FHA Mortgage Changes are Coming

Monday, November 19th, 2012

Due to losses at FHA there are some changes coming for FHA loans.  They are: Increasing the annual insurance premium paid by borrowers on new FHA loans in 2013. This should add $13 per month to the average borrower’s bill Continuing to sell expanded pools of defaulted mortgages that are headed for foreclosure Revising its […]

Fannie Mae and Freddie Mac set new timelines for short sale responses

Friday, April 20th, 2012

Good news if you’re thinking of selling or buying a home that’s a short sale.  Beginning in June banks will be expected to make decisions on short sale offers with 30 to 60 days.  Both entities issued new guidelines last Tuesday to make the short sale process quicker and easier for all parties.  Delayed responses […]

Trying to get a Loan Modification ?

Tuesday, June 28th, 2011

This article from MSNBC really illustrates well the difficulties dealing with banks on loan modifications.  I’ve helped clients with short sales and this story sounds all too familiar.  Banks asking for documents, then asking for the same documents, then dragging their feet for so long that you now have to send them updated documents because […]