There are many reasons why a short sale in California is often the better option compared to a foreclosure, strategic default, or even keeping your home, but this post will cover one big reason (soon coming) that is lurking in the FHA Reform Act bill that just passed the House of Representatives with an overwelming majority.
Single-family housing starts plummeted to a one-year low in May, just 30 days after soaring to a 20-month high. It’s no wonder home builders are confused.
If you plan to finance or re-finance your Inland Empire home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18. Fannie Mae is clamping down on the popular conforming interest only loan product for California Residents. An “interest only” mortgage is exactly what its name implies — […]
HUD/FHA just announced a wiaver for home buyers in the Inland Empire region (Temecula, Murrieta, Menifee, Lake Elsinore, Corona, Riverside, Norco, Ontario etc) of California where they can now appply for FHA home loans to purchase investor flip properties that have been owned for less than 90 days by the seller. This is great news for all of us in Riverside and San Bernardino County where there are many investors buying foreclosed homes, rehabbing gthem, and selling back to first time homebuyers.
Despite re-touching all-time lows on Tuesday and Wednesday, Conforming and FHA mortgage rates in California moved higher on the week.
In a near-unanimous vote, the House of Representatives gave the FHA power to raise the monthly mortgage insurance premiums it charges to its borrowers.
Mortgage rates may be dropping, but in the Inland Empire mortgage costs are not. According to Freddie Mac, the average required discount points on a conforming mortgage rate are higher by 0.1 percent since early-May.
