Financing and Mortgage News

New FHA Guidlines Waives 90 Day Rule for FLIPPING Homes-Tampa, Fl

HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS Measure to help bring stability to home values and accelerate sale of vacant properties This is GREAT news for the Tampa Real Estate Market as it will allow more homes to be sold in a shorter period of time.   Reducing the amount of … Continue reading New FHA Guidlines Waives 90 Day Rule for FLIPPING Homes-Tampa, Fl

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Buyers being unfairly scrutinized by lenders-Tampa, FL

Ever hear of a “Motivation Letter?”  You may if you are trying to purchase a home in today’s real estate market. Buyers in the Tampa Real Estate market are being put under the microscope by lenders.  This is what one of my clients had to supply to get a loan approved days prior to closing.  Shocking to say … Continue reading Buyers being unfairly scrutinized by lenders-Tampa, FL

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HomePath Loans and First Look Program for Fannie Mae Foreclosed homes-Tampa, Fl

How the Homepath program works:  Fannie Mae’s new HomePath REO Mortgage Loan Update! Don’t wait Buyer Incentives now available through the deadline  October 31, 2011 Fannie Mae, the agency sponsored by the U.S. government to help make housing more affordable to all Americans, now offers HomePath, a special new home loan to finance the sale of its … Continue reading HomePath Loans and First Look Program for Fannie Mae Foreclosed homes-Tampa, Fl

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Fannie Mae is rolling out new lending guidelines

Fannie Mae is rolling out new lending guidelines Tuesday, September 1, 2009.  Being approved for a home loan could be much more difficult. The new rules mark the first major underwriting update since April of this year.  The changes are mostly geared at fraud prevention. Among the updates: Stock options are no longer eligible for “reserves” Relocating families … Continue reading Fannie Mae is rolling out new lending guidelines

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MAJOR changes to FHA finacing Condo approvals-Tampa,Fl

I just received this and thought I’d share it with you regarding financing FHA approved condos in the Tampa Bay area.  Major changes to Condo Approvals    As of October 1, 2009  ALL FHA condo approvals will be GONE.  We will be starting from scratch with NO approved projects untill Lenders start submitting approval packages to … Continue reading MAJOR changes to FHA finacing Condo approvals-Tampa,Fl

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What are the benefits of 203K financing?

With the amount of short sale and foreclosures on the market in the Tampa Bay area, the 203K loan program may be a great opportunity to purchase a distressed property and renovate it the way you want to.  Most of these properties have been abandoned and need work. If you have the vision, and can put a … Continue reading What are the benefits of 203K financing?

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Lenders face new laws that will impact your closing date

New lender regulations will make it harder to close on your new house which may cause delays and headaches for buyers and sellers. Here’s a great article that explains the details of the new program. From Channelside It’s no secret that many facets of lending and real estate have changed as a result of the credit … Continue reading Lenders face new laws that will impact your closing date

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What you need to know about NON Warrantable Condos, Fl

This is a guest blog post from Tony Marks concerning Non-Warrantable Condos here in the Tampa Bay area.  Buyers in our local Real Estate Market are seeing a large number of condos that cannot obtain financing and here’s why. “I took time to check with my lenders, and none of them at the moment offer mortgages for Non-Warrantable Condos … Continue reading What you need to know about NON Warrantable Condos, Fl

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Tampa Housing Market Update-Tampa Real Estate Market

I attended the National Association of Realtors conference a couple weeks ago here in Tampa, Fl. Lawrence Yun, the Chief Economic Advisor to the National Association of Realtors was the guest speaker.  He had much more to say about the Tampa Real Estate market, however, I’ve been so busy showing properties I haven’t had time … Continue reading Tampa Housing Market Update-Tampa Real Estate Market

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Home Buyer Tax Credit Down Payment Update

Friday the St. Petersburg Times stated that Governor Christ signed a bill to allow for the First Time Homebuyer Credit to be used as down payment and I am getting numerous emails regarding the details so I wanted to take a moment and update everyone.  FHA announced today that it will allow the First Time … Continue reading Home Buyer Tax Credit Down Payment Update

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$8,000 tax credit for first time home buyers can now be used as a downpayment!

Tony Marks with Marks and Marks Mortgage just informed me of a great benefit for those looking to purchase a home this year! "We all want to enable FHA consumers to access the tax credit funds when they close on their home loans so that the cash can be used as a down payment." United … Continue reading $8,000 tax credit for first time home buyers can now be used as a downpayment!

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