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Renovation Financing: What I need to do to make sure my loan closes smoothly!
I almost insist that anyone who is getting 203K Renovation Loan, full blown 203K loan or a streamline 203K loan, hire a hud consultant to prepare the work write up. Why would I pay a hud consultant when I am doing less than $35,000 in renovation? Although HUD did away with the old VC sheet on appraisals…FHA appraisers can and still [...]
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New Appraisal Requirements Stir Controvery, Criticism
People considering purchasing a home with an FHA loan in the coming months would do well to check out today’s USA Today. The newspaper takes a look at the controversy surrounding new home appraisal regulations that are getting ready to take effect in mid-February. Beginning Feb. 15, mortgage brokers, Realtors and anyone else who might earn [...]
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Turned Down for a Loan Mod? Here’s Hope and Help
It’s no secret people are having trouble getting loan modifications through HAMP, the government’s Home Affordable Modification Program. Treasury Secretary Geithner has admitted the effort isn’t reaching the number of people he hoped it would. And a Congressional Oversight Panel issued a report concluding HAMP appears capable of preventing only a fraction of the projected [...]
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