A version of the stimulus bill currently making its way through Congress proposes to increase the limits on FHA loans. Inman News reports: “The House version of the bill would restore the upper limits for Fannie Mae, Freddie Mac and FHA loan guarantee programs to $729,750 in high-cost housing markets, where they stood for much [...] [...more]
A growing number of real estate agents are paying special attention to seller financing. Since home sales have decreased in most urban areas, agents are desperate to find new clients. One way to score sales is to offer help to people who cannot necessarily qualify for traditional loans and need seller financing. For agents who [...] [...more]
Buying a home that’s been through foreclosure has the same requirements as purchasing any property. It is possible to take out an FHA loan to buy a foreclosure home. However, there’s one big problem: foreclosure properties are often so trashed that lenders won’t issue a mortgage for them. I once walked through a home where [...] [...more]
Sure, lenders are offering sub-5% mortgages these days. But, unfortunately, qualifying has become extremely difficult. If you don’t meet the strict requirements set by the banks, you may not be able to take out a loan at any rate. Some of the creative financing methods I’ve discussed in previous posts (FHA loans, seller financing, etc.) [...] [...more]
Hard money mortgages have been a hot topic recently. Critics claim that hard money loans are irresponsible, while proponents say these mortgages help homeowners in difficult situations. But, what exactly is a hard money mortgage? And why are so many borrowers interested lately? Basically, a hard money mortgage is a home loan funded directly by [...] [...more]
Due to the tightening credit market, many experts believe that seller financing will make a major comeback this year. Akron Ohio News reports: “Creative financing’ is one of the items that is ‘in’ for 2009, according to an annual survey conducted by Mark Nash, a Coldwell Banker broker and real estate author who uses a [...] [...more]
