Hans Iduma's (hansolo75) Blog

By
Mortgage and Lending
RECENT BLOG POSTS
We all know that home values have continued to decline as a result of unprecedented foreclosure and short sale activities through out the country. These actions have also resulted in huge housing inventory. It is a fact that lower interest rates would substantially increase consumers' buying powe...
12/07/2008
I recently posted a blog where I encouraged homeowners who owe more on their home than the home is worth to take a new hard look at the newly revised Hope for Homeowners program before considering a short sale or foreclosure. I have received several emails from homeowners who allege that lenders ...
12/07/2008
HUD recently released a new page on the HUD-1 Settlement Statement  http://www.hud.gov/offices/hsg/sfh/res/hud1.pdf that will allow consumers to easily compare their final loan terms and closing costs with those listed on their Good Faith Estimate. To facilitate comparison between the HUD-1 and t...
12/03/2008
The first time homebuyer tax credit provides for the reduction of the income tax liability of the homebuyer on a dollar for dollar basis. The homebuyer must itemize all deductions, including income and exemptions for the tax year, among other things, to determine their tax liability. If you quali...
11/30/2008
I recently interviewed a few agents in an attempt to build a buyers' agent team to work with our REO listing agents to hold bank-owned open house on their many listings. During the interview, I asked one agent, "What do you like most about being an agent?". She told me what she liked most was han...
11/30/2008
I believe the seasoning requirements for borrowers after short sale is 2 years and I also believe the lenders are required to report the transaction on the credit report of the borrower as short sale. Assuming the borrowers had no mortgage lates prior to the short sale, I wonder if the borrowers ...
11/29/2008
Foreclosure and Short-Sale were the two leading options for homeowners who owe more on their mortgage than the value of their homes. That should not be the case anymore as the government has recently revamped the alternative, Hope for Homeowners, to make it a viable option for homeowners who owe ...
11/29/2008
Two government programs intended to help hundreds of thousands of homeowners avoid foreclosure have been determined to be ineffective. According to the HUD secretary, "many Americans who should be getting help are not getting help". He acknowledged that the FHASecure program announced in August 2...
11/29/2008
I am looking for an investor that will accept a borrower with excellent credit, income and strong reserves that currently has 8 financed investment properties. My client wants to refinance 3 of her investment properties. Fannie Mae is currently allowing maximum 4 financed investment properties.  ...
11/28/2008
A bill that is primarily aimed at helping struggling homeowners with all sorts of incentives and financing options is closer to becoming law. The bill will seek to insure up to $300 billion in new loans for struggling homeowners as well as rescue the two mortgage power houses, Freddie Mac and Fan...
07/24/2008
Rainer
19,741

Hans Iduma

Certified Mortgage Planning Specialist
Ask me a question
*
*
*
*
Spam prevention