fha loan bad credit: : The Vegas Decade (blog)

The Vegas Decade

As I research the history of the mortgage meltdown, it's funny how often Las Vegas takes center stage ... -down option to borrowers with blemished credit. The FHA isn't a direct lender, but guarantees loan ... with bad credit to put money down on a house is UnAmerican and probably racist, at a homebuilder's [more...]

Date: 2008-11-21 10:32:00

Blog posts (364) | Videos (66)

FHA Loans- Affordability Solutions for First Time Homebuyers

Author: Jared Martin “FHA” and “First Time Homebuyers” are real buzzwords as far as home buying is concerned, ... . The intent of this article is to quantify the features of this loan, both good and bad, and discuss ... Housing Authority. Recent events in the credit markets have made the FHA loan a true affordability [more...]

Date: 2009-01-02 03:10:31

FHA Mortgage Lenders

Applying for a home loan for first time mortgage borrowers can be a daunting and treacherous task ... from a lender to a FHA. If we have bad credit, no credit, or simply not sufficient income to put ... . An alphabet soup family of difference is used: FHA, HUD, VA, and some-more can report a loan [more...]

Date: 2009-01-14 13:31:28

FHA Guidelines On Bankruptcy

One of the most touching experiences loan officers go through when we conduct marketing campaigns seeking FHA mortgage prospects are the borrowers who call us wanting to buy a home for their family but they just have too much bad credit to overcome in order to qualify for even an FHA loan. Often they have a bankruptcy. First, here are FHA’ [more...]

Date: 2008-06-14 00:26:57

GA Bad Credit Refinance With FHA

by Brenda Puckett You cannot turn on the news without seeing a new headline trumpeting the meltdown of the mortgage industry ... counties and $271,050 in rural Georgia counties. You may still be able to qualify for an FHA loan. FHA ... had starting rates in the low 5 percent range jumping up 8, 8.5 or 9! Subprime loan rates can be moving even [more...]

Date: 2008-07-20 09:31:03

Just Tricks…No Treats for Friday’s Rates

Mortgage rates continue to trend upwards like mummies crawling out of their graves. (Sorry…bad reach. Booooo). October has been terrible for rates! ... FHA. Pricing based on credit score of 620 or better and loan amounts up to $362,790 for FHA in King ... all ready be factoring bad news into their brew. Conforming Mortgage Rates (loan amounts up to [more...]

Date: 2008-10-31 19:48:17

FHA Loans -- Non-Occupant Co-Borrowers -- Now on refinances also....

http://www.fhaloansfhamortgages.com FHA loans ... purpose is to help you qualify you with your income. Many think that if you have bad credit ... is not allowed. You still need to qualify on your own credit worthiness. FHA Credit -- Understanding [more...]

Date: 2008-10-17 14:08:25

FHA Mortgage Insurance Updates… Will this Increase Your Monthly Payment?

... from the current 1.5% of the loan amount to 2.25% for “high risk” or bad credit borrowers. Yearly Mortgage ... not seem like much but the closing costs were already higher than average with an FHA loan [more...]

Date: 2008-07-14 23:55:49

Looking At Your Own Bank for Loans

The idea of shopping around for a loan can sometimes be over rated ... Reasons Why Bad Credit Equals High Interest August 14, 2008 — Don't Let Terms Get You Down July 29, 2008 — Student Loan Defaults Cured - Or is it? September 4, 2008 — Is Your Best Bet An FHA Loan? July [more...]

Date: 2008-08-21 07:05:00

There’s more to the mortgage relief bill than just mortgage relief

This is my column for this week from the Arizona Republic (permanent link) ... 1st, seller-paid down-payment assistance grants will be outlawed for FHA loans. This is bad news ... down-payment assistance, introducing the new-buyer tax-credit and revising the capital gains exclusion [more...]

