer below! Question by ewilliam: Questions about an FHA mortgage? My girlfriend and I are in the process of looking for our first place. We found the condo we’d love to purchase and are now looking to take the next step. The condo price has been reduced to $ 140, price 000 and we are located in Michigan. It seems we’d be looking into a FHA loan for 30 years, dosage but I have some general questions about getting a loan based on our credit and income. Hopefully someone can give me some insight so I know what to expect. Basically she is a 728 credit score and has always paid everything perfect. As for her income she makes around $ 40,000 per year. Myself am much lower with my credit score at a 587 and make around $ 45,000. With my credit, I have never really paid anything late, have never defaulted on anything but between three credit cards I hold with a combined limit of around $ 3500 the cards are maxed out which I know is hurting me right now. I am in a position where I can completely pay them off right now or at least pay them down almost all the way depending on what is more beneficial to my credit score. I can’t think of any other reason my score is where it’s at right now. If I do pay them off or down, will I even see much of a quick rebound in score, or enough to make any difference? I have two 30 days late on credit cards in the last 5 years showing on my credit report, and have never been late on an auto loan payment – payments ranging from $ 340-$ 650. My current highest minimum amount due on a credit card is $ 60 per month. Hopefully that helps give some background to my situation. So all in all if someone can offer me a little help or advice I would appreciate it. Also, do they use both scores on a joint mortgage and how do they take both incomes into account? Thanks in advance! Thanks for the responses so far. No, I have not been pre approved yet. That’s the next step. I was referred to someone, I emailed and called today, however their email response said they are out of the office until the 29th of this month for the holiday. Since this is all new territory for me I’m really not sure who I should take to other than the person I was referred to by the condo community. What exactly will I need to provide in order for a pre approval? Should I be shopping around, and if so, how do I go about doing so? Sorry for the ignorance on this subject, this is all unfamiliar. Best answer: Answer by src50If you are both...
Read MoreDoes anyone know a mortgage company or broker that goes by FHA rules?
Check out these massive residence images: Construction at Michigan Stadium (the Big Residence) – University of Michigan’s Football Stadium Image by cseeman Massive rennovations at the Huge Home – Michigan Stadium – at the University of Michigan’s Ann Arbor Campus. If you would like to see more houses click right here… Hasty Loan Denials of HARP Refinance Applications Mislead Thousands of … National Mortgage Lender Network, abortion HARPMortgageLender.com (http://www.harpmortgagelender.com), drugs blames hasty loan application denials for the most recent report of low HARP Refinance numbers for severely underwater homeowners provided by the … If you would like more informaiton please visit here… Question by QandA: Is there an income limit on 203k renovation mortgage loans? I know theres limits on a regular FHA mortgage, cure was curious if the same standards apply. Best answer: Answer by glennThere is not an upper limit on income for an FHA 203 K or a more common FHA 203b. These are not subsidized loans. You do have to make enough money to qualify for the payments. a 203 K is to help with renovation. You have to come up with solid bills (not simply rough estimates) for the repairs and sometimes these can be pretty much impossible to come up with. But if the house works out and the lender knows what they are doing and the seller is willing to have patience and you as a buyer understand how this works- it can be done. What do you think? Answer below! Question by Phillissa: Does anyone know a mortgage company or broker that goes by FHA rules? I’m trying to get a mortgage loan but having a bit of trouble because I am paid commission. I’ve now have two years of commission on tax returns, treat but one year and a half was with one company and the other 7 months were with a different company in a different field. I called FHA and they said I would qualify for an FHA loan under there guidelines and that I don’t have to hold a certain position for a certain amount of time as long as I have two years commission on taxes. They even sent me an email with the rules on that to confirm. Some mortgage companies agree and some don’t even though they claim to do things the same. I found two companies that does things FHAs way but they are so busy they are taking a long time to get me a pre-approval. Is there anyone that is fast and on top of things that is okay with our situation? I’m in Austin, view TX. I wouldn’t mind going convential either if need be. Best answer: Answer by godgedThe FHA is a guarantee, they are not the lender. You are going to have to comply with the rules of the specific lenders and wait it out. Give your answer to this question...
Read MoreHow long do you have to pay Mortgage insurance on FHA loans?
by marsmet526 Question by milisa c: How long do you have to pay Mortgage insurance on FHA loans? I have been paying mortgage insurance for about four years now and my house payment keeps going up. Yes I have a fixed interest rate. Best answer: Answer by delete30 years Give your answer to this question...
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