Greg 's Blog

You aren't given much room to decide how much to pay the trustee and many times you are just struggling to get by. Refinancing to a new home loan seems almost out of the question. How can you get a loan when you've recovering from a chapter 13 bankruptcies? There are mortgage programs available t...

The VA Loan began in 1944 through the GI Bill of Rights. You must be an honerably discharged vetran or the spouse to qualify.  FHA has no military service eligability requirement. Gurantee vs. Insure Privately funded mortgage loans VA will guarantee a maximum of 25 percent of a home loan amount u...

The housing act, won approval in Congress on Saturday and President Bush signed it today! It aims to provide relief to homeowners, incentives to buyers, guidance to lenders and oversight to vital government-sponsored entities, such as Fannie Mae and Freddie Mac. On paper, the act holds out help f...

These are hot topics in today's market but there are some key differences that buyers may wish to consider before deciding where to make their offer. Decision makers: Short sales buyers work with both the homeowner(s) & bank. While the bank has the final say on price, homeowners are still in char...

Step #1 - Make certain the lender will consider accepting a short sale offer.  It's a good idea for a seller to communicate their desire to take this approach early in the process.  Lenders do not have to approve short sales.  They can choose to start foreclosure proceedings if mortgage payments ...

Could it be that the assumptions made about supprime lenders taking advantage of minorities are untrue?  According to a new study by Compliance Tech, over 70% of the subprime loans originated in 2006 went to non-hispanics and nearly 40% went to upper income borrowers. The study also found that th...

Borrowers who already own a home typically have three options when they decide to purchase a new primary residence. They can:. sell the current residence and pay off the outstanding mortgage,. convert it to a second home, assuming they qualify with both mortgage payments, . convert it to a rental...

Average costs of buying & owning a home may include the following Closing costs: $ attorney fee (w/purchase loans) $ city tax transfer stamps (purchase loans) $ appraisal fee (paid to appraiser directly)$ settlement fee (for the closing company) $ real estate tax escrow (may be optional) (varies ...

If the condo you wish to purchase with an FHA loan isn't already on their approved list spot approval may be your solution.  Here are the requirments.  1.   The condominium project must be complete.  There should      be no ongoing or anticipated addition of any units, common      elements, and/o...

Once again the threat is looming that non-profit organization will no longer be allowed to make the 3% contribution required for buyes to become eligable for 97% FHA insured purchase money loans. Attached please find some data (p.41-45) that appears to support their position that individuals who ...