Date: 2008-08-09 15:10:25

Friday morning links

TOP STORIES FHA's Cash Reserves Will Drop Below Requirement - Wash. Post U.S. Proposes Ban on ‘Flash’ Trading on Wall Street - NY Times House to vote on extending unemployment benefits - CNN/Money Fed: Household Net Worth Off $12.2 Trillion From Peak - Calculated Risk CNBC Viewership Down 37% In Overall Viewers Category - Zero Hedge Barack Obama and free trade: Economic vandalism - Economist Interview: Five Questions for William K. [more...]

Date: 2009-09-18 12:50:00

Tips Protect Your Home From Foreclosure By Mortgage Modification

Its really unfortunate the way the national press has so negatively portrayed the Loan Modification process due to the actions of some very depraved and unscrupulous individuals.Loan Mods are still one of the good options for averting foreclosures, the only difference as opposed to when they were first gaining recognition is that now the public must go to further lengths to educate themselves on the Loan Modification and Foreclosure process in order to select the right representation. [more...]

Date: 2009-09-12 12:20:44

First Time Home Buyers Should Know These Facts

by Oscar Acosta Are you buying a home for the first time? Unsure of the overall process? It is important to understand many aspects of the process. The terms alone can be a foreign language. There are basically five areas that need to be looked at. To avoid making bad judgments and losing money, get to know the process. Today home loan programs are more responsible with FHA being the most popular with a minimal 3.5% down. A family member can gift you the required down payment. [more...]

Date: 2009-09-24 18:30:00

What Every First Time Home Buyer Must Know

Date: 2009-09-21 09:34:40

Borrowers here pay their U.S. insured mortgages

The government’s mortgage insurance program is doing better in Orange County than nationwide, at least as far as defaults go. The Federal Housing Administration has been insuring about 25% of home purchase loans in the county over the past few months, as the chart shows (click to enlarge). Of all FHA loans made in the county from August 1, 2007 (start of credit meltdown) to July 31, 2009, roughly 1.3% have fallen into default.That’s much better than the national rate for the same period, 5.6%. [more...]

Date: 2009-09-12 09:00:41

More Rough Times Ahead for U.S. Economy, despite Recent Improvements

RISMEDIA, September 29, 2009—Despite recent signs of improvement, more rough times are ahead for the U.S. economy, according to several prominent experts in real estate and the economy who attended a recent forum at the Nixon Presidential Library. “You look at the numbers and everything points to the fact that we not only have bottomed, but things seem to be improving,” said Christopher Thornberg of Beacon Economics, citing increases in durable goods orders, exports and auto sales. [more...]

Date: 2009-09-28 21:07:59

How Do You Get a Mortgage?

by Dimitri Lawsen Are you seeking to buy your first home because the journey to purchase your first home can be quite daunting and overwhelming? Are you considering a fixed year mortgage, an ARM (Adjustable Rate Mortgage) or a Interest-only payment? Do you have good credit or bad credit? All of these questions will arise in the process of obtaining the mortgage that you want because considering the incredible variety of mortgage loan options that are available on the market today factor in. [more...]

Date: 2009-09-12 20:01:19

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Date: 2009-09-12 11:08:52

Looking for a Mortgage? How Can You Get One?

Are you seeking to buy your first home because the journey to purchase your first home can be quite daunting and overwhelming? Are you considering a fixed year mortgage, an ARM (Adjustable Rate Mortgage) or a Interest-only payment? Do you have good credit or bad credit? All of these questions will arise in the process of obtaining the mortgage that you want because considering the incredible variety of mortgage loan options that are available on the market today factor in. [more...]

Date: 2009-09-12 04:06:20

Qualifying for a Mortgage

With the $8,000 first-time homeowner’s tax credit deadline approaching, many people are still trying to get in on the deal. If you’re in this boat, don’t assume that just having a down payment is enough (even though it’s a big help). Applying for a mortgage involves a thorough check into your finances to see if you really qualify for a mortgage loan. This process takes time, and waiting to the last minute could cost you the tax credit. [more...]

