Posts Tagged “Downpayment”

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FreeRateUpdate.com

FHA to Boost Mortgage Insurance PremiumsWall Street Journal… that originate loans with FHA backing. “Mortgage lenders will find the new rules painful but necessary,” says Howard Glaser, an industry consultant. …US FHA downpayment to remain 3.5 pct for some ReutersFHA Watch: Are 3.5% Down Payments Too Low? Wall Street Journal (blog)Texas Home Buyers! FHA, VA Loans and 100% Financing FreeRateUpdate.com Wall Street Journalall 21 news articles »

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News Sources wrote an interesting post today on
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Why hasn’t Washington offered any aid to help the beleaguered mortgage insurance (MI) industry? Lawmakers have thrown a bone to nearly every other sector of the housing and mortgage-related industries, but not to mortgage insurers. Especially at a time when credit requirements are so stringent and when most lenders are requiring a maximum downpayment, has not one lawmaker on Capitol Hill even considered propping up this industry that’s on the brink? Note: MI policies help make low-downpa

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News Sources wrote an interesting post today on
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HousingWire has an article about the proposed legislation and what it might mean for FHA borrowers. Let me attempt to clear a few things up: It used to be that when calculating the FHA maximum loan amount, some of the closing costs were factored in to the “acquisition cost.” So, if you were buying a house for $100,000, the down payment calculations would have been based on an acquisition cost of $101,500. That went away already, at least a year ago, though I don’t recall the exact date

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News Sources wrote an interesting post today on
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by Moe Bedard on September 15, 2009 · 0 commentsin Home Loan News EAST ST. LOUIS, Ill. – A federal judge in East St. Louis has ordered a southwestern Illinois minister to spend four years in federal prison and repay $142,000 in a mortgage fraud case.The government says he made fraudulent transactions to get a loan on a home in an exclusive Maryville neighborhood. His wrongdoing helped him get a subprime mortgage to buy property without a downpayment while exposing lender HomeEq Mortgage Servicin

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News Sources wrote an interesting post today on
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I asked a similar question earlier today and a couple people said it would be fraud. Looking around the web it is suggested on several websites as an option for home buying , but I can’t post the links. We own our house valued at 70k. We have a small home improvement loan out now 15k. We want to buy a 125k house so we need 25k down. Our mortgage broker suggested a line of credit, we can buy the house we want.Move.Fix up the old house a little bit. Sell it.Then pay off the HELOC. What is f

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