Bob Buchanan's (ahswizard) Blog

To address increasing occurrences of the practice known as "buy and bail," FHA has issued Mortgagee Letter 08-25- Converting Existing Homes to Rentals- underwriting instructions.  FHA is instituting the following requirements for borrowers who purchase a new primary residence without selling thei...

To address increasing occurrences of the practice known as "buy and bail," FHA has issued Mortgagee Letter 08-25- Converting Existing Homes to Rentals- underwriting instructions.  FHA is instituting the following requirements for borrowers who purchase a new primary residence without selling thei...

Lawrence Kansas Mortgages and updates (edit/delete) 9/22/08   Volatility continues to be the name of the game.  Rates are opening up higher that Fridays close.  Inflation is pushing up commodities, and we have a slow week of information that can confirm inflation.  Wednesday existing home sales n...

9/22/08   Volatility continues to be the name of the game.  Rates are opening up higher that Fridays close.  Inflation is pushing up commodities, and we have a slow week of information that can confirm inflation.  Wednesday existing home sales number will be out followed the next day with new hom...

A week in History   There are three huge announcements that are changing the financial markets around the world.  First, fear over the safety of money in savings for many Americans. Banks are either folding or on the brink of collapse, bonds are losing some or all of their value, and stocks are d...

UPDATE: Starting today, all PMI company's have discountiued offering private mortgage for non owner occupied purchases.  This means 80% LTV max.  or at least 20% down on all investment property. About Us: With 7 years of experience working with Realtors, Investors, and most importantly BUYERS. Mo...