Date: 2009-09-22 10:00:54

Lenders hold the keys to housing recovery

Christian L. Redfearn is an associate professor of policy, planning and development at USC and a faculty member at the Lusk Center for Real Estate. He is currently involved in both domestic and international research projects, including Swedish housing markets, residential real estate markets in Singapore, and Los Angeles Basin Real Estate Submarket Dynamics. Insider Q&A spoke with Prof. Redfearn recently about which economic factors are keeping the market bottom at bay. [more...]

Date: 2009-09-26 09:00:20

The Final Demise Of A Speculative Housing Bubble

The speculative mania in housing has been extended by massive Federal Reserve and government intervention; the government now owns or guarantees 2/3 of U.S. mortgages. While speculative bubbles may pop in terms of sales and valuations, the psychology that underpinned the mania lives on for some time--especially if government extends the speculation with massive interventions. I sincerely doubt the average American understands the full measure of Federal intervention to prop up the U.S. [more...]

Date: 2009-09-16 18:35:00

But I Thought It Was Just A “Panic”?

But I Thought It Was Just A "Panic"? Courtesy of Karl Denninger at The Market Ticker Or so we were told… Remember, the values at which subprime mortgage bonds were trading at reflected "irrational fear" and "unreasonable expectations of default." Really? * As of last week, the ABX index of sub-prime mortgage debt showed that AAA-rated securities from early 2007 were trading at 28 cents on the dollar – AA was at 4 cents, near all-time lows. [more...]

Date: 2009-09-14 02:05:36

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Date: 2009-09-12 11:08:52

Federal College Loan Payday Loans – 6 Month Payday Loans College Financing Small Pay Day Loans

Date: 2009-09-16 08:09:02

What You Should Know About Bidding On Foreclosures

The recent economic crisis has caused a record number of foreclosures. Houses are up for auction all over the United States. At foreclosure auctions, houses may sell at a fraction of their market value. Bidding at a foreclosure auction may not be the answer for everyone looking for a home. Many auctions require a large cash payment at the time of purchase. You generally can’t get a mortgage prior to an auction because your bid might not win. [more...]

Date: 2009-09-16 19:14:31

Obtaining Bad Credit Home Loans

Obtaining Bad Credit Home Loans by Tony KidFinding bad credit home loans isn’t as hard as it once was. With a new administration in place, there are even more possibilities than before. They can get you approved, and make it affordable unlike in times past where only the people with good credit could get approved. Owning your own home is one of the biggest parts of the American dream.For many years, citizens of the U. S. have been chasing the American Dream. [more...]

Date: 2009-09-26 13:12:48

The FHA and Impact on Real Estate Values

Today the FHA, the Federal Housing Administration, is a gigantic player in the residential mortgage business. The FHA guarantees mortgages against default, and allows purchases of homes with only a 3.5% down payment, and provides a rock bottom interest rate of near 5%. These lenient terms apply to virtually everyone, even those with poor credit scores and little equity in the home, which are highly correlated with default. [more...]

Date: 2009-09-19 16:13:23

"The Recession's Racial Divide"

From the New York Times , a new entry in the sweepstakes to put a politically correct spin on the emerging facts about the mortgage meltdown The Recession's Racial Divide By BARBARA EHRENREICH and DEDRICK MUHAMMAD ... Despite the sense of white grievance, though, blacks are the ones who are taking the brunt of the recession, with disproportionately high levels of foreclosures and unemployment. And they weren’t doing so well to begin with. [more...]

Date: 2009-09-14 19:39:00

A New Home And Your Responsibilities

One problem plaguing excited first time home buyers is the deposit for the house of their dreams. If you are one of them, this problem can be resolved with a little help from family or friends or the First Time Homebuyer Credit. But all these are just the beginning of your new life as a homeowner and your responsibilities is just starting. If you have never owned a home before, you may be eligible for first time buyer programs with government insured loans. [more...]

Date: 2009-09-15 20:25:37

Is This A Model That Works Any More?

Some housing bubble news from Wall Street and Washington. Bloomberg. “Confidence among U.S. homebuilders dropped to a record low in July ... who were in a position to influence policy, profits, or public opinion.” “A loan officer…who served ... out for special treatment. After he filled out the applications, they were processed by a V.I.P.-loan [more...]

