Housing Plan In Effect

Posted by: Carleton Sheets in Real Estate, Modification, Lender, Housing Bill, Foreclosure, Barack Obama, Bailout, Assistance, Amortization on Mar 09, 2009.

Last week, the Obama Adminstration put the new housing plan in effect. Under this part of the plan, lenders are given incentives for enacting loan modifications to lower monthly mortgage payments. These modifications would be available not only to borrowers who are currently late on their payments, but may also qualify borrowers who are current on payments but deemed "at risk."

I was reading

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How We Can Help the Economy

Posted by: Carleton Sheets in HR 1424, Housing Bill, Credit crunch, Credit, Creative Financing Techniques, Bailout on Oct 06, 2008.

Have you wondered how we, as real estate investors, can help speed our economy on the road to recovery? Buy a property! If you find a property that you want to add to your portfolio---and can qualify for a mortgage---don't sit on the sidelines. And if you don't qualify for a mortgage, consider purchasing a property using one of my creative financing techniques.

Why? Well, as an article in USA

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Will Down-Payment Assistance Make a Comeback?

Posted by: Carleton Sheets in Rescue, HR 1424, Housing Bill, Down Payment, Bailout, Assistance on Oct 01, 2008.

Although the news has been fixated on the "rescue" (formerly known as "bailout") package in Washington, I want to remind everyone that one of the provisions of the Housing Bill that passed last July took effect this week on Wednesday, October 1st ... the end of seller-assisted down payments on FHA loans. However, there has been a movement in the real estate industry to repeal this provision

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So Long, FHA Seller Financing!

Posted by: adminchat in Seller finance, Housing Bill, Gift, FHA, Down Payment on Jul 30, 2008.

One of the caveats of the new housing bill that recently passed is the elimination of "gifting" money---seller-funded, down-payment assistance on FHA mortgages. This down payment assistance gave buyers who were unable to save for a down payment the ability to purchase a home with little or no down payment.

Many times, the seller will help the buyer by giving them all or a portion of their down

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Landmark Housing Bill Offers Alternatives

Posted by: Carleton Sheets in Short Sale, Lease Options, Housing Bill, Freddie Mac, Foreclosure, Fannie Mae on Jul 28, 2008.

The landmark housing bill that was just passed by the Senate this weekend will offer $300 billion in loans for homeowners struggling to keep their homes from foreclosure---plus provide much-needed relief to Freddie Mac and Fannie Mae.

Although I feel that the bill has its positives and negatives, I believe the refinancing aspect---which is voluntary for the lender---will have the most impact.

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