Tag: FHA
Understanding the HUD/FHA Short Sale Process
Distressed homeowners who have exhausted most other methods to avoid foreclosure on their homes typically decide to perform a short sale. If you have an FHA-backed loan, you’ll be happy to learn that the United States Department of Housing and Urban Development (HUD) offers a program, known as the Pre-Foreclosure Sales Program, which allows the…
Scoring the Best Loans for New Home Construction
It’s an incredible time to get a sweet deal on a brand new house, but are there any good loans for new home construction left, and where will you find the best options? Types of Loans for New Home Construction Building a dream home on a dream lot overlooking the ocean or with a spectacular…
The Many Fingers in the Mortgage Pie
While it’s easy to imagine that the mortgage process involves only yourself and the guy or gal behind the desk who takes your application, there are many people involved, each with his or her own duties. So, just who has their hands in your mortgage and why? The mortgage process typically has the following participants:…
Are Credit Unions Good Sources for Home Loans?
With many banks losing their credibility by the day, and loans continuing to evaporate, could a local credit union be the answer for finding a great deal on your next home loan? What is a Credit Union Anyway? Credit unions are similar to banks in that they accept deposits, offer checking and savings accounts and…
The Truth About Foreclosures
Whether you own a home and think you can just stop paying your mortgage and escape foreclosure for the next three years without consequences or are hoping to buy a foreclosed home and make off like a bandit with tens of thousands in profits like you see on reality TV shows, you could be in…