Date: 2008-07-16 19:03:10

HUD Chief Admits Hope For Homeowners Is A Failure

599739 Consumers, please listen closely. If you are still holding out hope that a new FHA program is going to save you from foreclosure, then RUN. Do not walk. Find another option before it is too late. Loan officers, stop trying to drum ... who are already having a bad enough time of it. In a December 17th Washington Post article, HUD [more...]

Date: 2008-12-20 22:19:08

Mortgage Market Update: Version 1

Hey guys. Sorry for the delay in posts, this week has been absolutely hectic and I’ve had no time at all to take a step back and take a breather ... to you by your lender of choice. Obviously if you have bad credit and are looking for the maximum amount of financing ... market, banks will not offer as much equity out of borrower’s homes in a refinance tran [more...]

Date: 2008-08-22 20:15:47

Finding Bad Credit Home Loans

Sep 26th, 2009by Tony Kid. by Tony KidObtaining bad credit home loans is just not as hard as back in times past. There are loads of new programs available to help people with less than stellar credit. You have many options if you fall into the bad credit category today, and help is there if you look for it. You may not think you can get approved for a loan, but if you’ll seek it out, you may find that you’re perfect for the programs that have been put in place today.For many years, citizens of the U. [more...]

Date: 2009-09-26 13:14:42

Two clubs for small mortgage banks; Freddie pushes back 10/1 changes; GMAC steps in to TBW role

Out here in California, some in the business have been following the case of 28-yr old Garret Gililland III. Originally from the Sacramento area, he was just captured in Spain and brought back to California to face charges of a $100 million mortgage fraud ring. In yet another example of what seems to make the headlines for mortgage brokers, Gililland fled in June 2008 with at least $250,000 in cash. [more...]

Date: 2009-09-28 14:40:26

Refinancing Your Mortgage With Bad Credit

by Chris Bird So many people are trying to refinance their mortgages today. A lot of people are doing this because they have lost their jobs and are getting less income. The income from unemployment is only a certain amount of what your income is when you are at work. The only problems with trying to refinance mortgage with bad credit is that they are getting turned down either due to lower income or due to having bad credit. Unfortunately, a lot of people have bad credit and can’t get a loan. [more...]

Date: 2009-09-28 13:05:49

Refinances Booming? Not As Much As You Think

Discount all the reports you read about Americans lining up to refinance their mortgages and take advantage of the lowest rates ever ... of people seeking loans to purchase homes, they have set off a wave of refinancing applications. An index ... down. Only about a third of U.S. mortgage debt outstanding is likely to qualify for refinancing [more...]

Date: 2009-01-16 00:46:03

Bush to blame for mortgage mess...NYT

White House Philosophy Stoked Mortgage Bonfire By JO BECKER, SHERYL GAY STOLBERG and STEPHEN LABATON “We can put light where there's darkness, ... , laid out the latest terrifying news: The credit markets, gripped by panic, had frozen overnight ... championed. There are plenty of culprits, like lenders who peddled easy credit, consumers who took [more...]

Date: 2008-12-21 21:19:17

Shady subprime lenders creeping into Federal mortgage program

(Financial Week) The federal government is ill-equipped to stop the migration of predatory subprime lenders to the rapidly growing sector of U.S ... to process federal loans last year, he said. “I see bad actors moving over to FHA because money ... and Urban Development officials told lawmakers late Friday. One FHA lender in New York who was debarred [more...]

Date: 2009-01-09 03:56:32

Friday’s Rates on Thursday

Huh? Since tomorrow is Independence Day, the bond markets will be closed…so I thought I would provide you with mortgage rates on today ... with a minimum credit score of 720, “full doc” purchase with a sales price of $500,000 and a loan ... %. Rates should be doing great with all this bad news, right? Not so fast! It seems as though Wall Street [more...]

Date: 2008-07-03 18:00:27

July 15th: How does one get $1 million in bank stocks? Start with $2 million.

