Soar With An Eagle
The Eagle. It represents freedom, strength and longevity. It is found on over eight countries' coats of arms, used as the national bird for four nations and held in comparison to the bible and crucifix of Christianity by many Native America tribes. The word eagle gives us all a sense of pride and comfort. When shopping for your home - the largest investment in your family's future - wouldn't you want to make sure you are working with someone that has all of these qualities to insure your best interests are protected? There are three classes of approval that the United ...
FHA 90 Day Flip Rule Waived
HUD just gave a nice boost for California FHA insured mortgages. The 90 Day Flip Rule that hindered FHA buyers and certain home sellers from going into contract together has been temporarily waived for 1 year. Starting February 1, 2010, a home purchased by a LLC, Trust or by owner within the last 90 days will be available to purchase for a FHA buyer. Until recently, FHA buyers had limited purchase power – now there are no limitations as to what property a buyer can go after. Even better news - a seller doesn’t have to bypass that strong FHA buyer ...
Buy Now or Forever Hold Your Peace
For those that have not taken advantage of the first time home buyer credit: Buy now or forever hold your peace!! If you are in the market for a new home, you are still able to claim the First Time Homebuyer Credit. Not only did Congress extend the expiration date to April 30th, they also expanded who qualifies. Here are the 10 things the IRS wants you to know about the expanded credit and the qualifications you must meet in order to qualify for it: You must buy – or enter into a binding contract to buy ...
401K, Gift Funds and Cashier’s Checks….OH MY!
Unfortunately, the inability to source funds to close has been the death of many escrows. Note: these are not my clients as MY clients are well educated in this matter and are GREAT listeners. In this day and age sourced and seasoned funds are a MUST. The days of storing cash under your mattress or in grandma’s brassiere are sadly over. All funds must be sourced. This means the bank must SEE where the funds came from. For example if it came from a personal bank account we must have copies of the bank account ...
FHA Tightens Up
The cost of an FHA guaranteed mortgage will be a bit more expensive for US home buyers in 2010. The Federal Housing Administration raises insurance rates and tightens credit score rules to battle a rise in delinquencies. FHA currently faces a 14% delinquency rate. Defaults pushed mortgage insurance reserves to the lowest level in history last fiscal year, prompting the Obama administration to take bolder steps in shoring up the FHA’s finances. HUD announced Thursday that the upfront mortgage insurance premium would be raised to 2.25% as of April 5, 2010. The premiums FHA currently charges ...
Featured
Soar With An Eagle
The Eagle. It represents freedom, strength and longevity. It is found on over eight countries’ coats of arms, used as the national bird for four nations and held in comparison to the bible and crucifix of Christianity by many Native America tribes. The word eagle gives us all a sense of pride and comfort. When shopping for your home – the largest investment in your family’s... [Read more]
FHA 90 Day Flip Rule Waived
HUD just gave a nice boost for California FHA insured mortgages. The 90 Day Flip Rule that hindered FHA buyers and certain home sellers from going into contract together has been temporarily waived for 1 year. Starting February 1, 2010, a home purchased by a LLC, Trust or by owner within the last 90 days will be available to purchase for a FHA buyer. Until recently, FHA buyers had limited purchase... [Read more]
Buy Now or Forever Hold Your Peace
For those that have not taken advantage of the first time home buyer credit: Buy now or forever hold your peace!! If you are in the market for a new home, you are still able to claim the First Time Homebuyer Credit. Not only did Congress extend the expiration date to April 30th, they also expanded who qualifies. Here are the 10 things the IRS wants you to know about the expanded credit and the... [Read more]
401K, Gift Funds and Cashier’s Checks….OH MY!
Unfortunately, the inability to source funds to close has been the death of many escrows. Note: these are not my clients as MY clients are well educated in this matter and are GREAT listeners. In this day and age sourced and seasoned funds are a MUST. The days of storing cash under your mattress or in grandma’s brassiere are sadly over. All funds must be sourced. This means the bank must SEE... [Read more]
FHA Tightens Up
The cost of an FHA guaranteed mortgage will be a bit more expensive for US home buyers in 2010. The Federal Housing Administration raises insurance rates and tightens credit score rules to battle a rise in delinquencies. FHA currently faces a 14% delinquency rate. Defaults pushed mortgage insurance reserves to the lowest level in history last fiscal year, prompting the Obama administration to... [Read more]
