Looking back two years, I had a post inspired by Ken Cook regarding FHA 203k mortgages. If you aren’t familiar with the FHA 203k, it is a loan product that allows the borrower to make improvements or renovations on the property as part of the original mortgage.
Tag Archives: financing
FHA Approvals are about to get HARDER…
- Tuesday, 08 December 2009 23:41
- Written by Lane Bailey
- 0 Comments
That’s what we need, right?
My buddy Ken Cook wrote about the new guidelines for FHA mortgage loans.
Short Sales, Bank-Owned and Credit Pulls
- Thursday, 19 November 2009 18:48
- Written by Lane Bailey
- 3 Comments
A few days ago I wrote about how the purchase offering process is having issues… issues that are especially apparent on Bank-Owned Properties (we call them REOs).
Banks are often requiring that ALL offers be accompanied by pre-qualification letters from specific approved lenders (perhaps even from their own loan department). In other cases, the brokers representing the properties are interjecting this “requirement” on their own.
This morning, local (and nationally syndicated) radio talk show host, Clark Howard mentioned
The New Tax Credits are Here…
- Tuesday, 10 November 2009 00:59
- Written by Lane Bailey
- 0 Comments
The first thing that came to my mind was Steve Martin in The Jerk.
The new phone books are here!
The new phone books are here!
One step away from Tax Credit Extension…
- Thursday, 05 November 2009 18:06
- Written by Lane Bailey
- 2 Comments
Today the House passed the Unemployment Extension Bill by a vote of 403-12. Yesterday the Senate Bill passed 98-0. I think it is a slam dunk that the President will sign this legislation in the near future.
The new version of the Homebuyer’s Tax Credit still has the $8000 for First Time Homebuyers, as the version expiring November 30th had. It also allows $6500 for “move-up” buyers, provided they have been in their home more than 5 years. There is an income cap of $125,000 for individuals and $225,000 for couples. Also, there is a price cap of $800,000 for the purchased home.