What Capital Markets employee hasn’t dreamed of being a rodeo clown? “They put themselves in the line of danger every time they go to work ... housing and credit problems could claim more banks after the failure of IndyMac. Suntrust, National City ... for upfront and annual mortgage insurance premiums (MIP) on FHA loans. The Fed approved a plan Monday [more...]

Date: 2008-07-15 13:37:18

Short Sales - what happens AFTER you complete a Short Sale?

I’ve done a few posts on Short Sales in Florida recently because everyone seems interested in them whether they are a buyer or a seller… From the ... your credit around 200-250 points - about the same as a Foreclosure. There will be derogatories (bad ... … there are stiff consequences I don’t like being the person that brings bad news but really that’ [more...]

Date: 2008-06-17 13:23:58

Latest Pajamas Media Column (’Obama’s Race Against the Economy’) Is Up (UPDATES: Other Favorable Signs; Thoughts on NBER’s Recession Call)

It went up here yesterday. The sub-headline is: If a recovery begins too soon, a massive “stimulus” package might not be needed. Democrats consider that a bad thing. It will go up tomorrow morning at BizzyBlog (link won’ ... 19, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 1245.4 [more...]

Date: 2008-12-26 13:02:59

Robert Van Order on Fannie and Freddie

When I left Madison for Washington six years ago, it was to follow my wife, who was offered a terrific job practicing geriatric medicine for under-served communities at the Washington Hospital Center. I decided to go to Freddie Mac at the time, in large part because I admired many people there, including Ed Golding, [more...]

Date: 2008-07-31 11:59:00

Eliminate the Government Option For a Healthy Mortgage Industry

Most loan originators are grateful for the “government option” in the mortgage markets because of the liquidity crunch. I submit that the reason for the mortgage liquidity crunch was TOO much government involvement in housing and its increased involvement has ruined mortgage banking. That’s going to be a hard concept to grasp because all of us have relied on the government, at one time or another, to insure the mortgage loans we make. [more...]

Date: 2009-09-19 12:59:37

Helping to Explain the Bailout Issue to Jittery Clients/Consumers

by: Chris Galler, COO - Minnesota Association of REALTORS Most of the consumers you talk with will not have a good handle - I am not sure anyone does yet - of the nature of the credit problem. In this short article, I hope to give you at least ... and now holds in their portfolio is reported as a bad investment because the value of the asset [more...]

Date: 2008-10-01 17:06:08

The last opportunity for effective action before disaster strikes

Summary: The Paulson Plan is already irrelevant. New and larger measures are needed immediately. This post considers their size and scope ... to the federal funds rate, FHA Secure, Hope Now, a $120 billion tax rebate, massive expansion ... , but you will learn over the next few weeks. To use a bad medical analogy, the financial system [more...]

Date: 2008-10-03 00:01:01

Bailout Has Devilish Details

I’ve but one word for the drafters of the Emergency Economic Stabilization Act Of 2008: GO2HELL! Honestly, was this really the best we could do? ... for eight years suddenly realize they smell bad at the ding, ding, ding of Bush’s name — I still think ... the credit market’s tubes in the time frame necessary to mitigate the disastrous supply-side damage [more...]

Date: 2008-09-29 05:14:15

Time to Get Your Bailout…The ‘Gimme Mine Coalition’

2% Interest Only 5-year loans available again?!? Yes, but beware. -Home Owners and Mortgage professionals, this one is for you ... to do that. You can even negotiate into the modification a better reporting of this event to the credit reporting ... , they had to refi through FHA and carry a silent second for the principal balance reduction needed [more...]

Date: 2008-10-07 21:46:43

Mortgage Market Week in Review

Well, here we are on Friday again. Are you getting motion sickness from all of the news and rumors that are flying back and forth? ... credit, but at least good credit, 3) sufficient verifiable income to support the loan request ... about today: The Bailout/Rescue Plan, some very weak economic reports, the credit markets and do bankers [more...]

Date: 2008-10-03 18:26:32

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