Tuesday, April 29, 2008

FHASecure Developments with Florida Loss Mitigation

There are many new developments with FHASecure and loss mitigation in florida. These are essentially housing market solutions for those in florida who have adjustable rate mortgage loans and need to refinance to lower rates and lower payments.

The FHA Secure in Florida can assist those who wish to lower a mortgage payment. This can even be accomplished when the loan is upside down and the homeowner wishes to refinances the mortgage with an aFHA mortgage loan of an upside down property. This is definitely something florida homewowners should look into.

Your florida loss mitigation efforts may realize that the fha loan must be subordinated to allow the refinance to the fha secure or an fha 203b.

Saturday, April 26, 2008

Fun WIth Florida Short Sales

Buyers buy short sales in florida. Sellers sell short sales in florida with a full release of liability. No problem for the florida credit report when the florida short sale is correctd with the credit reporting and credit score changes. Learn the florida mortgage escape through the short sale.

This is more on the fha partial claim program in florida for fha loans. You are not necessarrilly in bankruptcy when your attorney provides the florida loan modification cosent form. The modification is a prelude to the florida short sales as far as some lenders are concerned. Litton Loan Services has already reduced the principal amount of the loan for these borrowers and you may not be the florida mortgage short sale that was expected. This is a major problem with florida loss mitigation. COuntrywide has a short sale program if you talk to the loss mitigation department. None of this is to be confused with fixing bad credit to buy a florida short sale. None of this will help your short sale.

Locate Florida Short Sales.

Wednesday, April 23, 2008

Changes in FHA Gift Guidelines?

The changes in fha gift guidelnies happened quite some time ago. The donor needs to show proof of the ability to provide the mortgage borrower the fha gift. This is in part true and can be done in many ways. Let's look at florida fha gift and the florida government grant program for fha. When you are gifting to a relative or close friends with a clearly defined interest then you have a relationship of the parties that matches fha guidleines for gifts.

That leaves the fha grant program in florida as a strange bird so to speak. Take the fha grant program that is available for fha and then add the grant program that may be available for government grants in florida. The end result?

FHA GIFT in Florida Mortgage

Sunday, April 20, 2008

FHA Partial Claim

There are some interesting facts regarding HUD's partial claim program. This will enable a homeowner with an FHA loan to get currect through a payment by the Department of Housing and Urband Development called a 'partial claim'.

Under the Partial Claim option, a mortgagee will advance funds on behalf of a mortgagor in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI). The mortgagor will execute a promissory note and subordinate mortgage payable to HUD. Currently, these promissory or "Partial Claim" notes assess no interest and are not due and payable until the mortgagor either pays off the first mortgage or no longer owns the property.

Let's take a look as some questions and answers regarding HUD's partial claim.

Question 1: A Loan Modification was completed; the mortgagor then defaults again and has different circumstances; it's been less than 12 months since the Loan Modification was completed; can the mortgagee consider a Partial Claim?

Answer to FHA partial claim question one can be found at HUD partial claim info.


Thursday, April 17, 2008

Someone Said FHASecure or FHA SECURE

What is the difference if I call it FHASecure or if I call it "FHA SECURE". I mean does it really matter? You know I am talking about fhasecure if a say f-h-a-s-e-c-u-r-e don't you?

Let me put it this way. I will list my favorite ways to say fha secure.


FHASECURE payoff subprime stinkaroo loan

FHASecure saves foreclosure

FHA Secure is more secure than you think

FHA Secure gives another chance to keep your home

and my favorite is simple: FHASecure Mortgage Refinance

Tuesday, April 15, 2008

CLTV for second mortgages going FHA

Does anyone know the CLTV or LTV restriction for second mortgages going FHA? I'll post this and see if anyone can get me the FHA and the FHA subordination agreement to go above 100% LTV. The FHA CLTV is difficult for me to understand when the LTV is already at the maximum loan-to-value for federal housing administration mortgage loans.

FHA has a CLTV limit for second mortgages. You may havee a higher than 100% LTV if you have the right FHA subordination agreement prepared. I am not sure is this makes sense and I will check back to see if FHA CLTV is answered here on thsi blog. Thanks!

Monday, April 14, 2008

Mortgage Loan Officer Marketing Ideas

I was searching around th real estate online for loan officer marketing and I found that many people are marketing for loan officer stuff. That made me thing that there are not a lot of quality posts about loan officer (or mortgage loan officer) marketing online.

Here is a post about mortgage loan officer marketing. Market a sa loan officer first and foremost and then the loans and the marketing go hand in hand so to speak. I will type some more about loan officer marketing and hope that you read the workds loan officer marketing and then get some marketing ideas for you or your cousin as a loan officer.

Everyone is a loan officer these days and everyone want to market. Only on post about the two loan officer and marketing going together for a mortgage loan marketeer so to speak.

Monday, April 7, 2008

Flip This FHA

Property was a foreclosure and then the bank took the property back. Can this go FHA now or is it a problem for the FHA anti-flip rules?

Let's look at the requirements for FHA and property flipping. It must be within ninety-days and then it is a big no0no. If after 90 days then maybe it is ok. What is the property is bank owned REO and then is thebank trying to flip the property or is that not considered an FHA Flip.

FHA Flipping Rules

Saturday, April 5, 2008

Bankruptcy FHA mortgage lending loans

There are many loans that are bankrutcy buyouts yet none other than the fha mortgage refinance called the fha loan. This can save a hoemowner from foreclosure. You can look into various fha mortgage lending guidelines and fha compensating factors for debt to income ratio may apply. You are not instructed to refinance prior to the fha bankruptcy mortgage is complete.

More info on the fha mortgage after a bankruptcy will be posted as time progresses. This bankruptcy mortgage fha loan is breaking news.

Mortgage FHA with a bankruptcy coming to your town soon! Don't get turned down for an fha loan and study your fha guidelines before the fha bankruptcy hits your neck of the woods. That's my fha bankruptcy advice and you can take that and fifty cents and ride the bus.

The last guy that rode the bus with my fha bankruptcy advice ended up sitting next to the HUD secretary Alphonso Jackson who resigned from HUD recently. The two events were mutually exclusive and had nothing to do with his fha bankruptcy mortgage or resignation. That's not to say that Alphonso won't file for bankruptcy and get an fha loan later. I won't make a comment about ALhpnso's fha bankruptcy becuase this post is getting absurd already. We'll stick to fha bankruptcy and their rules on fha refinancing.

Do NOT exceed the CLTV limit for an FHA refinance!

Friday, April 4, 2008

Real Estate Foreclosures in Florida

There are tons of real estate foreclosures in florida. You can walk down any block and buy a preforeclosure short sale. The problem is the florida FHA 203k can not be used without sufficient debt to income ration guidelines. Most lenders do not know how to calculate debt to income ratios.

When the fha loan is defaulted, you will not want to be there for the eviction and sherriffs sale. You may decide that the foreclosure and eviction are not friendly if the sheriff brings a convict to evict the tenant. This is 30 to 45 days after summary judgment of foreclosure.

Foreclosure in Floirda and preforeclosures for sale in Florida.

FHA lenders in Florida.