HUD announced this week several major changes for FHA loans later this year. Some of this items will not go into effect for several months but are worth noting. Overall, HUD is doing the right thing to keep themselves in business and help consumers be able to purchase homes.

In recent months, I have spoken to quite a few people that are concerned with keeping their expenses low in this economic environment. After all, it’s a smart practice in case the economy has a relapse, you lose a job, or you have some unexpected expenses.

“Will it appraise?” This is the question that every buyer must ask themselves these days before they make an offer on a property. Appraisals are becoming more and more of an issue when it comes to buying a home. Why? Well, there are several reasons for this and I’ll detail some, but not all below.

When [...]

Recently a client of my was told by his credit union that he “should not pay any points” on the new mortgage he was taking out to buy a home. The reason the credit union suggested the client not pay points was that it added too much to the cost to the loan. It is [...]

The Treasury Department on Wednesday expanded its foreclosure prevention plan, lifting the current 105 percent loan-to-value cap to refinance up to 125 percent of a home’s value.

Mortgage applications bounced back last week after nearly a month in the doldrums when the number of applications fell to a seven-month low.

first-time home buyer tax credit of up to $8,000 has helped to move housing inventory during an otherwise sluggish real estate cycle. Now both legislators and the business community are hoping to build on the incentive’s success by expanding it.

The story goes like this: A friends of mine who is a mortgage lender was really upset and was having a horrible week when I called. It turns out that he got involved in a loan transaction for some questionable people (both the buyer and real estate agent). Now, what he knew and when he [...]