Obama is pumping money into states hit the hardest by the mortgage crisis. The Los Angeles Times reports: “Under the new policy, $1.5 billion that had been reserved for the bank bailout will be rerouted to five states that have seen housing prices drop more than 20% since 2006: Nevada, California, Michigan, Florida and Arizona. The money [...] [...more]
If you have a low income and are willing to move to a rural area, you may be able to get a rather amazing deal on a loan. The federal government offers a program called Rural Housing Direct Loans, giving borrowers the opportunity to receive up to 100% financing with mortgage payments determined by their [...] [...more]
Yesterday I posted about buying a home on a credit card. (As a refresher: no, this is not something I suggest that everyone run out and do). The example I used was condos in Vegas, which are selling for extremely low prices in the current market. Today, I want to discuss another area where this is [...] [...more]
If you are self-employed or cannot easily prove your income through traditional means, you may be able to take out a Wells Fargo Alternative Documentation Loan. Instead of submitting past tax returns or paystubs, you can demonstrate income through the past 6-12 months of bank statements. Wells Fargo Alternative Documentation Qualifications Borrowers must meet traditional lending [...] [...more]
The Countrywide Fast and Easy Loan helps extremely qualified borrowers with excellent credit skip some of the traditional paperwork and verifications required for loans. Borrowers can purchase a primary residence with as little as 5% down or a secondary / investment residence for as little as 10% down. Countrywide Fast and Easy Loan Qualifications Fast and Easy [...] [...more]
The Countrywide House America Loan can be used to help borrowers in non-traditional financial situation such as: not having an established credit history, having an irregular source of income, or lacking the cash for a down payment. Countrywide House America Loan Qualifications Countrywide House America customers must be able to meet traditional loan qualification standards with these [...] [...more]
