Rodney Mason - Conv, FHA, VA, USDA, Renovation

With FHA mortgages continuing to take more of the market share, questions often arise regarding what are the potential repairs might be required when the buyer is obtaining an FHA mortgage.  In late 2005, HUD revised their minimum property standards requirements for FHA mortgages.  Prior to this ...

Question: Can I close on my mortgage on Saturday or Sunday? Answer:  The answer to this question is no.  Mortgage closings are only held Monday through Friday.  Saturday and Sunday are not considered to be funding days for mortgage transactions.  Mortgage company and closing attorney/title compan...

The demise of the FHA 90 Day Flip Financing rule has been incorrectly reported.  Inaccurate reports continue to make their way around stating that certain deadlines have now passed for the FHA 90 Flip Financing Waiver.  I am pleased to report that they are untrue at this time.  On January 15, 200...

The FHA 203K Renovation mortgage gives the borrower the ability to select their contractor(s) for their renovation project. The contractor must be licensed and insured.  Documentation requirements are as follows:  Contractor's Profile completed with at least Three (3) References Copy of Contracto...

The FHA 203K Renovation mortgage gives the borrower the ability to select their contractor(s) for their renovation project. The contractor must be licensed and insured.  Documentation requirements are as follows:  Contractor's Profile completed with at least Three (3) References Copy of Contracto...

Beginning Wednesday, December 8, 2010, an estimated 45,000+ condo projects were set to have their FHA approvals expire.  As one can imagine, re-approving that many projects expiring at the same time would be a formidable task for lenders as well as HUD.  Earlier this week, HUD changed the expirat...

I have seen several inaccurate posts and comments lately regarding the ending of HUD's 90 Day Flip Waiver for FHA mortgages.  On January 15, 2009, HUD announced a waiver to its restriction of a borrower being able to obtain FHA financing on a property that had been acquired by the seller in the 9...

On December 8, 2010, an estimated 45,000+ condominium projects lose their FHA approved status.  The Atlanta zip code of 30309 has 9 of them.  There are 6 projects that will expire in 2011 and 15 are good until 2012. FHA Approved Condo Projects - Expiring 12/07/10 Ardmore -Sheryl Brookwood Park Co...

Freddie Mac announced today that they will be suspending evictions later this month.  The eviction suspension will be in effect from December 20, 2010 until January 3, 2011.  This will be for all single family and 2-4 units homes.  In a statement released by Freddie Mac, Anthony Renzi, Executive ...

On December 8, 2010, an estimated 45,000+ condominium projects lose their FHA approved status.  The Atlanta zip code of 30308 has 4 of them.  There are 3 projects that will expire in 2011 and 9 are good until 2012. FHA Approved Condo Projects - Expiring 12/07/10 795 Myrtle Street Condominiums Sie...