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New FHA Guidelines

January 22, 2010

FHA Announces Policy Changes to Address Risk and Strengthen Finances
New Measures Will Help FHA Better Manage Risk, While Maintaining Support for the Housing Market and Access for Underserved Communities
WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency [...]

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Understanding California Short Sale Rules

December 11, 2009

Understanding California Short Sale Rules
We are hearing more and more about the realities of short sales. Making the latest headlines are the concerns addressing the changing California short sale rules. Short sales options by California property owners represent about twenty percent of that regions housing inventory.
In general, a short sale is when a property owner [...]

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Do you trust your bank?

December 4, 2009

Do you trust your bank?
If you are attempting a loan modification you may be at a serious risk you are not aware of.  E-mail me and I will send you a copy of all documents the bank has filed against your property.  You will be surprised.
Is this you?
Have you been in a loan modification for [...]

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Steps to Avoid Foreclosure

December 1, 2009

Steps to Avoid Foreclosure
The following options may be available to borrowers who are unable to afford their mortgage payments and who wish to avoid foreclosure:
If your problem is temporary, you may want to consider the following options:

Reinstatement – Your lender may be willing to discuss accepting the total amount owed [...]

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Home Purchase Tax Credit Revisited

November 17, 2009

Home Purchase Tax Credit Revisited 
With the extension of the first time homebuyer tax credit and the addition of a tax credit for existing homeowners there have been changes that need to be noted. Please find compiled the most important facts associated with the new laws. You will find below a breakdown of both the $8,000 [...]

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Short Sale Vs. Foreclosure Information

November 16, 2009

Short Sale Vs. Foreclosure 

 
 

Review the following comparisons between short sales and foreclosures for a better understanding of why short sales are a better option for most homeowners. While a short sale is a complicated process, the outcomes of your patience and diligence are worth it in the end!
What are the implications to my credit score, [...]

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Borrower Protection Plan

November 10, 2009

Borrower Protection Plan 
The Borrower Protection Plan (BPP) is a unique mortgage feature available only at Bank of America. The BBP will cancel 6 principal and interest mortgage payments if the protected borrower suffers a qualifying Disability, Involuntary Unemployment, Hospitalization or a Loss of Life.  
There is No Cost for the first 12 months to protect one [...]

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First-time home buyer tax credit: news roundup

October 28, 2009

 
Three things about the first-time home buyer tax credit:
1. Despite the credit’s name, you don’t actually have to be a first-time buyer to get it, merely someone who hasn’t owned a home in three years. But you are supposed to — you know — actually buy a home.
The Treasury Inspector General for Tax Administration says more [...]

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Steps That Helped Avoid Foreclosure

October 15, 2009

Steps That Helped Avoid Foreclosure
Get Educated
Short selling your home is not a decision you should make lightly. It is often a difficult and a long process. If you are successful, the difference between what you sell the house for and what you owe on the house is forgiven. You’ll also avoid a foreclosure on your [...]

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Short Sale vs. Foreclosure: Which is the Better Option?

October 12, 2009

Short Sale vs. Foreclosure: Which is the Better Option?
Losing your home to foreclosure due to an inability to keep up with your monthly mortgage payments is one of life’s most unpleasant experiences. It is also an event that keeps on affecting you long after your home is history by devastating your credit score. Regrettably, most [...]

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