Government Offering Interest-Free Loans to Save Your Home…Sorry, Texas you’re not approved.

The Obama Administration has announced their newest plan to slow the pace of foreclosures and help borrowers who can no longer afford their homes. The plan calls for $2 billion to be directed to the Administration’s list of the “hardest hit areas”; while HUD is going to chip in another $1 billion to “other areas”. [...]

FHA pumps up the commission for brokers

The US Department of Housing and Urban Development (HUD) removed the 1% origination fee cap on loans insured by the Federal Housing Agency (FHA), according a mortgagee letter sent out this week. HUD made the change to remain consistent with the Real Estate Settlement Procedures Act (RESPA), which will require mortgage lenders to disclose to borrowers [...]

FHA loans are available to Short Sellers!

One of the fears that homeowner have is whether they will be able to secure a new loan to purchase a home in the future after short selling the current one.  The answer is yes.  In fact, the Department of Housing and Urban Development (HUD) released a letter to lenders regarding borrower eligibility for a [...]