FHFA SAYS NO TO PRINCIPAL REDUCTIONS

EVER WONDERED HOW LONG YOU MUST WAIT TO OBTAIN A NEW MORTGAGE?

If you’ve filed bankruptcy, gone through a short sale or had a home foreclosed, the following timelines broken down by loan program will give you a snap shot of how long it may take before you are eligible to obtain a mortgage. CONVENTIONAL … Continue reading

HARP – HOME AFFORDABLE REFINANCE PROGRAM

If you are not behind on your mortgage payments but have been unable to obtain traditional refinancing due to the decrease in your home’s value, you may be eligible to refinance through the Making Home Affordable Refinance Program. HARP was … Continue reading

CONVENTIONAL LOAN PRICING TO INCREASE

Fannie Mae and Freddie Mac have announced that they will be worsening their base pricing by approximately .50 effective  4/1/12.  This means that many Lenders will begin increasing their fees immediately as any loan delivered to an Investor 4/1/12 or … Continue reading

IT’S NOT JUST THE PRODUCT GUIDELINES…..IT’S THE INVESTOR OVERLAYS TOO!

Ever wonder why you get different product “guidelines” from different Lenders?  We all have the same basic product guidelines for FHA, VA, USDA and Conventional loan programs, however, depending on who our end Investor is that we sell the servicing … Continue reading